Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- 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 anticipated global size of the antimicrobial susceptibility testing market is projected to reach USD 5.08 billion by 2030, showing a steady 5.1% CAGR from 2023 to 2030. This growth trajectory is primarily ascribed to burgeoning prospects driven by technological advancements, heightened research and development endeavors by major players, and increased adoption of antimicrobial susceptibility testing (AST) for diagnosing and identifying effective treatment avenues. Furthermore, the adoption of AST in diverse applications such as drug discovery & development, susceptibility testing in clinical labs, and personalized medicine is at the forefront of driving this expansion.
The mounting prevalence of infectious diseases like pneumonia and bloodstream infections, often exacerbated by inadequate sanitation and unhygienic dietary habits, is further fueling growth across the forecast period. Additionally, government initiatives aimed at combating antimicrobial resistance (AMR) are anticipated to boost demand for antimicrobial susceptibility testing. An illustrative example is the U.S. government's update of the National Action Plan for Combating Antibiotic-Resistant Bacteria (CARB) 2020-2025 in October 2020, focusing on infection prevention and optimized antibiotic use in disease treatment.
The strategic focus of key players on activities like mergers & acquisitions and product launches is poised to underpin market growth. For instance, Qualigen Therapeutics' acquisition of a majority stake in NanoSynex in May 2022 is expected to drive growth by speeding up antibiotic identification for patient infections through NanoSynex's AST platform.
Although the COVID-19 pandemic initially had an adverse impact on the AST sector due to supply chain disruptions and government restrictions, it also created fresh avenues. Studies indicated that antimicrobial susceptibility testing aids in rapidly identifying optimal antibiotics for treating COVID-19, thus bolstering the market. The National Library of Medicine highlighted how direct rapid antibiotic susceptibility testing (dRAST) facilitated early and optimal antibiotic treatments for bacteremia in COVID-19 patients.
However, challenges such as the high cost of technologically advanced products and automated instruments, time gaps in determining clinical breakpoints, approval processes for novel antimicrobial drugs, and the complexity of product approval procedures may impede market growth across the forecast period.
Report Highlights
- The global value of the antimicrobial susceptibility testing industry stood at £3.4 billion in 2022 and is anticipated to register a 5.1% CAGR throughout the forecast period.
- In 2022, the manual testing segment accounted for the largest share, comprising 53.27%. This growth is attributed to the segment's cost-effectiveness and availability when compared to automated testing. Nevertheless, automated testing is poised to exhibit the fastest CAGR-driven growth during the forecast period.
- In terms of technique, the disk diffusion segment reigned supreme in 2022, driven by its flexibility and cost-effectiveness. However, automated AST is expected to witness the fastest CAGR growth during the forecast period.
- The hospital segment held sway in the AST sector in 2022, driven by the increasing cases of AMR and healthcare-associated infections (HAIs), as well as the growing adoption of AST for personalized medicine.
- Biotechnology and pharmaceutical companies are projected to exhibit the swiftest growth rate throughout the forecast period due to heightened focus on drug discovery.
- North America asserted its dominance on the global stage in 2022, supported by easy access to technologically advanced products and a rising embrace of personalized medicine.
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.42 Billion |
| Forecasted Market Value (USD) by 2030 | $5.08 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/v27h20
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