Veterinary Reference Laboratory Market Size, Share, Growth Analysis, By Type(Clinical chemistry testing and molecular diagnostics), By Region - Industry Forecast 2024-2031

Veterinary Reference Laboratory Market size was valued at USD 3.71 billion in 2021 and is poised to grow from USD 4.11 billion in 2022 to USD 9.41 billion by 2030, growing at a CAGR of 10.9% in the forecast period (2023-2030).

The veterinary reference laboratory market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Veterinary Reference Laboratory. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'IDEXX Laboratories (United States)', 'Zoetis Inc. (United States)', 'Neogen Corporation (United States)', 'Idexx Laboratories (United States)', 'Boehringer Ingelheim GmbH (Germany)', 'Mars, Incorporated (United States)', 'GD Animal Health (Netherlands)', 'Heska Corporation (United States)', 'Thermo Fisher Scientific Inc. (United States)', 'Virbac (France)', 'Biomerieux SA (France)', 'Eurofins Scientific (Luxembourg)', 'VCA Inc. (United States)', 'Bio-Rad Laboratories, Inc. (United States)', 'QIAGEN N.V. (Netherlands)', 'IDEXX Laboratories, Inc. (United States)', 'Charles River Laboratories International, Inc. (United States)', 'Neogen Corporation (United States)', 'Abaxis, Inc. (United States)', 'National Veterinary Services Laboratories (United States)'

One driver of the veterinary reference laboratory market is the increasing pet ownership and the growing demand for advanced veterinary diagnostics. As more people consider their pets as family members, there is a rising awareness about the importance of veterinary healthcare and the need for accurate and reliable diagnostic testing. This drives the demand for veterinary reference laboratory services that provide a wide range of diagnostic tests and specialized expertise to diagnose and monitor animal health conditions.

One key market trend in the veterinary reference laboratory market is the increasing demand for specialized diagnostic services. Veterinary reference laboratories are witnessing a growing need for advanced testing and accurate diagnosis in animals, driven by the rising prevalence of complex diseases and the need for specialized veterinary care. Veterinary reference laboratories are expanding their test offerings to include a wide range of diagnostic services, including molecular diagnostics, pathology, immunology, and microbiology. This trend is fueled by the growing awareness among pet owners and veterinarians about the benefits of early and accurate diagnosis, leading to improved treatment outcomes and better animal healthcare.

One dominant region in the veterinary reference laboratory market is North America. This region has a well-established veterinary healthcare infrastructure, advanced diagnostic facilities, and a high level of awareness about animal health. North America is home to several major players in the veterinary diagnostics industry, and it has a large market share in terms of revenue. The region is characterized by a strong regulatory framework, a high level of veterinary healthcare expenditure, and a growing focus on preventive care and early disease detection in animals.