May 18, 2020
As per the report titled ‘Global Antimicrobial Susceptibility Test Market Size study, by Product (Manual Antimicrobial Susceptibility Testing, Automated Laboratory Instruments, Culture and Growth Media, Consumables), by Type (Antibacterial Testing, Antifungal Testing, Antiparasitic Testing, Others), by Application (Clinical Diagnostics, Drug Discovery and Development, Epidemiology, Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global antimicrobial susceptibility test market share was worth USD 3 billion in 2019 and is projected to expand with a CAGR of 5.2% during 2020-2026.
Antibacterial susceptibility testing is laboratory procedure used to determine the susceptibility of a particular bacteria to the antibiotics. These tests guide physicians in drug preference and dosage levels for difficult-to-treat infections specific to affected individuals and caters to all ages and races.
Rising cases of antibacterial-resistant infections, increase in funding & research grants, investments by both public & private firms, numerous government initiatives and growing focus on effective infection control in medical institutes are fueling the global antimicrobial susceptibility market growth.
According to Center for Disease Control and Prevention (CDC), it is estimated that antibacterial resistant bacteria causes about 2 million infections in the U.S, resulting in 23,000 death each year. Whereas, the death toll in Europe is estimated to be over 25,000 annually. High prevalence of antibacterial resistant infections in these regions is expected to accelerate the industry growth in the forthcoming years.
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On the contrary, high cost of automated antimicrobial susceptibility testing systems and poor reimbursement framework will impede the market growth during the forecast period.
From a regional perspective, North America antimicrobial susceptibility test market is reckoned to see substantial gains over the forecast timeline. The growth is attributable to rising incidences of antibiotic-resistant infections coupled with a number of well-established programs for development of precision medicine in the region.
On the other hand, Asia Pacific antimicrobial susceptibility test market is slated to exhibit a strong growth rate over the estimated timeframe. Dense presence of manufacturers and suppliers of antimicrobial susceptibility test products in emerging nations like India and China is supporting the industry expansion in APAC.
Prominent players in global antimicrobial susceptibility test market are HiMedia Laboratories, Bio-Rad Laboratories, Inc., BioMérieux, Becton Dickinson & Company, Alifax, Creative Diagnostics, Danaher Corporation, Resistell AG, Merck KGaA, and Thermo Fisher Scientific Inc.