Veterinary Laboratory Testing Services Market Definition And Segments
Veterinary services refer to various tests conducted for diagnosis of infectious agents, toxins, and other causes of diseases in animals.
The main technologies of veterinary laboratory testing services are clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and other technologies. Clinical Biochemistry is the branch of laboratory medicine concerned with the detection of chemicals (both natural and synthetic) in blood, urine, and other bodily fluids. These veterinary laboratory testing services are beneficial for pet animals and livestock and are used by veterinary hospitals and clinics, diagnostic laboratories, research institutes, in-house testing, and other end users.
The veterinary laboratory testing services market covered in this report is segmented –
1) By Technology: Clinical Biochemistry, Immunodiagnostics, Hematology, Molecular Diagnostics, Other Technologies
2) By Animal Type: Companion Animals, Livestock
3) By End User: Veterinary Hospitals And Clinics, Diagnostic Laboratories, Research Institutes, In-House Testing, Other End-Users
The veterinary laboratory testing services market size has grown strongly in recent years. It will grow from $24.98 billion in 2023 to $26.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to a rise in disposable income, a rise in adoption of pets, a rise in merger and acquisition activity, a rise in animal healthcare expenditure, increased pet spending and growth in the companion animal population.
The veterinary laboratory testing services market size is expected to see strong growth in the next few years. It will grow to $36.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing penetration of pet insurance, rapidly growing urban population, growing awareness about animal health and the development of innovative rapid tests and portable instruments for point-of-care testing will drive market growth. Major trends in the forecast period include adoption of multiple testing panels, use of artificial intelligence (AI), launch of new pathogen PCR (polymerase chain reaction) tests, focus on partnerships and collaborations and launch of new, innovative products.
Epidemic Surveillance And Veterinary Laboratory Testing Safeguarding Animal And Human Health
The veterinary laboratory testing services market is being driven by the rising prevalence of disease epidemics in animals. For instance, cattle are getting infected by a wide group of pathogens, which is leading to a rise in the number of laboratory tests done for cattle. Moreover, livestock globally is becoming vulnerable to infectious diseases caused by pathogens and viruses. For instance, Salmonella and Campylobacter are the two most common zoonotic pathogens that are present in the intestine tracts of animals, such as chickens, swine, and cattle, and are leading causes of foodborne disease worldwide. These diseases get passed through the food chain to humans, which is a potential threat. Therefore, efforts to curb these infections in animals are driving the market for veterinary laboratory testing. The FoodNet system (Center for Disease Control and Prevention, USA) identified 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths. The highest incidences per 100,000 people were for Campylobacter, Salmonella, and Shigella(these are organisms causing bacterial gastroenteritis, which is a digestive problem) in the USA.
Surging Pet Ownership Catalyst For Growth In The Veterinary Laboratory Testing Services Market
The growing pet ownership is expected to propel the growth of the veterinary laboratory testing services market in the coming years. Pet ownership involves the responsibility of caring for a domesticated animal, such as a cat, dog, bird, fish, or other small creatures, by meeting their requirements, which include providing sustenance, shelter, exercise, and healthcare. The percentage of pet owners worldwide is continually increasing, which has boosted the need for veterinary diagnostics. Pet owners are becoming more aware of the need for regular check-ups and preventative care for their dogs, which has increased the need for veterinary laboratory testing services. For instance, in November 2022, according to Animal Medicines Australia, an Australia-based industry organization representing Australia's leaders in the animal health business, Sixty-nine percent of homes in metropolitan, regional, and remote Australia currently have one or more pets. Approximately 28.7 million pets presently reside in around 6.9 million Australian homes. Therefore, the growing pet ownership is driving the veterinary laboratory testing services market.
