Veterinary Antimicrobial Susceptibility Testing Market Is Estimated To Register A CAGR Of 5.1% To 2028Posted by rahul nikade on September 2nd, 2022 Veterinary Antimicrobial Susceptibility Testing Industry Overview The global veterinary antimicrobial susceptibility testing market size was valued at USD 35.73 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. The growing government initiatives and stringent regulatory guidelines are expected to propel the market growth over the forecast period. For instance, in 2022, new EU legislation will prohibit the use of all types of routine antibiotic usage of antibiotics in farming. The COVID-19 pandemic has had a very low impact on the market. However, the demand for antimicrobial susceptibility testing kits has been drastically lowered due to the reduced vet visits during the lockdown. The demand for animal protein and livestock products has also reduced during the first two quarters of 2020. The market showed a V-shaped recovery and vet visits became redeemed, which is bolstering the growth. According to IDEXX, the U.S. clinic visit increased by 6% in Q4 2020, which is expected to fuel the revenue growth over the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Veterinary Antimicrobial Susceptibility Testing Market According to OECD, the amount of antimicrobials used in food animals will increase from 63,151 tons to 105, 596 tons by 2030 globally. Approximately, 45mg of antimicrobials are used to produce 1 kg of beef. Moreover, 148mg of antimicrobials are used for 1 kg of chicken. The top 5 consumers of antimicrobials are China, the U.S., Brazil, India, and Germany, respectively. For instance, in the U.S., around 80% of the annual consumption of antimicrobials was for food animals in 2019. The livestock population globally has been rapidly increasing. The demand for livestock products is growing in developing and developed countries. This has led to a rise in concerns over the health of livestock. According to the United States Department of Agriculture, National Agricultural Statistics Service, as of January 2021, the number of cattle and calves in the U.S. was 93,594,500 and that of the beef cow was 31,157,600. Due to the rising urbanization, consumers are becoming more aware of the nutritious value of animal protein. There is also an increasing demand for healthy, sustainable, and high-quality meat products, especially those with comparatively few or no antibiotics. This is, in turn, increasing the demand for antimicrobial susceptibility testing (AST). Browse through Grand View Research's Animal Health Industry Research Reports.
Veterinary Antimicrobial Susceptibility Testing Market Segmentation Grand View Research has segmented the global veterinary antimicrobial susceptibility testing market on the basis of animal type, product, end-use, and region: Veterinary Antimicrobial Susceptibility Testing Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
Veterinary Antimicrobial Susceptibility Testing Product Outlook (Revenue, USD Million, 2016 - 2028)
Veterinary Antimicrobial Susceptibility Testing End-use Outlook (Revenue, USD Million, 2016 - 2028)
Veterinary Antimicrobial Susceptibility Testing Regional Outlook (Revenue, USD Million, 2016 - 2028)
Market Share Insights
Key Companies profiled: Some prominent players in the global veterinary antimicrobial susceptibility testing market include
Order a free sample PDF of the Veterinary Antimicrobial Susceptibility Testing Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Like it? Share it!More by this author |