In 2020, Becton, Dickinson and Company& (US) announced collaboration with Fleming Fund Aid Program to help low- and middle-income countries tackle AMR and increase awareness about AST.
Northbrook, IL 60062 -- (SBWIRE) -- 01/18/2023 -- According to the new market research report "Veterinary Antimicrobial Susceptibility Testing Market by Product (Disks, Plates, Media, Accessories, Consumables, Automated AST), Animal (Dog, Cat, Horse, Cattle, Pig, Poultry),End User (Veterinary Reference Labs, Universities) - Global Forecast to 2026", published by MarketsandMarkets™, the Veterinary AST Market is expected to reach USD 135 million by 2026 from an estimated USD 100 million in 2021, at a CAGR of 6.1%.
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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. The rising focus on veterinary antimicrobial susceptibility testing in emerging markets due to supportive government initiatives and awareness initiatives for antimicrobial resistance and control offer significant growth opportunities for the market players. 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.
Since the beginning of 2020, the majority of the countries worldwide shut down their borders and limited transportation in a bid to contain the coronavirus (COVID-19) outbreak, thus, creating impediments for international trade and transportation.
BioMérieux S.A. (France) was the second-largest player in the global veterinary antimicrobial susceptibility testing market in 2020. The company has maintained its leadership position in the market through its strong distribution networks across North America, Europe, and Asia Pacific (especially Japan and China). VITEK is one of the main veterinary AST products offered by the company. This product's popularity has resulted in sustained growth in the company's Clinical and Industrial segments compared to the rest of the segments. The company strategically focuses on developing new technologies and is also a part of a stewardship program. With this program, the company will equip one clinical reference laboratory and one veterinary reference laboratory with the VITEK MS and VITEK 2 systems for pathogen identification and susceptibility testing and the MYLA software for data processing. Such initiatives will increase the company's presence in emerging markets.
Becton, Dickinson and Company (US) was the third-largest player in the global veterinary antimicrobial susceptibility testing market in 2020. To maintain its position in the market, the company focuses on the strategies of R&D and collaborations. The company's broad portfolio of veterinary AST products also makes it a market leader. The company mainly operates in more than 190 countries. It also focuses on developing technologically advanced diagnostic products for susceptibility testing to strengthen its position in this market. The company also funds various associations and projects related to antimicrobial resistance, strengthening its presence in the veterinary antimicrobial susceptibility testing market.
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Asia Pacific is expected to account for the highest CAGR for players operating in the veterinary AST market
The Asia Pacific region is expected to register the highest CAGR during the forecast period. Growth in pet adoption, increasing awareness about animal health, and the growing per capita animal health expenditure, especially in India and China, contribute to the growth of the APAC antimicrobial susceptibility testing market.
Key Market Player
Some of the major players in the veterinary antimicrobial susceptibility testing market include Thermo Fisher Scientific Inc. (US), Becton, Dickinson and Company (US), Bruker Corporation (US), bioMérieux SA (France), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US), Neogen Corporation (US), HiMedia Laboratories (India), Mast Group Ltd. (UK), Bioguard Corporation (Taiwan), SSI Diagnostica A/S (Denmark), Condalab (Spain), FASTinov SA (Portugal), Synbiosis (UK), Hardy Diagnostics (US), and Liofilchem Srl (Italy).
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