Antimicrobial Susceptibility Testing Market Projections: Expected to Reach $5.99 Billion by 2028

Redding California, February 13, 2024 - Meticulous Research®, a premier global market research organization, has unveiled its latest research report titled 'Antimicrobial Susceptibility Testing Market.' The forecast suggests a remarkable growth trajectory, with the market anticipated to achieve $5.99 billion by 2028, exhibiting a robust Compound Annual Growth Rate (CAGR) of approximately 6.4% during the forecast period.

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Key contributors to this anticipated growth include the escalating prevalence of infectious diseases, the evolution of automated Antimicrobial Susceptibility Testing (AST) products, increased government initiatives and funding toward AST programs, technological advancements in AST methods, and the emergence of multidrug resistance in microorganisms. Despite these positive indicators, stringent government regulations are expected to pose certain challenges to market expansion. Nevertheless, emerging markets and active Research and Development (R&D) efforts towards rapid AST development are projected to offer significant growth opportunities for industry players.

The market study provides a historical perspective with data for 2019 and 2020, estimated current data for 2021, and forecasts spanning 2028. It covers diverse segments including Product (Manual AST Products, Consumables, and Automated AST Products), Method (Disk Diffusion, Automated AST, Dilution, and Other Methods), Application (Clinical Diagnostics, Drug Discovery and Development, and Other Applications), and End User (Diagnostic Laboratories & Hospitals, Pharmaceutical and Biotechnology Companies, Research and Academic Institutes). The study further evaluates industry competitors and conducts a thorough analysis at both regional and country levels.

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Segmentation Insights
By product, the market is segmented into manual AST products, automated AST products, and consumables. In 2021, the manual AST products segment is poised to dominate, driven by its cost-effectiveness and user-friendly handling procedures. The availability of a diverse range of consumables for manual testing, coupled with easy interpretation of tests, further propels the segment's growth.
The disk diffusion method is anticipated to hold the largest market share in 2021 based on method, attributed to its low cost and technological advancements, which have enhanced the efficiency of the disk diffusion method.

The clinical diagnostics segment is expected to command the largest market share in 2021 by application, fueled by the increasing burden of antimicrobial resistance and growing awareness regarding the use of antimicrobial susceptibility testing methods.

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Geographical Analysis
The research report provides an in-depth analysis of major geographies, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, North America is projected to lead, driven by the adoption of technologically advanced susceptibility testing methods and ongoing research for new drugs using ASTs, coupled with heightened awareness about treatment options.

Key Players Shaping the Market
Key players in the Antimicrobial Susceptibility Testing market include Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Becton, Dickinson and Company (U.S.), Danaher Corporation (U.S.), HiMedia Laboratories Pvt. Ltd. (India), MERLIN Diagnostika GmbH (Germany), Accelerate Diagnostics, Inc. (U.S.), Alifax S.r.l. (Italy), Creative Diagnostics (U.S.), Synbiosis (U.K.), and Zhuhai DL Biotech Co., Ltd (China), among others.

Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

This release was published on openPR.