Over the five years to 2017, the Veterinary Laboratory Testing Services industry has benefited from the large number of US households with pets. As the number of pet owners has grown during the period, more pet owners have visited veterinarians, increasing demand for laboratory testing services from veterinarians that do not provide in-house testing. Further exacerbating this trend, as many veterinarians have specialized in internal medicine and dermatology, among other fields, this trend has facilitated the movement toward more veterinarians demanding diagnostic tools, thereby benefiting the industry. Over the five years to 2022, industry revenue is forecast to increase at a slower rate. The slowdown in demand from veterinary services will cause revenue growth to slow in comparison with the previous five-year period. Moreover, the Farm Bill, implemented in 2014, allocates funding each year to the Veterinary Services Grant Program, thus mitigating the veterinarian shortage in rural areas.
The Veterinary Laboratory Testing Services industry provides laboratory and diagnostic testing services for licensed veterinary practitioners.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.