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Asia Pacific Veterinary Research Laboratory (VRL) Market Forecast 2021-2028

KEY FINDINGS
The Asia Pacific veterinary research laboratory (VRL) market is expected to grow with a CAGR of 12.70%, during the forecast years of 2021 to 2028. The increased investments in research and development, as well as the increased clinical urgency in order to reduce the high prevalence of zoonotic conditions and managing disease outbreaks, are projected to drive the region's market growth.

MARKET INSIGHTS
The Asia Pacific veterinary research laboratory (VRL) market is analyzed by assessing Australia & New Zealand, China, India, Japan, Indonesia, South Korea, Thailand, Vietnam, and the rest of the Asia Pacific. India is projected to observe significant growth over the forecast period, owing to the extensive production of animal proteins, across the country. Moreover, India also witnessed an increase in fish, milk, meat, and sheep, considered an outcome of a surge in livestock production. For instance, as per the 20th Livestock Census, India recorded more than 193.40 million cattle, in 2019. As a result, the country's massive livestock population creates an increased demand for veterinary medicine, thereby fueling India's market growth.
Conversely, Thailand's market is essentially fuelled by the rising livestock population, as well as the increasing availability of farm animal products. The issue of infectious diseases in livestock is a fundamental limitation, in terms of food security and sustained agricultural development. This aspect largely contributes to the development of Thailand's veterinary research. As a result, such factors are anticipated to drive the Asia Pacific veterinary research laboratory (VRL) market growth, over the forecast period.

COMPETITIVE INSIGHTS
Some of the leading companies operating in the market include, Neogen Corporation, Royal GD Animal Health, Thermo Fisher Scientific, Bio-Rad Laboratories Inc, Zoetis, etc.

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Asia Pacific Veterinary Research Laboratory (VRL) Market Forecast 2021-2028
Published By :Inkwood Research
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