A veterinary reference laboratory is a specialised laboratory that offers diagnostic testing services to animals. These laboratories use cutting-edge equipment and techniques to detect and treat diseases in cattle, pets, and zoo animals. These institutions perform a wide range of diagnostics, from basic blood tests to more advanced procedures including biopsies and PCR (polymerase chain reaction) assays.
According to SPER market research, ‘Veterinary Reference Laboratory Market Size- By Technology, By Animal Type, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’state that the Global Veterinary Reference Laboratory Market is predicted to reach USD 9.36 billion by 2032 with a CAGR of 7.84%.
Market Drivers:
- Increased demand for meat and other animal products: The rising demand for meat and other animal products frequently leads to a greater emphasis on livestock health. Veterinary reference laboratories monitor and maintain animal health through diagnostic tests, disease surveillance, and preventative healthcare interventions. Veterinary reference laboratories contribute to disease control by providing timely and accurate diagnostic services, which aid in the prevention and management of outbreaks that could disrupt meat and other animal product supply.
- Rising Pet Ownership: The increasing popularity of pet ownership, particularly in industrialised nations, adds to the expansion of veterinary services, such as diagnostic tests performed by reference laboratories. More pets create a greater demand for veterinary services, which range from routine check-ups and vaccines to more specialised treatments. Veterinary reference laboratories play an important role in supporting these services by offering advanced diagnostic tests, pathology services, and other specialised diagnostics.
Restraints/ Challenges:
- Strict Regulatory Environment: The veterinary industry's stringent standards and compliance requirements might provide obstacles for reference laboratories. Meeting these criteria may be costly and time consuming. Veterinary reference laboratories frequently seek accreditation or certification from the appropriate regulatory agencies. Accreditation assures that the laboratory adheres to particular quality and performance criteria.
- Supply Chain Disruptions: Global catastrophes such as pandemics or geopolitical concerns have the potential to interrupt the supply chain for laboratory equipment, reagents, and consumables. This might cause delays in testing operations and reduce the overall efficiency of veterinary reference laboratories.
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COVID Impact: The COVID-19 pandemic has had varying effects on the veterinary reference laboratory market. While the pandemic has disrupted veterinary services, such as routine check-ups and non-essential diagnostics, it has also emphasised the need of zoonotic disease surveillance and the need for reliable and speedy diagnostic testing in animals. Veterinary reference laboratories have responded to the pandemic by improving safety standards, providing telemedicine services, and focusing on urgent and important diagnostic testing.
North America is projected to lead the market due to its strong healthcare infrastructure. In addition, the region's disease burden is increasing, there is improved veterinary care and services available, and veterinary healthcare cost is rising.
Asia-Pacific is predicted to be the fastest expanding region in the market, owing to increased awareness of animal health and zoonotic illnesses, increased pet healthcare spending, and the growing focus of major players on emerging markets.
Additionally, some of the market key players are Boehringer Ingelheim, Colorado State University, SYNLAB International GmbH, Washington Animal Disease Diagnostic Laboratory, Zoetis Inc., Others.
Global Veterinary Reference Laboratory Market Segmentation:
By Technology: Based on the Technology, Global Veterinary Reference Laboratory Market is segmented as; Clinical Chemistry, Hematology, Immunodiagnostics (ELISA, Lateral Flow Rapid Tests, Others), Molecular Diagnostics (Microarrays, PCR, Others), Others.
By Animal Type: Based on the Animal Type, Global Veterinary Reference Laboratory Market is segmented as; Companion Animals (Cats, Dogs, Horses, Other), Livestock Animals (Cattle, Poultry, Swine, Other).
By Application: Based on the Application, Global Veterinary Reference Laboratory Market is segmented as; Bacteriology, Clinical Pathology, Parasitology, Pregnancy Testing, Productivity Testing, Toxicology, Virology, Others.
