According to a new report by Expert Market Research titled, “Global Veterinary Reference Laboratory Market Share, Size, Report and Forecast 2024-2032″, the global veterinary reference laboratory market size is projected to grow at a CAGR of 9% between 2024 and 2032. Aided by the increasing emphasis on animal health and preventive care, the market is expected to grow significantly by 2032.
Veterinary reference laboratories specialise in advanced diagnostics and play a pivotal role in the detection, prevention, and management of animal diseases. They offer a wide range of services, from routine blood tests and urinalysis to more complex diagnostic procedures like molecular diagnostics, immunodiagnostics, and histopathology. These laboratories are essential for ensuring accurate diagnoses, guiding effective treatment, and monitoring animal health and disease trends.
The veterinary reference laboratory market growth is propelled by several factors. Increasing pet ownership and the expanding livestock sector necessitate robust animal health monitoring. The growing prevalence of animal diseases and the rising awareness among pet owners and livestock farmers about animal health care contribute significantly to this demand.
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Technological advancements in diagnostic techniques, such as the development of faster and more accurate testing methods, are also boosting the veterinary reference laboratory market demand. Moreover, the emphasis on preventive care and regular health check-ups for pets and livestock is further driving the demand for veterinary reference laboratory services.
The market is geographically diverse. North America leads the market, owing to high pet ownership, advanced animal healthcare infrastructure, and the presence of major market players. Europe also holds a significant share, driven by similar factors.
The Asia Pacific region accounts for a significant portion of the veterinary reference laboratory market share, owing to the rapid growth due to increasing pet adoption, growing livestock production, and rising awareness about animal health. Countries like China and India are key contributors to this growth, with their expanding animal healthcare sectors.
Looking ahead, the market is set for sustained growth. The ongoing advancements in veterinary diagnostics, combined with the increasing awareness about animal health and preventive care, will continue to drive the market. The development of more efficient and cost-effective diagnostic tests will likely further enhance the accessibility and adoption of these services.
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Veterinary Reference Laboratory Market Segmentation
The market can be divided based on technology, application, animal type, and region.
Market Breakup by Technology
- Clinical Chemistry
- Haematology
- Immunodiagnostics
- ELISA
- Lateral Flow Rapid Tests
- Others
- Molecular Diagnostics
- PCR
- Microarrays
- Others
- Others
Market Breakup by Application
- Clinical Pathology
- Toxicology
- Productivity Testing
- Others
Market Breakup by Animal Type
- Production Animals
- Cattles
- Pigs
- Sheep and Goats
- Others
- Companion Animals
- Dogs
- Cats
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global veterinary reference laboratory market. Some of the major players explored in the report by Expert Market Research are as follows:
- Heska Corporation
- Randox Laboratories Ltd.
- Zoetis Inc.
- IDEXX Laboratories, Inc.
- Virbac S.A.
- Others
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