Seoul, June 26, 2023 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The antibiotic residue test kits market, which is now valued at US$184.5 million, is expected to grow at a 6.1% CAGR from 2023 to 2033. As a result, it is predicted that by the end of 2033, the global market would be worth US$ 333.4 million.
Diagnostic tools are frequently employed to find antibiotics in animal-derived food products. Sales of antibiotic residue test kits are expected to be primarily driven by improvements in food technology and antibiotics detection throughout the course of the forecast period. Future market growth is anticipated to be supported by rising awareness of the advantages of using antibiotic residue test kits.
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Key Driving Forces Accelerating the Market Growth
- With growing awareness about the risks associated with antibiotic residues in food products, there is a rising concern among consumers, regulatory bodies, and food manufacturers about food safety. This has led to an increased demand for antibiotic residue test kits to ensure the safety and quality of food products.
- Governments and regulatory bodies across the globe have implemented strict regulations and standards regarding antibiotic residues in food products. For instance, the European Union has set maximum residue limits (MRLs) for antibiotics in food products. Compliance with these regulations has become crucial for food manufacturers, which has resulted in the increased adoption of antibiotic residue test kits.
- The livestock industry, including poultry, swine, and cattle, has witnessed significant growth in recent years. As antibiotics are commonly used in animal husbandry to prevent and treat diseases, there is a growing need to monitor and control antibiotic residues in animal-derived products. This has boosted the demand for antibiotic residue test kits in the livestock industry.
- Consumers are becoming more conscious about the quality and safety of the food they consume. There is a growing preference for organic and antibiotic-free products. To meet this demand, food producers and processors are increasingly adopting antibiotic residue testing to ensure their products meet the desired standards and labels, such as organic, antibiotic-free, or raised without antibiotics.
Vital indicators shaping the future of the industry
- With growing awareness about the risks associated with antibiotic residues in food products, there is a rising concern among consumers, regulatory bodies, and food manufacturers about food safety. This has led to an increased demand for antibiotic residue test kits to ensure the safety and quality of food products.
- Governments and regulatory bodies across the globe have implemented strict regulations and standards regarding antibiotic residues in food products. For instance, the European Union has set maximum residue limits (MRLs) for antibiotics in food products. Compliance with these regulations has become crucial for food manufacturers, which has resulted in the increased adoption of antibiotic residue test kits.
- The livestock industry, including poultry, swine, and cattle, has witnessed significant growth in recent years. As antibiotics are commonly used in animal husbandry to prevent and treat diseases, there is a growing need to monitor and control antibiotic residues in animal-derived products. This has boosted the demand for antibiotic residue test kits in the livestock industry.
- Consumers are becoming more conscious about the quality and safety of the food they consume. There is a growing preference for organic and antibiotic-free products. To meet this demand, food producers and processors are increasingly adopting antibiotic residue testing to ensure their products meet the desired standards and labels, such as organic, antibiotic-free, or raised without antibiotics.
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Challenges hindering the market growth
- There are various regulations and standards set by different countries and regulatory bodies regarding antibiotic residue levels in food products. Adhering to these regulations and obtaining necessary certifications can be a complex and time-consuming process for test kit manufacturers. Meeting the specific requirements of different markets adds further challenges.
- The lack of standardized testing methods for antibiotic residue detection poses a challenge for test kit manufacturers. Variations in testing protocols and techniques among different laboratories and regulatory agencies can lead to inconsistent results and hinder the reliability and comparability of test kit outcomes.
- Antibiotic residue test kits need to be highly sensitive and specific to detect even low levels of antibiotic residues accurately. Achieving this level of sensitivity while maintaining specificity can be challenging, particularly when testing complex matrices such as meat, milk, or seafood.
How competition influences the market
Key companies in the market should focus on launching advanced kits with better features to establish a strong market share. Moreover, competition encourages manufacturers to differentiate their products from competitors. They strive to develop unique features, improved performance, and advanced technologies in their test kits to attract customers.
- For instance, In June 2021, Royal DSM announced the launch of an automated system to optimize antibiotic residue detection in milk. Moreover, Delvotest was launched to work with the company’s previously launched products.
Key Companies Profiled
- IDEXX Labs
- Thermo Fischer Scientific
- Labtek Services Ltd.
- NEOGEN Food Safety
- DSM
- Charm Sciences
- Eurofins and Sciex
- Perkin Elmer (BioScientific Corp)
- R-Biopharm
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Antibiotic Residue Test Kits Industry Research Segmentation
- By Test Type:
- Beta-lactams
- Macrolides
- Tetracycline
- Aminoglycosides
- Amphenicols
- Sulfonamides
- By End Use:
- Food & Beverages
- Veterinary
- Independent Laboratories
- Others
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
What differences can the antibiotic residue test kits report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the Antibiotic residue test kits and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the Antibiotic residue test kits.
- Micro-economics factors that may hamper the prospects of some of the key segments.
- Recent spate of research and development (R&D) funding on key Antibiotic residue test kits.
- New business models paving way for disruptions in demand dynamic of key segments.
- Regional markets that will be future engine of growth and the industry trends that will support these markets.
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