Veterinary Laboratory Testing Service Market 2021: Size, Share, Analysis and Forecast-2027
Veterinary Laboratory Testing Service Market 2021
Veterinary Laboratory Testing Service Market was wroth USD 2200 million in the year 2017, reveals MRFR (Market Research Future). At a rate of 10.1%, the global market will be covering considerable grounds between 2020 and 2027 (forecast period).
Primary Drivers and Barriers
The mounting number of surgeries of pets, particularly in emerging nations facilitates the growth of the Veterinary Laboratory Testing Service Market. The key surgical procedures are dental, cataract, wound repair, hip dysplasia, and spay or neuter. Other factors include dramatic growth in the number of veterinary laboratory practitioners and the surge in technological advances in terms of new products and tools. The market growth is further bolstered by the escalation in health insurance for animals, burgeoning population of companion animals along with the soaring number of government initiatives to deal with the surge in zoonotic diseases.
Significant rise in periodontal issues among pets paired with the huge preference for high quality diagnostic testing options drives the global market growth. The rise in oral surgeries as well as periodontal surgeries has raised the demand for veterinary laboratory testing services.
Health issues such as obesity among pets and companion animals have surged considerably over the years, leading to heart diseases, diabetes, dental problems, and osteoarthritis. Majority of these conditions boost the need for veterinary laboratory testing services. Huge breakthroughs within the veterinary field benefits the global industry as well.
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Major Key Players:
Some of the prominent players in the global Veterinary Laboratory Testing Service Market are Abaxis, Inc., BIOCHECK Inc., Biomérieux SA, Henry Schein, Inc., Heska Corporation, Idexx Laboratories, Idvet, Neogen Corporation, Pfizer, Qiagen N.V., Randox Laboratories, Ltd., Thermo Fisher Scientific, VCA Inc., Virbac, Zoetis, Inc. and others.
Segmentation
The market for veterinary laboratory testing can be segregated into animal type, technology, product, and end user.
The worldwide market, depending on animal type, caters to companion animal as well as livestock animal. The types of companion animals listed in the report are horses, cats, dogs, and others. The types of livestock animals covered are poultry, pigs, cattle, and more.
The primary technologies considered in the study are urinalysis, immunodiagnostics, clinical biochemistry, molecular diagnostics, hematology, and others.
Key product-based segments are consumables along with instruments.
The industry end users are in-house testing, veterinary hospitals & clinics, diagnostic laboratories, research institutes, and others.
Regional Analysis
Geographically, the Americas is anticipated to dominate the global Veterinary Laboratory Testing Service Market owing to the increasing cases of animal disease and technological advancements in veterinary diagnostics. For instance, in 2016, IDEXX Laboratories, Inc. launched the Rapid Visual Pregnancy Test for cattle. With the new test, veterinarians can more quickly identify open cows using whole blood samples collected before the farm visit. Europe is expected to hold the second largest position in the global Veterinary Laboratory Testing Service Market. The market growth in this region is attributed to the rising expenditure on pet insurance. The Veterinary Laboratory Testing Service Market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the awareness regarding use of sterile consumables for lab testing and rising healthcare spending. The Middle East & Africa contributes least in the global market for veterinary laboratory testing.
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