Major players in theveterinary laboratory testing services market are ABAXIS, Inc. , IDEXX Laboratories, Inc. , Heska Corporation, Pfizer Animal Health, and Neogen Corporation. The global veterinary laboratory testing services market is expected to grow from $15.
New York, May 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Laboratory Testing Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067895/?utm_source=GNW
75 billion in 2020 to $17.83 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.47 billion in 2025 at a CAGR of 4.8%.
The veterinary laboratory testing services market consists of sales of laboratory testing services for animals.These services consist of various tests conducted for the diagnosis of infectious agents, toxins, and other causes of diseases in animals.
The tests conducted involve chemistry, pathology, serology, hematology, radiography, and endocrinology related assessments.
In 2019, Zoetis acquired Phoenix lab for an undisclosed amount.Phoenix Central laboratory is a full-service veterinary laboratory company that provides veterinary diagnostic services based in Mukilteo, USA.
The company was founded in the year 1988.
The veterinary laboratory testing services market is being driven by the rising prevalence of disease epidemics in animals.For instance, cattle are getting infected by a wide group of pathogens, which is leading to a rise in the number of laboratory tests done for cattle.
Moreover, livestock globally is getting vulnerable to infectious diseases caused by pathogens and viruses.For instance, Salmonella and Campylobacter are the two most common zoonotic pathogens that are present in the intestine tract of animals, such as chicken, swine, and cattle, and are leading causes of foodborne disease worldwide.
These diseases get passed through the food chain to humans which is a potential threat.Therefore, efforts to curb these infections in animals are driving the market for Veterinary Laboratory Testing.
The FoodNet system (Center for Disease Control and Prevention, USA) identified 24,484 foodborne illnesses, 5,677 hospitalizations, and 122 deaths. The highest incidences per 100,000 population were for Campylobacter, Salmonella, and Shigella(these are organisms causing Bacterial gastroenteritis which is a digestive problem) in the USA.
The veterinary laboratory testing services market is being restrained by a lack of animal healthcare awareness in emerging markets, which is responsible for causing many animal-related diseases to go untreated.Some of the animal illnesses are often unknown or undiagnosed due to the lack of awareness.
For instance, in emerging countries like India, China, and South Africa, diseases like rabies which can be detected through veterinary testing are often left undiagnosed which results in the deaths of a large number of people, who are bitten by rabid animals in these countries.For example, more than 55,000 people globally die of rabies every year and around 30,000 of these cases were from India.
According to Prof Andrew Leisewitz from the University of Pretoria, around 27,000 cases of animal rabies were reported but the estimated number of actual cases was much higher. Such lack of awareness, especially in emerging markets, is restraining the veterinary laboratory testing services market.
The veterinary laboratory testing services market in the US is subject to regulations by the Center for Disease Control and Prevention (CDC).The CDC requires the professionals responsible for conducting the tests to undergo technical training at the National Veterinary Services Laboratories (NVSL).
The veterinary laboratory personnel is required to conduct the tests licensed by the United States Department of Agriculture(USDA) as per the label instructions or the official protocols provided by the NVSL.Further, the CDC requires the laboratory personnel to test only those samples submitted by accredited veterinarians and report the test results within 48 hours of completion.
Laboratory inspections must be conducted by animal health officials on a periodic basis.
The companies in the veterinary laboratory testing services are increasingly adopting multiple testing panels.A test panel is a pre-decided group of medical tests to be used in the diagnosis as well as the treatment of the animal disease.
The test panels are normally composed of individual laboratory tests which are grouped by specimen type, the methodology used, or by the most frequently requested tests.Multiple test panels offer various advantages such as labor efficiency, automation, and reduced costs, achieved by conducting a large number of tests daily.
For instance, Abaxis Inc. is using multiple single-use test panels designed to address a number of conditions, wherein just 3 to 4 drops of blood are required to deliver up to 14 precise results.
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