Global Veterinary Reference Laboratory Market Report and Forecast 2024-2032

Global Veterinary Reference Laboratory Market Outlook

The global veterinary reference laboratory market is expected to grow in the forecast period of 2024-2032 at a CAGR of 9%.

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Rising Awareness Regarding the Significance of Animal Health Aiding the Market Growth

The expansion of veterinary laboratories, along with the rising availability of skilled veterinarians, is fuelling the market growth of veterinary reference laboratory. The growing trend of animal diagnostics, owing to the rising awareness regarding animal health, is also augmenting the market growth. Further, the growing demand for disease management and diagnostics to ensure the overall wellbeing of animals is propelling the market growth. Increasing research and development (R&D) activities to develop innovative medicines for animal diagnostics is also providing further impetus to the industry growth. As pet ownership of cats and dogs in urban regions is significantly surging, the demand for veterinary diagnostics to prevent the risk of zoonotic diseases among pets is increasing. This is surging the growth of the veterinary reference laboratory industry. The trend has been escalated with the surge of the COVID-19 pandemic as pet owners increasingly prefer polymerase chain reaction (PCR) to ensure the safety of their pets, which is significantly contributing to the market growth. Further, the development of advanced diagnostic tools, such as instruments, accessories, and apparatuses, is increasing the demand for veterinary reference laboratories, which is expected to propel the industry growth in the coming years.

Veterinary Reference Laboratory: Market Segmentation

Veterinary reference laboratory refers to a veterinary laboratory that receives a specimen from another laboratory to perform tests on the specific specimen for effective diagnosis. It typically provides pathological testing, advanced diagnostics, and routine testing for animals. It ensures that the results of the test performed are accurate, precise, and reliable.

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The major technologies of veterinary reference laboratory are:

• Clinical Chemistry
• Haematology
• Immunodiagnostics
  • ELISA
  • Lateral Flow Rapid Tests
  • Others
• Molecular Diagnostics
  • PCR
  • Microarrays
  • Others
• Others

The market can be broadly categorised on the basis of its applications segments into:

• Clinical Pathology
• Toxicology
• Productivity Testing
• Others

By animal type, the market is divided into:

• Production Animals
  • Cattles
  • Pigs
  • Sheep and Goat
  • Others
• Companion Animals 
  • Dogs
  • Cats
  • Others

The EMR report looks into the regional markets of veterinary reference laboratory like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Development of Advanced Veterinary Diagnostics to Bolster the Growth of the Veterinary Reference Laboratory Industry

The development of quality veterinary diagnostics owing to increasing research activities is positively impacting the market growth. The incorporation of novel diagnostic techniques, such as western blot and polymerase chain reaction (PCR), is enabling better diagnosis of various diseases, therefore, aiding the industry growth. In addition, the adoption of the latest technological advancements in veterinary reference laboratories is significantly contributing to the market growth.  The rising prevalence of various infectious diseases among animals is also propelling the growth of the veterinary reference laboratory industry. As cost-effective antimicrobial diagnoses that can provide an early diagnosis while fulfilling regulatory standards are increasingly being developed, pet owners are preferring it to improve the holistic health of pets, which is providing further impetus to the market growth.

The growing trend of advanced monoclonal antibodies, recombinant antigens, and synthetic peptides is aiding in the quality diagnosis of zoonotic diseases, which is expected to augment the market growth over the forecast period. The production of specific proteins and peptides for various biotechnological methods, such as overexpression of immunogens and cloning of genes, and the rising use of these improved antigens are expected to drive the industry growth. Moreover, the growing popularity of diagnostic kits that can effectively detect any parasitical movement is projected to accelerate the market growth.

Key Industry Players in the Global Veterinary Reference Laboratory Market

The report presents a detailed analysis of the following key players in the global veterinary reference laboratory market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Heska Corporation
• Randox Laboratories Ltd.
• Zoetis Inc.
• IDEXX Laboratories, Inc.
• Virbac S.A.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report