Veterinary Reference Laboratory Market Set To Be Worth 2.76 Billion USD By 2021

The report "Asian Home Health Care Market by Product (BP & Heart Rate Monitor, Ovulation KIT, HIV Test, ECG, EKG, EEG, Hearing Aids, Ventilator, Cane, Walker, Wheelchairs), Services (Rehabilitation, Skilled, Hospice, Palliative Care), & Telehealth - Forecasts to 2020", The veterinary reference laboratories market witnessed healthy growth during the last decade and is expected to grow at a CAGR of 9.8% between 2016 and 2021 to reach 2.76 Billion by 2021.

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The leading position of IDEXX Laboratories, Inc. (U.S.) in this market is mainly attributed to its strong diagnostic service portfolio and strong distribution and services network across the globe. The company operates in more than 175 countries across North America, Europe, Asia-Pacific, and the Rest of the World. The company has a diversified revenue system which helps it to sustain its leading position in the market.

IDEXX Laboratories primarily focuses on strengthening its veterinary diagnostic testing services portfolio and aims to maintain customer satisfaction by providing accurate and timely responses and resolutions to customer needs. The company has staff with expertise in veterinary practices who actively contribute in animal healthcare and well-being programs to offer quality and innovative services to customers.

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VCA, Inc. held the second-largest share in the veterinary diagnostics market in 2015. The company has a strong presence across the U.S. and Canada for its animal care business. The reference laboratories network of the company consists of 33 laboratories across the 50 states of North America and provides diagnostic testing services for more than 15,000 clients including standard hospitals for small animals, large animal practices, universities, and other government organizations. To garner the leading position in veterinary reference laboratories market, the company is highly focused on nourishing its operational network of healthcare facilities to provide quality animal healthcare services.

For instance, in March 2015, the company acquired all the assets of the Abaxis Veterinary Reference Laboratories (U.S.). The company’s business strategy is to continue expanding its market leadership in animal healthcare services through its diagnostic laboratory, animal hospital and medical technology segments. It strives to provide the finest quality pet health care and excellent client service in a warm and friendly environment.

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Industry players adopted the strategy of new service launches to achieve growth in the global veterinary reference laboratories market. For instance, in January 2015, IDEXX Laboratories introduced the IDEXX SDMA test, a kidney disease detector to its diagnostic services portfolio. Similarly, in August 2013, the company has launched two allergy tests for dogs in their reference laboratory services. In addition; the agreements, collaborations, and partnerships were pursued by global players to garner a larger share in the global veterinary reference laboratories market. In this regard, in June 2014, Zoetis, Inc. has entered into a service and development agreement with Eureka Genomics (U.S.) to gain access to Eureka Genomics’ proprietary Next Generation Genotyping (NGG) technology for its genetics business in cattle and sheep.

Some of the major players competing in the global veterinary reference laboratories market are IDEXX Laboratories, Inc. (U.S.), VCA, Inc. (U.S.), GD Animal Health (Netherlands), National Veterinary Services Laboratory (U.S.), Animal and Plant Health Agency (DEFRA APHA Scientific) (U.K.), Animal Health Diagnostic Center (Cornell University) (U.S.), Greencross Limited (Australia), Gribbles Veterinary Pathology (Australia), Phoenix Central Laboratory for Veterinarians, Inc. (U.S.), Zoetis, Inc. (U.S.), Neogen Corporation (U.S.), ProtaTek Internationals Inc. (U.S.), Wisconsin Veterinary Diagnostic Laboratory (U.S.), and Washington State University Veterinary Clinical Pathology Laboratory (U.S.).

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