The antimicrobial susceptibility testing market is projected to reach USD 4.7 Billion in 2027 from 3.6 Billion in 2022 at a CAGR of 5.5% during the forecast period. The high prevalence of infectious diseases, rising government funding and initiatives for antimicrobial susceptibility testing programs, technological developments for the creation of new AST methods, and the emergence of multidrug resistance in microorganisms are the main factors driving the antimicrobial susceptibility testing market. However, strict government controls are anticipated to limit this market's expansion to some degree. Players in the antimicrobial susceptibility testing market may anticipate having tremendous growth potential as a result of emerging markets and ongoing RD to provide quick antimicrobial susceptibility testing.
The Antimicrobial susceptibility testing market is moderately competitive, with both established companies and upcoming competitors for the same market share. As of 2021, the key players operating in the Antimicrobial susceptibility testing market are bioMérieux SA (France), Becton, Dickinson and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US), Bruker (US), Roche Diagnostics Limited (Switzerland), Accelerate Diagnostics, Inc. (US), Merck KGaA (US), HiMedia Laboratories (India), Liofilchem S.R.L Diagnostics (Italy), Alifax S.r.l. (Italy), Creative Diagnostics (US), Synbiosis (UK), Bioanalyse (Turkey), ZHUHAI DL BIOTECH Co., Ltd. (China), ELITechGroup (France), Mast Group Ltd. (UK), CONDALAB (Spain), Genefluidics, Inc. (US), Biotron Ltd. (Australia), InvivoGen (US), MP Biomedicals (US), QuantaMatrix Inc. (South Korea), and PML Microbiologicals Inc. (US), among others.
To further increase their market share in the Antimicrobial susceptibility testing market, these competitors have utilized a variety of strategies, including acquisitions, agreements, partnerships, and product releases. In 2022, a higher share of the Antimicrobial susceptibility testing market was held by bioMérieux SA (France), Becton, Dickinson and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), and Bio-Rad Laboratories, Inc. (US)
Opportunities: Growth opportunities in emerging market
Emerging countries such as APAC,India, China and Japan nbsp;present significant opportunities for players operating in the Antimicrobial susceptibiity testing market. The demand for Antimicrobial susceptibiity testing market in these countries is increasing owing to rapid growth in medical tourism, the growing adult (aged 20 and above) population, increasing drug abuse. These countries are also home to a strong and qualified workforce and have a great knowledge of advance technologies.Furthermore, these countries have lenient policies for imports/exports and are underpenetrated in most aspects, which could help companies in brand development. Increasing developing technicians and the keen to know about new technologies is helping the regions to grow and update their technologies.
Drivers: Emergence of multidrug resistance due to drug abuse
As medication resistance increases internationally, making diseases harder to cure and ultimately to mortality, antibiotics are becoming less and less effective. According to the WHO priority pathogen list, new antibiotics are urgently needed, for instance, to treat carbapenem-resistant gram-negative bacterial infections. Unfortunately, these novel medicines will experience the same destiny as the present antibiotics and become useless if people do not modify the way antibiotics are used currently.
Related Links
https://www.marketsandmarkets.com/PressReleases/antimicrobial-susceptibility-testing.asp
https://www.marketsandmarkets.com/ResearchInsight/antimicrobial-susceptibility-testing-market.asp
