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% – Yahoo Finance

during the forecast period. The factors driving the growth of veterinary reference laboratory market during the forecast period are rising the animal population specially companion animals, many peoples are interesting in insuring their pets, rising the number of veterinary physicians in countries from developed region, and rising demand for milk and milk related dairy products, However, increase in animal care cost and increasing demand for point of care testing are expected to restrain market during forecast period.
New York, Dec. 26, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Veterinary Reference Laboratory Market by Service, Application, Animal And Region – Global Forecast to 2027” – https://www.reportlinker.com/p03893220/?utm_source=GNW

The immunodiagnostic services segment is expected to account for the second largest share of the veterinary reference laboratory market
The immunodiagnostic services segment accounted for the second largest share of the veterinary reference laboratory market in 2021. On the basis of technology, the immunodiagnostics service segment is further segmented into ELISA, lateral flow assays, and other immunodiagnostics services.

The clinical pathology segment is expected to grow with the highest CAGR of the veterinary reference laboratory market
Based on application, the veterinary reference laboratory market is segmented into clinical pathology, bacteriology, parasitology, virology, productivity testing, pregnancy testing, and toxicology testing.The clinical pathology segment is expected to grow with the highest CAGR of the veterinary reference laboratory market in 2021.

The growth of this segment is mainly due to the rising volume of pathology tests performed is the major factor driving the demand for diagnostic products and consumables for clinical pathology applications.

The dog segment is expected to account for the largest share of the veterinary reference laboratory market for companion animals
Based on animal type, the veterinary reference laboratory market for companion animal is segmented into dogs, cats, horses, and other companion animals.In 2021, the market for dogs accounted for the largest share of the veterinary reference laboratory market for companion animals.

The increasing incidence of zoonotic and chronic diseases and cases of parasitic infections in dogs has resulted in a higher demand for various diagnostic services.

The US to dominate the veterinary reference laboratory market during the forecast period
The US accounted for the largest share of the North American veterinary reference laboratory market in 2021.The growth of the US market can be attributed to the increasing adoption of companion animals, the growing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices.

In addition, a majority of players in the veterinary reference laboratory market are based in the US.

A breakdown of the primary participants for the veterinary reference laboratory market referred to for this report is provided below:
• By Company Type: 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 & Africa- 5%

The prominent players in the veterinary reference laboratory market include 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), GreenCross Limited (Australia), Friedrich-Loeffler-Institute (FLI) (Germany), and Kansas State Veterinary Diagnostic Laboratory (US).

Research Coverage:
The report analyzes the market for various veterinary reference laboratory and their adoption pattern.It aims at estimating the market size and future growth potential of the global veterinary reference laboratory market and different segments such as services type, application, animal type, and region.

The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global veterinary reference laboratory market
Product Development/Innovation: Detailed insights on the 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 services type, application, animal type, and region
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global veterinary reference laboratory market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products & 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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