LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Biotechnology?src=hash" target="_blank"gt;#Biotechnologylt;/agt;–Technavio’s latest market research report on the global antimicrobial
susceptibility testing market (AST) forecasts the market to witness a
CAGR of over 5% during the forecast period. This research report
segments the market by application (clinical diagnostics, drug discovery
and development, and others) and geography (North America, Europe, Asia,
and ROW).
Increasing collaborations between government and private stakeholders
to gain prominence
The global antimicrobial susceptibility testing market has been
witnessing increased involvement of the private sector along with
various governments. Government bodies are increasingly facilitating
efficient product development by working with both domestic and
international partners. Regulatory agencies and federal organizations
including FDA and CDC are continuing to work collaboratively with
Congress and other stakeholders for finding additional ways for
preventing, detecting, and addressing antibiotic resistance (AR).
Furthermore, companies are collaborating to launch pilot programs to aid
clinicians in determining a new-to-market drug for treating a highly
drug-resistant infection effectively. As a result, with continuous
collaborations and networking among the market participants, the global
antimicrobial susceptibility testing market is anticipated to
witness significant growth over the next few years.
Clinical diagnostics application segment to account for the highest
share
The clinical diagnostics segment comprises of hospitals and diagnostic
centers focusing on antimicrobial susceptibility testing to diagnose
patients before the administration of drugs. AST plays a crucial role in
ensuring the quality of patient safety and care. Furthermore, AST offers
information on pathogens, their mode of transmission, and their
mechanism of causing infection and growth. Therefore, with the rising
use of AST, various stakeholders in the healthcare industry are able to
offer the most appropriate treatment for the patient. Hence, the rising
demand for AST solutions will boost the market in the forthcoming years.
“There has been a constant increase in the use of in-vitro diagnostic
(IVD) tests including AST. IVD tests often play a key role in minimizing
healthcare costs as they help in determining the right treatment plan
for patients. Therefore, the rising demand for accurate and early
disease diagnosis coupled with growing awareness of personalized
medicine will eventually boost the adoption of antimicrobial
susceptibility testing during the forecast period,” says a senior
research analyst at Technavio.
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Antimicrobial susceptibility testing market to witness fastest
adoption in Asia.
Asia will account for the fastest antimicrobial susceptibility testing
market growth during the forecast period owing to the major revenue
contributions from economies including China and Japan. The region has
witnessed an increased incidence rate of antibiotic resistance in recent
years. Antibiotic resistance often occurs due to several reasons
including over-prescribing of antibiotics, poor infection control in
hospitals and clinics, and poor hygiene and sanitation practices. In
addition, the growing number of chronic diseases in several countries
including China, is compelling healthcare specialists to opt for AST
products for drug development and discovery. The considerable presence
of several vendors in the region offering a wide range of AST products
will boost market growth in the forthcoming years.
Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.
Some of the key topics covered in the global
antimicrobial susceptibility testing market analysis include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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