Veterinary Antimicrobial Susceptibility Testing Market Latest Research On Industry Growth, Trends, Top Players, & Key Regions By 2027

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[150+ Pages Research Report] According to the recent analysis research report; the global Veterinary Antimicrobial Susceptibility Testing Market in 2020 was approximately USD 102 million. The market is expected to grow at a CAGR of 7.0% and is anticipated to reach around USD 37 million by 2027. Top market players are BioMérieux SA (France), Thermo Fisher Scientific (US), Bruker Corporation (US), Danaher Corporation (US), Becton, Dickinson and Company (US), Synbiosis (UK), Liofilchem S.r.l. (Italy), HiMedia Laboratories (India), Bio-Rad Laboratories (US), Neogen Corporation (US), Mast Group Ltd. (UK), Condalab (Spain), FASTinov (Portugal), Hardy Diagnostics (US), Bioguard Corporation (Taiwan), and SSI Diagnostica A/S (Denmark)

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Growth Factors:

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.

Veterinary Antimicrobial Susceptibility Testing Market Dynamics

Driver: Growing threat of antimicrobial resistance due to overuse of antibiotics

The overuse of antimicrobials as growth promoters in food-producing animals (especially in the poultry and swine sectors) is a major concern worldwide. Apart from being used as growth promoters, antimicrobials are also included in animal feed as preventative prophylactic and metaphylactic treatment measures. The use of antimicrobials (as growth promoters as well as prophylactic treatment measures) is reportedly higher in healthy animals than in sick animals. According to the WHO, approximately 80% of all antibiotics manufactured worldwide are used in livestock animals. The easy availability of antimicrobials from feed suppliers is a major reason for its overuse. Antimicrobial overuse, however, increases the risk of antimicrobial resistance (AMR), which leads to serious clinical and economic implications. Government and regulatory bodies have also designed antimicrobial stewardship programs to increase awareness in veterinarians, livestock farmers, and pet owners. These programs recommend restricting the use of antimicrobials as growth promoters in livestock animals and promote the adoption of antimicrobial susceptibility tests before prescribing commonly used antibiotics for sick animals.

Restraint: High cost of automated veterinary antimicrobial susceptibility testing systems

One of the main drawbacks of traditional or manual veterinary antimicrobial susceptibility testing methods (such as agar dilution, chromogenic agar method, disk diffusion, and micro-broth dilution) is the time taken to obtain the results, which can vary from 24 to 48 hours. Automated veterinary antimicrobial susceptibility testing systems provide rapid results with better accuracy and fewer chances of human error. However, the adoption of these systems in veterinary laboratories is limited, especially in developing countries due to their high cost. Moreover, expensive reagents and consumables are used for these systems, along with additional costs incurred for trained personnel. This increases the overall test cost. The high cost of these diagnostic tests is one of the major reasons for the low adoption in developed as well as developing countries. Since the volumes of veterinary samples received for testing are generally small, veterinary diagnostic laboratories do not prefer to invest in expensive systems. Most veterinary practices are small or medium-sized, with strict budgetary constraints; the high cost of these systems is, therefore, a major market restraint.

Opportunity: Rising focus on veterinary antimicrobial susceptibility testing in emerging markets due to supportive government initiatives

Companion animal ownership has grown significantly across the globe. This is particularly evident in emerging markets in the APAC and Latin American countries due to urbanization and an increase in disposable incomes—which have expanded access to animal healthcare and enabled owners to spend more on pet care. Emerging countries like India and China have robust livestock markets. According to the Livestock Production Statistics of India 2018, India is one of the largest milk producers followed by the US, China, Brazil, and Pakistan. According to the USDA Foreign Agricultural Service in 2017, China is the fourth-largest beef producer in the world. According to the FAO, China was also the world’s largest hog producer and pork consumer.  Milk consumption in China is also increasing at a rapid pace. To provide quality animal-derived food products, various animal healthcare products are used to prevent and control diseases in livestock animals. This increasing government focus and efforts to promote the appropriate usage of antibiotics in emerging countries has increased the number of clinical diagnostic procedures carried out, which, in turn, would increase the sales of AST products in these regions. The emerging economies are expected to become a focal point for the growth of the veterinary antimicrobials susceptibility testing market. The Asia Pacific, Middle Eastern, and Latin American regions are relatively untapped markets for companies compared to Europe and North America. Growth in these untapped markets is supported by various initiatives by government organizations to combat veterinary antibiotic resistance.

