Veterinary Reference Laboratory Market

IDEXX Laboratories, Inc. (US) and VCA, Inc. (US) are Leading Players in the Veterinary Reference Laboratory Market

The global 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%. In 2019, IDEXX Laboratories, Inc. (US), VCA, Inc. (US), and GD Animal Health (Netherlands) dominated the global veterinary reference laboratories industry.

Some of the other prominent players operating in the veterinary reference laboratories market are Zoetis, Inc. (US), Neogen Corporation (US), Boehringer Ingelheim (Germany), Marshfield Labs (US), ProtaTek Internationals, Inc. (US), Texas A&M Veterinary Medical Diagnostic Laboratory (US), Veterinary Diagnostic Laboratory - University of Minnesota (US), and Veterinary Diagnostic Laboratory, Iowa State University (US).

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IDEXX Laboratories, Inc. (US) dominated the global veterinary reference laboratories market in 2019. The company has a diversified product portfolio, which includes a wide range of companion animal diagnostic products. IDEXX’s leading position in this market can be attributed to its active R&D activities and an extensive distribution footprint across the globe. To garner a larger share in this market, IDEXX continuously focuses on inorganic growth strategies such as acquisitions. The company was involved in the acquisition of six veterinary reference laboratories in FY 2017-19. Additionally, the company was the first one in the veterinary space to launch a COVID-19 test kit for companion animals in its reference laboratories across the US.

VCA, Inc. (US) accounted for the second-largest share of the veterinary reference laboratories market in 2019. The company offers a strong portfolio of products and services in the veterinary diagnostics industry through 65 of its veterinary diagnostic laboratories. VCA provides diagnostic testing for more than 15,000 clients, including standard hospitals for small animals, large animal practices, universities, and other government organizations. The company’s leading position in this market can be attributed to its diagnostic imaging product offerings and consulting services, and its strong relationships with its customers. To remain competitive in this market, the company focuses on increasing its customer base. In September 2017, VCA was acquired by one of the leading veterinary health providers, Mars Inc., and now functions as a separate business unit within Mars Petcare.

Related Reports:

Veterinary Reference Laboratory Market by Service Type (Clinical Chemistry, Hematology, Immunodiagnostics, Molecular Diagnostics), Application (Pathology, Bacteriology, Virology, Parasitology), Animal, and Region - Global Forecast to 2025

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Report Code
MD 4362
RI Published ON
6/30/2020
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