The global market for veterinary reference laboratory is projected to have considerable CAGR of around 11.5% during the forecast period owing to rising number of companion livestock animals. A pet or a companion animal is one with no special training for assisting an individual or for the company, amusement, psychological support and so on. The companion animals encourages the demand of personal healthcare and proper diagnosis of the diseases therefore pushes the adoption of various reference laboratory services for various applications such as clinical pathology, bacteriology and others. Therefore growing demand of veterinary reference laboratory services further propels the market growth.
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Moreover, the factory farming is considered as one of the major factors that contributes significantly in the growth of the number of livestock animals. In factory farming, a large number of animals including cows, pigs, turkeys, goats, sheep, pigs or chickens are held in order to increase production of eggs, meat, beef and milk at the lowest possible cost. In the US, more than 95% of animals are produced in factory farming for maximizing agribusiness profit. The bulk of animals are kept and raised in the farm which significantly increases the chances of spreading diseases among animals. Therefore, the operations of factory farming are expected to get on track post 2020, owing to the rise in the consumption of animal derived products across the globe. This, in turn, will increase the demand for veterinary reference laboratory services across the globe.
Growing zoonotic diseases spur the veterinary reference laboratory market
The rising prevalence of zoonotic diseases further contribute in the growth of the veterinary reference laboratory market. Zoonotic diseases are the infectious diseases transmitted from animals to humans and human to animals that are caused by pathogenic agents including parasites, fungi, bacteria, and viruses. These diseases have been recognized for centuries; however, its impact on public health is on rising due to the emergence of novel zoonotic diseases. Zoonotic diseases have always been featured among the broad range of human diseases such as yellow fever, plague, tuberculosis. These diseases have mostly come from poultry, domestic animals, and livestock. However, these infections are increasingly emerging from wildlife species due to environmental changes.
Many zoonoses such as avian influenza and rabies from wildlife are are increased, whereas as some such as Ebola have been emerged recently or being linked to wildlife reservoir species. Ebola was linked to cave-dwelling bats in Africa. The other instance of such disease is severe acute respiratory syndrome (SARS) coronavirus that has emerged from bats to civets before ultimately affecting humans in southern China. Therefore the rising these type of diseases further propels the demand of clinical pathology tests and others application or reference laboratory in veterinary clinics and hospitals, thus contributing in the growth of the market.
Global Veterinary Reference Laboratory Market Segmentation
By Product Type
- Clinical Pathology
- Infectious Disease
- Others (Neurology)
- Veterinary Hospitals &Clinics
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Veterinary Reference Laboratory Market– Segment by Region
- United States
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
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- Descartes Labs, Inc.
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- IBM Corp.
- Inbenta Technologies Inc.
- Intel Corp.
- Interactions LLC
- IPsoft Inc.
- Kensho Technologies, LLC
- Lexalytics, Inc.
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