|04-20-2018 03:03 PM CET - Health & Medicine||
Global Antibiotic Residue Test Kits Market Rising Demand Leads to Sustained Growth during the Period 2017-2026
Press release from: Fact.MR
Fact.MR has been actively involved in offering comprehensive research data concerning various topics which are associated to industrial reference and investor utility. “Antibiotic Residue Test Kits Market Forecast, Trend Analysis & Competition Tracking - Global Review 2017 to 2026” Readers can access knowledge related to market volume, regional expanse as well as competitive landscape prevailing in the globalantibiotic residue test kits market. In order to study development patterns, this smart assessment also focuses on market dynamics, which talks about drivers, restraints and opportunities estimated to influence the concerned market during the forecast period.
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Key role of simple diagnostic tests in detecting the presence of antibiotic residues in foods derived from animals will continue to propel the demand for antibiotic residue test kits. These tests ensure the food is safe for human consumption. Findings from these tests are of great value in increasing the nutritional index of animal-based foods. Moreover, stringent food safety measures continue to necessitate the need for adopting antibiotic residue test kits in the food & beverage industry.
Fact.MR’s recent report estimates the expansion of the global market for antibiotic residue test kits for the period, 2017-2026. During this forecast period, the global antibiotic residue test kits market is expected to witness growth at 6.2% CAGR in terms of value. By the end of 2026, around US$ 295 Mn worth of antibiotic residue test kits are expected to be sold globally.
High Demand for Beta-lactams to Account for One-third Share of Global Market Value through 2026
The report reveals that during the forecast period, beta-lactams tests will be predominantly used in detecting antibiotics residues in foods and beverages. By the end of 2026, nearly 33% of the overall global antibiotic residue test kits market revenues will be procured from the sales of beta-lactams test kits. The report also observes a surging adoption of tetracycline tests, and the sales of these kits are pegged to bring in more than US$ 50 Mn by the end of 2026. The report further projects that sulfonamide tests will register fastest revenue growth over the forecast period, reflecting a value CAGR of 7.1%.
Food & Beverage Industry End-use to Translate High Revenue Growth
In 2018 and beyond, antibiotic residue test kits will be predominantly used in the food and beverage industry. A range of antibiotic residue test kits are being used for ensuring safety of milk and other dairy products. Their use in inhibiting the growth of microorganisms through anti-infection principles will further extend their end-use in the global production of food items and beverages. By the end of 2026, the end-use of antibiotic residue test kits in global food & beverage industry will bring in revenues worth over US$ 196 Mn. The report also reveals that the veterinary end-use of antibiotic residue test kits will register fastest revenue growth at an estimated 6.7% CAGR over the forecast period.
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Leading companies partaking in the development of antibiotic residue test kits have been profiled in this report. Companies namely, Thermo Fischer Scientific, DSM, Charm Sciences, Perkin Elmer (BioScientific Corp), Labtek Services Ltd., NEOGEN Food Safety, IDEXX Labs, R-Biopharm, Eurofins and Sciex are expected to instrument the global production of antibiotic residue test kits during the forecast period. Incorporating advancements in the field of antibiotic residue diagnostics will be prioritized by these market players. Moreover, several players in the global antibiotic residue test kits market will be eyeing at introducing multi-purpose kits in the near future.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Healthcare Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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