The report covers forecast and analysis for the antibiotic residue test kits market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the antibiotic residue test kits market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the antibiotic residue test kits market on a global level.
As per the report, the global demand for antibiotic residue test kits market was valued at approximately USD 175.8 million in 2018 and is expected to generate revenue of around USD 290.9 million by end of 2025, growing at a CAGR of around 6.5% between 2019 and 2025.Global demand for antibiotic residue test kits market is anticipated to be driven by an increase in awareness about the benefits of antibiotic residual test kits in the dairy industry. Also, the increase in use by consumers due to the awareness is driving the market. Antibiotic residue test kits developed from a simple diagnostic kit to a multi-disciplinary test that has incurred distinguished development in term of detecting the residue. Rapid advancements in the kits to inhibit the growth of the microorganisms is also driving the growth of the market for antibiotic residue test kits.
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Based on test type, market is segmented into beta-lactams, tetracycline, amphenicols, macrolides, aminoglycosides, and sulfonamides. Beta-lactams test is expected to dominate the test type segment of the market for antibiotic residue test kits. The predominant use of this test in the food and beverages industry for detecting the antibiotic residues is fueling the growth of the segment. Sulfonamides test is projected to show the highest growth rate in upcoming years.
Based on end user, the market is segmented into food and beverages industry, independent laboratories, veterinary, and others. Food and beverages industry dominated the end-user segment of the market for antibiotic residue test kits market. These kits are used to ensure that food and dairy products have no antimicrobial activities. They are also used to inhibit the growth of the microorganisms which are present in beverages as well as food. Veterinary end-user segment is projected to show a high growth rate in the forecast years.
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North America dominated the global antibiotic residue test kits market and accounted for about 35% market share in 2018. North America region is projected to lead the market over the forecast period owing to the presence of major consumer base in the U.S., rise in veterinary due to growing number of pets, and technologically advanced products. Europe is expected to acquire second highest share after North America owing to the large consumer base, growing food and beverages industry, and highly developed healthcare and biotechnology industry infrastructure. Asia Pacific is expected to show high growth rate in the forecast period due to the increasing consumer base, growing dairy industry, and developing biotechnological industry in developing countries.
Some of the key players in antibiotic residue test kits market include Charm Sciences, Thermo Fischer Scientific, Labtek Services Ltd., DSM, Eurofins, NEOGEN Food Safety, Perkin Elmer (BioScientific Corp.), R-Biopharm, IDEXX Labs, and Sciex
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Global Antibiotic Residue Test Kits Market: Product Type Segment Analysis