Veterinary Reference Laboratory Market: Exploring Growth Opportunities and Challenges
According to research report the global Veterinary Reference Laboratory Market size is anticipated to surge to USD 6.4 billion by 2027 from its 2022 value of USD 4.1 billion, with a projected Compound Annual Growth Rate (CAGR) of 9.3% over the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256972714
The
growth drivers include the increasing number of veterinarians in
developed nations and the rising incidence and prevalence of zoonotic
diseases. However, the escalating treatment costs for both companion and
livestock animals might impede market growth. Nevertheless, untapped
emerging markets and public-private partnerships in veterinary health
present significant opportunities, although challenges such as low
awareness in emerging markets and a shortage of veterinarians in the
veterinary reference laboratory market persist among key players.
By
Service type, the clinical chemistry services segment is anticipated to
hold the largest market share. This segment's dominance can be
primarily attributed to the widespread use of chemistry analyzers for
analyzing various reference laboratory tests, such as metabolic
profiles, electrolyte profiles, and protein analyses in both companion
and livestock animals.
By Application type, the clinical
pathology segment is expected to claim the largest share of the
veterinary reference laboratory market. This segment's predominance is
primarily due to the increasing volume of clinical pathology tests
conducted in veterinary reference laboratories worldwide.
By
Animal type, the cattle segment is expected to dominate the veterinary
reference laboratory market for livestock animals. In 2021, the cattle
market held the largest share, driven by the increasing demand for milk
and related dairy products.
Germany is poised to lead the European veterinary reference laboratory market during the forecast period. In 2021, Germany accounted for the largest share, fueled by factors such as a growing pet population, increased awareness about pet healthcare, rising pet healthcare expenditures, and heightened awareness about zoonotic diseases.
Request For Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=256972714
Prominent players in the Veterinary Reference Laboratory Market are IDEXX Laboratories, Inc. (US), VCA, Inc. (US), GD Animal Health (Netherlands), Zoetis Inc. (US), NEOGEN Corporation (US), LABOKLIN GmbH (Germany), SYNLAB International GmbH (Germany), Heska Corporation (US), Virbac (US) and Thermo Fisher Scientific, Inc. (US).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Comments
Post a Comment