Veterinary Antimicrobial Susceptibility Testing Market Size Worth $52.78 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Sept. 27, 2021 /PRNewswire/ -- 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.
Key Insights & Findings:
- 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
Read 150 page market research report, "Veterinary Antimicrobial Susceptibility Testing Market Size, Share & Trends Analysis Report By Animal Type (Livestock Animals, Companion Animals), By Product, By End Use, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
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.
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
- Companion Animals
- 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
- Veterinary Antimicrobial Susceptibility Testing Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- South Africa
List of Key Players of Veterinary Antimicrobial Susceptibility Testing Market
- BioM?©rieux SA
- Becton, Dickinson and Company
- Thermo Fisher Scientific
- Bruker Corporation
- Danaher Corporation
- Bioguard Corporation
- Liofilchem S.r.l.
- HiMedia Laboratories
- Bio-Rad Laboratories
- Neogen Corporation
Browse through Grand View Research's coverage of the Global Animal Health Industry:
- Aquaculture Vaccines Market – The global aquaculture vaccines market size was valued at USD 322.4 million in 2020 and is expected to expand 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 growing demand for aquatic animal-derived food products are the factors expected to drive the market.
- Veterinary Services Market – The global veterinary services market size was valued at USD 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 mainly driven by a significant rise in zoonotic and food-borne diseases globally.
- Veterinary Care Market – The global veterinary care market size was valued at USD 74.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. Increasing cases of chronic diseases in pets and livestock animals are fueling the demand for better veterinary care.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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