Veterinary Reference Laboratories

Veterinary Reference Laboratories

Global Veterinary Reference Laboratory Market to Reach $6.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Veterinary Reference Laboratory estimated at US$3.3 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 9.2% over the analysis period 2020-2027. Immunodiagnostics, one of the segments analyzed in the report, is projected to record a 8.2% CAGR and reach US$2.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Clinical Chemistry segment is readjusted to a revised 8.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $911.2 Million, While China is Forecast to Grow at 12.5% CAGR

The Veterinary Reference Laboratory market in the U.S. is estimated at US$911.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2027 trailing a CAGR of 12.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 7.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$846.5 Million by the year 2027.

Hematology Segment to Record 9.7% CAGR

In the global Hematology segment, USA, Canada, Japan, China and Europe will drive the 9.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$399.9 Million in the year 2020 will reach a projected size of US$737.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 10.8% CAGR through the analysis period. Select Competitors (Total 41 Featured) - Animal and Plant Health AgencyAnimal Health Diagnostic Center (Cornell University)Antech Diagnostics, Inc.GD Animal HealthIdexx Laboratories, Inc.Marshfield LabsNeogen CorporationPhoenix LabProtatek Internationals Inc.Zoetis, Inc.Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

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