DUBLIN, Dec. 9, 2019 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
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%.
The growth in this market is driven by the growth in the companion animal population, rising demand for pet insurance, and growth in the number of veterinary practitioners in developed economies. However, the growing demand for rapid tests and portable instruments for point-of-care (POC) services and increasing pet care costs are expected to restrain market growth to a certain extent.
The clinical chemistry segment is projected to witness the highest growth in the veterinary reference laboratories market, by type of service, during the forecast period
Based on the type of service, the veterinary reference laboratories market is segmented into clinical chemistry, immunodiagnostics, hematology, urinalysis, molecular diagnostics, and other services. The clinical chemistry segment is projected to register the highest CAGR during the forecast period. The high growth in this market can be attributed to the increased preference for various advanced clinical diagnostic services by veterinarians, pet owners, and laboratory technicians.
Clinical pathology is the fastest-growing application segment of the veterinary reference laboratories market
Based on application, the veterinary reference laboratories market is segmented into clinical pathology, bacteriology, virology, parasitology, productivity testing, pregnancy testing, and toxicology. The clinical pathology segment is expected to register the highest CAGR during the forecast period, primarily due to the large volume of pathology tests performed.
Companion animals dominate the veterinary reference laboratories market, by animal
Based on animal, the veterinary reference laboratories market is segmented into livestock animals and companion animals. The companion animals segment is expected to grow at the highest CAGR during the forecast period. The increasing adoption of companion animals and the increasing incidence of zoonotic diseases in these animals are the major factors driving the growth of this segment.
Asia Pacific market to witness the highest growth during the forecast period
Asia Pacific is expected to witness the highest growth during the forecast period (2019 to 2024), owing to factors such as rise in demand for pet insurance, increasing pet healthcare expenditure, growing population of food-producing animals and the need for animal-derived food products, rising awareness of zoonotic animals, and the growing number of veterinary hospitals and clinics in this region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Veterinary Reference Laboratories Market Overview
4.2 Asia Pacific: Market, By Type of Service & Country (2018)
4.3 Market: Geographic Growth Opportunities
4.4 Market: Regional Mix
4.5 Market: Developing vs. Developed Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Key Market Drivers
5.3.1 Growth in the Companion Animal Population
5.3.2 Growing Demand for Pet Insurance and Increasing Pet Care Expenditure
5.3.3 Increasing Number of Veterinary Practitioners in Developed Economies
5.3.4 Demand for Animal-Derived Food Products
5.3.5 Increasing Incidence of Trans-Boundary and Zoonotic Diseases
5.4 Key Market Restraints
5.4.1 Increasing Pet Care Costs
5.4.2 Growing Demand for Rapid Tests, Poc Testing, and Portable Instruments
5.5 Key Market Opportunities
5.5.1 Untapped Emerging Markets
5.5.2 Public-Private Partnerships in Veterinary Health
5.6 Key Challenges
5.6.1 Low Awareness in Emerging Markets
5.6.2 Shortage of Veterinarians in Emerging Markets
5.6.3 Weak Functional and Infrastructural Capacities
6 Industry Insights
6.1 Industry Trends
6.1.1 Adoption of Multiple Testing Panels
6.1.2 Outsourcing of Veterinary Diagnostic Testing Services
6.1.3 Innovation in Diagnostic Products for Quality Service Implementation
6.2 Disease Trends
6.2.1 Livestock Animals
