DUBLIN–(BUSINESS WIRE)–The “Antimicrobial Susceptibility Testing Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The global antimicrobial susceptibility testing market is expected to grow with a CAGR of 5.3% during the forecast period.
The major factors attributing to the growth of the market are the increasing prevalence of multidrug-resistant organisms and growing awareness of precision medicine. According to the Centers for Disease Control and Prevention, more than 2.8 million antibiotic-resistant infections happen in the United States every year, and more than 35,000 people die. The increasing number of multidrug-resistant diseases increases the need for antimicrobial susceptibility testing.
The rising awareness programs and initiatives for personalized medicine have a positive effect on the growth of the market and the other factor which is playing a pivotal role in taking the antimicrobial susceptibility testing market to the next level is increasing the use of the tests by the pharmaceutical companies. However, stringent regulatory government polices and the challenges associated with antimicrobial susceptibility testing are expected to restrain the growth of the market over the forecast period.
Key Market Trends
Antibacterial Segment Dominates the Market
- Antibacterial susceptibility testing is used to ascertain the specific drugs which affect the particular bacteria. These tests can guide the physician in drug preference and dosage for difficult-to-treat infections.
- According to Tbfacts. (Read more…)org, there were an estimated 484,000 incident cases of multidrug resistance/ Rifampicin resistance, TB in 2018. Half of these cases were in India (27%), China (14%) and the Russian Federation (9%). There is more about TB in India and TB in China.
- Furthermore, over usage of antibacterial drugs and mutations in bacteria are leading to high rates of bacterial resistance. For instance, overuse of broad-spectrum antibiotics, such as second- and third-generation cephalosporins, greatly hastens the development of methicillin resistance.
- Thus, considering the rising incidence of antimicrobial resistance there will be huge demand of antimicrobial susceptibility testing over the forecast period.
North America Expected to Retain Dominance
North America is expected to dominate the overall antimicrobial susceptibility testing market, throughout the forecast period. This is due to factors such as the rising incidence of antibiotic-resistant infections in the region. This is due to the abuse of antibiotics. According to antibiotic Resistance Threats in the United States 2019 report, about 2.8 million antibiotic-resistant infections occur in the U.S. each year, and more than 35,000 people die as a result. Furthermore, addition, 223,900 cases of Clostridioides difficile occurred in 2017 and at least 12,800 people died.
Furthermore, well-established awareness programs for precision medicine and the use of antimicrobial testing in it drives, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth.
Competitive Landscape
The antimicrobial susceptibility testing market is moderately competitive and consists of several major players. The market players are focusing on the advancing the technologies, new product launches to expand their market share. For instance, SeLux Diagnostics is developing an antimicrobial susceptibility (AST) platform that it anticipates will meet clinicians’ requirements allowing them to quickly prescribe the correct antibiotics to patients. In April 2020, company has received USD 9.1 million for seeding development of rapid AST platform.
The key market players operating in the antimicrobial susceptibility testing market include bioMerieux, Bio-Rad Laboratories, Inc, HiMedia Laboratories, Alifax, and Becton Dickinson among others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Multi Drug Resistance Organisms
4.2.2 Rising Use of Antimicrobial Susceptibility Testing by Pharmaceutical Companies
4.2.3 Growing Awareness of Precision Medicine
4.3 Market Restraints
4.3.1 Stringent Government Regulatory Policies
4.3.2 Challenges associated with Antimicrobial Susceptibility Testing
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Manual Antimicrobial Susceptibility Testing
5.1.1.1 MIC strips
5.1.1.2 Susceptibility Plates
5.1.1.3 Others
5.1.2 Automated Antimicrobial Susceptibility Testing Products
5.1.3 Consumables
5.2 By Type
5.2.1 Antibacterial Testing
5.2.2 Antifungal Testing
5.2.3 Antiparasitic Testing
5.2.4 Others
5.3 By Application
5.3.1 Diagnostics
5.3.2 Drug Discovery and Development
5.3.3 Epidemiology
5.3.4 Others
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Middle East and Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 bioMerieux
6.1.2 Bio-Rad Laboratories, Inc.
6.1.3 HiMedia Laboratories
6.1.4 Alifax
6.1.5 Becton, Dickinson and Company
6.1.6 Creative Diagnostics
6.1.7 Resistell AG
6.1.8 Danaher Corporation
6.1.9 Thermo Fisher Scientific Inc.
6.1.10 Merck KGaA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/b7qjia
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