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

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

  • August 2021 •
  • 36 pages •
  • Report ID: 5065181 •
  • Format: PDF
The cat’s meow: Favorable regulations will help bolster demand for industry services in underserved locations

Abstract

Veterinary Laboratory Testing Services

The Veterinary Laboratory Testing Services industry has a low level of market share concentration due to the large number of single-unit laboratories. The largest companies in the industry, IDEXX Laboratories Inc. (IDEXX) and VCA Antech Inc. (VCA Antech), are expected to account for a combined 22.1% of industry revenue in 2018.

Diversification supports largest companies

• The industry’s largest companies are both diversified and provide a variety of animal healthcare products and services in addition to laboratory testing services. For example, IDEXX manufactures veterinary instruments and supplies, while VCA Antech is a subsidiary of Mars Inc. (Mars), a highly diversified pet food and supplies manufacturing company.

Acquisitions drive market share

• Acquisitions have enabled the industry’s largest companies to gain relatively high market shares. Mars acquired VCA in 2017, which enabled Mars to enter the industry. Meanwhile, IDEXX has focused on acquiring small laboratories and other pet product manufacturers.

Geography determines competition
• While quality and price are important factors for veterinary laboratories, industry companies mainly compete based on location and access to geographic markets. Industry laboratories typically work with local veterinarians and animal hospitals to provide testing services. In rural areas, there may only be one industry laboratory.

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.
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