San Francisco, 21
November 2018: 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.
Access
Research Report of Veterinary Reference
Laboratory Market @ 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 at: 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
·
Molecular Diagnostics
·
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
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Veterinary Reference Laboratory Market@ www.grandviewresearch.com/press-release/global-veterinary-reference-laboratory-vrl-market
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.
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