The global veterinary
reference laboratories (VRL) market is expected to reach USD 5.13
billion by 2025, according to a new report by Grand View Research, Inc.
Increase in incidence of zoonotic diseases is a key driving factor for market
growth. Increase in adoption of integrated diagnostic systems coupled with information
ecosystems for veterinary diagnostics is anticipated to fuel development.
Rise in demand for advanced diagnostic tests and
growing awareness amongst consumers are some of the factors expected to
boostdemandover the coming years. Moreover, companies are investing in R&D
for the advancement of test kits for cost-effective diagnosis & monitoring
of animal health, which is expected to boost growth. Some of the advancements
in this market include efficient information management systems used in animal
diagnostic applications, vaccine banks, and mobile apps for continuous monitoring.
High focus toward innovation in veterinary health is anticipated to fuel the
demand for reference labs. For instance, Innovative Medicines Initiative (IMI)
is a public-private partnership that supports pharmaceutical innovations in
Europe.
In addition, MediLabSecure, a laboratory network
project was established, which aims to identify emerging viruses& pathogens
in 19 countries in the Mediterranean regions and 57 labs were involved.
Furthermore, increase in the number of government initiatives to promote veterinary
diagnostics products is presumed to drive the overall growth.
Browse full research report on Veterinary Reference Laboratory (VRL) Market: https://www.grandviewresearch.com/industry-analysis/veterinary-reference-laboratory-vrl-market
Further
Key Findings From the Study Suggest:
- The clinical chemistry analyzers segment held the dominant share of
the market as of 2016 owing to growing demand for veterinary diagnostics
products
- Increase ininstances of contamination in pet foods that causesevere
illnesses and deaths amongst animalsis expected to boost the demand for
toxicology testing services
- Production animals accounted for largest revenue share in 2016
owing to their highest consumption rate
- The market was dominated by North America and is expected to retain
its position throughout the forecast period
- Presence of prominent industry players, advanced healthcare
infrastructure, and high healthcare expenditure are some of the factors
responsible for growth
- Companies offering reference laboratories are focusing on the
development of cost-effective diagnostic solutions for animal health
- IDEXX Laboratories, Inc. held a dominant share owing to its
presence across the globe and a wide product portfolio of advanced
diagnostic tests
- Strategies such as regional expansion, new product developments,
merger & acquisitions, and research collaborations are anticipated to
propel growth
- For instance, inJanuary 2017, Mars, Inc. announced the agreement
for acquiring VCA Inc. in a probe to capture higher share
Browse more reports of this category
by Grand View Research:
https://www.grandviewresearch.com/industry/healthcare
Grand
View Research has segmented VRL market on the basis of the technology,
application, animal type,and region:
VRL
Technology Outlook (Revenue, USD Million, 2014 - 2025)
- Clinical
Chemistry
- Hematology
- Immunodiagnostics
- ELISA
- Lateral Flow
Rapid Tests
- Others
- Molecular
Diagnostics
- PCR
- Microarrays
- Others
- Others
VRL
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Clinical
Pathology
- Toxicology
- Productivity
Testing
- Others
VRL
Animal Type Outlook (Revenue, USD Million, 2014 - 2025)
- Production
- Companion
VRL
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- Japan
- China
- India
- Latin America
- Mexico
- Brazil
- MEA
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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