Antimicrobial Susceptibility Testing Market - Future Revenue Growth Forecasts by 2027

Posted by MV Mukund on April 1st, 2024

Overview of This Study:

This research employed a large number of primary and secondary sources. In order to determine the segmentation kinds, industry trends, major players, competitive landscape, important market dynamics, and major player strategies, the research procedure entailed analyzing a variety of industry-affecting aspects.

Market Size Estimation:

The revenue share analysis of the top competitors in the antimicrobial susceptibility testing market was used to determine the market size in this study. In order to achieve this, major market participants were identified, and their earnings from the medical aesthetics industry were calculated using a variety of insights obtained throughout the main and secondary research stages. Examining the annual and financial reports of the leading market participants was one aspect of secondary research. On the other hand, in-depth interviews with significant thought leaders, including directors, CEOs, and important marketing executives, were a part of the primary study.

To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/service providers. This process involved the following steps:

# Generating a list of major global players operating in the microcatheter market.
# Mapping annual revenues generated by major global players from the product segment (or nearest reported business unit/product category).
# Revenue mapping of major players to cover major share of the global market share, as of 2021.
# Extrapolating the global value of the automated antimicrobial susceptibility testing market.

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Major Growth Driving Factors:

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.

Revenue Growth Projections:

According to revenue estimates, the global market for antimicrobial susceptibility testing was valued at .6 billion in 2022 and is expected to increase at a compound annual growth rate (CAGR) of 5.5% to reach .7 billion by 2027.

Data Triangulation:

After arriving at the overall market size from the market size estimation process explained above, the Antimicrobial susceptibiity testing marketwas split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the antimicrobial susceptibility testing market was validated using both top-down and bottom-up approaches.

Driver: Substance abuse-related emergence of multidrug resistance

Antibiotics are getting less and less effective as drug resistance rises globally, making diseases more difficult to treat and ultimately leading to mortality. For example, new medicines are desperately needed to treat gram-negative bacterial infections that are resistant to carbapenem, as per the WHO priority pathogen list. Regretfully, if people do not change the way antibiotics are now utilized, these unique medications will suffer the same fate as the current antibiotics and become worthless.

Restraint: High Cost of automated Laboratory Instruments

Automated antimicrobial laboratory equipment has top-of-the-line features and functions, and it costs a lot of money. The incubation and detection times are shortened by the use of automated AST systems. The high cost of maintenance for these devices, which are well-equipped with cutting-edge software that requires routine upkeep, is another hurdle to this industry.

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Opportunity: Prospects for expansion in developing economies

Players in the antimicrobial susceptibiity testing market have a lot of chances in emerging nations like APAC, China, India, and Japan. The market for antimicrobial susceptibility testing is expanding in these nations due to the quick rise in medical tourism, the population expansion of adults (those over 20), and the rise in drug usage. These nations are also home to a workforce that is highly skilled and knowledgeable about cutting-edge technologies.These nations are also underdeveloped in most areas and have lax import/export regulations, which may aid businesses in building their brands. The regions are benefiting from a growing number of technicians who are eager to learn about new technologies and who are upgrading their skills.

Key Players:

As of 2021, prominent players in the market are include bioMérieux SA (France), Becton, Dickinson, and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US) among others.

Different Growth Strategies Adopted by Them:

Most companies in the market focus on organic and inorganic growth strategies, such as service launches, expansions, acquisitions, partnerships, agreements, and collaborations, to increase their service offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

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MV Mukund

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MV Mukund
Joined: March 18th, 2020
Articles Posted: 110

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