Antimicrobial Susceptibility Testing Market size is expected to reach Worth USD 6.08 Billion in 2032 | Emergen Research
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Market Size – USD 3.54 Billion in 2022, Market Growth – at a CAGR of 5.5%, Market Trends – Technical developments in antimicrobial susceptibility products
VANCOUVER, BRITISH COLUMBIA, CANADA, May 9, 2023 /EINPresswire.com/ -- The global antimicrobial susceptibility testing market size is expected to reach USD 6.08 Billion at a steady revenue CAGR of 5.5% in 2032, according to latest analysis by Emergen Research. Antimicrobial susceptibility testing market revenue growth is expected to be driven by need for newer and more effective drugs due to rising multi-drug resistance in individuals. Antimicrobial Resistance (AMR) is a major threat to world health in the 21st century and calls for immediate action, according to the WHO. Drug-resistant illnesses already claim the lives of over 700,000 individuals annually, and by 2050, that number is expected to increase to 10 million. Correct treatment of patients against infections requires the use of Antibiotic Susceptibility Testing (AST), which establishes effective antibiotic doses and creates a profile of empirical therapy.
One of the primary restraints for market revenue growth is uncertainty in the efficacy of the test. For instance, susceptibility assays gauge antimicrobial effectiveness against bacteria in a lab setting (in vitro activity), not in a living organism (in vivo activity). Consequently, it cannot be expected that an antibiotic that destroys or inhibits an organism's growth in vitro would be an effective therapy, thus limiting the application of AST. Currently, culture-based testing procedures that take a lot of time are used for AST. Thus, traditional AST being lengthy and time taking also restrains demand.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with the product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share.
The major companies studied in the report include:
Danaher Corporation, Merck KGaA, HiMedia Laboratories, Bruker Corporation, BioMerieux SA, Bio-Rad Laboratories, Precise Automation, Roche Diagnostics, Accelerate Diagnostics Inc., Becton, Dickinson, and Company
The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Some Key Highlights From the Report
On 15 August 2022, a global commercial partnership deal was announced by BD, a significant global healthcare technology company, and Accelerate Diagnostics, Inc., a pioneer in rapid in-vitro microbiology diagnostics. As per the conditions of the contract, BD will give Accelerate access to its hourly results-based quick testing system for antibiotic susceptibility and resistance, as compared to one to two days with certain traditional laboratory techniques.
Antibacterial susceptibility testing segment is expected to account for largest revenue share over the forecast period, owing to an increase in number of individuals who are multi-drug resistant as a result of overusing wide-spectrum antibiotics. In developing countries, the incidence of resistant microorganisms, which make healthcare-associated infections (HAIs) more challenging to treat, is also on the rise globally.
Automated susceptibility testing instruments segment is expected to account for largest revenue share during the forecast period. Simplicity, automation, and compactness makes AST a widely used diagnostic tool. Computer integration has made online analysis and data interchange feasible, which is a substantial improvement for results validation, especially at faraway locations. Additionally, market revenue growth is being driven by new product releases by major companies in the industry and expanding Research and Development (R&D) initiatives.
Market in North America is expected to account for largest revenue share during the forecast period. One of the major factors driving revenue growth of the market in this region is technological advancements in antimicrobial susceptibility products. For instance, Accelerate Diagnostics, Inc. stated on 7 July 2021, that the Accelerate PhenoTest BC kit was available in the US in a new IVD format. According to this development, the organization now provides two choices for fast sepsis testing. It has been shown that the Accelerate Pheno system greatly improves clinical outcomes, such as the time it takes to get results, time it takes to get the best treatment, how long therapy lasts, and how long a patient must stay in hospital.
Read full Report Description with Table of Content and Figure @ https://www.emergenresearch.com/industry-report/antimicrobial-susceptibility-testing-market
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
Along with these details, the report also covers the segmentation of the market based on types, applications, end-user industry, and others. Analysis of each market segment, along with projections up to , is offered in the report. The report includes profitability, gross margins, global demand, sales volume, and growth prospects of each market segment.
Based on Type, the market is segmented into:
Component Outlook (Revenue, USD Billion; 2017-2027)
Manual Antimicrobial Susceptibility Testing Products
Automated Laboratory Instruments
Culture & Growth Media
Consumables
Type Outlook (Revenue, USD Billion; 2017-2027)
Antibacterial Susceptibility Testing
Antiparasitic Susceptibility Testing
Antifungal Susceptibility Testing
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Drug Discovery & Development
Clinical Diagnostics
Epidemiology
Others
Regional Segmentation:
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is New Additions in 2023?
Market Presence Across Multiple Geographies
Greater emphasis on data privacy and security
Online Interactive Peer-to-Peer Collaborative Bespoke Updates Edition
Detailed industry outlook
Additional information on company players
Customized report and analyst support on request
Recent market developments and it’s futuristic growth opportunities
Customized regional/country reports as per request
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