The antimicrobial susceptibility testing market is projected to reach USD 4.2 billion by 2025 from USD 3.2 billion in 2020, at a CAGR of 5.5%
NEW YORK, Oct. 29, 2020 /PRNewswire/ -- The antimicrobial susceptibility testing market is projected to reach USD 4.2 billion by 2025 from USD 3.2 billion in 2020, at a CAGR of 5.5% during the forecast period. Growth of the market is mainly attributed to the technological advancements; increasing incidences of infectious diseases, and growing public and private investments, funding, and grants are driving the global antimicrobial susceptibility testing market. However, complex regulatory frameworks that delay the approval of new microbial susceptibility tests is expected to challenge market growth to a certain extent.
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In terms of products, automated laboratory instruments segment to register significant growth during the forecast period.
Based on the product, the antimicrobial susceptibility testing market is segmented into automated laboratory instruments, manual antimicrobial susceptibility testing products, culture and growth media, and consumables.Significant growth of the segment is attributed to the ongoing trend of laboratory automation among clinical laboratories, advantages offered by automated AST instruments over manual susceptibility instruments, and technological advancements in the market.
Automated instruments offer a wide range of advantages over manual susceptibility testing products, such as reduced labor cost, shortened incubation time, and large-volume sample handling. These advantages offered by the automated systems have led to the growth of this segment.
clinical diagnostics application segment is expected to witness the highest growth in the AST market, during the forecast period.
Based on application, the antimicrobial susceptibility testing market has been segmented into the antimicrobial susceptibility testing market is segmented into clinical diagnostics, drug discovery and development, epidemiology, and other applications. The growth in this market is attributed to the rising prevalence of infectious diseases, increasing incidence of HAIs, large target patient population base (especially in emerging countries), the growing procedural volume of clinical diagnostic tests, rising emphasis on effective and early disease diagnosis across major markets, and the introduction of various technologically advanced susceptibility testing products.
diagnostic laboratories and hospitals segment is expected to account for the largest share of the AST market, by the end user
On the basis of end-users, the antimicrobial susceptibility testing market has been segmented into diagnostic laboratories and hospitals, pharmaceutical and biotechnology companies, contract research organizations (CROs), and research and academic institutes.The growth of this segment is attributed to the significant number of antibacterial, antiparasitic, and antifungal tests procedures performed in diagnostic laboratories and hospitals; and the growing number of hospitals across major markets.
Moreover, a growing trend towards the utilization of rapid AST platforms and improving healthcare expenditure in emerging markets will further boost the growth of this segment in the coming years.
Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the heavy burden of infectious diseases, rising healthcare expenditure, and increasing research into AST. Apart from this, the rising number of biotechnology and pharmaceutical companies in the APAC region is expected to propel the market for antimicrobial susceptibility testing.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3– 21%
• By Designation: C-level–47%, Director-level–33%, and Others–20%
• By Region: North America–35%, Europe–32%, Asia Pacific–25%, Latin America–6%, and the Middle East & Africa–2%
Some of the prominent players in the antimicrobial susceptibility testing market include bioMérieux SA (France), Becton, Dickinson and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US), Bruker (US), Roche Diagnostics Limited (Switzerland), Accelerate Diagnostics, Inc. (US), Merck KGaA (US), Hi-Media Laboratories (India), Liofilchem S.r.l. (Italy), Alifax S.r.l. (Italy), Creative Diagnostics (US), Synbiosis (UK), Bioanalyse (Turkey), ZHUHAI DL BIOTECH Co., Ltd. (China), ELITechGroup (France), Mast Group Ltd. (UK), CONDALAB (Spain), Genefluidics, Inc. (US), Biotron Ltd (Australia), InvivoGen (US), MP Biomedicals (US), QuantaMatrix Inc. (South Korea), and PML Microbiologicals Inc. (US), among others.
Research Coverage
This report studies the AST market based on product, type, method, application, end user, and region.It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the AST market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the AST market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the AST market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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