San Francisco, 22 November 2018,
The global veterinaryreference 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 Full
Research Report On Veterinary Reference Laboratories
(VRL) Market Analysis:
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
o
ELISA
o
Lateral Flow Rapid Tests
o
Others
·
Molecular Diagnostics
o
PCR
o
Microarrays
o
Others
·
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
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-veterinary-reference-laboratory-vrl-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.
For more information: www.grandviewresearch.com/
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