Major companies operating in the veterinary laboratory testing services market report are IDEXX Laboratories, Mars Incorporated, Zoetis Inc., CVS Group PLC, Heska Corporation, Gribbles Veterinary, Neogen Corporation, GD Animal Health, Greencross Limited, ProtaTek International, Inc., Vetserv India, Pathvets, VETLAB, MSD Animal Health (Merck), Boehringer Ingelheim, Bayer Healthcare, Vetoquinol SA, Ceva Sante Animale, Frantz Cappe, Clinique Veterinaire Metivet, Alizee Vet Clinic, Cristina Cardone, Abbey House Veterinary Hospital, Aberdeen Veterinary Referrals, Abington Park Vets, Acorn House Veterinary Hospital, Alma Veterinary Hospital, Anderson Moores Veterinary Specialists, Animal Trust Vets CIC Bolton, Animed Veterinary Hospital & Equine Unit, Draminski, Agnieszka Jakubowska Equi Serwis Gabinet Weterynaryjny, BHH MIKROMED SP. Z O.O, BWF Technologies Sp. Z O.O, Bioticapharma, Veterinary Purchasing Company Limited, Associated Vet Purchasing, Acell, Addison Biological Laboratory Inc., Colorado Serum Company, Elanco Animal Health, Icare Tonovet, Kindred Biosciences, Merck Animal Health, Norbrook Inc., J.A Saude Animal, Eurofins Sao Paulo Brasil, Vaxxinova, Gulf Veterinary Services Company, Mansour Al Mosaid Group, Karaman Veterinary Medicines Co LLC, IFT ANIMAL HEALTH LLC, Bupo Animal Health, Virbac SA, Animal Care Services Konsult Nigeria Ltd., Egavet, Al Walaa Co, Alliance Pharma EG, Cowtribe
Challenges In Veterinary Laboratory Testing Services The Impact Of Animal Healthcare Awareness In Emerging Market
The veterinary laboratory testing services market is being restrained by a lack of animal healthcare awareness in emerging markets, which is responsible for causing many animal-related diseases to go untreated. Some of the veterinary laboratory testing services market is being restrained by a lack of animal healthcare awareness in emerging markets, which is responsible for causing many animal-related diseases to go untreated. Some of the illnesses in animals are often unknown or undiagnosed due to a lack of awareness. For instance, in emerging countries like India, China, and South Africa, diseases like rabies, which can be detected through veterinary testing, are often left undiagnosed, which results in the deaths of many people who are bitten by rabid animals in these countries. For example, more than 55,000 people globally die of rabies every year, and around 30,000 of these cases are from India. According to Prof Andrew Leisewitz from the University of Pretoria, around 27,000 cases of animal rabies were reported, but the estimated number of actual cases was much higher. Such a lack of awareness, especially in emerging markets, is restraining the veterinary laboratory testing services market.
Enhancing Veterinary Diagnostic Efficiency The Adoption Of Multiple Testing Panels
The companies in the veterinary laboratory testing services are increasingly adopting multiple testing panels. A test panel is a pre-decided group of medical tests to be used in the diagnosis as well as the treatment of an animal disease. The test panels are normally composed of individual laboratory tests, which are grouped by specimen type, the methodology used, or by the most frequently requested tests. Multiple test panels offer various advantages, such as labor efficiency, automation, and reduced costs, achieved by conducting many tests daily. For instance, Abaxis Inc. is using multiple single-use test panels designed to address several conditions, wherein just 3 to 4 drops of blood are required to deliver up to 14 precise results.
Innovation In Veterinary Diagnostics Idexx Launches Fecal Dx Antigen Testing With Enhanced Capabilities
Major companies operating in the veterinary laboratory testing services market are focusing on innovative products like Dx antigen testing to better meet the needs of their existing consumers. Diagnostic antigen testing is commonly referred to as Dx antigen testing. Antigen tests are diagnostic tests that identify the presence of a certain antigen, which is often a protein linked with a specific virus, bacterium, or other microorganism. These tests are used to diagnose infectious illnesses and work by detecting the presence of antigens in a patient's sample (for example, a nasal swab or blood sample). For instance, in September 2022, IDEXX Laboratories Inc., a US-based corporation that creates, produces, and sells services and goods for the companionship animal, poultry, and cattle industries, as well as water testing and dairy markets, launched Fecal Dx antigen testing in North America. Fecal Dx antigen testing is now improved to identify flea tapeworms in addition to hookworms, roundworms, and whipworms. Flea tapeworm is a widespread intestinal parasite that spreads anywhere fleas are available, and it can often go unnoticed by testing procedures such as fecal flotation or other instrument-based visual approaches that rely on the presence of eggs. With this addition, fecal Dx antigen testing identifies up to five times more and sooner than fecal flotation alone. This gives veterinarians useful insights as part of yearly wellness screenings and enables them to treat and prevent disease, resulting in improved patient outcomes.
Strengthening Veterinary Diagnostics Mars, Incorporated Acquires Heska Corporation
In April 2023, Mars, Incorporated, a US-based maker of confectionary, pet food, and other food items as well as an innovator of animal diagnostic services, acquired Heska Corporation for an undisclosed amount. Through the acquisition, Heska Corporation enables Mars Petcare's science and diagnostics business to broaden its diagnostic products and boost point-of-care veterinary diagnosis in the worldwide pet healthcare community. Heska Corporation is a US-based company that offers sophisticated veterinary diagnostics and specialized solutions.
North America was the largest region in the veterinary laboratory testing market in 2023. Asia-Pacific was the second-largest region in the global veterinary laboratory testing market report. The regions covered in the veterinary laboratory testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the veterinary laboratory testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The veterinary laboratory testing services market consists of revenues earned by entities that use technologies such as clinical biochemistry, immunodiagnostics, hematology, molecular diagnostics, urinalysis, and others for the diagnosis of animal diseases. The tests conducted involve chemistry, pathology, serology, radiography and endocrinology related assessments. 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 market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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