PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1213644
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1213644
According to SPER Market Research, the Global Veterinary Reference Laboratory Market is estimated to reach USD 9.36 billion by 2032 with a CAGR of 7.84%.
During the anticipated period, the global veterinary reference laboratory market is anticipated to expand. The veterinary reference laboratory market has experienced rapid expansion due to the rising trend of pet adoption, rising demand for meat and dietary items made from animals, and rising costs associated with animal healthcare. Nevertheless, it is anticipated that over the course of the forecast period, the global veterinary reference laboratory market will be driven by factors such as the growing number of veterinary reference laboratory professionals, their rising income levels in developed countries, and increased awareness of animal illnesses. As more veterinary immunodiagnostic kits are used in applications including advanced diagnostic platforms and immunoassay formats, the industry growth is projected to accelerate. The need for veterinary health immunodiagnostics tests is also anticipated to increase throughout the forecasted period as a result of growing consumer demand for animal-derived products as well as companion and livestock animals.
Most industry have had negative effects as a result of COVID. This is attributable to the significant interruptions that various precautionary lockdowns and other restrictions imposed by governing bodies around the world created in their respective manufacturing and supply-chain operations. The same is true for the global market for veterinary reference labs. Additionally, because this outbreak has had such a negative influence on the general economic status of the majority of people, consumer demand has now fallen as people have become more inclined to eliminate non-essential expenditure from their own budgets. The aforementioned elements are predicted to have an adverse effect on the revenue trajectory of the global market for veterinary reference laboratories throughout the course of the forecast year. We predict a recovery in the worldwide veterinary reference laboratory market.
Market size available for years: 2019-2032
Base year considered: 2021
Forecast period: 2022-2032
Segments covered: By Technology, By Animal Type, By Application, By End User
Regions covered: Asia Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered: Boehringer Ingelheim, Colorado State University, Friedrich-Loeffler-Institute, GD Animal Health, Heska Corporation, IDEXX Laboratories Inc., IDVet, Kansas State Veterinary Diagnostic Laboratory, LABOKLIN GmbH, NEOGEN Corporation, Prota Tek International Inc., SYNLAB International GmbH, Texas A&M Veterinary Medical Diagnostic Laboratory, The Pirbright Institute, Thermo Fisher Scientific Inc., VCA, Inc., Vetnostics, Virbac, Washington Animal Disease Diagnostic Laboratory, Zoetis Inc.