Veterinary Antimicrobial Susceptibility Testing Market size is expected to reach USD 52.78 billion by 2028

 Veterinary Antimicrobial Susceptibility Testing Industry Overview

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.

 

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:

Based on the Animal Type Insights, the market is segmented into Livestock Animals and Companion Animals

  • Livestock animals, also known as production animals, held the largest share of over 64.0% in 2020. This can be attributed to the growing consumption of animal proteins and stringent regulations regarding the usage of antibiotics in food animals.
  • The companion animals segment is expected to witness significant growth over the forecast period. An increase in the number of pet owners is driving the need for vaccinations for companion animals. According to the Pet Food Manufacturers Association, it is estimated that in 2020, 41% of households were estimated to own a pet in the U.K., accounting for 12 million pets. 

 

Based on the Product Insights, the market is segmented into Disks & Plates, Culture Media, Accessories & Consumables and Automated AST Instruments

  • Automated AST instruments held the largest revenue share of over 41.0% in 2020. The growth can be attributed to the increasing adoption of these instruments and their higher cost as compared to other methods.
  • Disks are most commonly used for AST in veterinary laboratories. The method uses small discs infused with specific concentrations of antibioticsto determine sensitivity. The method is time-consuming and the process is qualitative. This method is popular due to its cost and ease of operation. 

 

Based on the End-use Insights, the market is segmented into Veterinary Reference Lab, Veterinary Research Institutes and Others

  • Veterinary reference labs held the largest revenue share of over 55.0% in 2020 owing to the most number of testing of samples done under these facilities. These laboratories use diagnostic kits available in the market to serve pet owners, farm owners, government-related programs, or research collaborations. 
  • The veterinary research institutes segment is expected to witness lucrative growth over the forecast period. The rising adoption of pet animals and increasing healthcare spending on pets are factors fueling the growth of research institutes and universities. 

 

Veterinary Antimicrobial Susceptibility Testing Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

 

Key Companies Profile & Market Share Insights

The market is fragmented with many large and small players. These players implement various strategic initiatives to achieve their objectives and increase market share. New product launches, regional expansion, partnerships, and mergers & acquisitions are some of the initiatives deployed by key companies.

Some prominent players in the global veterinary antimicrobial susceptibility testing market include:

  • 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

 

Order a free sample PDF of the Veterinary Antimicrobial Susceptibility Testing Market Intelligence Study, published by Grand View Research. 

Comments

Post a Comment

Popular posts from this blog

Global Potash Market: Trends, Growth & Forecast 2023-2032

T he global  potash market  size is expected to reach USD 93.50 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032, according to a new study by Grand View Research, Inc. This is attributed to the increasing demand for food and efficient usage of agricultural land. As consumers seek healthier options, there has been a surge in demand for high-value crops like fruits, vegetables, and specialty crops, boosting the demand for potash. Furthermore, the adoption of precision agriculture techniques has become increasingly prevalent in recent years. Precision agriculture involves using advanced technologies and data-driven approaches, such as soil testing and targeted nutrient management, to make informed decisions about fertilizer application.   Farmers are embracing precise and site-specific methods for applying fertilizers, based on field variability and crop requirements. This trend makes way for optimized resource utilization, improved crop performance, and enhanced...
Read more

Smart Ticketing Market Report: Emerging Technologies & Market Opportunities

  The global smart ticketing market size is expected to reach USD 31.65 billion by 2030, growing at a CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. With the widespread adoption of smartphones, mobile ticketing channels have gained traction, allowing users to purchase, store, and validate tickets directly on their mobile devices, eliminating the need for physical cards or paper tickets. The convenience and ease of use offered by mobile ticketing have contributed to the growth of the market. Smart ticketing systems generate vast amounts of data on passenger journeys, travel patterns, and ticket usage.   Operators leverage this data to gain valuable insights, optimize operations, and improve the overall passenger experience. Data analytics techniques, such as predictive modeling and real-time monitoring, are being applied to enhance efficiency, manage capacity, and offer personalized services, which bode well for smart ticketing...
Read more

Boosting Crop Yields: India Foliar Fertilizer Market Trends & Forecasts

  The  India foliar fertilizer market  size is expected to reach USD 4.9 billion by 2030, expanding at a CAGR of 11.3% during the forecast period, as per a new report by Grand View Research, Inc. The industry growth is majorly driven by surged demand for food due to increasing population coupled with supportive government initiatives and decreasing arable land in the country.   There has been a significant increase in the global prices of fertilizers and foliar fertilizers. As such, farmers falling into small- and marginal-income categories cannot afford to buy fertilizers resulting in reduced agricultural yields. This has led the Government of India to take initiatives to provide fertilizer subsidies to farmers in the country to make them affordable at subsidized prices. For instance, the Government of India announced a subsidy scheme related to fertilizers worth USD 27 billion in 2022 to ensure that fertilizers are affordable for every farmer in the country. Thus, ...
Read more