Antimicrobial Susceptibility Testing Market Outlook 2019 – 2023: Government Initiatives to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)-- The global antimicrobial susceptibility testing market size is poised to reach USD 832.14 million by 2023, according to a new report by Technavio, progressing at a CAGR of 5% during the forecast period.
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Technavio has published a new market research report on the global antimicrobial susceptibility testing market from 2019-2023. (Graphic: Business Wire)
Read the 124-page research report with TOC on "Antimicrobial Susceptibility Testing Market Analysis Report by application (clinical diagnostics, drug discovery and development, and others) and geography (Asia, Europe, North America, and ROW) 2019 - 2023". Request Free Sample Pages
The market is driven by increasing government initiatives. Also, the increasing prevalence of infectious diseases is anticipated to further boost the growth of the market during the forecast period.
Governments across the world are undertaking initiatives to increase awareness for antimicrobial susceptibility testing in a bid to control infections caused by different pathogens. These initiatives also help sensitize regulatory agencies, decision-makers, and other end-users regarding the need for prevention of such indications. For instance, the UK government recently introduced a five-year national action plan aimed at reducing drug-resistant infections and human antibiotic use. Such initiatives create awareness among consumers about the use of antimicrobial susceptibility testing products, which will drive the growth of the global market during the forecast period.
Furthermore, there is a global increase in infectious diseases caused by pathogens, such as viruses, bacteria, and parasites. Moreover, the impact of such diseases also varies from region to region. Therefore, the aim of the researchers and scientists is to have a particular AST procedure for the detection of various pathogenic organisms. As infectious diseases pose a global threat to healthcare, the demand for its diagnostics with the help of AST is likely to increase at a steady rate, which will drive market growth.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- bioMérieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- Merck KGaA
- Thermo Fisher Scientific Inc.
Market Segmentation by Category and Product Types:
The Antimicrobial Susceptibility Testing Market can be broadly categorized into the following applications:
- Clinical Diagnostics
- Drug discovery and development
Key Regions for the Antimicrobial Susceptibility Testing Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Source: Technavio Research