Press release
bioMérieux SA (France) and Thermo Fisher Scientific (US) are Leading Players in the Antimicrobial Susceptibility Testing Market
Antimicrobial Susceptibility Testing Market in terms of revenue was estimated to be worth $3.6 billion in 2022 and is poised to reach $4.7 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027 according to a new report by MarketsandMarkets™. The rising prevalence of infectious diseases, high antibiotic resistance, and supportive government measures to lessen the burden of infectious diseases can all be linked to the expansion of the antimicrobial susceptibility testing (AST) industry. The use of antimicrobial susceptibility testing is growing due to an increase in specific illnesses such pneumonia and bloodstream infections caused by E. coli, K. pneumoniae, P. aeruginosa, and others.Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=206359984&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral
Automated Laboratory Instruments segment to register a significant growth rate over the forecast period of 2022-2027
Based on the product type, the antimicrobial susceptibility testing market is segmented into Manual antimicrobial susceptibility testing products, Automated Laboratory Instruments, Culture and Growth Media, and Consumables. with each segment covering various products used in susceptibility testing. Automated Laboratory Instruments hold the largest share of the antimicrobial susceptibility testing market in 2022. The large share of this segment can be attributed to Getting fast results than the traditional procedures used in susceptibility testing
The hospitals and Diagnostic centers segment accounted for the largest share of the Antimicrobial Susceptibility Testing market, by the end-user market in 2022.
Based on End users, the antimicrobial susceptibility testing market is segmented into Hospitals and Diagnostic centers, Pharmaceutical and Biotechnology companies, Research & Academic Institutes, and Clinical research organizations.
North America to register major growth in the market during the forecast period
North America microcatheter market is anticipated to register the highest growth over the forecast period of 2022 to 2027. North America accounted for the largest share of 35.4% of the antimicrobial susceptibility testing market in 2022. This market is projected to reach USD 1.6 billion by 2027 from USD 1.2 billion in 2022, at a CAGR of 5.3% during the forecast period. The large share of North America can be attributed due to the growth in antibiotic resistance prevalence, the existence of important actors, an increase in healthcare spending, technological developments, and an increase in government activities in the area. Nonetheless, due to a rise in the region's population generally and rising investments in the healthcare industry, Asia-Pacific is expected to experience significant development.
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Antimicrobial Susceptibility Testing Market Dynamics:
Drivers:
Rising incidence of infectious diseases coupled with epidemic and pandemic events
Increasing funding, research grants, and public-private investments
Technological advancements
Growing government initiatives to detect and control antimicrobial-resistant species
Emergence of multidrug resistance due to drug abuse
Restraints:
High cost of automated ID/AST systems
Opportunities:
Growth opportunities in emerging markets
Challenges:
Complex regulatory frameworks
Key Market Players:
As of 2022, prominent players are Becton, Dickinson and Company, Biomerieux SA, Bio-Rad Laboratories, Inc., Bruker, Danaher Corporation.
Recent Developments
In Jan,2023 bioMerieux launched a automated instrument named MAESTRIA
In Aug,2022 BD India launched the BD MAX MDR-TB panel.
In May ,2022 Thermofisher scientific introduced automated antimicrobial susceptibility products.
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Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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