SAN FRANCISCO, September 27, 2021 / PRNewswire / – The Global veterinary antimicrobial susceptibility testing market size is expected to reach $ 52.78 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected increase at a CAGR of 5.1% from 2021 to 2028. Major factors fueling market growth include increasing demand for livestock products and increasing government initiatives.
Main lessons and findings:
- By animal type, farm animals dominated the market in 2020 due to strict regulatory guidelines regarding the use of antimicrobials in farm animals. Cattle accounted for over 38.0% share in 2020 due to growing demand for milk and increasing expenditure on livestock
- The companion animal segment is expected to grow in particular due to growing concerns about the transmission of resistance from companions to humans.
- Based on the product, AST automated instruments accounted for the largest share of over 41.0% in 2020 due to its increasing adoption and higher cost. Discs and plates are expected to experience significant growth during the forecast period due to their increased use in laboratories and research institutes
- In terms of end use, in 2020 the veterinary reference laboratory segment held the largest share due to its patient attendance and the increase in the number of tests
- Asia Pacific held the largest share of revenue in 2020 due to its herd growth and increased government initiatives
Read the 150-page market research report, “Analysis report of Veterinary Antimicrobial Susceptibility Testing Market Size, Share and Trend by Animal Type (Livestock, Pets), by Product, by End Use, by Region and Forecast segment, 2021-2028“, by Grand View Research
Government initiatives enforcing safe health practices for livestock and pets are fueling market growth. Several governments around the world are focused on protecting animals and humans from antibiotic resistance. In addition, efforts are being made to raise awareness of reducing antimicrobial use in food animals. WHO is working with the World Organization for Animal Health (OIE), Food and Agriculture Organization (FAO), national ministries of health, the World Bank and UNSIC to take action major concerns regarding antimicrobial resistance, which further propels the market growth.
The growing demand for animal products, such as milk, chicken, eggs and meat, is prompting farmers to adopt an antibiotic policy to make their animals more profitable. Due to increasing urbanization, consumers are increasingly aware of the nutritional value of animal proteins. The demand for healthy, sustainable, high-quality meat products that contain relatively little or no antimicrobials is also increasing rapidly. Thus, the need for healthy animal husbandry is increasing which is expected to fuel the growth of the market.
Grand View Research has segmented the global veterinary antimicrobial susceptibility testing market on the basis of animal type, product, end use, and region:
- Animal Type Outlook for Veterinary Antimicrobial Susceptibility Testing (Revenue, USD Million, 2016 – 2028)
- Veterinary Antimicrobial Susceptibility Testing Product Outlook (Revenue, USD Million, 2016 – 2028)
- Discs & Plates
- Cultural media
- Accessories and consumables
- Automated AST Instruments
- Veterinary Antimicrobial Susceptibility Testing End Use Outlook (Revenue, USD Million, 2016 – 2028)
- Veterinary reference laboratory
- Veterinary research institutes
- Regional Outlook for Veterinary Antimicrobial Susceptibility Testing (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
List of Major Players in Veterinary Antimicrobial Susceptibility Testing Market
- BioMérieux SA
- Becton, Dickinson and company
- Thermo Fisher Scientific
- Bruker Company
- Danaher Company
- Biogarde Company
- Liofilchem Srl
- HiMedia Laboratories
- Bio-Rad Laboratories
- Neogen Corporation
Browse Grand View Research’s coverage on Global Animal Health Industry:
- Aquaculture vaccines market – The size of the global aquaculture vaccines market has been estimated at $ 322.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. High aquaculture production, high prevalence of infectious diseases in the aquaculture sector and increasing demand for food products aquatic animal derivatives are the factors that are expected to drive the market.
- Veterinary Services Market – The size of the global veterinary services market has been estimated to be $ 97.34 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. The market is primarily driven by a significant increase in zoonotic and foodborne diseases globally.
- Veterinary Care Market – The size of the global veterinary care market has been estimated to be $ 74.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. The increase in chronic disease cases in companion and farm animals is fueling demand for better veterinary care.
Go to Grand View Compass, our intuitive BI market research database of over 10,000 reports
About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
Corporate Sales Specialist, United States
Grand View Research, Inc.
Toll free: 1-888-202-9519
E-mail: [email protected]
Follow us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.