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
|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|
Published: September 9, 2021
Grand View Research, Inc.
Content info: 150 Pages
Delivery time: 2-10 business days
Veterinary Antimicrobial Susceptibility Testing Market Growth & Trends
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.
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