by The global Antimicrobial Susceptibility Testing Market is estimated to be valued at US$ 3751.4 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antimicrobial susceptibility testing involves the identification of pathogens in clinical samples and determining the efficacy of antibiotics against the pathogens. It helps determine the most appropriate antibiotic for treatment of bacterial or fungal infections.
Market key trends:
The increasing prevalence of antibiotic-resistant microbial infections is a key trend driving the growth of the antimicrobial susceptibility testing market. According to the World Health Organization (WHO) report, infections caused by antibiotic-resistant bacteria are increasing globally and account for 700,000 deaths each year worldwide. The emergence of drug-resistant strains poses a great threat to modern medicine and sustainable development globally. Automation and new techniques for faster detection of resistant pathogens are being adopted by market players to address the growing issue of antimicrobial resistance.
SWOT Analysis
Strength: The antimicrobial susceptibility testing market has globally established standards and methods for susceptibility testing. This ensures uniform and reliable results.
Weakness: The manual antimicrobial susceptibility testing methods require skilled technicians and are labor-intensive and time-consuming processes.
Opportunity: The rising threat of antimicrobial resistance is driving research on rapid detection techniques, which is expected to provide growth opportunities.
Threats: Constraints in the development of new antimicrobial agents and limited investment in antibiotic research could challenge market growth.
Key Takeaways
Market size: Antimicrobial Susceptibility Testing Market Demand is expected to witness high growth, exhibiting a CAGR of 6.4% over the forecast period, due to the increasing prevalence of infectious diseases.
Regional analysis: North America is expected to dominate the global market during the forecast period. This is attributed to increasing funding for healthcare research in the region. Asia Pacific is anticipated to exhibit the fastest growth rate owing to rising bacterial infections in densely populated countries of the region.
Key players: Key players operating in the antimicrobial susceptibility testing market include HiMedia Laboratories, Alifax S.r.l. Italy, Creative Diagnostics, Resistell AG, Danaher, Becton, Dickinson and Company, Merck KGaA, Bio-Rad Laboratories, Inc., Bruker, Nissui Pharmaceutical Co., Ltd., F. Hoffmann-La Roche Ltd.,Synbiosis, Mast Group Ltd., ELITechGroup, Flinn Scientific, CONDALAB, Accelerate Diagnostics, Inc. and Zhuhai DL Biotech Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