6.2.1.1 Avian Influenza (AI)
6.2.1.2 African Swine Fever (ASF)
6.2.1.3 Bovine Babesiosis (BB)
6.2.1.4 Peste Des Petits Ruminants (PPR)
6.2.1.5 West Nile Virus (WNV)
6.2.2 Companion Animals
6.2.2.1 Zoonotic Diseases
6.2.2.2 Obesity & Diabetes
6.3 Regulatory Analysis
7 Veterinary Reference Laboratories Market, By Type of Service
7.1 Introduction
7.2 Immunodiagnostic Services
7.2.1 Low Cost & Procedural Complexity are Driving the Growth of This Segment
7.3 Clinical Chemistry Services
7.3.1 Increasing Pet Healthcare Expenditure and the Increasing Number of Screening Tests Performed to Drive Market Growth
7.4 Molecular Diagnostic Services
7.4.1 Growing Demand for Reliable and Faster Methods of Genetic Disorder Detection to Drive Market Growth
7.5 Hematology Services
7.5.1 Hematology Services are Used to Measure Blood Cell Count, Evaluate Leukocyte Morphology, and Count Coagulation Time of Blood in Animals
7.6 Urinalysis Services
7.6.1 Rising Occurrence of Kidney Diseases in Cats and Dogs to Support the Growth of This Segment
7.7 Other Services
8 Veterinary Reference Laboratories Market, By Application
8.1 Introduction
8.2 Clinical Pathology
8.2.1 Clinical Pathology Dominates the Market, By Application
8.3 Bacteriology
8.3.1 Rising Prevalence of Zoonotic Diseases Will Drive the Market for Bacteriology
8.4 Virology
8.4.1 Growing Number of Viral Outbreaks is Contributing to Market Growth in This Segment
8.5 Parasitology
8.5.1 Increasing Prevalence of Parasitic Diseases Will Support the Growth of This Application Segment
8.6 Productivity Testing
8.6.1 Increasing Focus on Quality of Milk and Meat is Driving the Demand for Productivity Testing Services
8.7 Pregnancy Testing
8.7.1 Focus on Breeding and Herd Management Programs Will Drive the Growth of Testing Services in This Segment
8.8 Toxicology Testing
8.8.1 Regulation of Animal Health to Avoid Feed and Animal-Derived Food Contamination is Driving Market Growth
9 Veterinary Reference Laboratories Market By Animal
9.1 Introduction
9.2 Companion Animals
9.2.1 Dogs
9.2.1.1 The Market for Dogs Dominates the Global Market
9.2.2 Cats
9.2.2.1 Rising Prevalence of Infectious Diseases in Cats Will Drive the Growth of This Segment
9.2.3 Horses
9.2.3.1 Global Equine Population has Witnessed Slow Growth in Recent Years
9.2.4 Other Companion Animals
9.3 Livestock Animals
9.3.1 Cattle
9.3.1.1 Early Diagnosis is Crucial as Cattle Contribute More Than 85% to the Global Milk Supply
9.3.2 Pigs
9.3.2.1 Need to Check Disease Outbreaks and Thereby Reduce Economic Losses is Driving the Demand for Swine Diagnostics
9.3.3 Poultry
9.3.3.1 Increasing Focus on Animal-Derived Protein Sources From Poultry Will Drive the Growth in This Segment
9.3.4 Other Livestock Animals
10 Veterinary Reference Laboratories Market, By Region
11 Competitive Landscape
11.1 Introduction
11.2 Growth Strategy Matrix
11.3 Market Share Analysis
11.4 Competitive Situation and Trends
11.5 Competitive Leadership Mapping
12 Company Profiles
12.1 Introduction
12.2 IDEXX Laboratories, Inc.
12.3 VCA, Inc.
12.4 GD Animal Health
12.5 Boehringer Ingelheim
12.6 Zoetis, Inc.
12.7 Neogen Corporation
12.8 Laboklin GmbH
12.9 Synlab International GmbH
12.10 Marshfield Labs
12.11 Texas A&M Veterinary Medical Diagnostic Laboratory
12.12 University of Minnesota (Veterinary Diagnostic Laboratory)
12.13 Iowa State University (Veterinary Diagnostic Laboratory)
12.14 Other Players
12.14.1 Protatek International Inc.
12.14.2 Animal and Plant Health Agency
12.14.3 Animal Health Diagnostic Center (Cornell University)
12.14.4 National Veterinary Services Laboratory Usda-Aphis
12.14.5 Znlabs
12.14.6 Colorado State University (Veterinary Diagnostic Laboratories)
12.14.7 The Pirbright Institute
12.14.8 Friedrich-Loeffler-Institut (FLI)
For more information about this report visit https://www.researchandmarkets.com/r/odyp9g
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