Published: Jan, 2019
Transparency Market Research (TMR) witnesses the global antimicrobial susceptibility test market has a highly competitive vendor landscape. Some of the companies dominating the global antimicrobial susceptibility test market are Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Dickinson and Company, and Creative Diagnostics. These players are trying to expand product offerings and business expansion for widening customer base.
According to TMR, the global antimicrobial susceptibility test market pegged the value of US$ 2,578.4 mn in the year 2016 and is expected to attain a value of US$ 3,814.0 mn by the end of the year 2025. The market is anticipated to swell with a CAGR of 4.6% over the forecast period from 2017 to 2025.
Based on the test type, the antibacterial segment dominated the global antimicrobial susceptibility test market owing to the increasing number of bacterial infections. On the basis of region, North America dominated the global pet wearable market followed by Europe in the year 2016. Both the regions collectively accounted for the share of 66.3% in the pet wearable market. However, Asia Pacific is expected to expand with a CAGR of 5.4% during the forecast period from 2017 to 2025.
Growing Awareness about Health to Propel Growth
Antimicrobial susceptibility tests have wide applications for determining specific antibiotic for the treatment of bacterial or fungal infection. A growing number of patients, suffering from bacterial or fungal infection is leading to boost adoption of antimicrobial susceptibility tests, which in turn is propelling the growth of the global antimicrobial susceptibility test market. Additionally, the Centers for Disease Control and Prevention (CDC) expects that antibacterial resistance caused to increase the number of infected people to 2 million and near about 23,000 deaths in the US. Effective treatments and diagnostic tests are required for detecting these infections. Thus, the demand for the newer broadband for the antibacterial drug is rising. This is a key factor in boosting the growth of the antimicrobial susceptibility test market.
Growing awareness about health and infection control in healthcare systems coupled with growing disposable income and growing expenditure on health is boosting the adoption of antimicrobial susceptibility tests. This factor is another important factor in boosting the growth of the global antimicrobial susceptibility test market.
Growing Infection and Bacterial Diseases to Propel Growth
Despite these growth opportunities, the factors such as inappropriate diagnosis, patent expirations, low patient compliance, stringent regulatory procedures, and lack of firm return on investment are likely to hamper the growth of the global antimicrobial susceptibility test market.
Nonetheless, widening application of tests to detect which bacteria are affected is witnessing higher adoption for clinical purposes. Additionally, growing diseases such as E. coli, Salmonella, and Enterococcus are expected to offer lucrative opportunities for growth of the global antimicrobial susceptibility test market.
This information is encompassed in the new report by TMR, titled “Antimicrobial Susceptibility Test Market (Product Type - Tests and Kits, Culture Media, Automated Test Systems, Consumables; Method - Broth Dilution Method, Rapid Automated Method, Disk Diffusion Method, Gradient Diffusion Method, Molecular Testing Method; Test Type - Antibacterial, Antifungal, Antiparasitics; Application - Clinical Diagnosis, Drug Discovery and Development; End use - Diagnostic Laboratories and Hospitals, Pharmaceutical and Biotechnology Companies, Research and Academic Institutes, and Contract Research Organizations) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
For the study, the pet wearable market has been segmented as follows:
- Tests and Kits
- Culture Media
- Automated Test Systems
- Broth Dilution Method
- Rapid Automated Method
- Disk Diffusion Method
- Gradient Diffusion Method
- Molecular Testing Method
By Test Type:
- Clinical Diagnosis
- Drug Discovery and Development
By End use:
- Diagnostic Laboratories and Hospitals
- Pharmaceutical and Biotechnology Companies
- Research and Academic Institutes
- Contract Research Organizations
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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