Antibiotic Residue Test Kits Market: Food & Beverage Industry End-use to Translate High Revenue Growth

 Advancements in antibiotic residue diagnostics have extended their use of test kits to detect the presence of such residue in food originating from animals. The adoption of antibiotic residue test kits is gaining considerable traction as a food safety measure. Consumers are preferring products that have cleared the antibiotic residue tests, considering the role of these kits in ensuring that the food contains the essential antibiotic elements.
According to Fact.MR’s latest forecast study, the global market for antibiotic residue test kits is pegged to expand robustly in the near future. Key findings from the report reveal that the global antibiotic residue test kits market will witness an expansion at 6.2% CAGR in terms of value over the forecast period, 2017-2026.
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High Demand for Beta-lactams to Account for One-third Share of Global Market Value through 2026
The report reveals that during the forecast period, beta-lactams tests will be predominantly used in detecting antibiotics residues in foods and beverages. By the end of 2026, nearly 33% of the overall global antibiotic residue test kits market revenues will be procured from the sales of beta-lactams test kits.
The report offers an overview of the global antibiotic residue test kits market. This comprises an introduction to the market, along with a standard definition of the product – antibiotic residue test kits. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period. The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
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The Fact.MR report provides segment-wise analysis and forecast for covering the wide scope of global antibiotic residue test kits market. Type of test, its end-user and region are key segments that define the growth of the global market for antibiotic residue test kits. In this segmentation analysis, a detailed country-wise forecast across all key market parameters is also included.
Food and beverage industry will represent the largest end-user of antibiotic residue test kits. More than 65% of the global antibiotic residue test kits market value will be accounted by the end-use of these kits in ensuring the safety of food items and beverages, particularly for dairy products. The report also observes a rampant end-use of antibiotic residue test kits in veterinary purposes.
In 2017, North America registered highest sales of antibiotic residue test kits. The consumer marketplaces in the US and Canada will continue to promote the use of antibiotic residue test kits in food safety measures. By the end of 2026, North America will be dubbed as the largest market for antibiotic residue test kits, surpassing an estimated valuation of US$ 100 Mn.
Competition Tracking
Leading companies partaking in the development of antibiotic residue test kits have been profiled in this report. Companies namely, Thermo Fischer Scientific, DSM, Charm Sciences, Perkin Elmer (BioScientific Corp), Labtek Services Ltd., NEOGEN Food Safety, IDEXX Labs, R-Biopharm.
The report commences with a brief information of the global NGS data analysis market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global NGS data analysis market.