The Veterinary Laboratory Testing market is witnessing a boom driven by a global increase in puppy possession. As more humans welcome pets into their houses, there's a parallel upward thrust in spending on veterinary offerings, along with laboratory checking out for preventive care, diagnostics, and treatment-making plans. A shift in puppy healthcare towards preventive measures is influencing the Veterinary Laboratory Testing market. Pet owners are increasingly opting for routine laboratory tests to locate early symptoms of illnesses, contributing to the demand for comprehensive veterinary diagnostics.
Technological improvements in diagnostic tools and laboratory systems are transforming the veterinary testing panorama. Innovations along with molecular diagnostics, superior imaging techniques, and factor-of-care testing are improving the accuracy and performance of veterinary laboratory diagnostics, using market increase. The incidence of zoonotic sicknesses and the potential transmission of diseases among animals and human beings have heightened awareness of the significance of Veterinary Laboratory Testing. This concern for public fitness is riding accelerated checking out for diseases that have implications for each animal and human population.
The upward thrust of specialty and reference laboratories dedicated to veterinary diagnostics is an amazing marketplace fashion. These laboratories provide specialized checking-out offerings, catering to animal species or kinds of tests, offering veterinarians and puppy proprietors access to a wider variety of diagnostic abilities. In the agricultural area, concerns about cattle fitness and food protection are influencing the Veterinary Laboratory Testing marketplace. Farmers and manufacturers are more and more counting on laboratory testing to monitor and ensure the fitness of their farm animals, in addition to complying with meal protection guidelines.
The adoption of telemedicine in veterinary care is impacting the Veterinary Laboratory Testing market. Remote consultations with veterinarians regularly involve the recommendation of laboratory checks, using the want for available and green testing offerings that can help telehealth initiatives in veterinary medicinal drugs. The globalization of the veterinary laboratory testing market is obvious as groups expand their operations to serve a broader geographical market. This growth is fueled by the increasing demand for superior diagnostic offerings in both evolved and rising economies.
The veterinary laboratory testing market is expected to rach USD 15.8 billion by 2030 at CAGR of 10.4% during the forecast period 2022-2030.
Veterinary healthcare refers to a subset of science that deals with diagnosing, treating, and preventing various diseases in animals to expand their lifespan. It involves several services, including regular monitoring of animal health and deployment of medicated animal feeds, diagnostic products, drugs, and vaccines for limiting the spread of zoonotic diseases among animals and people. These amenities are extensively provided by the sole traders, pharmacies, veterinary hospitals, clinics, and laboratory testing services. Veterinary healthcare facilities are available for both companions and livestock animals.
The global veterinary healthcare market is driven by the increasing prevalence of various zoonotic, food-borne, and chronic diseases, such as cancer, especially among cats and dogs. This is further supported by the emerging trend of pet humanization and the increasing concerns of pet owners toward animal health, which, in turn, is facilitating the demand for preventive and more sophisticated veterinary services and therapeutic and diagnostics treatments. In line with this, significant technological advancements, such as introducing veterinary health information systems for efficient data management, are another growth-inducing factor. These devices assist in diagnosing animal health, facilitating real-time analysis of disease fluctuations, recording information on cloud-based platforms, and sharing essential veterinary clinic-generated data with clinicians and researchers directly through the internet.
Segmentation
The 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.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market of veterinary laboratory testing in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European veterinary laboratory testing market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.Â
The market of veterinary laboratory testing in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market of veterinary laboratory testing in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Veterinary Laboratory Testing Market Share (%), by Region
Source: Centers for Disease Control and Prevention (CDC), Eurostat, White Papers, Company Presentations, Annual Reports
Geographically, the Americas is anticipated to dominate the veterinary laboratory testing market owing to increasing cases of animal disease and technological advancements in veterinary diagnostics.
For instance, in 2016, IDEXX Laboratories, Inc. launched the Rapid Visual Pregnancy Test for cattle. With the new test, veterinarians can more quickly identify open cows using whole blood samples collected before the farm visit.
Europe is expected to hold the second largest position in the market of veterinary laboratory testing . The market growth in this region is attributed to the rising expenditure on pet insurance.
The Veterinary Laboratory Testing Market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the awareness regarding use of sterile consumables for lab testing and rising healthcare spending.
The Middle East & Africa contributes least in the global market for veterinary laboratory testing.
Veterinary Laboratory Testing Animal Type Outlook
Veterinary Laboratory Testing Technology Outlook
Veterinary Laboratory Testing Product Outlook
Veterinary Laboratory Testing End User Outlook
Veterinary Laboratory Testing Region Outlook
Veterinary Laboratory Testing Market, by Key Players
Recent Development
May 2020
In May 2020, the United States Department of Agriculture’s (USDA) National Veterinary Services Laboratories confirmed SARS-CoV-2 in one tiger at a zoo in New York. As per the World Organization for Animal Health, as of 2020, there are approximately 117 animal diseases, infections, and infestations. In addition, with the rising pet ownership and increasing awareness, the veterinary diagnostics market is expected to grow over the forecast period.Intended Audience
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)