$13.1bn
$X.Xbn
108k
50,722
$X.Xbn
Veterinary laboratory testing providers have benefited in recent years as more pet owners and agricultural producers seek out vets 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 the volume of tests labs receive. Pet ownership trends have led industry-wide revenue to rise at a CAGR of 4.7% over the past five years – totaling an estimated $13.1 billion in 2024 – when revenue will increase an expected 2.1%.
Industry revenue has grown at a CAGR of 4.7 % over the past five years, to reach an estimated $13.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Idexx Laboratories Inc. | 3,093.5 | 920.7 | 29.8 | |
Mars Inc. | 493.0 | 62.3 | 12.6 |
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Industry revenue is measured across several distinct product and services lines, including Dog blood tests , Cat blood tests and Radiography tests . Dog blood tests is the largest segment of the Veterinary Laboratory Testing Services in the US.
Routine blood tests are standard in veterinary care
Veterinary laboratory testing providers offer specialized diagnostic testing and analytical services for animals, including companion pets and livestock. These companies play a critical role in veterinary medicine by providing various laboratory tests to detect, diagnose and monitor diseases, health conditions and infections.
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NAICS 54138 - Veterinary Laboratory Testing Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Veterinary lab testing providers are running more tests than ever. Consumers’ shifting attitude toward pet care and an uptick in the pet ownership rate contributes to the inc...
Learn about an industry's products and services, markets and trends in international trade.
Blood tests are the most common procedure for companion pets. Most pets need blood work at some point, so vet lab testing providers receive steady volumes of blood tests.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Laboratory testing providers follow the distribution of the country's veterinarians. Testing providers benefit the most when located near veterinarian offices by offering con...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Veterinarians want fast results. Labs delivering quick turnaround time for test results benefit from steady and recurring business from vets.
Learn about the performance of the top companies in the industry.
No one veterinary laboratory testing provider controls the market. Testing providers are fragmented, providing testing services for veterinarians in local or regional areas.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Few regulations oversee the accuracy or quality of pet diagnostic testing, but the rising popularity of genomic and diagnostic testing by pet owners could create a more regula...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Shortages of vet lab technicians are pressuring wage growth. Pandemic-related employment trends and an uptick in pet ownership are forcing labs to pay employees higher salari...
Including values and annual change:
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The market size of the Veterinary Laboratory Testing Services in the US industry in United States is $13.1bn in 2024.
There are 50,722 businesses in the Veterinary Laboratory Testing Services in the US industry in United States, which has grown at a CAGR of 1.5 % between 2019 and 2024.
The market size of the Veterinary Laboratory Testing Services in the US industry in United States has been growing at a CAGR of 4.7 % between 2019 and 2024.
Over the next five years, the Veterinary Laboratory Testing Services in the US industry in United States is expected to grow.
The biggest companies operating in the Veterinary Laboratory Testing Services market in United States are Idexx Laboratories Inc. and Mars Inc.
Veterinary parasitology test services and Veterinary bloodwork test services are part of the Veterinary Laboratory Testing Services in the US industry.
The company holding the most market share in United States is Idexx Laboratories Inc..
The level of competition is moderate and increasing in the Veterinary Laboratory Testing Services in the US industry in United States.