Major Growth Driving Factors:
The rising prevalence of infectious diseases, high antibiotic resistance, and supportive government measures to lessen the burden of infectious diseases can all be linked to the expansion of the antimicrobial susceptibility testing (AST) industry. The use of antimicrobial susceptibility testing is growing due to an increase in specific illnesses such pneumonia and bloodstream infections caused by E. coli, K. pneumoniae, P. aeruginosa, and others.
Revneue Growth Dynamics:
The global antimicrobial susceptibility testing market in terms of revenue was estimated to be worth $3.6 billion in 2022 and is poised to reach $4.7 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027.
Driver: Emergence of multidrug resistance due to drug abuse
As medication resistance increases internationally, making diseases harder to cure and ultimately to mortality, antibiotics are becoming less and less effective. According to the WHO priority pathogen list, new antibiotics are urgently needed, for instance, to treat carbapenem-resistant gram-negative bacterial infections. Unfortunately, these novel medicines will experience the same destiny as the present antibiotics and become useless if people do not modify the way antibiotics are used currently.
Restraint: High Cost of automated Laboratory Instruments
Automated antimicrobial laboratory equipment has top-of-the-line features and functions, and it costs a lot of money. The incubation and detection times are shortened by the use of automated AST systems. The high cost of maintenance for these devices, which are well-equipped with cutting-edge software that requires routine upkeep, is another hurdle to this industry.
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Market Segmentation:
Automated Laboratory Instruments segment to register a significant growth rate over the forecast period of 2022-2027
Based on the product type, the antimicrobial susceptibility testing market is segmented into Manual antimicrobial susceptibility testing products, Automated Laboratory Instruments, Culture and Growth Media, and Consumables. with each segment covering various products used in susceptibility testing. Automated Laboratory Instruments hold the largest share of the antimicrobial susceptibility testing market in 2022. The large share of this segment can be attributed to Getting fast results than the traditional procedures used in susceptibility testing
The hospitals and Diagnostic centers segment accounted for the largest share of the Antimicrobial Susceptibility Testing market, by the end-user market in 2022.
Based on End users, the antimicrobial susceptibility testing market is segmented into Hospitals and Diagnostic centers, Pharmaceutical and Biotechnology companies, Research & Academic Institutes, and Clinical research organizations.
Geographical Growth Dynamics:
North America to register major growth in the market during the forecast period
North America microcatheter market is anticipated to register the highest growth over the forecast period of 2022 to 2027. North America accounted for the largest share of 35.4% of the antimicrobial susceptibility testing market in 2022. This market is projected to reach USD 1.6 billion by 2027 from USD 1.2 billion in 2022, at a CAGR of 5.3% during the forecast period.
The large share of North America can be attributed due to the growth in antibiotic resistance prevalence, the existence of important actors, an increase in healthcare spending, technological developments, and an increase in government activities in the area. Nonetheless, due to a rise in the region’s population generally and rising investments in the healthcare industry, Asia-Pacific is expected to experience significant development.
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Global Leading Companies:
As of 2021, prominent players in the market are include bioMérieux SA (France), Becton, Dickinson, and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US) among others.
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