Unlocking Opportunities in the Veterinary Reference Laboratory Market: Key Growth Trends and Forecast Insights
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What CAGR Will the Veterinary Reference Laboratory Market Achieve During 2025–2034, and What Does It Indicate?
In recent years, the market size of the veterinary reference lab has seen swift expansion. The market is projected to rise from a value of $4.33 billion in 2024 to $4.83 billion in 2025, with a compound annual growth rate (CAGR) of 11.5%. The significant growth during the historic period is linked to factors such as an increase in pet adoption, advancements in the field of veterinary medicine, heightened awareness concerning animal health, and various government initiatives.
The industry size of the veterinary reference laboratory is predicted to experience a swift expansion in the upcoming years. The projection is that it will escalate to a significant $7.58 billion by 2029, with a compound annual growth rate (CAGR) of 11.9%. The anticipated growth during this speculative period can be credited to the intensifying international commerce of pets, escalating demand for specialist testing services and an increasing emphasis on preventive health care. Important trends for this forecast period encompass technological advancements, merger of information technology, the rise of telemedicine within veterinary care, the widespread adoption of veterinary services, increase in test options and specializations, along with the emphasis on point-of-care testing.
What External and Internal Drivers Are Contributing to the Growth of the veterinary reference laboratory Market’s Growth?
The growth momentum of the veterinary reference laboratories market is anticipated to be driven by the escalating prevalence of zoonotic diseases. Pathogenic entities such as bacteria, viruses, parasites, and fungi induce these diseases which can result in varying degrees of human and animal afflictions, ranging from mild to severe, and in extreme cases – death. Veterinary reference laboratories are pivotal in safeguarding against zoonotic diseases, contributing towards animal welfare and health, ensuring the safe production of food and public health. As per the data revealed by the Centers for Disease Control and Prevention, a US Government Agency, in July 2022, zoonotic diseases are a frequent occurrence, not just within the United States but globally too. Researchers calculate that over 6 out of 10 identified infectious diseases in humans have the potential to be transferred from animals, and 3 out of every 4 newly emerging or existing infectious diseases in humans are of animal origin. Consequently, the rising occurrence of zoonotic diseases is fueling the expansion of the veterinary reference laboratories market.
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Who Are the Major Companies Shaping the Competitive Landscape of the Veterinary Reference Laboratory Market?
Major companies operating in the veterinary reference laboratory market include:
• IDEXX Laboratories Inc._x000D_
• VCA Animal Hospitals incorporated_x000D_
• Royal GD_x000D_
• C. H. Boehringer Sohn AG & Co. KG_x000D_
• Zoetis Inc._x000D_
What Are the Key Emerging Trends in the Veterinary Reference Laboratory Market for the Next Decade?
Leading businesses in the veterinary reference laboratories market are prioritizing the creation of sophisticated analytical tools like Vello with the aim of improving veterinary diagnostic processes and optimizing lab workflows. Vello is an ingenious diagnostic platform engineered to offer rapid and precise testing outcomes for assessment of veterinary health and administration of diseases. For example, IDEXX Laboratories Inc., a US firm specialized in distributing products and services for companion animal veterinary, water testing and for livestock, poultry, and dairy, introduced Vello in February 2024. Vello, an Innovative Pet Owner Engagement Software Solution, streamlines the way in which practices and pet owners interact. Exclusively built for IDEXX practice management software, Vello allows efficient communication for veterinary practices utilizing ezyVet®, Neo®, and Cornerstone®. Its features include automated reminders, alerts for health services and a mobile web platform that’s user-friendly and provides effortless access to pet records and appointment bookings. This optimization leads to increased practice productivity, strengthens client relationships, and enhances the overall quality of pet care.
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Which Market Segments Are Driving Strategic Growth and Trends in the Veterinary Reference Laboratory Market?
The veterinary reference laboratory market covered in this report is segmented –
1) By Services: Clinical Chemistry, Hematology, Immunodiagnostics, Urinalysis, Molecular Diagnostics, Other Services
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Clinical Pathology, Bacteriology, Parasitology, Virology, Productivity Testing, Pregnancy Testing, Toxicology Testing
4) By End User: Veterinary Hospitals, Veterinary Clinics
Subsegments:
1) By Clinical Chemistry: Blood Biochemistry Panels, Electrolyte Analysis, Liver And Kidney Function Tests
2) By Hematology: Complete Blood Count (CBC), Coagulation Testing, Blood Smear Analysis
3) By Immunodiagnostics: Serology Testing, Antibody And Antigen Testing, Allergy Testing
4) By Urinalysis: Urine Chemistry Analysis, Microscopic Examination, Urine Culture And Sensitivity
5) By Molecular Diagnostics: PCR Testing, Genetic Testing, Infectious Disease Detection
6) By Other Services: Cytology, Histopathology, Parasitology
Which Regions Are Making a Mark in the Veterinary Reference Laboratory Market Growth?
North America was the largest region in the veterinary reference laboratory market in 2024.The regions covered in the veterinary reference laboratory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Key Parameters Define the Veterinary Reference Laboratory Market’s Scope?
The veterinary reference laboratory refers to facilities that perform key veterinary science duties such as disease diagnosis, treatment options determination, prevention, and monitoring. It is used to provide accurate disease diagnosis, monitor outbreaks, and support veterinary practices with expert analysis and guidance.
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