in the forecast period. Factors such as the growth of the pet population, the increasing demand for pet insurance, an increasing number of veterinarians in developed countries, the increasing demand for animal food and the increasing incidence of cross-border and zoonotic diseases are driving growth in the market.
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However, rising pet care costs and increasing demand for POC testing and portable instruments are holding back the growth of this market to some extent.
The immunodiagnostic services segment is expected to make up the largest share of the veterinary reference laboratory market
The immunodiagnostic services segment had the largest share of the veterinary reference laboratory market. The large portion of this segment is primarily due to the widespread popularity of immunodiagnostics for diagnosing disease, screening disease progression, and monitoring patient response to therapy.
The clinical pathology segment is expected to make up the largest share of the veterinary reference laboratory market
In terms of application, the Clinical Pathology segment had the largest share of the Veterinary Reference Laboratory market in 2020. The increasing volume of pathology tests performed is the main factor behind the demand for diagnostic products and consumables for clinical pathology applications.
The pet segment is expected to make up the largest share of the veterinary reference laboratory market
Based on animal type, pets made up the largest share of the veterinary reference laboratory market. This segment is also expected to have the highest CAGR in the forecast period.
The high share and growth rate of this segment is largely due to the increasing adoption of pets, rising disposable incomes, the growing willingness of pet owners to spend more on animal health, and the increasing incidence of zoonotic diseases.
North America will dominate the veterinary reference laboratory market over the forecast period
North America had the largest share of the veterinary reference laboratory market in 2020. The growth of the North American market is due to increased pet adoption, the growing pet insurance industry, increasing spending on veterinary health care, and the growing number of veterinary practices.
Additionally, most of the players in the Veterinary Reference Laboratory market are based in the United States.
Below is a breakdown of the key entrants to the Veterinary Reference Laboratory Market referred to in this report:
• By type of company: Tier 1–60%, Tier 2–30% and Tier 3–10%
• By designation: C-Level – 30%, Director-Level – 50% and others – 20%
• By region: North America – 45%, Europe – 15%, Asia Pacific – 25%, Latin America – 10%, Middle East and Africa – 5%
Major players in the veterinary reference laboratory market include IDEXX Laboratories, Inc. (USA), VCA, Inc. (USA), GD Animal Health (Netherlands), Boehringer Ingelheim (Germany), Zoetis Inc. (USA), NEOGEN Corporation (USA), LABOKLIN GmbH (Germany), SYNLAB International GmbH (Germany), Heska Corporation (USA), Virbac (USA), Thermo Fisher Scientific, Inc. (USA), Texas A&M Veterinary Medical Diagnostic Laboratory (USA), University of Minnesota (Veterinary Diagnostic Laboratory) (USA), Iowa State University (Veterinary Diagnostic Laboratory) (USA), Vetnostics (Australia), ProtaTek International Inc. (USA), Animal and Plant Health Agency (UK), Animal Health Diagnostic Center (Cornell University.)) (USA), National Veterinary Services Laboratory USDA-APHIS (USA), Washington Animal Disease Diagnostic Laboratory (USA), Colorado State University (Veterinary Diagnostic Laboratories) (USA), The Pirbright Institute (UK), IDVet (France ), Friedrich-Loeffle r Institute (FLI) (Germany) and Kansas State Veterinary Diagnostic Laboratory (USA).
Research coverage:
The report analyzes the market for various Veterinary Reference Laboratories and their acceptance patterns. It aims to estimate the market size and future growth potential of the global Veterinary Reference Laboratory market and various segments such as service type, application, animal type, and region.
The report also provides an in-depth competitive analysis of the major players in this market along with their company profiles, product and service offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established companies as well as new entrants / smaller companies to keep the pulse of the market which in turn would help them gain a larger share. Companies that purchase the report can use any one or any combination of the five strategies listed below to increase their market presence.
This report provides insights into the following notices:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the global veterinary reference laboratory market
• Product Development / Innovation: In-depth insight into upcoming trends, R&D activities, and product or service launches in the global Veterinary Reference Laboratory Market
• Market development: Comprehensive information on the lucrative emerging regions by service type, application, animal type and region
• Market Diversification: Comprehensive information on new products, growing regions, and recent developments in the global Veterinary Reference Laboratory Market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, sales analysis, as well as products and services of leading players in the global Veterinary Reference Laboratory market.
Read the full report: https://www.reportlinker.com/p03893220/?utm_source=GNW
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