Tag: veterinary antimicrobial susceptibility testing market report

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Veterinary Antimicrobial Susceptibility Testing Market: What is the Projected CAGR for 2024-2033?

The market size for veterinary antimicrobial susceptibility testing has shown robust growth in recent times. Its expansion is projected to continue from $34.78 billion in 2023 to $37.44 billion in 2024, yielding a compound annual growth rate (CAGR) of 7.7%. A number of factors have contributed to this growth during the historic period, including environmental issues, demand for precision medicine, the application of a ‘one health’ approach, rising consumer awareness, and the development of companion animal healthcare.

The market for veterinary antimicrobial susceptibility testing is projected to witness substantial expansion in the upcoming years, with the anticipated growth to $50.45 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 7.7%. This surge during the forecast period is attributed to factors like mitigating antibiotic resistance, meeting regulatory demands, the effect of worldwide health incidents, and the increase in pet ownership. Key trends expected throughout the forecast period comprise innovation in solutions, heightened regulatory attention, managing zoonotic diseases, and the enforcement of standards within the livestock industry.

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What Are the Primary Drivers Supporting the Growth of the veterinary antimicrobial susceptibility testing Market?

The increasing occurrence of zoonotic diseases is anticipated to expedite the expansion of the veterinary antimicrobial susceptibility testing market. Zoonotic ailments are infectious diseases that animals can transmit to humans or to other animals. The escalating incidences of these diseases necessitate the testing and identification of effective animal drugs. Veterinary antimicrobial susceptibility testing plays a crucial role in selecting the optimal medicine to treat bacterial infections in animals, by scrutinizing their treatment history among other factors. For example, a World Health Organization article published in July 2022 revealed a 64% increase in zoonotic cases in Africa, as reported by a US government agency. Worldwide and specifically in India, zoonotic diseases have seen a surge. These newly emerging infectious diseases, accountable for 60% of human cases, have resulted in 816 zoonotic pathogens out of 1,407 human pathogens. Consequently, the upsurge in zoonotic diseases incidence is propelling the veterinary antimicrobial susceptibility testing market’s growth.

What Are the Critical Segments of the Veterinary Antimicrobial Susceptibility Testing Market?

The veterinary antimicrobial susceptibility testing market covered in this report is segmented –

1) By Product Type: Disks And Plates, Culture Media, Accessories And Consumables, Automated AST (Antimicrobial Susceptibility Test) Instruments

2) By Animal Type: Livestock Animals, Companion Animals

3) By End-Use: Veterinary Reference Lab, Veterinary Research Institutes, Other End-Users

What Trends Are Paving the Way for Change in the Veterinary Antimicrobial Susceptibility Testing Market?

The emergence of technological advancements is a significant trend in the veterinary antimicrobial susceptibility testing market. The main firms in this sector are innovating new techniques to maintain their market position. The market has recently experienced the use of cutting-edge imaging methods and algorithms for a quicker, more reliable, and accurate veterinary AST. For instance, Thermo Fisher Scientific, a company based in the US, collaborated with Q-linea in October 2021 to introduce the ASTar System. This rapid antimicrobial susceptibility testing (rAST) system is completely automated and employs imaging techniques and algorithms to track bacterial growth, thereby eliminating the extra one to two days required for subculture.

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Which Regions Are Leading the Charge in Veterinary Antimicrobial Susceptibility Testing Market Development?

North America was the largest region in the veterinary antimicrobial susceptibility testing market in 2023. The regions covered in the veterinary antimicrobial susceptibility testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Veterinary Antimicrobial Susceptibility Testing Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the veterinary antimicrobial susceptibility testing market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Veterinary Antimicrobial Susceptibility Testing Market Include

1. Veterinary Antimicrobial Susceptibility Testing Market Executive Summary

2. Veterinary Antimicrobial Susceptibility Testing Market Segments

3. Veterinary Antimicrobial Susceptibility Testing Market Size And Template Market Growth Rate

4. Key Veterinary Antimicrobial Susceptibility Testing Market Trends

5. Major Veterinary Antimicrobial Susceptibility Testing Market Drivers

……

25. Key Mergers And Acquisitions In The Veterinary Antimicrobial Susceptibility Testing Market

26. Top Veterinary Antimicrobial Susceptibility Testing Companies

27. Veterinary Antimicrobial Susceptibility Testing Market Opportunities And Strategies

28. Veterinary Antimicrobial Susceptibility Testing Market, Conclusions And Recommendations

29. Appendix

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The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

The veterinary antimicrobial susceptibility testing market has experienced robust growth in recent years, driven by various factors such as environmental concerns, precision medicine demand, and the one health approach. With a promising trajectory, the market is set to witness significant expansion in the coming years.

Rising Zoonotic Disease Prevalence Spurs Market Growth:

• Zoonotic diseases, which can spread from animals to humans and vice versa, are becoming increasingly prevalent worldwide.
• The surge in zoonotic cases, particularly in regions like Africa and India, underscores the need for effective veterinary antimicrobial susceptibility testing.
• Major players like BioMérieux SA, Bio-Rad Laboratories, and Thermo Fisher Scientific Inc. are actively contributing to this market segment.

Technological Advancements Reshape Antimicrobial Susceptibility Testing:

• Innovations in technology play a pivotal role in driving advancements in veterinary antimicrobial susceptibility testing.
• Cutting-edge imaging techniques and algorithms are enhancing the accuracy and efficiency of testing procedures.
• Thermo Fisher Scientific’s ASTar System, launched in October 2021, exemplifies the integration of advanced technology for rapid antimicrobial susceptibility testing.

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BioMérieux’s Strategic Acquisition Strengthens Market Position:

• BioMérieux’s acquisition of Specific Diagnostics in May 2022 underscores its commitment to combating antimicrobial resistance.
• The acquisition aims to bolster BioMérieux’s leadership in clinical microbiology and expand its global presence in the veterinary antimicrobial susceptibility testing market.

Market Segmentation: The veterinary antimicrobial susceptibility testing market is segmented based on various criteria:

1. Product Type: Disks and Plates, Culture Media, Accessories and Consumables, Automated AST Instruments
2. Animal Type: Livestock Animals, Companion Animals
3. End-Use: Veterinary Reference Lab, Veterinary Research Institutes, Other End-Users

North America Leads Veterinary Antimicrobial Susceptibility Testing Market:

• In 2023, North America emerged as the largest region in the veterinary antimicrobial susceptibility testing market, driven by advanced healthcare infrastructure and robust research activities.
• The region’s focus on regulatory compliance and zoonotic disease control contributes to its market dominance.

Future Outlook and Trends: The veterinary antimicrobial susceptibility testing market is poised for continued growth, reaching $37.44 billion in 2024 and $50.45 billion by 2028, with a CAGR of 7.7%.

• Antibiotic resistance mitigation, regulatory requirements, and rising pet ownership will fuel market expansion.
• Key trends include innovative solutions, regulatory emphasis, and standards in the livestock industry.

Conclusion: The veterinary antimicrobial susceptibility testing market is witnessing unprecedented growth driven by the escalating prevalence of zoonotic diseases and technological innovations. With industry leaders investing in research and strategic acquisitions, the market is poised to address emerging challenges in animal healthcare and antimicrobial resistance. As the market continues to evolve, stakeholders must prioritize innovation and collaboration to meet the evolving needs of veterinarians, researchers, and pet owners worldwide.

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