Global Antimicrobial Susceptibility Testing Market Report 2023: Sector is Expected to Reach $5.08 Billion by 2030 at a CAGR of 5.1% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Antimicrobial Susceptibility Testing Market Size, Share & Trends Analysis Report By Product, By Technique, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global antimicrobial susceptibility testing market size is expected to reach USD 5.08 billion by 2030, expanding at 5.1% CAGR from 2023 to 2030.

Companies Mentioned

• Bio-Rad Laboratories Inc.
• Thermo Fisher Scientific Inc.
• Danaher Corporation
• BD
• BIOMERIEUX
• Creative Diagnostics
• Hi-Media Laboratories Pvt. Ltd.
• PerkinElmer, Inc.
• ELITechGroup
• F. Hoffmann-La Roche Ltd

The growth is primarily attributed to the growing opportunities owing to advancement in technology, increasing R&D activities by leading participants, and increasing penetration of antimicrobial susceptibility testing (AST) in diagnosis and identification of effective treatment options.

In addition, the increasing adoption of antimicrobial susceptibility testing in various applications such as drug discovery & development, susceptibility testing in clinical laboratories, and personalized medicine are the leading factors propelling growth.

The increasing prevalence of infectious diseases such as pneumonia and bloodstream infections due to a lack of proper sanitization and an unhygienic diet is further boosting the growth over the forecast period.

Moreover, favorable initiatives undertaken by government bodies to combat AMR is anticipated to boost the demand for antimicrobial susceptibility testing over the forecast period. For instance, in October 2020. The U.S. government updated its National Action Plan for Combating Antibiotic-Resistant Bacteria (CARB) 2020-2025 to improve health services by prioritizing infection prevention and optimizing the use of antibiotics in the treatment of these diseases.

Moreover, the rising focus of key players on various strategic initiatives such as mergers & acquisitions and the launching of new products is further expected to drive the market growth over the forecast period. For instance, in May 2022, Qualigen Therapeutics entered into an agreement to acquire a majority stake in NanoSynex. NanoSynex has developed an AST platform to help faster identification of antibiotics for patient infections. Such initiatives are expected to increase growth in the coming years.

Overall. The COVID-19 pandemic impacted the AST industry adversely due to disruption in the supply chain and restrictions imposed by government bodies across the globe. However, COVID-19 opened new opportunities for the market, as many studies stated that antimicrobial susceptibility testing helps find optimal antibiotics in a shorter span for treating COVID-19 disease. According to the National Library of Medicine, a direct rapid antibiotic susceptibility test (dRAST) helps enable earlier & optimal antibiotic treatments for bacteremia in COVID-19 patients.

However, factors such as the high cost of technologically advanced products & automated instruments. The time gap determining clinical breakpoints, approving novel antimicrobial drugs, and the complex approval process of these products may hamper the market growth over the forecast period.

Antimicrobial Susceptibility Testing Market Report Highlights

• The global antimicrobial susceptibility testing industry was valued at USD 3.4 billion in 2022 and is projected to grow at a CAGR of 5.1% over the forecast period
• Manual testing segment held the largest share of 53.27% in 2022. The market growth is attributed to the ease of availability and lower cost as compared to automated testing. However, automated testing is projected to register the fastest CAGR-driven growth over the forecast period
• Based on technique. The disk diffusion segment dominated the market in 2022. The growth can be attributed to various advantages such as flexibility and cost-effectiveness. However, automated AST is projected to grow at the fastest CAGR during the forecast period
• Hospital segment dominated the AST industry in 2022 due to increasing AMR & HAIs cases and the growing adoption of AST for personalized medicine
• Biotechnology & pharmaceutical companies are projected to showcase the fastest growth rate over the forecast period due to a rising focus on drug discovery
• North America dominated the global market in 2022. The major factors that attribute the industry growth are the easy availability of technologically advanced products and the rising adoption of personalized medicine

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Antimicrobial Susceptibility Testing Market Variables, Trends, & Scope

3.1 Market Lineage Outlook

3.1.1 Parent market

3.2 Market Dynamics

3.2.1 Market drivers analysis

3.2.2 Market restraint analysis

3.3 Penetration & Growth Prospect Mapping

3.4 Antimicrobial Susceptibility Testing: Market Analysis Tools

3.4.1 Industry analysis - Porter's

3.4.2 PESTLE analysis

3.5 Regulatory Framework

Chapter 4 Antimicrobial Susceptibility Testing Market Segment Analysis, By Product, 2018 - 2030 (USD Million)

Chapter 5 Antimicrobial Susceptibility Testing Market Segment Analysis, By Technique 2018 - 2030 (USD Million)

Chapter 6 Antimicrobial Susceptibility Testing Market Segment Analysis, By Application, 2018 - 2030 (USD Million)

Chapter 7 Antimicrobial Susceptibility Testing Market Segment Analysis, By End-use, 2018 - 2030 (USD Million)

Chapter 8 Antimicrobial Susceptibility Testing Market Segment Analysis, By Region, 2018 - 2030 (USD Million)

Chapter 9 Antimicrobial Susceptibility Testing Market - Competitive Analysis

9.1 Recent Developments & Impact Analysis, by Key Market Participants

9.2 Company Categorization

9.3 Vendor Landscape

9.4 Public Companies

9.5 Private Companies

9.6 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/5zzkvg

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