The global veterinary reference laboratory market is projected to reach USD 6.4 billion by 2027 from USD 4.1 billion in 2022, at a CAGR of 9.3% during the forecast period. The main factors driving this market are rising pet population in developed country, people are more interested in insuring their pets, and rising demand for milk and related products. However, increasing cost for animal treatment including diagnosis of animal and increasing adoption of Point of Care instruments are expected to hinder the growth of this market.
The global veterinary reference laboratory market are IDEXX Laboratories, Inc. (US), VCA, Inc. (US), GD Animal Health (Netherlands), Zoetis Inc. (US), NEOGEN Corporation (US), LABOKLIN GmbH (Germany), SYNLAB International GmbH (Germany), Heska Corporation (US), Virbac (US), Vaxxinova Gmbh (Netherlands), Thermo Fisher Scientific, Inc. (US), Texas A&M Veterinary Medical Diagnostic Laboratory (US), University of Minnesota (Veterinary Diagnostic Laboratory) (US), Iowa State University (Veterinary Diagnostic Laboratory) (US), Vetnostics (Australia), ProtaTek International Inc. (US), Animal and Plant Health Agency (UK), Animal Health Diagnostic Center (Cornell University) (US), National Veterinary Services Laboratory USDA-APHIS (US), Washington Animal Disease Diagnostic Laboratory (US), Colorado State University (Veterinary Diagnostic Laboratories) (US), The Pirbright Institute (UK), (Australia), Friedrich-Loeffler-Institute (FLI) (Germany), and Kansas State Veterinary Diagnostic Laboratory (US). These companies adopted strategies such as acquisitions, partnerships, expansions, and product launches to enhance their presence in the veterinary reference laboratory market.
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IDEXX Laboratories, Inc. was amongst the top 3 players in veterinary reference laboratories market, holding the largest share of 43–45% in 2021. This is mainly due to their service portfolio strength and company are actively conducting R&D activities in animal care segment. For instance, in June 2021, the company acquired ezyVet to further expand its cloud software to raise the standard of care for patients, improve practice efficiency, and enable more effective communication with pet owners.
VCA is the second-largest player after IDEXX Laboratories, Inc. amongst the top 3 players in the veterinary reference laboratories market. The company provides vast number of services in the veterinary diagnostics industry. The company has total 65 veterinary diagnostic laboratories, through this laboratories company provide service to more than 15,000 clients, including standard hospitals for small animals, large animal practices, and s universities. consulting services, and strong customer relationships. The company focuses on increasing its customer base to remain competitive in the market.
Veterinary Reference Laboratory Market by Service Type (Clinical Chemistry, Immunodiagnostics (ELISA), Molecular Diagnostics (PCR, Microarray)), Application (Pathology, Virology), Animal (Companion, Livestock), and Region - Global Forecast to 2027
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