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The veterinary reference laboratory market is estimated to represent a global market of USD 2.48 billion by 2017 with growth rate of 10.3%.
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Increasing prevalence of zoonotic diseases is expected to be an important factor driving the growth of veterinary reference laboratory market. According to the Centers for Disease Control and Prevention, large number of people affected with the infections spread through direct or indirect human-animal interface. Also, the WHO stated that zoonotic diseases represent significant public threat and demand proper diagnosis and treatment approach. Furthermore, growing consumption of animal proteins, and thus the expenditure on animal health is also expected to be a factor helping to catalyze this industry growth. According to various research studies, the global demand for animal protein is increasing at constant rate. From 2015 to 2030, the meat production is projected to increase by more than 1 percent annually. This growth will be driven by the increasing preference of people from a vegetarian diet to animal proteins. Such factors would in turn surge in demand for veterinary reference laboratories, driving the industry growth. Other factors such as rising demand for animal derived food products, increasing number of veterinary practitioners, and rising pet care cost augment the overall market growth to some extent. However, low awareness level regarding animal healthcare, especially in developing regions, hamper the market growth during the study period.
The global veterinary reference laboratory market is divided in terms of technology, application, and animal types. Based on technology, the market is divided into Hematology, Clinical Chemistry, Molecular Diagnostics, and Immunodiagnostics. In 2016, clinical chemistry segment recorded USD 639.8 million and is projected to dominate the overall market in foreseeable future. This segment covers the various tests of blood and urine samples to check the function and capability of animal metabolisms and organs. Applications segment is categorized as Bacteriology, Clinical Pathology, Toxicology, and Productivity Testing. The market, by animal type is divided as Companion Animals, and Production Animals. Companion animals include Dogs, Cats, and others. Whereas, production animal covers Poultry, Cattles, and others.
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Depending upon geography, North America dominated the global industry in 2016. Of which, the U.S. market for VRL is growing consistently, and is in a state of transition. High prevalence of livestock and zoonotic diseases coupled with the rising pet ownership support the industry growth in this region. While the industry is on a high growth trajectory in developed regions, the overall market appears to be growing at a promising growth rate in developing regions. Among which, Asia Pacific regions accounted for more than 15% share of the total market, followed by ELISA tests and PCR tests accounting for majority of revenue share in region.
Key Vendor Takeaway
Companies such as IDEXX Laboratories, VCA, Inc., Greencross Limited, Zoetis, and Neogen Corporation are some of the prominent participants in the global veterinary reference laboratories market. VCA, Inc. and IDEXX, collectively, captured highest (more than 60%) share of the global industry. At the same time, small scale companies are actively engaged in providing comprehensive veterinary laboratory services to capture significant market share. For instance, U.S. based veterinary medicine company, VCA Inc., offers advanced veterinary laboratory testing and imaging procedures in all states of the U.S. and certain areas in Canada. The company has diverse range of customer base (over 16,000) including veterinary hospitals. In 2014, the company registered approx. USD 360.9 million (16% of the total revenue) from laboratory segment.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year-2014 & 2016
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TECHNOLOGY
MARKET, BY APPLICATION
MARKET, BY ANIMAL TYPE
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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