The Business Research Company’s Veterinary Reference Laboratory Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Veterinary Reference Laboratory Global Market Report 2023 evaluates veterinary reference laboratory market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global veterinary reference laboratory market size will grow from $3.54 billion in 2022 to $4.04 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of veterinary reference laboratory is expected to grow to $6.53 billion in 2027 at a CAGR of 12.8%.
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.
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The veterinary reference laboratory market segments in the report are:
1) By Services: Clinical Chemistry, Hematology, Immunodiagnostics, Urinalysis, Molecular Diagnostics, Other Services
2) By Animal Type: Companion Animals, Livestock Animals
3) By Application: Clinical Pathology, Bacteriology, Parasitology, Virology, Productivity Testing, Pregnancy Testing, Toxicology Testing
4) By End User: Veterinary Hospitals, Veterinary Clinics
The table of contents in TBRC’s veterinary reference laboratory market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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