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Veterinary Laboratory Testing Services in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 17, 2024
Length 74 Pages
SKU # IBSS19343332

Description

Veterinary Laboratory Testing Services in the US - Industry Market Research Report


Veterinary Laboratory Testing Services in the US

Veterinary laboratory testing providers have benefited in recent years as more pet owners and agricultural producers seek out vets more regularly to care for their animals. At the same time, medical advances for human care have been pouring into veterinary care, improving the breadth and quality of tests available for animals. Advanced diagnostic screenings and DNA profiles have become available alongside routine tests like ultrasounds or CBCs. More than ever, households see their pets as an integral part of the family. Consumers' shifting attitudes toward household pets support the growth of vet testing labs, as pet owners are willing to spend on specialized tests outside of regular, routine care. Rising incomes – especially among millennial pet parents – also contribute to the uptick in testing vet labs receive. Pet ownership trends have led industry-wide revenue to rise at a CAGR of 5.8% over the past five years – totaling an estimated $12.4 billion in 2023 – when revenue will increase an expected 0.4%.

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."

Table of Contents

74 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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