The global veterinary laboratory testing market Market is expected to grow at a CAGR of 10.1% during the forecast period.
Primary Drivers and Barriers
The mounting number of surgeries of pets, particularly in emerging nations facilitates the growth of the veterinary laboratory testing market. The key surgical procedures are dental, cataract, wound repair, hip dysplasia, and spay or neuter. Other factors include dramatic growth in the number of veterinary laboratory practitioners and the surge in technological advances in terms of new products and tools. The market growth is further bolstered by the escalation in health insurance for animals, burgeoning population of companion animals along with the soaring number of government initiatives to deal with the surge in zoonotic diseases.
Significant rise in periodontal issues among pets paired with the huge preference for high quality diagnostic testing options drives the global market growth. The rise in oral surgeries as well as periodontal surgeries has raised the demand for veterinary laboratory testing services.
Health issues such as obesity among pets and companion animals have surged considerably over the years, leading to heart diseases, diabetes, dental problems, and osteoarthritis. Majority of these conditions boost the need for veterinary laboratory testing services. Huge breakthroughs within the veterinary field benefits the global industry as well.
North America secures the lead in the global market for veterinary surgical instruments study guide, given the surging use of diagnostic tests as animal diseases continue to rise in the region. The lead has been taken by the United States, on account of the surging awareness level among the population about the latest laboratory-based diagnostics for their pets. The significant rise in technological advances in veterinary diagnostics is bound to raise the market demand in the following years.
Europe forms the second biggest market for veterinary laboratory testing services, in view of the surge in technical developments and the rising awareness among people. The burgeoning pool of animals like buffaloes, goats, and cow affected by different diseases would elevate the market position more in the years to come.
In Asian countries, the veterinary laboratory testing market is relatively new, but the progress rate in the years ahead is expected to be quite significant. Diseases such as rabies, which require detection via veterinary testing, are very commonly left undiagnosed in the region, leading to several deaths. As a result, countries like India have been increasingly adopting veterinary laboratory testing services and equipment to address the issue.
The global veterinary laboratory testing market has been segmented into animal type, technology, product, and end user.
The market, on the basis of animal type, has been segmented into companion animal and livestock animal. The companion animal segment is further classified as dogs, cats, horses and others. The livestock animal segment is further classified as cattle, pigs, poultry and others.
The market, by technology, has been segmented into clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and others.
The clinical biochemistry segment is further classified as clinical chemistry analysis, glucose monitoring, and blood gas & electrolyte analysis. The clinical chemistry analysis segment includes clinical chemistry reagent clips and cartridges and clinical chemistry analyzers. The glucose monitoring segment includes blood glucose strips, glucose monitors and urine glucose strips. The blood gas & electrolyte analysis segment includes blood gas and electrolyte reagent clips and cartridges and blood gas & electrolyte analyzers.
The immunodiagnostics segment is further classified as ELISA tests, lateral flow assays, allergen-specific immunodiagnostic tests, immunoassay analyzers, and others. The lateral flow assays segment includes lateral flow rapid tests, and lateral flow strip readers.
The hematology segment is further classified as hematology cartridges, and hematology analyzers.
The molecular diagnostics segment is further classified as polymerase chain reaction (PCR) tests, microarrays, and others.
The urinalysis segment is further classified as urinalysis clips & cartridges/panels, urine analyzers, and urine test strips.
The market, by product, has been segmented into consumables and instruments.
The market, by end user, has been segmented into veterinary hospitals & clinics, in-house testing, research institutes, diagnostic laboratories, and others. The veterinary hospitals & clinics segment held the largest segment of the market in 2017. This can be attributed to the increasing incidence of zoonotic diseases. On the other hand, the academic institutes segment is estimated to be the fastest growing segment.
Some of the prominent players in the global veterinary laboratory testing market are Abaxis, Inc., BIOCHECK Inc., Biomérieux SA, Henry Schein, Inc., Heska Corporation, Idexx Laboratories, Idvet, Neogen Corporation, Pfizer, Qiagen N.V., Randox Laboratories, Ltd., Thermo Fisher Scientific, VCA Inc., Virbac, Zoetis, Inc. and others.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071