PUBLISHER: The Business Research Company | PRODUCT CODE: 1390986
PUBLISHER: The Business Research Company | PRODUCT CODE: 1390986
“Antimicrobial Susceptibility Testing Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on antimicrobial susceptibility testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for antimicrobial susceptibility testing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The antimicrobial susceptibility testing market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Antimicrobial susceptibility testing (AST) is a laboratory procedure conducted by clinical professionals to determine the most effective antimicrobial specimen for individual patients. The market for antimicrobial susceptibility testing involves the sales of such testing services provided by entities, including organizations, sole traders, and partnerships, engaged in laboratory services.
The primary types of AST procedures include antibacterial testing, antifungal testing, antiparasitic testing, and others. Antifungal susceptibility testing assesses the ability of a specific organism to grow in vitro in the presence of a particular drug. AST products utilized in testing encompass manual antimicrobial susceptibility testing products, automated laboratory instruments, and other consumables. These products find applications in diagnostics, drug discovery and development, and epidemiology. Antimicrobial susceptibility testing is employed by hospitals, diagnostic centers, pharmaceutical and biotechnology companies, research and academic institutes, as well as clinical research organizations (CROs).
The antimicrobial susceptibility testing market research report is one of a series of new reports from The Business Research Company that provides antimicrobial susceptibility testing market statistics, including antimicrobial susceptibility testing industry global market size, regional shares, competitors with an antimicrobial susceptibility testing market share, detailed antimicrobial susceptibility testing market segments, market trends and opportunities, and any further data you may need to thrive in the antimicrobial susceptibility testing industry. This antimicrobial susceptibility testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The antimicrobial susceptibility testing market size has grown strongly in recent years. It will grow from $4.03 billion in 2023 to $4.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The increase in the historic period can be attributed to factors such as the rise in healthcare expenditure, a growing aging population, increased awareness and education, regulatory support, and economic growth.
The antimicrobial susceptibility testing market size is expected to see strong growth in the next few years. It will grow to $5.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to the increasing prevalence of drug-resistant infections, a rise in healthcare infrastructure, a growing emphasis on drug discovery, and an increase in disposable income. Key trends expected in this period involve the adoption of automation and robotics, the integration of AI and machine learning, multiplexing techniques, the incorporation of telemedicine, and the development of rapid antimicrobial susceptibility testing (AST) methods.
The expansion of the antimicrobial susceptibility testing market is significantly influenced by the increasing incidence of infectious diseases worldwide. Infectious diseases, stemming from various microorganisms like bacteria, viruses, fungi, and parasites, have become more prevalent. Bacterial pneumonia, tuberculosis, and viral infections like smallpox and HIV/AIDS have seen high rates of infection and mortality. According to the World Health Organization (WHO) statistics from 2021, millions of individuals were affected by tuberculosis and HIV, leading to a substantial number of deaths. This surge in infectious cases has driven the necessity for susceptibility testing of these organisms to develop more effective drugs, consequently propelling the antimicrobial susceptibility testing market.
The mounting prevalence of chronic diseases is expected to be a significant factor fueling the growth of the antimicrobial susceptibility testing market. Chronic illnesses, which are enduring and often incurable conditions necessitating ongoing medical management, render individuals more vulnerable to various infections. Antimicrobial susceptibility testing plays a crucial role in identifying the specific pathogens responsible for these infections and determining the most effective antibiotics against them. For example, a report by the Centers for Disease Control and Prevention (CDC) in July 2022 highlighted that a considerable proportion of the American population grapples with chronic diseases, thereby increasing susceptibility to infections such as chronic lung diseases, heart disease, stroke, and diabetes. This rise in chronic conditions is a driving force behind the market's growth.
A notable trend emerging in the antimicrobial susceptibility testing market is the adoption of rapid testing methods aimed at preventing antibiotic misuse and ensuring more effective treatments. Various techniques, such as Fluorescence in situ hybridization (FISH) and QuickFish technology (OpGen), utilize probes targeting RNA to rapidly identify and test microbial susceptibility. For instance, the antimicrobial susceptibility testing system developed by Genefluidics Inc uses an electrochemical biosensor to measure bacterial growth by quantifying 16s rRNA molecules, ensuring swift and accurate testing. This emphasis on rapid testing methods stands as a key trend in the evolution of the antimicrobial susceptibility testing market, catering to the pressing need for timely and accurate analysis to guide effective treatment strategies.
Major companies in the antimicrobial susceptibility testing market are advancing through the development of innovative products like the First Point-of-Care (POC) Testing System. This groundbreaking system is designed to identify the presence or absence of bacteria and evaluate the efficacy of antimicrobials by utilizing urine samples from patients suspected of having urinary tract infections (UTIs). The introduction of this system marks a significant stride in the realm of antimicrobial susceptibility testing (AST) technologies. Its primary advantage lies in expediting the commencement of targeted antimicrobial therapy for patients diagnosed with infections. For example, in June 2023, Sysmex Corporation, a Japan-based company specializing in manufacturing reagents and equipment for clinical tests, introduced a rapid antimicrobial susceptibility testing system. This innovative system employs a unique and proprietary microfluidic technology, delivering AST results in as little as 30 minutes from the initiation of the measurement process. This is a substantial reduction compared to the several days typically required for conventional AST methods. The system's swift and accurate results revolutionize the efficiency and timeliness of treatment initiation, catering to the urgent needs of patients requiring targeted antimicrobial therapy.
Major companies operating in the antimicrobial susceptibility testing market include BioMerieux SA, Becton Dickinson and Company, Thermo Fisher Scientific Inc., Danaher Corporation, Bio-Rad Laboratories Inc., Accelerate Diagnostics Inc., Hi-Media Laboratories, Creative Diagnostics, Merck KGaA, Roche Diagnostics Limited, Alifax Holding S.p.A., Synbiosis Ltd., Zhuhai DL Biotech Co. Ltd., Mast Group Ltd., ELITechGroup, Genefluidics Inc., Condalab, QuantaMatrix Inc., Bruker Corporation, Eurofins Scientific SE, Liofilchem s.r.l., Hardy Diagnostics, Micromax Technologies, Bioanalyse GmbH, Lab M Limited, Microbiologics Inc., Quidel Corporation, R-Biopharm AG, SSI Diagnostica A/S, VWR International LLC, ZeptoMetrix Corporation
North America was the largest region in the antimicrobial susceptibility testing market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the antimicrobial susceptibility testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the antimicrobial susceptibility testing market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The antimicrobial susceptibility testing (AST) market includes revenues earned by dilution susceptibility tests and disc diffusion susceptibility tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.