Veterinary Reference Laboratory Market Size
Veterinary Reference Laboratory Market size was valued at around USD 3.9 billion in 2022 and is estimated to reach USD 12.2 billion by 2032. The rising global prevalence of zoonotic illnesses has increased the demand for animal health diagnostics and monitoring services.
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Zoonotic illnesses are a huge public health issue, particularly in tropical regions that lack adequate healthcare infrastructure and financial resources. Therefore, an increase in consumer awareness pertaining to the importance of investing in the health of animals, particularly those in contact with humans to prevent zoological diseases is expected to fuel the adoption of veterinary diagnostics.
A privately held organisation known as a veterinary reference laboratory is responsible for identifying zoonotic diseases in farm and domestic animals. On a regular and specialised basis, the labs are used to test animals for brucellosis, TB, anthrax, yellow fever, rabies, measles, and other diseases. Also, the labs are used to perform check-ups for pre-anaesthetic evaluations and maintain track of treatment outcomes. Veterinary reference laboratory offers services such as clinical pathology, bacteriology, toxicology, virology, and pregnancy testing. They also provide technical and scientific support by using haematology, immunodiagnostics, and molecular diagnostics.
Veterinary Reference Laboratory Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Veterinary Reference Laboratory Market Size in 2022 |
USD 3.9 billion |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
12.1% |
| 2032 Value Projection |
USD 12.2 billion |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
220 |
| Segments covered |
Technology, Application, Animal Type and Region |
| Growth Drivers |
- Increasing pet adoption for companionship
- Rising demand for pet insurance and increasing animal health expenditure
- Rising number of zoonotic diseases among pet animals
|
| Pitfalls & Challenges |
- High cost associated with pet care products
- Growing demand for point of care portable instruments
|
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COVID-19 Impact
The coronavirus outbreak proliferated the disease burden and hampered several global businesses including the healthcare sector, during 2020 & initial phase of 2021. This has resulted in delay or postponing several medical and diagnostics procedures. The pandemic disrupted the Research and development activities of veterinary diseases along with the logistics supply of various essential pharmaceutical products for pets.
For instance, according to an article published by Frontiers in May 2022, a dog's chronic illness diagnosis, including cancer, reduced the odds of seeking care during the pandemic in UK, reportedly due to difficulties in accessing care for non-urgent issues and lack of access to veterinarians. However, with the declining COVID-19 cases and ease of restrictions, the studied market is expected to regain its full potential over the years.
Veterinary Reference Laboratory Market Trends
The world is facing a surge in animal diseases that can spread between animals and humans, known as zoonotic diseases. At the same time, more and more people are keeping companion animals as pets. These trends are driving the growth of the pet healthcare market. For example, in Germany, there are now over 10 million dogs and 16 million cats, with more households owning cats than dogs. This shows how popular pet ownership has become. As more people adopt pets, they're also taking out pet insurance and spending more money on their furry friends' health. This is creating opportunities for companies that develop and sell pet healthcare products and services. On the other hand, some factors could slow down the market's growth. For instance, the demand for portable devices for pet care and the rising cost of pet healthcare may make it harder for some people to afford the best care for their pets.
Veterinary Reference Laboratory Market Analysis
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The veterinary reference lab market uses different technologies, such as clinical chemistry, immunodiagnostics, and hematology. In 2022, clinical chemistry was the top dog, bringing in a whopping $1.4 billion. Why? Because vets need these tests to get a general picture of an animal's health. In clinical chemistry, they collect samples like blood or urine and analyze them to check how the body's systems and organs are doing. These tests help diagnose diseases, monitor their progress, and see how well treatments are working. That's why clinical chemistry is such a hot topic in the veterinary world.
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Based on application, the veterinary reference laboratory market is segmented as bacteriology, virology, clinical pathology, parasitology, pregnancy testing, productivity testing, and toxicology testing. The clinical pathology segment is expected to reach over USD 4.7 billion by 2032. Clinical pathology facilities perform veterinary services including routine blood analysis testing of animals as well as professional consultation for laboratory results. These labs offer coagulation profiles, chemical analysis, complete blood cell counts, blood gas analyses, cross pairing, endocrine testing, urinalysis, and cytology investigations. They also offer veterinary clinical pathologist consulting services.
The veterinary reference laboratory market caters to different types of animals, mainly companion animals like dogs, cats, and horses, and livestock animals, including cows, pigs, and poultry. Among these, companion animals have been the most popular category in the market, accounting for the largest share in 2022. This dominance is expected to continue in the future, with the companion animal segment projected to grow at an impressive rate of 13.4% per year between 2023 and 2032. This growth is driven by several factors, including the growing popularity of pet ownership. Studies have shown that bonding with animals can have positive effects on human health. Additionally, there's been a rise in government initiatives focused on animal welfare. To cater to this growing demand, leading companies in the industry are working hard to create unique and effective animal products. These efforts are expected to further boost the growth of the companion animal segment in the veterinary reference laboratory market.
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The North American region held a significant share of the veterinary reference laboratory market accounting for more than 39% in 2022 and is projected to similar trend over the forecast period. Large animal population (especially pets), increasing disease burden, presence of better veterinary care and services and increasing veterinary healthcare are few factors contributing to the regional market expansion.
For instance, in September 2022, more than half of Canadian homes (60%) owned at least one dog or cat, according to data from the Canadian Animal Health Institute (CAHI). Similarly, the dog population reached to 7.9 million, while the cat population increased to 8.5 million in 2022. Therefore, owing to larger pet population, the burden of several disease among animals is likely to be higher, thereby driving market size in the region.
Veterinary Reference Laboratory Market Leaders
Some of the major market players operating in the veterinary reference laboratory industry are
- IDEXX Laboratories Inc
- GD Animal Health
- Zoetis Inc.
- NEOGEN Corporation
- LABOKLIN GMBH & CO.KG
- Heska Corporation
- Virbac
- Vaxxinova Gmbh
- Thermo Fisher Scientific Inc
- Boehringer Ingelheim International GmbH
- Colorado State University
- Nova Biomedical,
- Antech Diagnostics, Inc.
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Veterinary Reference Laboratory Industry News
- In November 2022, VolitionRx Limited launched its Nu.Q Vet Cancer Screening Test across the U.S. and Europe market through Heska Corporations’ veterinary diagnostic laboratories. This strategy is expected to enhance company’s outreach to untapped economies.
- In June 2022, IDEXX Laboratories Inc. launched new reference laboratory tests and services to assist veterinarians acquire insights during wellness screenings, build treatment regimens for cats with chronic renal disease, and receive fast, definite results in the most essential instances.
The veterinary reference laboratory market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments
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By Technology, 2018 - 2032 (USD Million)
- Clinical Chemistry
- Immunodiagnostics
- ELISA
- Lateral flow assays
- Other immunodiagnostics assa
- Molecular Diagnostics
- PCR tests
- Microarray
- Other molecular diagnostic services
- Hematology
- Urinalysis
- Other technologies
By Application, 2018 - 2032 (USD Million)
- Clinical Pathology
- Bacteriology
- Virology
- Parasitology
- Productivity Testing
- Pregnancy Testing
- Toxicology Testing
By Animal Type, 2018 - 2032 (USD Million)
- Companion animal
- Dogs
- Cats
- Horses
- Other companion animals
- Livestock animals
- Cattle
- Swine
- Poultry
- Sheep & goats
- Other livestock animals
The above information is provided for the following regions and countries
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
