The global veterinary reference laboratory market size is projected to grow by an average of 10% per annum, reaching $3.4 billion in 2020 to $5.6 billion in 2025. The growing demand for advanced diagnostic tests and increased awareness among consumers are some of the factors expected to increase demand over the next few years. Additionally, companies are investing in R&D to develop test kits for cost-effective animal health diagnosis and monitoring, which is expected to drive growth. Some of the developments in this market include efficient information management systems used in animal diagnostic applications, vaccine banks, and mobile apps for continuous monitoring. The high focus on veterinary health innovation is expected to drive demand for reference laboratories. For example, the Innovative Medicines Initiative (IMI) is a public-private partnership that supports pharmaceutical innovation in Europe.
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Veterinary Reference Laboratory Market Segmentation
By Type of Service
• Clinical Chemistry Services
• Immunodiagnostic Services
• Hematology Services
• Urinalysis Services
• Molecular Diagnostic Services
• Other Services (Includes Microbiology Tests and Histopathology Tests)
By Application
• Clinical Pathology
• Bacteriology
• Parasitology
• Virology
• Productivity Testing
• Pregnancy Testing
• Toxicology
By Animal
• Companion Animals
o Dogs
o Cats
o Horses
o Other Companion Animals (Includes Rabbits, Reptiles, Pet Fish, and Birds)
• Livestock Animals
o Cattle
o Pigs
o Poultry
o Other Livestock Animals (Includes Camels, Mules, Turkey, Fish, and Other Aquatic Animals)
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