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Veterinary Reference Laboratory Global Market Report 2022: Ukraine-Russia War Impact
Major players in the veterinary reference laboratory market are IDEXX Laboratories Inc. , VCA Animal Hospitals, GD Animal Health, Boehringer Ingelheim, Zoetis Inc. , Neogen Corporation, Laboklin GmbH & Co.
New York, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Reference Laboratory Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06374675/?utm_source=GNW
KG, SYNLAB International GmbH, Heska Corporation, Virbac, Thermo Fisher Scientific Inc., Texas A&M Veterinary Medical Diagnostic Laboratory, University of Minnesota, Iowa State University, Vetnostics, ProtaTek International Inc., Animal and Plant Health Agency, Animal Health Diagnostic Center, National Veterinary Services Laboratory USDA-APHIS, Washington Animal Disease Diagnostic Laboratory, Kansas State Veterinary Diagnostic Laboratory, Randox Laboratories Ltd., Greencross Ltd, and Gribbles Veterinary.
The global veterinary reference laboratory market is expected to grow from $3.06 billion in 2021 to $3.50 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The veterinary reference laboratory market is expected to reach $5.51 billion in 2026 at a CAGR of 12%.
The veterinary reference laboratory market includes revenues earned by entities by productivity testing, toxicology, pregnancy testing, parasitology and bacteriology that are used for a specimen to another laboratory for testing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The veterinary reference laboratory refers to facilities that perform key veterinary science duties such as disease diagnosis, treatment options determination, prevention, and monitoring.
North America was the largest region in the veterinary reference laboratory market in 2021. The regions covered in the veterinary reference laboratory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main serveries of veterinary reference laboratories are clinical chemistry, hematology, immunodiagnostics, urinalysis, molecular diagnostics, and others.Clinical chemistry refers to the biochemical examination of bodily fluids to aid in illness diagnosis and therapy.
Chemical reactions are used in this specialist testing to identify or measure amounts of chemical substances in bodily fluids.The various animal types involved are companion animals and livestock animals.
The various applications involved are clinical pathologies, bacteriology, parasitology, virology, product testing, pregnancy testing, and toxicology testing that are used by veterinary hospitals, and veterinary clinics’ end users.
The increasing prevalence of zoonotic diseases is expected to propel the growth of the veterinary reference laboratories market going forward.Zoonotic diseases are caused by pathogenic bacteria, viruses, parasites, and fungi.
These viruses can cause a wide range of ailments in humans and animals, from moderate to severe illness and even death.Veterinary reference laboratories are powerful and important tools for preventing zoonotic illnesses, promoting animal health and welfare, safe food production, and public health.
For instance, in March 2020, according to National Center for Biotechnology Information, a US-based branch of the National Institutes of Health, in 2020 India, 816 of the 1407 human diseases were zoonotic, meaning they may be spread naturally between animals and humans.These pathogens include 538 bacteria and rickettsia, 317 fungi, 208 viruses, 287 helminths, and 57 protozoa.
It was also noted that 177 (13%) of the total pathogens were developing or re-emerging, with 130 (75%) of these being categorized as zoonoses. Therefore, the increasing prevalence of zoonotic diseases is driving the growth of the veterinary reference laboratories market.
Technological advancement is a key trend gaining popularity in the veterinary reference laboratories market.Major companies operating in the veterinary reference laboratories market are concentrating their efforts on creating innovative technologies in to sustain their position.
For instance, in January 2020, IDEXX Laboratories Inc., a US-based company engaged in the distribution of products and services for companion animal veterinary, water testing, livestock and poultry, and dairy, launched IDEXX’s proprietary VetConnect PLUS, a new rapid digital cytology service that digitally connects veterinarians to the world’s largest network of more than 100 veterinary clinical pathologists, allowing them to receive cytology interpretations in as little as 2 hours, the service will be available 24 hours a day, seven days a week, 365 days a year. IDEXX has also integrated digital cytology capacity into its reference laboratories, allowing veterinarians who submit cytology cases to IDEXX Reference Laboratories to benefit from shorter turnaround times as well as expanded access to IDEXX’s world-class network of pathologists. Several reference laboratory digital cytology customers now benefit from deeper case collaboration among IDEXX’s diverse expertise, as well as increased capacity to guide cases to the pathologist best suited to provide an interpretation.
In September 2021, Heska Corporation, a US-based company engaged in advanced veterinary diagnostic and specialty products acquired Biotech Laboratories U.S.A. LLC for an undisclosed amount. With this acquisition, Biotech, a Heska-owned global product line, and intellectual property portfolio and aims to expand its product portfolio to deliver vital tests to thousands of point-of-care diagnostics subscribers worldwide. Biotech Laboratories U.S.A. LLC is a US-based company engaged in rapid point-of-care tests to detect antigens and antibodies associated with infectious and parasitic diseases of animals.
The countries covered in the veterinary reference laboratory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The veterinary reference laboratory market research report is one of a series of new reports that provides veterinary reference laboratory market statistics, including veterinary reference laboratory industry global market size, regional shares, competitors with veterinary reference laboratory market share, detailed veterinary reference laboratory market segments, market trends, and opportunities, and any further data you may need to thrive in the veterinary reference laboratory industry. This veterinary reference laboratory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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