Veterinary antimicrobial susceptibility testing is an important tool used by veterinarians to identify pathogens in animals and select the most appropriate antimicrobial agent to treat these diseases and infections.
New York, March 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Antimicrobial Susceptibility Testing Market by Product, Animal ,End User - Global Forecast to 2026" - https://www.reportlinker.com/p06036844/?utm_source=GNW
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%. 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. On the other hand, the high cost of automated veterinary AST systems and rising pet care costs are expected to restrain the overall market growth to a certain extent.
Based on product type, the disks and plates segment holds the largest market share during the forecast period.
Based on products, the veterinary antimicrobial susceptibility testing market is segmented into disks & plates, culture media, accessories & consumables, and automated AST instruments.In 2020, the disks & plates segment accounted for the largest share of the market.
The large share of this segment can be attributed to the high utilization of antimicrobial susceptibility tests for the disk diffusion method and the increasing prevalence of infectious diseases in food-producing and companion animals.
Based on animal type, the Food-producing animal segment holds the largest market share during the forecast period.
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 shareof 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.
Based on end user, the veterinary ASTsegment is expected to register the highest CAGR during the forecast period.
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 shareof 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).
North America is expected to account for the largest share of the veterinary antimicrobial susceptibility testing market in 2020
Geographically, the veterinary antimicrobial susceptibility testing market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.North America accounted for the largest shareof the veterinary antimicrobial susceptibility testing market in 2020.
The large share of this region is mainly due to the increasing awareness about antimicrobial resistance among veterinarians and livestock farmers, strict government regulations regarding the usage of antimicrobials in livestock animals, availability of advanced veterinary diagnostic laboratories, increasing adoption of pet animals, the growing pet insurance industry, and rising veterinary healthcare expenditure in the region.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–60%, Tier 2–30%, and Tier 3–10%
• By Designation – C-level–30%, Director-level–50%, Others–20%
• By Region – North America–45%, Europe–15%, AsiaPacific–25%, Latin America- 10%, Middle East and Africa–5%
Key players in the Veterinary ASTmarket
The key players operating in the veterinary antimicrobial susceptibility testingmarketincludeThermo 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).
The report analyzes the veterinary antimicrobial susceptibility testing marketand aims at estimating the market size and future growth potential of this market based on various segments such as animal type, product type, end user,andregion.The report also includes aproduct portfolio matrix of various veterinary ASTproductsavailable in the market.
The report also providesa competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would helpthem, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies tostrengthen their position in the market.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global veterinary antimicrobial susceptibility testingmarket. The report analyzes this marketbyproduct, animal, and end user
• Product Enhancement/Innovation: Detailed insights on upcoming trends and productlaunches in the global veterinary antimicrobial susceptibility testingmarket
• Market Development: Comprehensive information on the lucrative emerging markets by product, animal, and end user
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in theglobal veterinary antimicrobial susceptibility testingmarket
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in theglobal veterinary antimicrobial susceptibility testingmarket.
Read the full report: https://www.reportlinker.com/p06036844/?utm_source=GNW
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