Veterinary reference laboratories market – Size, Share, Trends Global Forecast
The global veterinary
reference laboratory market is projected to reach USD 2.8 billion by
2021 from USD 1.7 billion in 2016, at a CAGR of 9.8%.
The global veterinary reference laboratories market is
dominated by IDEXX Laboratories, Inc. (U.S.) and VCA, Inc. (U.S.) which
together accounted for ~60-65% of the global market in 2015.
The leading position of IDEXX Laboratories, Inc. (U.S.)
in this market is mainly attributed to its strong diagnostic service portfolio
and strong distribution and services network across the globe. The company
operates in more than 175 countries across North America, Europe, Asia-Pacific,
and the Rest of the World. The company has a diversified revenue system which
helps it to sustain its leading position in the market. IDEXX Laboratories
primarily focuses on strengthening its veterinary diagnostic testing services
portfolio and aims to maintain customer satisfaction by providing accurate and
timely responses and resolutions to customer needs. The company has staff with
expertise in veterinary practices who actively contribute in animal healthcare
and well-being programs to offer quality and innovative services to customers.
VCA, Inc. held the second-largest share in the veterinary
diagnostics market in 2015. The company has a strong presence across the U.S.
and Canada for its animal care business. The reference laboratories network of
the company consists of 33 laboratories across the 50 states of North America
and provides diagnostic testing services for more than 15,000 clients including
standard hospitals for small animals, large animal practices, universities, and
other government organizations. To garner the leading position in veterinary
reference laboratories market, the company is highly focused on nourishing its
operational network of healthcare facilities to provide quality animal
healthcare services. For instance, in March 2015, the company acquired all the
assets of the Abaxis Veterinary Reference Laboratories (U.S.). The company’s
business strategy is to continue expanding its market leadership in animal
healthcare services through its diagnostic laboratory, animal hospital and
medical technology segments. It strives to provide the finest quality pet
health care and excellent client service in a warm and friendly environment.
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Industry players adopted the strategy of new service
launches to achieve growth in the global veterinary reference laboratories market.
For instance, in January 2015, IDEXX Laboratories introduced the IDEXX SDMA
test, a kidney disease detector to its diagnostic services portfolio.
Similarly, in August 2013, the company has launched two allergy tests for dogs
in their reference laboratory services. In addition; the agreements,
collaborations, and partnerships were pursued by global players to garner a
larger share in the global veterinary reference laboratories market. In this
regard, in June 2014, Zoetis, Inc. has entered into a service and development
agreement with Eureka Genomics (U.S.) to gain access to Eureka Genomics’
proprietary Next Generation Genotyping (NGG) technology for its genetics
business in cattle and sheep.
Some of the major players competing in the global
veterinary reference laboratories market are IDEXX Laboratories, Inc. (U.S.),
VCA, Inc. (U.S.), GD Animal Health (Netherlands), National Veterinary Services
Laboratory (U.S.), Animal and Plant Health Agency (DEFRA APHA Scientific)
(U.K.), Animal Health Diagnostic Center (Cornell University) (U.S.), Greencross
Limited (Australia), Gribbles Veterinary Pathology (Australia), Phoenix Central
Laboratory for Veterinarians, Inc. (U.S.), Zoetis, Inc. (U.S.), Neogen
Corporation (U.S.), ProtaTek Internationals Inc. (U.S.), Wisconsin Veterinary
Diagnostic Laboratory (U.S.), and Washington State University Veterinary
Clinical Pathology Laboratory (U.S.).
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