Veterinary Reference Laboratory Market Size
Laboratory Veterinary Reference Market size is projected to reach USD 12.2 billion by 2032 from USD 3.9 billion in 2022. The demand for animal health diagnostics and monitoring systems has grown as zoonotic diseases' worldwide frequency rises.
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A major public health concern, zoonotic diseases especially affect tropical areas without sufficient financial resources and healthcare facilities. Therefore, veterinary diagnostics is projected to be adopted in response to growing consumer awareness on the need of investing in the health of animals, especially those in touch with people to prevent zoological diseases.
Identifying zoonotic illnesses in farm and domestic animals falls to a privately held company called a veterinary reference laboratory. Regularly and specifically, animals are tested for brucellosis, TB, anthrax, yellow fever, rabies, measles, and other diseases in the labs. Furthermore employed in the labs are pre-anaesthetic evaluations and tracking of treatment results. Services available in a veterinary reference laboratory include clinical pathology, bacteriology, toxicology, virology, and pregnancy testing. By means of haematology, immunodiagnostics, and molecular diagnostics, they also offer technical and scientific support.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Veterinary Reference Laboratory Market Size in 2022 | USD 3.9 billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 12.1% |
| 2032 Value Projection | USD 12.2 billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 220 |
| Segments covered | Technology, Application, Animal Type and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
COVID-19 Impact
During 2020 and the first phase of 2021, the coronavirus epidemic spread the disease burden and affected several multinational companies including the healthcare industry. This has caused delay or postponement of many diagnoses and medical treatments. Along with the logistics supply of several necessary medicinal goods for animals, the epidemic interfered with the research and development operations of veterinary diseases.
For example, a dog's chronic illness diagnosis—including cancer—reduced the likelihood of seeking treatment during the epidemic in the UK, allegedly due to difficulty in accessing care for non-urgent illnesses and lack of access to vets, according to a Frontiers in May 2022 article. Nevertheless, the investigated market is projected to reach its full potential over the years with the falling COVID-19 instances and removal of limitations.
Veterinary Reference Laboratory Market Trends
Zoonotic diseases—that is, animal diseases capable of spreading between animals and humans—are proliferating across the planet. Simultaneously, an increasing number of people maintain companion animals in their homes. The pet healthcare market is expanding under these patterns. For instance, more homes in Germany currently house cats than dogs; the country boasts over 10 million dogs and 16 million cats. This captures the growing popularity of pet ownership. More people adopting pets are also purchasing pet insurance and spending more money on the health of their animal companions. For businesses who create and market pet healthcare goods and services, this is opening prospects. Conversely, some elements may slow down the expansion of the market. For example, the growing cost of pet healthcare and the need for portable gadgets for pet care could make some people more difficult to afford the best treatment for their dogs.
Veterinary Reference Laboratory Market Analysis
Learn more about the key segments shaping this market
Clinical chemistry, immunodiagnostics, hematology—among other technologies—are used in the veterinary reference lab market. With a stunning $1.4 billion in sales in 2022, clinical chemistry took the stage. Why? Since vets require these tests to have a whole view of the condition of an animal. In clinical chemistry, they gather samples—such as blood or urine—then examine them to see how organs and systems of the body are performing. These tests track illness progress, aid in diagnosis, and show how effectively therapies are performing. Clinical chemistry is therefore rather a hot issue in the veterinary field.
Learn more about the key segments shaping this market
Application drives the veterinary reference laboratory market to be divided into bacteriology, virology, clinical pathology, parasitology, pregnancy testing, production testing, and toxicity testing. By 2032, the section on clinical pathology is estimated to be worth over USD 4.7 billion. Along with professional consulting for laboratory results, clinical pathology clinics provide veterinary services including routine blood analysis testing of animals. These labs provide comprehensive blood cell counts, blood gas analyses, cross pairing, endocrine testing, urinalysis, cytology studies, coagulation profiles, chemical analysis, They also provide veterinary clinical pathologist consultation services.
Mostly companion animals like dogs, cats, and horses, the veterinary reference laboratory market also serves cattle animals like pigs and poultry. Among these, companion animals have been the most often used category in the market with the highest share in 2022. With the companion animal market forecast to expand at an amazing 13.4% annually between 2023 and 2032, this supremacy is expected to persist going forward. A number of elements, including the rising popularity of pet ownership, influence this increase. Studies have indicated that human health may improve when one bonds with animals. Government programs targeted at animal welfare have also proliferated. Leading companies in the sector are working hard to develop original and successful animal products in order to meet this increasing demand. These initiatives should help the companion animal segment in veterinary reference laboratory market to develop even further.
Looking for region specific data?
With over 39% of the veterinary reference laboratory market share in North America in 2022 and expected to follow a similar trend over the next years. Few elements driving the expansion of the regional market are large animal population (particularly pets), growing illness load, presence of better veterinary care and services, and veterinary healthcare's development.
For instance, in September 2022, more than half of Canadian homes (60%) owned at least one dog or cat, according to data from the Canadian Animal Health Institute (CAHI). Similarly, the dog population reached to 7.9 million, while the cat population increased to 8.5 million in 2022. Therefore, owing to larger pet population, the burden of several disease among animals is likely to be higher, thereby driving market size in the region.
Veterinary Reference Laboratory Market Leaders
Some of the major market players operating in the veterinary reference laboratory industry are
- IDEXX Laboratories Inc
- GD Animal Health
- Zoetis Inc.
- NEOGEN Corporation
- LABOKLIN GMBH & CO.KG
- Heska Corporation
- Virbac
- Vaxxinova Gmbh
- Thermo Fisher Scientific Inc
- Boehringer Ingelheim International GmbH
- Colorado State University
- Nova Biomedical,
- Antech Diagnostics, Inc.
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Veterinary Reference Laboratory Industry News
- In November 2022, VolitionRx Limited launched its Nu.Q Vet Cancer Screening Test across the U.S. and Europe market through Heska Corporations’ veterinary diagnostic laboratories. This strategy is expected to enhance company’s outreach to untapped economies.
- In June 2022, IDEXX Laboratories Inc. launched new reference laboratory tests and services to assist veterinarians acquire insights during wellness screenings, build treatment regimens for cats with chronic renal disease, and receive fast, definite results in the most essential instances.
The veterinary reference laboratory market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
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By Technology, 2018 - 2032 (USD Million)
- Clinical Chemistry
- Immunodiagnostics
- ELISA
- Lateral flow assays
- Other immunodiagnostics assa
- Molecular Diagnostics
- PCR tests
- Microarray
- Other molecular diagnostic services
- Hematology
- Urinalysis
- Other technologies
By Application, 2018 - 2032 (USD Million)
- Clinical Pathology
- Bacteriology
- Virology
- Parasitology
- Productivity Testing
- Pregnancy Testing
- Toxicology Testing
By Animal Type, 2018 - 2032 (USD Million)
- Companion animal
- Dogs
- Cats
- Horses
- Other companion animals
- Livestock animals
- Cattle
- Swine
- Poultry
- Sheep & goats
- Other livestock animals
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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