By End User: Based on the End User, Global Veterinary Reference Laboratory Market is segmented as; Clinics, Hospitals.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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Veterinary Reference Laboratory Market Scope
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According to research report the veterinary reference laboratories market size is projected to reach USD 5.6 billion by 2025 from USD 3.4 billion in 2020, at a CAGR of 10.5%.Factors such as increasing demand for animal-derived food products and increasing incidence of transboundary and zoonotic diseases are driving the growth of this market amongst the livestock animals during the forecast period.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256972714The veterinary reference lab market is segmented based on the type of service, application, animal, and region.
Due to lockdown restrictions and social distancing protocols due to COVID-19 across various countries through the first half of 2020, the market saw a small dip in the number of veterinary clinic visits for routine testing.
However, with the launch of new test kits for COVID-19 testing in pets, the second half of the year is expected to see a rise in the total number of tests in reference laboratories, thus compensating for the loss in revenues across the first two quarters.The immunodiagnostics segment accounted for the largest share of the veterinary reference lab market, by type of service, in 2019.Based on the type of service, the market is segmented into clinical chemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and others.
The low cost, low procedural complexity, and greater adoption due to ease of training are some of the key advantages supporting the adoption of this service.Clinical pathology is the largest application segment of the veterinary reference laboratories marketBased on application, the veterinary reference laboratories market is segmented into clinical pathology, bacteriology, virology, parasitology, productivity testing, pregnancy testing, and toxicology.
The rising volume of pathology tests performed is the major factor driving the demand for diagnostic products and consumables for clinical pathology applications.The companion animal segment accounted for the larger market in 2019.Based on animal type, the veterinary reference lab market is segmented into livestock animals and companion animals.
Growth in this segment is attributed to the growing adoption of companion animals, increasing disposable incomes, growing willingness of companion animal owners to spend more on animal health, and rising incidence of zoonotic diseases.IDEXX Laboratories, Inc. (US), VCA Inc. (US), GD Animal Health (Netherlands), Zoetis Inc. (US), Neogen Corporation (US), Boehringer Ingelheim (Germany), Marshfield Labs (US), ProtaTek International (US), Texas A Veterinary Medical Diagnostic Laboratory (US), Veterinary Diagnostic Laboratory - University of Minnesota (US), and Veterinary Diagnostic Laboratory, Iowa State University (US).Recent Developments> In April 2020, IDEXX launched the SARS-CoV-2 (COVID-19) RealPCR Test for companion animals in the US.> In 6-9 months since October 2019, Zoetis acquired three laboratories that have enhanced the company’s portfolio of testing services with the introduction of microbiology, serology, hematology, chemistry, and many other miscellaneous tests.> In June 2018, Boehringer Ingelheim acquired Newport Laboratories.
The report covers an overview of the industry along with a detailed explanation that provides a lot of insight.
The report also analyzes the production as well as management technology in various end-user industries.
An in-depth study in some new and prominent industry trends, analysis of the competition and regional analysis that is very detailed have been included in the report of the Clinical Reference Laboratory Services market for the review period of 2020 – 2027.There are many different factors that have caused the quick expansion of the Clinical Reference Laboratory Services market.
In addition to the above, government initiatives, as well as the competitive landscape that exists in the Clinical Reference Laboratory Services market through the forecast period, has been analyzed.Ask for report free sample with complete TOC and list of tables/figures @ https://www.datalibraryresearch.com/sample-request/clinical-reference-laboratory-market-2157 Global Clinical Reference Laboratory Services Market Key Companies:Sonic HealthCare Limited,Aurora Diagnostics,Unilabs,Quest Diagnostics,ARUP Laboratories,Clinical Reference Laboratories,SYNLAB International Gmbh,KingMed DiagnosticsThe base year of the study is 2020 and the forecast period stretches all the way till 2027.
This has led to the creation of a strong understanding of the market for the upcoming years.
In addition to this, different latent growth factors, opportunities and restraints are evaluated for this advanced study and suggestions are made for the market that pertains to the forecast period.SegmentationThe Clinical Reference Laboratory Services market covers different regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
