Rising Cases of Microbial Diseases Add to Already High Demand for Antimicrobial Susceptibility Tests: Fact.MR Study
170 Pages Market Research Survey by Fact.MR, A Market Research and Competitive Intelligence Provider, Highlights Key Factors Enabling Antimicrobial Susceptibility Test Market Growth
The antimicrobial susceptibility test market survey offers insights into chief growth drivers and restrains impacting the overall growth trajectory. The report also divulges compelling insights into antimicrobial susceptibility test demand outlook in terms of product, end user, method, test type, and application. It studies key strategies adopted by vendors to increase sales in antimicrobial susceptibility test market.
Fact.MR – A Market Research and Competitive Intelligence Provider: The antimicrobial susceptibility test market will register more than 6.5% year on year growth in 2021, according to market analysis by Fact.MR. Rapid advancement in medical infrastructure and rising per capita income of people in middle income countries are the key growth drivers.
Rise in collaboration between public and private antimicrobial susceptibility testing companies has been observed in healthcare sector. The key aim of these alliances is to obtain required funding for developing new products.
However, the costs of these testing systems are comparatively high owing to high development cost and very complex nature of testing. The situation is expected to improve with increasing government investment in these ventures to tackle the rising cases of bacteria, fungi, and parasites infections over the forecast period.
Increasing instances of severe drug abuse in animal breeding programs and steps undertaken to protect animals from infections have been reported in past few years. Excessive use of drugs can lead to the development of high drug resistance in the animals, causing drugs wastage and consequently economic loss to farmers.
Delay in diagnosis of resistant strains of microbes might even lead to catastrophic events like epidemic and global pandemics. These concerns will drive the demand of rapid response antimicrobial susceptibility testing kits during the forecast period.
Increasing demand for personalized consumable medicines especially in emerging economies due to their low cost will drive the sales of antimicrobial susceptibility test products.
“Growing awareness regarding infectious diseases and high demand for rapid susceptibility testing kits for faster detection of infection is expected to accelerate the sales of antimicrobial susceptibility testing kits in upcoming years", said a Fact.MR analyst.
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Key Takeaways from Antimicrobial susceptibility test Market Research Report:
- The U.S. will lead the antimicrobial susceptibility test market owing to presence of leading market players in the country and increasing government investment towards healthcare and drugs development.
- High demand for antimicrobial susceptibility tests in diagnostic laboratories and hospitals in 2021 can be expected as they have easy access to modern facilities and skilled personnel. Rise in number of hospital acquired infection cases will further boost the demand.
- Incorporation of antimicrobial susceptibility testing methods in diagnostics, surge in antimicrobial resistance cases, and growing emphasis on early disease screening will drive the demand for these testing methods in clinical diagnostics.
- Online sales channels are predicted to generate highest revenue due to aggressive marketing to disseminate brand information and its wide reach.
- Rising incidence of microbial diseases and frequent outbreaks of epidemics will drive demand for antimicrobial susceptibility tests in diagnostic laboratories and hospitals in 2021.
- Rapid development in the field of drug susceptibility analysis in case of resistant infections will boost the sales of antimicrobial susceptibility testing products.
- Increasing awareness and government funding towards developing effective drugs against resistant microbes will positively influence the market growth.
- Stringent regulatory process for product approval prolongs the time to market which could hinder the marketability and sales of antimicrobial susceptibility test products.
- Limited adoption of automated test systems owing to its high cost will hamper the growth of antimicrobial susceptibility test kits market.
- High cost of research and development will lower rates of return due to limited consumption of drugs will hinder growth of the antimicrobial susceptibility test market.
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Modern testing methods are being introduced in developing economies owing to increasing consumer spending on healthcare facilities. Leading antimicrobial susceptibility test market players are looking towards exploring these new markets by setting up new operational facilities in these countries.
Low competition and lack of strict regulations for product development in these regions will allow them to close profitable deals while simultaneously lowering overhead cost. Some players are emphasizing on boosting their production of vaccines and biologics based drugs to achieve higher recovery rate.
In June 2021, bioMerieux SA signed an exclusive co-distribution agreement with Specific Diagnostics for distribution of REVEAL Rapid® AST systems in Europe. the REVEAL Rapid AST system provides rapid results for bloodstream infection and lifesaving increment to a more effective drugs in the case of multidrug-resistant (MDR) infection.
On 30th June 2021, Bio-Rad Laboratories, Inc. partnered with Seegene, Inc. for the clinical development and commercialization of infectious disease molecular diagnostic products.
Key players operating in the antimicrobial susceptibility test market are
- Dickinson and Company
- bioMérieux SA
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific
- Danaher Corporation
- Roche Diagnostics Limited
More Insights on the Antimicrobial susceptibility test Market:
Fact MR provides an unbiased analysis of the antimicrobial susceptibility test market, presenting historical demand data (2020-2025) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global antimicrobial susceptibility test market with a detailed segmentation on the basis of:
- Kits, Reagents, & Consumables
- Automated Test Systems
- Culture Media
- Broth Dilution Method
- Rapid Automated Method
- Disk Diffusion Method
- Gradient Diffusion Method
- Molecular Testing Method
- Clinical Diagnosis
- Drug Discovery and Development
- Diagnostic Laboratories and Hospitals
- Research and Academic Institutes
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Key Questions Covered In the Antimicrobial susceptibility test Market Report
- The report offers insight into antimicrobial susceptibility test demand outlook for 2021-2031
- The market study also highlights projected sales growth for antimicrobial susceptibility test market between 2021 and 2031
- Antimicrobial susceptibility test market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Antimicrobial susceptibility test market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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