The Factors such as growth in the companion animal population, rising demand for pet insurance, increasing demand for animal-derived food products, an increasing number of veterinary practitioners in developed economies and increasing incidence of transboundary and zoonotic diseases are driving the growth of this market during the forecast period. However, rising pet care costs and the increasing demand for POC testing and portable instruments are restraining the growth of this market to some extent.
According to the new market research report Veterinary Reference Laboratory Market is projected to reach $5.6 billion by 2025, at a CAGR of 10.5%.
In 2019, the clinical pathology segment accounted for the largest market share. Based on application, the market is segmented into clinical pathology, bacteriology, virology, parasitology, productivity testing, pregnancy testing, and toxicology. The rising volume of pathology tests performed is the major factor driving the demand for diagnostic products and consumables for clinical pathology applications.
Prominent players in the global Veterinary Reference Laboratories Market are IDEXX Laboratories, Inc. (US), Zoetis Inc. (US), Neogen Corporation (US), VCA, Inc. (US), GD Animal Health (Netherlands), Boehringer Ingelheim (Germany), ProtaTek International (US), Texas A&M Veterinary Medical Diagnostic Laboratory (US), Veterinary Diagnostic Laboratory - University of Minnesota (US), and Veterinary Diagnostic Laboratory, Iowa State University (US).
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256972714