Antimicrobial Susceptibility Test Are Expected to Reflect Attractive Near-term Opportunities for Market Players
Dublin, March 16, 2023 (GLOBE NEWSWIRE) — Fact.MR has provided detailed information about the price points of key manufacturers of Antimicrobial Susceptibility Test positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR, a market research and competitive intelligence provider, the global antimicrobial susceptibility Test market is estimated at US$ 3,285.8 million in 2022 and is expected to expand at an impressive CAGR of 5.7% during the forecast years of 2022-2032.
A lack of safe drinking-water and hygienic conditions has led to a rise in the prevalence of infectious disease outbreaks, including those caused by Shigella, Neisseria gonorrhoea, Neisseria meningitides, and Salmonella serotype Typhi. As a result, doctors are more aware of the value of conducting antibiotic susceptibility tests (ASTs), which are now an essential part of clinical microbiology laboratories and are anticipated to drive the antimicrobial susceptibility testing market.
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Additionally, the use of antimicrobial susceptibility test by biotechnological and pharmaceutical companies has increased as a result of the growing prominence on drug discovery as well as the rising incidences of chronic ailments and the emergence of antimicrobial resistance. Hence, during the projected period, this trend is anticipated to fuel the market for antimicrobial susceptibility testing.
Key market players now have a new opportunity to invest in the antimicrobial susceptibility testing market due to the availability of a variety of manual products as well as automated products that offer results for testing in less time and with a higher degree of accuracy. This opportunity will accelerate the market’s growth and present sizable growth opportunities during the forecast period.
Key Takeaways from Market Study
- The global demand for antimicrobial susceptibility test is projected to expand at an impressive CAGR of 5.7% and be valued at US$ 5,712.2 million by 2032.
- The market witnessed 4.1% CAGR for the period of 2017-2021.
- Under product, kits, reagents, & consumables dominates the market and are valued at US$ 1,828.1 million in 2022.
- North America dominated the market with 34.9% market share in 2021.
- Based on region, demand for antimicrobial susceptibility is expected to increase at CAGRs of 6% and 5%, respectively, in North America and Europe.
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Market Development
The top competitors in the market have modernised their manufacturing facilities and are working on various R&D projects. For major suppliers of antibiotic susceptibility testing systems- regulatory clearances, the launch of new & high tech products, acquisitions, and cooperative collaborations with other companies are all top goals.
Moreover, leading players in the antimicrobial susceptibility test market will have an advantage over local and regional competitors due to strong investment capacity in R&D activities.
Competitive Landscape
Prominent Antimicrobial susceptibility test manufacturers are Bio-Rad Laboratories, Inc., Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Conda, Creative Diagnostics, HiMedia Laboratories, Alifax Holding S.p.A., Biotron Healthcare.
The leading companies in the global antimicrobial susceptibility test market are involved in product launches, regulatory approvals, technologically enhanced products, acquisitions, and joint ventures with other enterprises. These strategies are probably going to boost the global market for antibiotic susceptibility tests.
- In Apr 2022, bioMérieux acquire specific diagnostics. This will help the company to strengthen its commitment to fight antimicrobial resistance.
- In Aug 2022, BD, a leading global medical technology company, announced worldwide commercial collaboration with Accelerate Diagnostics, Inc. which will help both the companies to address the global threat of antimicrobial resistance.
Segmentation of Antimicrobial Susceptibility Test Industry Research
- By Product :
- Kits, Reagents, & Consumables
- Automated Test Systems
- Culture Media
- By Method :
- Broth Dilution Method
- Rapid Automated Method
- Disk Diffusion Method
- Gradient Diffusion Method
- Molecular Testing Method
- By Test Type :
- Antibacterial
- Anti-parasitic
- Antifungal
- Others
- By Application .
- Clinical Diagnosis
- Drug Discovery and Development
- Others
- By End-user :
- Diagnostic Laboratories and Hospitals
- Research and Academic Institutes
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global antimicrobial susceptibility test market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product (kits, reagents, & consumables, automated test systems, culture media), method (broth dilution method, rapid automated method, disk diffusion method, gradient diffusion method, molecular testing method), test type (antibacterial, anti-parasitic, antifungal, others), application (clinical diagnosis, drug discovery and development, others), and end-user (diagnostic laboratories and hospitals, research and academic institutes, pharmaceutical and biotechnology companies, contract research organizations), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
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