The cat's meow: More household pets and demand for complex tests will strengthen growth

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...purchase to read more.

Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 12-17
4.5%
Forecast Growth 17-22
Profit
Employment
86,340
Businesses
48,868

Industry Threats & Opportunities

  • Pet owners’ increasing willingness to pay for pet healthcare will bolster industry demand
  • More stringent regulations for the agricultural sector have kept demand for laboratory testing services high
  • Tests that evaluate blood count and chemistry panels will increasingly be demanded by veterinarians, bolstering industry revenue
  • Industry Report - Industry Key Buyers Chapter

    The Veterinary Laboratory Testing Services industry is characterized by a low level of market share concentration. In 2017, IBISWorld estimates that the two largest veterinary laboratories account for 23.0% of total industry revenue. Low market share concentration is partly attributable to the industry having many single-site facilities, with many laboratories located within animal hospitals and reference laboratories. Over the next five years, the industry will move toward larger veterinary laboratories that have a large product portfolio of diagnostic testing services, as well as the ability to provide same day testing results.The industry's top two players, IDEXX Laboratories and VCA Antech, have both gained market share during the past five years. For...purchase to read more.

    Additional Insights for the Veterinary Laboratory Testing Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Veterinary Laboratory Testing Services Industry are

  • Ability to quickly adopt new technology
  • Proximity to key markets
  • Provision of appropriate facilities
  • IBISWorld analysts also discuss how external factors such as Number of pets (cats and dogs) and Demand from veterinary services in the Veterinary Laboratory Testing Services industry impact industry performance..

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    What's in this report

    What is the Veterinary Laboratory Testing Services Industry?

    The Veterinary Laboratory Testing Services industry provides laboratory and diagnostic testing services for licensed veterinary practitioners.

    Industry Products
  • Dog blood tests
  • Cat blood tests
  • Radiography tests
  • Urinalysis
  • Histopathology
  • Fecal exams
  • Sample swabs
  • Industry Activities
  • Veterinary parasitology test services
  • Veterinary bloodwork test services
  • Veterinary biopsy services
  • Veterinary skin sample testing services
  • Other veterinary laboratory testing services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of pets (cats and dogs)
  • Demand from veterinary services
  • Per capita disposable income
  • Per capita meat consumption
  • Demand from brand name pharmaceutical manufacturing

  • Current Performance
  • Industry landscape
  • Livestock prompts growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Aging pets stimulate demand
  • Enterprises and employment
  • Table: Veterinary Laboratory Testing Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Veterinary Laboratory Testing Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Beef Cattle Production
  • Dairy Farms
  • Hog & Pig Farming
  • Sheep Farming
  • Horse & Other Equine Production
  • Consumers

  • Key Selling Industries
  • Inorganic Chemical Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling
  • Organic Chemical Manufacturing

  • Products & Services
  • Dog blood tests
  • Cat blood tests
  • Urinalysis
  • Radiography tests
  • Histopathology
  • Sample swabs
  • Other
  • Fecal exams
  • Chart: Veterinary Laboratory Testing Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Companion animal exclusive practices
  • Companion animal predominate practices
  • Other
  • Mixed animal practices
  • Equine
  • Food animal predominate practices
  • Food animal exclusive practices
  • Chart: Major Market Segmentation for the Veterinary Laboratory Testing Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Laboratory Testing Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Veterinary Laboratory Testing Services Industry

  • Industry Globalization
    IDEXX Laboratories Inc., VCA Inc.,
  • Table: IDEXX Laboratories Inc. - financial performance
  • Table: VCA Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Laboratory Testing Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Veterinary Laboratory Testing Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of pets including cats and dogs (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Diagnostic Test
  • A test that helps identify a particular disease.
  • Parasitology
  • The study of parasites, including tapeworm, hookworm and heartworm.
  • Urinalysis
  • Includes a variety of tests performed on urine.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Veterinary Laboratory Testing Services can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Veterinary Laboratory Testing Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Veterinary Laboratory Testing Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Veterinary Laboratory Testing Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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