The Veterinary Reference Laboratory market is expected to grow from USD 3.60 billion in 2020 to USD 6.78 billion by 2026 at a CAGR of 11.13% from 2020 to 2026.
The emergence of the veterinary reference laboratories is owing to development in animal diseases. These laboratories support to recognize any disease in animals. Currently, adoption of the pets has increased globally as people became busy, and they essential a companion to spend time. Henceforth, people adopt cats, dogs, parrots, and so on. However, increasing diseases in the animal need dedicated centers in order to identify animal diseases. These centers maintain an orientation database, for the quick reorganization of animal diseases. The growing frequency of zoonotic diseases is anticipated to be an important factor driving the development of the veterinary reference laboratory market. According to the Centers for Disease Control and Prevention, a large number of people affected by the infections spread through a direct or indirect human-animal interface. Similarly, the WHO stated that zoonotic diseases represent an important public threat and demand proper diagnosis and treatment approaches. Additionally, the growing consumption of animal proteins, and thus the expenditure on animal health is also predictable to be a factor helping to catalyze this industry evolution.
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The global Veterinary Reference Laboratory market has been segmented as below:
By Type of Animal
Sheep and Goats
Other Food-Producing Animals
Other Companion Animals
Rest of the World
Boehringer Ingelheim International GmbH., Sanofi, Idexx Laboratories, NEOGEN CORPORATION, Marshfield Clinic., ProtaTek International Inc, Phoenix Lab, Virbac, Greencross Limited, Gribbles Veterinary., and others are among the major players in the market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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