Global Veterinary Reference Laboratories Market: Introduction

  • Veterinary reference laboratories are the laboratories wherein various key functions associated with veterinary science, including determination of treatment options, diagnosis, prevention, and monitoring of animal diseases take place
  • Veterinary reference laboratories provide scientific and technical assistance, along with expert advice and consultancy, on various topics associated with the diagnosis and control of various animal diseases as well as zoonotic diseases 

Key Drivers of Global Veterinary Reference Laboratories Market

  • The global veterinary reference laboratories market is driven by increasing adoption of companion animals, growing availability of advanced diagnostic tests, rising demand for pet insurance, and growing focus on innovations in veterinary health care
  • Around 67% of the U.S. households (or about 85 million families) own a pet, according to the 2019–20 National Pet Owners Survey conducted by the American Pet Products Association (APPA)
  • Increasing prevalence of various animal diseases and increasing population of diseased animals are key factors driving the global veterinary reference laboratories market
  • Rise in interest in veterinary health care, growth of research and development activities in veterinary health care, and surge in the number of veterinary reference laboratories are key factors boosting the global veterinary reference laboratories market
  • However, increasing pet care costs are anticipated to restrain the global veterinary reference laboratories market during the forecast period

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Strategies Adopted by Key Players to Offer Attractive Opportunities to Market

  • Companies operating in the global veterinary reference laboratories market are focused on catering to the needs of the medical community as well as patient pool by introducing new products and technologies. Leading players emphasize research and developmental activities and engage in acquisitions, mergers, and collaborations to strengthen their position in the global market.
  • For instance, in January 2020, IDEXX Laboratories, Inc., a leading player in the global veterinary diagnostics & software industry, announced the launch of a new rapid digital cytology service. The service digitally connects veterinarians to the largest global network of more than 100 veterinary clinical pathologists and enables them to receive cytology interpretations within 2 hours.
  • In October 2019, Zoetis Inc. announced completion of the acquisition of Phoenix Central Laboratory for Veterinarians, Inc. (Phoenix Lab), a full-service veterinary reference laboratory company
  • In November 2019, Zoetis Inc. acquired ZNLabs, a full-service veterinary clinical reference laboratory company with a network of labs across the U.S., to further strengthen its comprehensive diagnostics portfolio
  • Developing economies present lucrative opportunities to the global veterinary reference laboratories market, owing to increase in patient population, surge in the prevalence of animal diseases and zoonotic diseases, and rise in research and development activities in these countries 

North America to Account for a Major Share of Global Veterinary Reference Laboratories Market

  • North America is projected to account for a leading share of the global veterinary reference laboratories market during the forecast period, due to rise in the adoption of companion animals, increase in population of diseased animals, availability of well-established veterinary health care infrastructure, continuous technological advancements, rise in the number of well-equipped laboratories, surge in research and development activities, and presence of key players in the region
  • The veterinary reference laboratories market in Asia Pacific is projected to expand at a rapid pace during the forecast period, due to increasing prevalence of animal diseases as well as zoonotic diseases, expanding veterinary health care sector, and rising interest of key players in expanding their presence in the market in the region 

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Key Players Operating in Global Veterinary Reference Laboratories Market

Leading players in the global veterinary reference laboratories market are focusing on research and development activities and technological advancements. Their competitors are also emphasizing various growth strategies including mergers, acquisitions, product advancements, new product approvals and launches, partnerships, and collaborationsaa. Leading players operating in the global veterinary reference laboratories market are:

  • IDEXX Laboratories, Inc.
  • Zoetis
  • GD
  • Neogen Corporation
  • Boehringer Ingelheim International GmbH
  • ProtaTek International, Inc.
  • Gribbles Veterinary
  • Wisconsin Veterinary Diagnostic Laboratory Madison 

Global Veterinary Reference Laboratories Market: Research Scope 

Global Veterinary Reference Laboratories Market, by Service Type

  • Clinical Chemistry
  • Hematology
  • Immunodiagnostics
  • Molecular Diagnostics
  • Others

Global Veterinary Reference Laboratories Market, by Application

  • Clinical Pathology
  • Bacteriology
  • Virology
  • Parasitology
  • Others

Global Veterinary Reference Laboratories Market, by Animal Type

  • Companion Animals
  • Livestock Animals

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Veterinary Reference Laboratories Market

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