A recent report published by Infinium Global Research on antibiotic residue test kits market provides an in-depth analysis of segments and sub-segments in the global as well as regional antibiotic residue test kits market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional antibiotic residue test kits market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global antibiotic residue test kits market. According to the report, the global antibiotic residue test kits market is projected to grow at a CAGR of 6.67% over the forecast period of 2019-2025.
Antibiotic residue test kits market was accounted for around USD 182.45 million in 2018 and is anticipated to reach around USD 286.30 Million by the end of 2025. Antibiotic residue test kits test is used for the detection of antibiotic residues present in the animal origin food.
The antibiotic residue test kits market is driven by the advanced technology in the antibiotic residue test kits that can control or inhibit the microorganism’s growth in food. Moreover, growing awareness for the benefits and essentiality of antibiotic residual test kits in the food & beverages as well as the dairy industry is also expected to drive the antibiotic residue test kits market. However, less awareness about antibiotic residue test kit and its tests are anticipated to impede the growth of the global antibiotic residue test kits market. Nonetheless, Rising the health consciousness and health benefits of antibiotic residue test kits and increasing demand from dairy and food & beverages industry are estimated to create a new opportunity for the global antibiotic residue test kits market.
On the basis of region, the global antibiotic residue test kits market is bifurcated into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America was accounted for the largest market share global antibiotic residue test kits market in 2018 in terms of revenue and volume. North America is expected to be the dominating region within the projected period on an account of the rising veterinary industry as well as growing pets in the region and the technology adoption rate is high than the developing region.
The report on the global antibiotic residue test kits market covers segments such as product type, and end user. On the basis of product type, the sub-markets include tetracycline, macrolides, beta-lactams, aminoglycosides, amphenicols, and sulfonamides. On the basis of end user, the sub-markets include food and beverages industry, veterinary, independent laboratories, and other end users.
The report provides profiles of the companies in the market such as Thermo Fischer Scientific, Eurofins Scientific, Labtek Services Ltd., Charm Sciences, DSM, NEOGEN Food Safety, R-Biopharm AG, Sciex, IDEXX Labs, and Perkin Elmer (BioScientific Corp.).
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of antibiotic residue test kits market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.