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%.
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Since
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 market
Based
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. This segment is further
categorized into cattle, pigs, poultry, and other 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 period
The
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 market
Based
on end users, the veterinary antimicrobial susceptibility testing market is
segmented into veterinary reference laboratories, veterinary research
institutes and universities, and other end users. Veterinary reference
laboratories accounted for the largest share of the market in 2020. The large
share of this segment can be attributed to the large number of samples received
for AST in reference laboratories from small and large animal practices. This
segment is also expected to register the highest growth during the forecast
period (2021–2026).
Asia Pacific is expected to account for the highest CAGR for
players operating in the veterinary AST market.
The
Asia Pacific region is expected to register the highest CAGR during the forecast
period. Growth in pet adoption, increasing awareness about animal health, and
the growing per capita animal health expenditure, especially in India and
China, contribute to the growth of the APAC veterinary antimicrobial
susceptibility testing market.
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Key Players:-
Some
of the major players in the veterinary antimicrobial susceptibility testing
market include Thermo Fisher Scientific Inc. (US), Becton, Dickinson and
Company (US), Bruker Corporation (US), bioMérieux SA (France), Danaher
Corporation (US), Bio-Rad Laboratories, Inc. (US), Neogen Corporation (US),
HiMedia Laboratories (India), Mast Group Ltd. (UK), Bioguard Corporation
(Taiwan), SSI Diagnostica A/S (Denmark), Condalab (Spain), FASTinov SA
(Portugal), Synbiosis (UK), Hardy Diagnostics (US), and Liofilchem Srl (Italy).
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