Antimicrobial Susceptibility Testing Market is Projected To Reach USD 4,736.03 Million By 2030 Registering A CAGR of 5.8% - Valuates Reports
BANGALORE, India, Jan. 3, 2022 /PRNewswire/ -- Antimicrobial Susceptibility Testing Market by Product Type (Manual Products, Automated Products and Consumables), By Method Type (ETEST, Disks Diffusion, Rapid Automation Method and Other), and End User (Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.
The global antimicrobial susceptibility testing market was valued at USD 3,040 million in 2020 and is projected to reach USD 4,736.03 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.
Major factors driving the growth of the antimicrobial susceptibility testing market are
The rising prevalence of infections caused by bacterial pathogens and antibiotic overuse, which leads to antibiotic resistance in bacterial organisms; the development of better standards for fungal susceptibility; and the growing use of rapid commercial AST systems for fungal testing are all driving the Antimicrobial Susceptibility Testing market forward.
The global antimicrobial susceptibility testing market is driven by an increase in the occurrence of hospital-acquired diseases, a spike in the patient population base, particularly in developing nations, and better government awareness to combat antibiotic resistance. Because of the rising prevalence of infectious diseases, epidemics, and the COVID-19 pandemic, the global antimicrobial susceptibility testing market is growing.
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TRENDS INFLUENCING THE GROWTH OF ANTIMICROBIAL SUSCEPTIBILITY TESTING MARKET
Antimicrobial resistance testing has become more popular as the occurrence of infectious disease outbreaks such as Neisseria meningitides, Shigella, Neisseria gonorrhoeae, and Salmonella serotype Typhi has increased, owing to a lack of water, sanitation, and sanitary conditions. As a result, physicians have understood the importance of performing antibiotic susceptibility tests (ASTs), which are now a necessary component of clinical microbiology laboratories and are expected to drive the antimicrobial susceptibility testing market.
Furthermore, growing emphasis on drug discovery, the emergence of new diseases, as well as the increasing incidences of chronic disorders and the emergence of antimicrobial resistance (AMR) have in turn increased the use of antimicrobial susceptibility testing by biopharmaceutical, biotechnological, and pharmaceutical companies. This trend is expected to drive the growth of the antimicrobial susceptibility testing market during the forecast period.
The rising prevalence of hospital-acquired infections (HAIs), an expansion in the patient population base (especially in developing countries), and increased government awareness of the need to battle antimicrobial resistance is expected to fuel the antimicrobial susceptibility testing market even more. On a larger scale, testing helps with the evaluation of treatment services given by hospitals, clinics, and national infectious disease control and preventive programs. Researchers have recently been obliged to undertake continuous monitoring operations for resistance patterns as a result of changes in microbial genomes.
Due to better healthcare infrastructure, an increase in unmet healthcare needs, and an increase in the prevalence of antimicrobial resistance in populations, there are lucrative growth opportunities for the antimicrobial susceptibility testing market in emerging countries. Moreover, the availability of various manual products, as well as automated products that provide results in less time with higher accuracy for testing, is an emerging opportunity for key market players to invest in the antimicrobial susceptibility testing market, which will accelerate the market's expansion and provide significant growth opportunities during the forecast period.
Automated antimicrobial susceptibility testing devices are expensive since they include a lot of advanced features and functions. Incubation and detection times are cut in half when automated AST methods are used. The high cost of these systems is a major impediment to their widespread adoption by end-users, particularly by small-budget institutions.
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ANTIMICROBIAL SUSCEPTIBILITY TESTING MARKET SHARE ANALYSIS
Due to increased demand for manual products due to ease of availability, simplicity of use, and cheap cost compared to automated products, the manual product segment led the market in 2020 and is likely to continue this trend during the forecast period.
The disc diffusion segment led the market in terms of method type in 2020, and it is likely to maintain its dominance during the forecast period, owing to its ease of use and low costs.
Based on end-user, the Hospitals and diagnostic laboratories witness the fastest growth in 2020, and this trend is projected to continue throughout the forecast period.
In 2020, North America had the majority of the worldwide antimicrobial susceptibility testing market share, and this trend is expected to continue during the forecast period. This is due to an increase in antibiotic resistance, the presence of significant players, increased healthcare spending, technological improvements, and increased government actions in the region.
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By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
By Key Players
- Accelerate Diagnostics, Inc.
- Becton, Dickinson and Company,
- Biomerieux SA,
- Bio-Rad Laboratories, Inc.,
- Bruker,
- Danaher Corporation (Beckman Coulter),
- F. Hoffmann-La Roche AG,
- HiMedia Laboratories,
- Merck KGaA (MilliporeSigma),
- Thermo Fisher Scientific
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