Top dog: Rising pet ownership has supported healthy industry revenue growth

The Veterinary Laboratory Testing Services industry plays an integral role in Australia's animal health system. Veterinary laboratory testing services involve testing and diagnosing animal-related diseases in laboratories. These services include blood and serum analysis, toxicology, parasite test services, virology, bacteriology and mycology. These services are essential in Australia, given the economic importance of its livestock industries. Veterinary laboratories also play a role in the care of performance and companion animals, including racehorses, domesticated cats and dogs, and other production animals such as poultry and pigs.The industry has changed dramatically over the past two decades...read more.

Industry Statistics & Market Size
Revenue
$177m
Annual Growth 13-18
2.9%
Forecast Growth 18-23
Profit
Employment
385
Businesses
16

Industry Threats & Opportunities

  • Private ownership has increased in the industry due to government cost-cutting measures
  • Expenditure on companion animals has increased, driving demand for private operators
  • Profitability is forecast to improve, as pet ownership and economies of scale increase
  • Industry Report - Industry Investment Chapter

    The industry has a high capital intensity. The need for utilising the most advanced testing methods means that capital purchases have risen over the past five years. Many veterinary laboratories house sophisticated high-cost diagnostic equipment with specific equipment required for each test performed. In addition, new equipment is regularly purchased to improve a laboratory's competitive edge.At the same time, the industry needs to pay their staff adequately as the industry's services are highly specialised, with some participants relying on the skills of specialist veterinary pathologists. Oth...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 Demand from veterinary services and Demand from dairy cattle farming 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?

    Industry companies provide laboratory testing and diagnostic services for licensed veterinary practitioners.

    Industry Products
  • Blood and serum analysis
  • Parasite test services
  • Toxicology
  • Virology, bacteriology and mycology
  • Industry Activities
  • Blood and serum analysis
  • Toxicology test services
  • Parasite test services
  • Virology, bacteriology and mycology test services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from veterinary services
  • Demand from dairy cattle farming
  • Real household disposable income
  • Demand from horse farming
  • Demand from poultry farming

  • Current Performance
  • Changing landscape
  • Pet spending
  • Regulatory reform
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth drivers
  • Biosecurity reform
  • 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
  • Sheep Farming
  • Beef Cattle Farming
  • Dairy Cattle Farming
  • Pig Farming
  • Horse Farming
  • Consumers

  • Key Selling Industries
  • Basic Inorganic Chemical Manufacturing
  • Basic Organic Chemical Manufacturing
  • Medical and Scientific Equipment Wholesaling
  • Medical and Surgical Equipment Manufacturing

  • Products & Services
  • Parasite test services
  • Blood and serum analysis
  • Virology, bacteriology and mycology
  • Toxicology
  • Other
  • Chart: Veterinary Laboratory Testing Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Livestock famers
  • Pet owners
  • Pig and poultry farmers
  • Horse farmers
  • Other
  • 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
  • Depreciation
  • Rent
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Laboratory Testing Services

  • Basis of Competition
  • External competition

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

  • Industry Globalization
    IDEXX Laboratories Pty Ltd, Commonwealth Scientific & Industrial Research Organisation,
  • Table: IDEXX Laboratories Pty Ltd - financial performance
  • Table: Commonwealth Scientific & Industrial Research Organisation - 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 (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Nata
  • National Association of Testing Authorities.
  • Scahls
  • Subcommittee on Animal Health Laboratory Standards.
  • Zoonotic Diseases
  • Diseases that can be transmitted from animals to humans
  • What Our Customers Say

    Why buy this report?

    The Veterinary Laboratory Testing Services market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    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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