You are here
Veterinary Reference Laboratory Market Worth $4.8 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 26, 2019 /PRNewswire/ -- According to the new market research report "Veterinary Reference Laboratory Market by Service Type (Clinical Chemistry, Hematology, Immunodiagnostics, Molecular Diagnostics), Application (Pathology, Bacteriology, Virology, Parasitology), Animal (Dog, Cat, Cattle, Poultry, Pig) - Global Forecast to 2024", published by MarketsandMarkets™, the Veterinary Reference Laboratories Market is projected to reach USD 4.8 billion by 2024 from USD 2.9 billion in 2019, at a CAGR of 10.7%.
Download PDF Brochure:
Growth in the companion animal population, rising demand for animal-derived food products, and increasing incidence of zoonotic and transboundary diseases are driving the growth of this market.
The immunodiagnostics segment accounted for the largest share of the Veterinary Reference Laboratory Market, by type of service, in 2018.
On the basis of the type of service, the market is segmented into clinical chemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and other services. In 2018, the immunodiagnostics segment accounted for the largest share of the market. 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.
Browse in-depth TOC on "Veterinary Reference Laboratory Market"
152 – Tables
34 – Figures
208 – Pages
Clinical pathology is the largest application segment of the Veterinary Reference Laboratories Market
Based on application, the market is segmented into clinical pathology, bacteriology, virology, parasitology, productivity testing, pregnancy testing, and toxicology. In 2018, the clinical pathology segment accounted for the largest market share. 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 animals segment accounted for the larger market in 2018.
Based on animal type, the Veterinary Reference Laboratory Market is segmented into livestock animals and companion animals. In 2018, the companion animals segment accounted for the larger share of this market. 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 increasing incidence of zoonotic diseases.
Get 10% Customization on this Research Report:
North America will continue to dominate the Veterinary Reference Laboratory Market in 2024
In 2018, North America accounted for the largest share of the market, followed by Europe. The increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices are driving the growth of the North American market.
Prominent players in the Veterinary Reference Laboratories Market are 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&M Veterinary Medical Diagnostic Laboratory (US), Veterinary Diagnostic Laboratory - University of Minnesota (US), and Veterinary Diagnostic Laboratory, Iowa State University (US).
Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting
Get Special Pricing on Bundle Reports:
Browse Related Reports:
Veterinary Imaging Market by Product (Ultrasound, Radiography, MRI, Video Endoscopy), Therapeutic Area (Oncology, Cardiology, Neurology, Orthopedic), Animal (Small Companion Animals, Large Animals), End User (Hospital, Clinic) - Global Forecast to 2022
Veterinary Diagnostics Market by Product (Instruments, Consumables),Technology (Clinical Biochemistry, Urinalysis, Immunodiagnostics, Hematology, Molecular Diagnostics), Animal (Dogs, Cats, Horses, Cattle, Pigs, Poultry), End User - Global Forecast to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Visit Our Website: https://www.marketsandmarkets.com