Challenge: Low awareness about antimicrobial resistance in veterinarians and livestock farmers

The major driver for antibiotic resistance is widespread antibiotic use, including appropriative and inappropriate use. The Centers for Disease Control and Prevention (CDC) reports that up to 50% of all antibiotics in outpatient healthcare are unnecessarily or incorrectly prescribed. To reduce the inappropriate use of antibiotics, various associations and regulatory bodies have published guidelines for the use of antimicrobials. For instance, the International Society of Companion Animal Infectious Diseases (ISCAID) has published antibiotic guidelines for three disease syndromes—canine pyoderma, canine and feline urinary tract infections, and canine and feline respiratory diseases. Culture and sensitivity testing is an important diagnostic tool that provides information about infection etiology and resistance profiles. However, awareness regarding the importance of these diagnostic tests and AMR in veterinarians in developed as well as developing countries is very low. According to a Washington State Study report (a survey of veterinary antimicrobial prescribing practices in Washington State 2015), almost 25% of veterinarians in Washington state (US) are not currently using AST, and the remaining 75% of veterinarians use it less than 75% of the time.

North America is expected to account for the largest share of the veterinary antimicrobial susceptibility testing market in 2020

In 2020, North America accounted for the largest share of the global veterinary antimicrobial susceptibility testing market. The US accounted for the largest share of the North American veterinary antimicrobial susceptibility testing market. The veterinary antimicrobial susceptibility testing market in North America is characterized by the increasing population of companion and food-producing animals, rising meat and dairy product consumption, the availability of technologically advanced veterinary reference laboratories, strict guidelines for usage of antimicrobials, rising veterinary healthcare expenditure, and growth in pet insurance coverage.

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COVID-19 Impact on Veterinary Antimicrobial Susceptibility Testing Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Veterinary Antimicrobial Susceptibility Testing market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Veterinary Antimicrobial Susceptibility Testing market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Veterinary Antimicrobial Susceptibility Testing market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Veterinary Antimicrobial Susceptibility Testing market include:

BioMérieux SA (France), Thermo Fisher Scientific (US), Bruker Corporation (US), Danaher Corporation (US), Becton, Dickinson and Company (US), Synbiosis (UK), Liofilchem S.r.l. (Italy), HiMedia Laboratories (India), Bio-Rad Laboratories (US), Neogen Corporation (US), Mast Group Ltd. (UK), Condalab (Spain), FASTinov (Portugal), Hardy Diagnostics (US), Bioguard Corporation (Taiwan), and SSI Diagnostica A/S (Denmark)

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Global Veterinary Antimicrobial Susceptibility Testing Market, by Product Type                                   

  • Disks and Plates
  • Culture Media
  • Accessories & Consumables
  • Automated AST Instruments

Global Veterinary Antimicrobial Susceptibility Testing Market, by Animal Type     

  • Food-producing Animals
  • Cattle
  • Pigs
  • Poultry
  • Other Food-producing Animals
  • Companion Animals
  • Dogs
  • Cats
  • Horses
  • Other Companion Animals

Global Veterinary Antimicrobial Susceptibility Testing Market, by End User            

  • Veterinary Reference Laboratory
  • Veterinary Research Institutes and Universities
  • Other End Users

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/veterinary-antimicrobial-susceptibility-testing-market

Why Buy this Report?

The purpose of Nova one advisor’s Veterinary Antimicrobial Susceptibility Testing market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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l Susceptibility Testing Market Forecast

James Root

James Root have over 6+ years of experience working in business development, and customer retention. I’ve gained my experience through serving higher education, healthcare, automotive, aerospace, manufacturing, local government and hospitality businesses with technical solutions.

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