Veterinary Antimicrobial Susceptibility Testing : Current Scenario, Regional Outlook, Market Size, Share, Major Players, Challenges and Segmentations, Report Forecast to 2031

The global veterinary antimicrobial susceptibility testing market is estimated to be worth 111.83 million in 2023 and will grow to 181.37 million by 2031, with a compound annual growth rate (CAGR) of 6.31% during the forecast period of 2024-2031.

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The market's expansion is driven by the increasing prevalence of multidrug-resistant organisms and the growing interest in precision medicine. Antibiotic-resistant infections in the United States annually exceed 2.8 million, according to the Centers for Disease Control and Prevention (CDC). The importance of antimicrobial susceptibility testing is increasing in response to the increasing prevalence of multi-drug immune diseases. Customized medicine initiatives and enhanced awareness campaigns are driving market expansion. Another critical factor contributing to the increased demand for antimicrobial susceptibility testing is the increased frequency with which pharmaceutical companies are conducting the tests. For instance, the World Health Organization (WHO) commemorates World Antibiotic Awareness Week (WAAW) annually from November 18-24. The theme for 2021 was "Spread Awareness, Stop Resistance," which encouraged all One Health stakeholders, policymakers, healthcare professionals, and the general public to promote AMR awareness.

Consequently, the antimicrobial susceptibility testing market is expected to experience growth during the forecast year, as indicated by the aforementioned data. However, the market's expansion is anticipated to be restricted by stringent regulatory government regulations and the challenges associated with antimicrobial susceptibility testing throughout the projection period.

List of Major Players in the Veterinary Antimicrobial Susceptibility Testing Market:

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

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Market Dynamics:

Drivers-

One of the primary factors driving market expansion is the surge in demand for novel medications and animal-derived products. The development of the market is also influenced by the expansion of the livestock population and the advancement of technology. Other significant variables that will contribute to the creation of attractive market expansion opportunities include the increasing cost of veterinary treatment for animals, an increase in the number of veterinarians, and an increase in the number of pet insurance policies and plans.

Challenges:

The rate of market growth will be impeded by the increasing costs of caring for pets and livestock, as well as the high cost of automated veterinary antibiotic susceptibility testing devices. Additionally, the approval of new tools and goods will be slowed by overly stringent government regulations.

Regional Trends:

The antimicrobial susceptibility testing market is expected to be dominated by North America for the forecast period. This is due to the increasing use of antibiotics in the research area and the increasing prevalence of antibiotic-resistant diseases. For example, the use of azithromycin in nursing homes increased by 150% in April 2020 and by 82% in December 2020, as reported in the "COVID-19: U.S. Impact on Antimicrobial Resistance, Special Report 2022." Through October 2020, azithromycin prescriptions were at an elevated level.

Additionally, the market is expected to experience growth due to the implementation of effective government initiatives, the expansion of research partnerships, the implementation of well-established awareness campaigns for precision medicine, and the utilization of antimicrobial testing. One such example is the second United States National Action Plan for Combating Antibiotic-Resistant Bacteria for 2020-2025, published by the White House in 2020. This plan contained coordinated, planned activities that were intended to enhance the health and well-being of all Americans.

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Recent Developments:

• In May 2022, NanoSynex Ltd., a business in which Qualigen Therapeutics recently finalized arrangements to acquire a majority stake, was highlighted at BioMed Israel, according to a statement from Qualigen Therapeutics. The objective of NanoSynex's innovative technology is to six-fold accelerate the speed of antimicrobial susceptibility test results.

Segmentation of Veterinary Antimicrobial Susceptibility Testing Market-

By Animal Type-
• Livestock Animals
o Cattle
o Poultry
o Pigs
o Others
• Companion Animals
o Horses
o Dogs
o Cats
o Others

By Product-
• Automated AST Instruments
• Culture Media
• Disks & Plates
• Accessories & Consumables

By End Use-
• Veterinary Reference Lab
• Veterinary Research Institutes
• Others

By Region-

North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.