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.
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
View More Reports Of This Category By Grand View Research
At: https://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 Pa
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-veterinary-reference-laboratory-vrl-market
https://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: https://www.grandviewresearch.com/
