The global Veterinary Antimicrobial Susceptibility Testing Market size is expected to reach USD 52.78 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.1% from 2021 to 2028. The key factors fueling the market growth include growing demand for livestock products and increasing government initiatives.
Government initiatives mandating safe healthcare practices for livestock and companion animals are fueling the growth of the market. Several governments worldwide are focused on protecting animals and humans from antibiotics resistance. In addition, efforts are being taken to increase awareness about the reduction of usage of antimicrobials in food animals. The WHO is collaborating with the World Organization for Animal Health (OIE), Food and Agriculture Organization (FAO), national ministries of health, World Bank, and UNSIC to take major actions regarding antimicrobial resistance, which is further propelling the market growth.
The growing demand for animal products, such as milk, chicken, eggs, and meat, is encouraging farmers to adopt an antibiotics policy for their animals to gain higher profitability. Due to the rising urbanization, consumers are becoming more aware of the nutritious value of animal protein. The demand for healthy, sustainable, and high-quality meat products that have comparatively few or no antimicrobials is also increasing rapidly. Thus, the need for healthy breeding of animals is increasing, which is expected to fuel the growth of the market.
List of Key Players of Veterinary Antimicrobial Susceptibility Testing Market
- BioMérieux SA
- Becton, Dickinson and Company
- Synbiosis
- Thermo Fisher Scientific
- Bruker Corporation
- Danaher Corporation
- Condalab
- Bioguard Corporation
- Liofilchem S.r.l.
- HiMedia Laboratories
- Bio-Rad Laboratories
- Neogen Corporation
Related Press Release@ Veterinary Antimicrobial Susceptibility Testing Market Report
Veterinary Antimicrobial Susceptibility Testing Market Report Highlights
- By animal type, livestock animals dominated the market in 2020 due to the stringent regulatory guidelines regarding antimicrobial usage in livestock animals. Cattle accounted for over 38.0% share in 2020 due to the increasing demand for milk and the growing expenditure on livestock
- The companion animal type segment is estimated to grow notably due to the increasing concerns over the transmission of resistance from companion to humans
- Based on product, AST automated instruments accounted for the largest share of over 41.0% in 2020 due to its increasing adoption and higher cost. Disks and plates are expected to witness significant growth over the forecast period owing to their increased usage in labs and research institutes
- In terms of end-use, in 2020, the veterinary reference lab segment held the largest share owing to its patient footfall and increased number of tests
- Asia Pacific held the largest revenue share in 2020 owing to its growing livestock population and increased government initiatives
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Veterinary Antimicrobial Susceptibility Testing Market Segmentation
Grand View Research has segmented the global veterinary antimicrobial susceptibility testing market on the basis of animal type, product, end-use, and region:
Veterinary Antimicrobial Susceptibility Testing Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
- Livestock Animals
- Cattle
- Poultry
- Pigs
- Others
- Companion Animals
- Cats
- Dogs
- Horses
- Others
Veterinary Antimicrobial Susceptibility Testing Product Outlook (Revenue, USD Million, 2016 - 2028)
- Disks & Plates
- Culture Media
- Accessories & Consumables
- Automated AST Instruments
Veterinary Antimicrobial Susceptibility Testing End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Veterinary Reference Lab
- Veterinary Research Institutes
- Others
Veterinary Antimicrobial Susceptibility Testing Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
The global Veterinary Antimicrobial Susceptibility Testing Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
Get more information on "Global Veterinary Antimicrobial Susceptibility Testing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/veterinary-antimicrobial-susceptibility-testing-market/download-sample Market Dynamics The growing awareness about infections among companion animals and livestock is the primary impetus for market growth.
The prevalence of zoonotic diseases among the global population and the need to identify the right choice or dosage of antibiotics in treating the same will benefit market growth.
The increased use of antimicrobial susceptibility test kits in the pharmaceutical and biotechnology sectors in the research & development of novel drugs to fight bacteria will further enhance the market growth.
Growth in the market is largely driven by the growing threat of antimicrobial resistance due to the overuse of antibiotics, rising demand for animal-derived products, growing prevalence of zoonotic diseases, rising demand for pet insurance, growing animal health expenditure, and the growing number of veterinary practitioners & their rising income levels in developed economies.
The rising focus on veterinary antimicrobial susceptibility testing in emerging markets due to supportive government initiatives and awareness initiatives for antimicrobial resistance and control offer significant growth opportunities for the market players.The Veterinary Antimicrobial Susceptibility Testing Market is expected to reach USD 135 million by 2026 from an estimated USD 100 million in 2021, at a CAGR of 6.1%.Ask For PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=50401056Since the beginning of 2020, the majority of the countries worldwide shut down their borders and limited transportation in a bid to contain the coronavirus (COVID-19) outbreak, thus, creating impediments for international trade and transportation.The food-producing animal segment is expected to account for the largest share of the veterinary AST marketBased on animal type, the veterinary antimicrobial susceptibility testing market is segmented into food-producing animals and companion animals.
The food-producing animals segment accounted for the largest share of the market in 2020.
The large share and high growth of this segment can be attributed to the high use of antibiotics in food-producing animals, increasing incidence of antimicrobial resistance, increasing demand for meat and dairy products, rising animal healthcare expenditure in developed countries, and the increasing incidence of disease outbreaks in food-producing animals.
Companion animals are further segmented into dogs, cats, horses, and other companion animals.The culture media segment is expected to grow at the highest rate during the forecast periodThe culture media segment is expected to register the highest growth rate during the forecast period.
Growth in this product segment can be attributed to the constant requirement and recurrent purchase of these products for cultivating bacterial isolates under controlled environmental laboratory conditions.The veterinary reference laboratory end-user segment is expected to account for the largest share of the veterinary AST marketBased on end users, the veterinary antimicrobial susceptibility testing market is segmented into veterinary reference laboratories, veterinary research institutes and universities, and other end users.
