Global Veterinary Reference Laboratory (VRL) Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Veterinary Reference Laboratory (VRL) Market” is an upcoming market research report by MarketResearch.biz. The report provides insights into various restraints, drivers, ongoing trends and opportunities in the global market and their effects on revenue growth. The report also presents details on revenues from segments and major countries in different regions. Moreover, the report includes company profiles of the key players in the global veterinary reference laboratory market. The profiles of key players provide an understanding of details such as headcount, company location, CEO (current), annual revenue, date of establishment, revenue from key segments, operating segments, focus areas, recent developments, including strategic agreements, mergers & acquisitions, legal challenges (if any), contact information, and expansion. The global veterinary reference laboratory market research report is segmented on the basis of technology, application, animal type, and regions/countries.

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Overview

Veterinary reference laboratories are potent tools that are critical for the prevention of zoonotic diseases and helps in the promotion of animal health & welfare, public health, and safe food and production. The number of veterinary reference laboratories has been increasing due to the rise in the number of animal disease incidents. Diseases in animals are diagnosed by these laboratories. There has been an increase in the adoption of pets by people for companionship as a result of ever-hectic personal & professional life schedules. As there are several contagious diseases that humans can pick up from animals, the need for centers to identify animal diseases and prevent them are most necessary.

Dynamics

The demand for animal health diagnostics and monitoring services has been increasing due to the rising global prevalence of zoonotic diseases, which is anticipated to positively fuel the global veterinary reference laboratory market over the coming years. Furthermore, zoonotic diseases are a major cause of public health problems. Zoonotic diseases are categorized as viral, bacterial, and parasitic. Zoonotic infections can be spread by mosquitoes, fleas, ticks or even contact with animals. Lyme and rabies are also caused by zoonotic infections. This is projected to increase the number of veterinary reference laboratories being initiated over the coming years for the general betterment of all animals. The rising awareness among consumers regarding the need to invest in maintaining the health of animals to prevent the outbreak of diseases is projected to increase the adoption of veterinary diagnostics. This, in turn, is projected to contribute to the growth of the global veterinary reference laboratory market over the next ten years. In addition, the requirement for laboratory testing services has been on the rise due to stringent regulations by governments on animal health in the agricultural sector. Another factor that is projected to drive market growth is the increasing use of veterinary software in laboratories. However, unaffordable testing costs by farmers may restraint market growth. Continuous technological advancements and new product launches are projected to create growth opportunities for key players in the global veterinary reference laboratory market over the foreseeable future.

Global Veterinary Reference Laboratory (VRL) Market Segment Analysis:

By Technology: The clinical technology segment continues to account for the highest revenue share when compared to other technology segments. This can be attributed to its wide applications in diagnosing and monitoring diseases.

By Application: The clinical pathology segment is projected to continue to account for the majority revenue share over the coming years. This can be attributed to its wide adoption for routine pet health monitoring. Also, these laboratories make available a wide variety of tests such as complete blood cell count, chemistry analysis, coagulation profiles, cross-match, blood gas analysis, cytology studies, and endocrine testing.

Global Veterinary Reference Laboratory (VRL) Market Regional Analysis:

The veterinary reference laboratory market in North America is expected to continue to account for the majority revenue contribution over the next ten years. This can be attributed to advanced healthcare infrastructures, the presence of prominent market players, and high healthcare expenditures. The Asia Pacific market is projected to index the fastest revenue growth over the foreseeable future due to the establishment of VRLs by major global players, an increase in animal healthcare expenditures, and the presence of unmet clinical needs.

Global Veterinary Reference Laboratory (VRL) Market Segmentation: 

By Technology:

• Clinical Chemistry
• Hematology
• Immunodiagnostics
  • ELISA
  • Lateral Flow Rapid Tests
  • Others
• Molecular Diagnostics
  • PCR
  • Microarrays
  • Others
• Others

By Application:

• Clinical Pathology
• Toxicology
• Productivity Testing
• Others

By Animal Type:

• Production Animals
• Companion Animals

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa