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Antimicrobial Susceptibility Testing Market Worth $5.99 Billion by 2028
Meticulous Research®– a leading global market research company published a research report titled “Antimicrobial Susceptibility Testing Market, by Product (Manual {Susceptibility Discs, Plates, MIC Strips}, Consumables, Automated), Method (Diffusion, Dilution), Application (Clinical Diagnostics), End User (Hospitals, Pharma, Institutes) - Forecast to 2028.”Download free sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5062?utm_source=article&utm_medium=social+&utm_campaign=product&utm_content=07-02-2024
According to this latest publication from Meticulous Research®, the Antimicrobial Susceptibility Testing Market is expected to reach $5.99 billion by 2028, at a CAGR of ~6.4% during the forecast period. Some of the major factors driving the growth of the market include the high prevalence of infectious diseases, development of automated AST products, increasing government initiatives and funding towards antimicrobial susceptibility testing programs, technological advancements towards the development of new AST methods, and the emergence of multidrug resistance in microorganisms. However, stringent government regulations are expected to hinder the growth of this market to a certain extent. Emerging markets and active R&D to develop rapid antimicrobial susceptibility testing are expected to offer significant growth opportunities for players operating in the antimicrobial susceptibility testing market.
Antimicrobial Susceptibility Testing Market: Future Outlook
The Antimicrobial Susceptibility Testing Market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts for 2028- by Product (Manual AST Products {Susceptibility Discs, Susceptibility Plates, and MIC Strips}, Consumables, and Automated AST Products), Method (Disk Diffusion, Automated AST, Dilution, and Other Methods), Application (Clinical Diagnostics, Drug Discovery and Development, Other Applications), End User (Diagnostic Laboratories & Hospitals, Pharmaceutical and Biotechnology Companies, Research and Academic Institutes). The antimicrobial susceptibility testing market study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on product, the antimicrobial susceptibility testing market is segmented into manual antimicrobial susceptibility testing products, automated antimicrobial susceptibility testing products, and consumables. In 2021, the manual antimicrobial susceptibility testing products segment is expected to account for the largest share of the antimicrobial susceptibility testing market. The growth in this market is driven by and the low cost of the manual AST products and simple handling procedures. Availability of a diverse range of consumables for manual testing and easy interpretation of tests are further propelling the growth of this segment.
Based on method, the disk diffusion segment is expected to account for the largest share of the antimicrobial susceptibility testing market in 2021. The low cost associated with performing AST testing with the disk diffusion method and developments in the disk diffusion method with the use of automated technology is primarily boosting the segment growth.
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Based on application, the clinical diagnostics segment is expected to account for the largest share of the antimicrobial susceptibility testing market in 2021 due to the rising burden of antimicrobial resistance and growing awareness about the use of antimicrobial susceptibility testing methods.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the antimicrobial susceptibility testing market in 2021, followed by Europe and Asia-Pacific. Factors driving the North American market include the adoption of technologically advanced susceptibility testing methods and continuous research for new drugs using ASTs, along with the awareness about treatment options.
The key players operating in the antimicrobial susceptibility testing market are Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Becton, Dickinson and Company (U.S.), Danaher Corporation (U.S.), HiMedia Laboratories Pvt. Ltd. (India), MERLIN Diagnostika GmbH (Germany), Accelerate Diagnostics, Inc. (U.S.), Alifax S.r.l. (Italy), Creative Diagnostics (U.S.), Synbiosis (U.K.), and Zhuhai DL Biotech Co., Ltd (China), among others.
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Key questions answered in the report-
- Which are the high growth market segments in terms of product, method, application, end user, and regions/countries?
- What was the historical market for antimicrobial susceptibility testing across the globe?
- What are the market forecasts and estimates for the period 2021-2028?
- What are the major drivers, restraints, challenges, and opportunities in the antimicrobial susceptibility testing market?
- Who are the major players in the antimicrobial susceptibility testing market?
- How is the competitive landscape and who are the market leaders in the antimicrobial susceptibility testing market?
- What are the recent developments in the antimicrobial susceptibility testing market?
- What are the different strategies adopted by the major players in the antimicrobial susceptibility testing market?
- What are the geographical trends and high growth regions/ countries?
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