Veterinary Reference Laboratory Market 2021 Scope of Current and Future Industry, SWOT Analysis and Investment Feasibility 2030

In a recently published report, Veterinary Reference Laboratory Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Veterinary Reference Laboratory Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Veterinary Reference Laboratory Market is valued approximately at USD 2.60 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 11.41% over the forecast period 2019-2026. Veterinary reference laboratories are potent and crucial tools for the prevention of zoonotic diseases and promotion of animal health and welfare, safe food production, and public health. It plays an important role in animal health protection by preventing and controlling serious epi zoonotic diseases. These laboratories have major implication on human health because of the animal to human transmission of diseases such as plaque, rabies, query fever and listeriosis. Growing adoption of pets, demand for pet insurance, surging demand for animal-derived food, and rising incidence of trans-boundary and zoonotic diseases are the few factor responsible for high CAGR of the market over the forecast period.

For instance, as per the North American Pet Health Insurance Association (NAPHIA), the total number of pets insured reached 2.43 million at year-end 2018, up by over 17 percent from 2017. The association also reported that the pet health insurance sector for the U.S. and Canada published a combined gross written premium of USD 1.42 billion in 2018, representing an increase from USD 1.15 billion since 2017. Moreover, growing public-private partnerships in veterinary health is the major factor likely to create lucrative growth opportunities to the market growth in the forecasting years. However, escalating pet care costs, lack of standardization, improper facilities and a shortage of skilled professional in veterinary reference laboratories are limiting the growth of global veterinary reference laboratory market during the forecast period.

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The regional analysis of global Veterinary Reference Laboratory Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the escalating adoption of companion animals, the increasing pet insurance industry, rising veterinary healthcare expenditure, and the growing number of veterinary practices in the region. However, North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
Major market player included in this report are:
IDEXX Laboratories, Inc.
VCA, Inc.
GD Animal Health
Boehringer Ingelheim
Zoetis, Inc.
Neogen Corporation
Laboklin GmbH
Synlab International GmbH
Marshfield Labs
Texas A&M Veterinary Medical Diagnostic Laboratory

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type of Service:
Immunodiagnostic Services
Clinical Chemistry Services
Molecular Diagnostic Services
Hematology Services
Urinalysis Services

By Application:
Clinical Pathology
Productivity Testing
Pregnancy Testing
Toxicology Testing

By Animal:
Companion Animals
Livestock Animals

By Region:
North America
Asia Pacific
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Veterinary Reference Laboratory Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Veterinary Reference Laboratory Market, by Type of Service, 2017-2026 (USD Billion)
1.2.2. Veterinary Reference Laboratory Market, by Application, 2017-2026 (USD Billion)
1.2.3. Veterinary Reference Laboratory Market, by Animal, 2017-2026 (USD Billion)
1.2.4. Veterinary Reference Laboratory Market, by Region, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Veterinary Reference Laboratory Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Veterinary Reference Laboratory Market Dynamics
3.1. Veterinary Reference Laboratory Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Veterinary Reference Laboratory Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Veterinary Reference Laboratory Market, by Type of Service
5.1. Market Snapshot
5.2. Global Veterinary Reference Laboratory Market by Type of Service, Performance – Potential Analysis
5.3. Global Veterinary Reference Laboratory Market Estimates & Forecasts by Type of Service 2016-2026 (USD Billion)
5.4. Veterinary Reference Laboratory Market, Sub Segment Analysis
5.4.1. Immunodiagnostic Services
5.4.2. Clinical Chemistry Services
5.4.3. Molecular Diagnostic Services
5.4.4. Hematology Services
5.4.5. Urinalysis Services
Chapter 6. Global Veterinary Reference Laboratory Market, by Application
6.1. Market Snapshot
6.2. Global Veterinary Reference Laboratory Market by Application, Performance – Potential Analysis
6.3. Global Veterinary Reference Laboratory Market Estimates & Forecasts by Application, 2016-2026 (USD Billion)
6.4. Veterinary Reference Laboratory Market, Sub Segment Analysis
6.4.1. Clinical Pathology
6.4.2. Bacteriology
6.4.3. Virology

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