Overview and Scope
The veterinary reference laboratory refers to facilities that perform key veterinary science duties such as disease diagnosis, treatment options determination, prevention, and monitoring.
Sizing and Forecast
The veterinary reference laboratory market size has grown rapidly in recent years. It will grow from $3.9 billion in 2024 to $4.37 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increasing pet ownership, advancements in veterinary medicine, rising awareness of animal health, government initiatives.
The veterinary reference laboratory market size is expected to see rapid growth in the next few years. It will grow to $6.85 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to increasing globalization of pet trade, rising demand for specialized testing services, growing focus on preventive healthcare. Major trends in the forecast period include technological innovations, integration of information technology, growing telemedicine in veterinary care, globalization of veterinary services, expanding test menu and specialization, focus on point-of-care testing.
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Segmentation & Regional Insights
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
Top 5 Major players:
- IDEXX Laboratories Inc
- VCA Animal Hospitals incorporated
- Royal GD
- C. H. Boehringer Sohn AG & Co. KG
- Zoetis Inc
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
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Major Driver Impacting Market Growth
The increasing prevalence of zoonotic diseases is expected to propel the growth of the veterinary reference laboratories market going forward. Zoonotic diseases are caused by pathogenic bacteria, viruses, parasites, and fungi. These viruses can cause a wide range of ailments in humans and animals, from moderate to severe illness and even death. Veterinary reference laboratories are powerful and important tools for preventing zoonotic illnesses, promoting animal health and welfare, safe food production, and public health. For instance, in July 2021, according to the Centers for Disease Control and Prevention, a US-based Government Agency, Zoonotic diseases are very common, both in the United States and around the world. Scientists estimate that more than 6 out of every 10 known infectious diseases in people can be spread from animals, and 3 out of every 4 new or emerging infectious diseases in people come from animals. Therefore, the increasing prevalence of zoonotic diseases is driving the growth of the veterinary reference laboratories market.
Key Industry Players
Major companies operating in the veterinary reference laboratory market report are IDEXX Laboratories Inc., VCA Animal Hospitals incorporated, Royal GD, C. H. Boehringer Sohn AG & Co. KG, Zoetis Inc., Neogen Corporation, Laboklin GmbH & Co. KG, SYNLAB International GmbH, Heska Corporation, Virbac Corporation, Thermo Fisher Scientific Inc., Texas A&M Veterinary Medical Diagnostic Laboratory, University of Minnesota, Iowa State University, Vetnostics, ProtaTek International Inc., Animal and Plant Health Agency, Animal Health Diagnostic Center, National Veterinary Services Laboratory, Washington Animal Disease Diagnostic Laboratory, Kansas State Veterinary Diagnostic Laboratory, Randox Laboratories Ltd., Greencross Ltd., Gribbles Veterinary Pathology Pty. Ltd., Mars Inc., Vaxxinova Gmbh, Pirbright Institute, Biobest Laboratories Ltd., Biovet Private Limited, Fujifilm Holdings Corporation
The veterinary reference laboratory market report table of contents includes:
1. Executive Summary
2. Veterinary Reference Laboratory Market Characteristics
3. Veterinary Reference Laboratory Market Trends And Strategies
4. Veterinary Reference Laboratory Market – Macro Economic Scenario
5. Global Veterinary Reference Laboratory Market Size and Growth
……
31. Global Veterinary Reference Laboratory Market Competitive Benchmarking
32. Global Veterinary Reference Laboratory Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Veterinary Reference Laboratory Market
34. Veterinary Reference Laboratory Market Future Outlook and Potential Analysis
35. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Veterinary Reference Laboratory Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Veterinary Reference Laboratory Market, Segmentation By Animal Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Veterinary Reference Laboratory Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 74: IDEXX Laboratories Inc. Financial Performance
Table 75: VCA Animal Hospitals incorporated Financial Performance
Table 76: Royal GD Financial Performance
Table 77: C.H. Boehringer Sohn AG & Co. KG Financial Performance
Table 78: Zoetis Inc. Financial Performance
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