Hot diggity dog: Pet owners are spending more on their animals, driving growth for private labs

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
$188m
Annual Growth 14-19
2.6%
Forecast Growth 19-24
Profit
Employment
387
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 animal diagnostic tests
  • Profitability is forecast to improve, as pet ownership and economies of scale increase
  • Industry Report - Industry Key Buyers Chapter

    The Veterinary Laboratory Testing Services industry forms part of Australia's network of animal health laboratories. In turn, this network comprises AAHL (a CSIRO national facility), six central state or territory government laboratories, a private laboratory contracted by the Victorian Government, the SA Government and a few private veterinary laboratories. In addition, some veterinary diagnostic laboratories are associated with Australia's veterinary schools.The industry has moderate market share concentration. The top two companies account for nearly half of the market, while a range of government laboratories and private companies make up the remainder of the industry. CSIRO-AAHL is one of the industry's key players. Its...purchase to read more.

    Additional Insights for the Veterinary Laboratory Testing Services Industry

    IBISWorld has determined the most important Key Success Factors for the Veterinary Laboratory Testing Services 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 Real household disposable income 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
  • Other services
  • 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
  • Real household disposable income
  • Demand from dairy cattle farming
  • Demand from horse farming
  • Demand from poultry farming

  • Current Performance
  • Changing landscape
  • Companion animals
  • 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 services
  • 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 markets
  • 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
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Laboratory Testing Services

  • Basis of Competition
  • Internal 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 (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • 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?

    IBISWorld’s Veterinary Laboratory Testing Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    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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