Veterinary Antimicrobial Susceptibility Testing Market Dynamics and Key Players Leading the Growth.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Veterinary Antimicrobial Susceptibility Testing Market Size, Share & Trends Analysis Report By Animal Type (Livestock And Companion Animals Based On Animal Type), Product (Disks & Plates, Culture Media, Accessories & Consumables, And Automated AST Instruments), And End-Use (Veterinary Reference Lab, Veterinary Research Institutes)- Market Outlook And Industry Analysis 2031"

The global Veterinary Antimicrobial Susceptibility Testing market is estimated to reach over USD 58.66 billion by 2031, exhibiting a CAGR of 5.24% during the forecast period.

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The frequency of multidrug-resistant organisms and rising interest in precision medicine drive the market's expansion. The Centers for Disease Control and Prevention (CDC) estimate that more than 2.8 million illnesses in the U.S. are resistant to antibiotics yearly. Antimicrobial susceptibility testing is becoming more and more critical as the number of multi-drug immune diseases rises. The market is growing due to increased awareness campaigns and customized medicine initiatives. Pharmaceutical companies are using the tests more frequently, another vital driver driving the need for antimicrobial susceptibility testing to new heights. As an illustration, WHO observes World Antibiotic Awareness Week (WAAW) every year from November 18-24. Spread Awareness, Stop Resistance was the theme for 2021, and it urged all One Health stakeholders, policymakers, healthcare professionals, and the general public to advocate antimicrobial resistance (AMR) awareness.

Thus, in light of the data above, the antimicrobial susceptibility testing market is anticipated to expand over the forecast year. However, throughout the projection period, the market's expansion is expected to be constrained by strict regulatory government regulations and the difficulties involved with antimicrobial susceptibility testing.

List of Prominent Players in the Veterinary Antimicrobial Susceptibility Testing Market:
• Becton, Dickinson and Company (US)
• Bioguard Corporation
• BioMérieux SA
• Bio-Rad Laboratories
• Bruker Corporation (US)
• Condalab
• Danaher Corporation (US)
• FASTinov (Portugal)
• Hardy Diagnostics (US)
• HiMedia Laboratories (India)
• Liofilchem S.r.l. (Italy)
• Mast Group Ltd. (UK)
• Neogen Corporation (US)
• SSI Diagnostica A/S (Denmark)
• Synbiosis (UK)
• Thermo Fisher Scientific (US)

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Market Dynamics:
Drivers-
One of the primary reasons promoting the growth of the market is the spike in demand for novel medications and items generated from animals. Another factor influencing market growth is the expansion of the livestock population along with expanding technological advancements. Other significant variables that will contribute to the creation of attractive market expansion chances 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 market growth rate would be slowed down by rising expenses for caring for pets and livestock. The market will also be challenged by the high price of automated veterinary antibiotic susceptibility testing devices. Government rules that are too strict will slow down the rate at which new tools and goods are approved.

Regional Trends:
North America is anticipated to dominate the antimicrobial susceptibility testing market for the entire forecast period. This is a result of things like the rising prevalence of diseases that are resistant to antibiotics and the increased use of antibiotics in the study area. For instance, according to "COVID-19: U.S. Impact on Antimicrobial Resistance, Special Report 2022," azithromycin use in nursing homes increased by 150% in April 2020 and by 82% in December 2020. Prescriptions for azithromycin were high through October 2020.

Also, effective government initiatives, an increase in the number of research partnerships, well-established awareness campaigns for precision medicine and the use of antimicrobial testing are some of the aspects anticipated to boost the market growth. One such example is the second United States National Action Plan for Combating Antibiotic-Resistant Bacteria for 2020-2025, which was published by the White House in 2020 and contained coordinated, planned activities to improve the health and well-being of all Americans.

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Recent Developments:
• In May 2022, NanoSynex Ltd., a business in which Qualigen recently finalised arrangements to acquire a majority stake, was highlighted at BioMed Israel, according to a statement from Qualigen Therapeutics. The goal of NanoSynex's innovative technology is to six-fold accelerate the turnaround time for antimicrobial susceptibility test findings.

Segmentation of Veterinary Antimicrobial Susceptibility Testing Market-
By Animal Type-
• Livestock Animals
o Cattle
o Poultry
o Pigs
o Others
• Companion Animals
o Cats
o Dogs
o Horses
o Others
By Product-
• Disks & Plates
• Culture Media
• Accessories & Consumables
• Automated AST Instruments
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.