What is Veterinary Reference Laboratory?
Infectious diseases of animals play an important role in most sectors of veterinary medicine, particularly in the light of economic losses inflicted by such disease. The Veterinary Reference Laboratory deal with study of infectious veterinary diseases. These laborites help in assisting veterinary officers in diagnosing infectious animal diseases and confirming that an animal population is free from a defined infectious disease. According a secondary source, Iowa state university’s animal agriculture provides approximately USD 14.620 billion in direct economic output and livestock processing provides USD 17.960 billion in direct economic output. In 2017, lowa veterinary laboratory has processed and submitted total 85,923 cases. The growing number of zoonotic diseases has majorly driven the market growth.
The market study is broken down by Type (Clinical Chemistry Services, Immunodiagnostic Services, Hematology Services, Urinalysis Services, Molecular Diagnostic Services and Other (Microbiology Tests, Histopathology Tests)), by Application (Clinical Pathology, Bacteriology, Parasitology, Virology, Productivity Testing, Pregnancy Testing and Toxicology) and major geographies with country level break-up. and may see market size of USD10.24 Million by 2027.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IDEXX Laboratories, Inc. (United States), VCA Inc. (United States), GD Animal Health (Netherlands), Zoetis Inc. (United States), Neogen Corporation (United States), Boehringer Ingelheim (Germany), Marshfield Labs (United States), ProtaTek International (United States), Texas A&M Veterinary Medical Diagnostic Laboratory (United States), University of Minnesota (United States) and Iowa State University (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Protatek International Inc. (United States), Animal and Plant Health Agency (United Kingdom) and The Pirbright Institute (England).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Veterinary Reference Laboratory market by Type, Application and Region.
On the basis of geography, the market of Veterinary Reference Laboratory has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Animal Type, the sub-segment i.e. Companion Animals {Dogs, Cats, Horses, Other} will boost the Veterinary Reference Laboratory market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Laboratory Type, the sub-segment i.e. Public will boost the Veterinary Reference Laboratory market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In November 2019, Zoetis completed acquisition of ZNLabs, a nationwide veterinary reference laborator. This acquisition was aimed to strengthen Zoetis’s comprehensive diagnostics portfolio and enhances value proposition to its veterinary customers.
Market Trend
- Outsourcing of Veterinary Diagnostic Testing Services
Market Drivers
- Growing Demand for Pet Insurance and Increasing Pet Care Expenditure
- Increasing Number of Veterinary Practitioners in Developed Economies
- Demand for Animal-Derived Food Products
Opportunities
- Public-Private Partnerships in Veterinary Health
- Innovation in Diagnostic Products for Quality Service Implementation
- High Focus towards the Veterinary Health
Restraints
- Increasing Pet Care Costs
- Growing Demand for Rapid Tests, Poc Testing, and Portable Instruments
Challenges
- Low Awareness in Emerging Markets
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Veterinary Reference Laboratory Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.