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Global Antimicrobial Susceptibility Test Market Is Expected to Reach USD 7.57 billion by 2027 : Fior Markets

Fior Market Research LLP

Antimicrobial Susceptibility Test Market byProduct (Consumables, Automated Laboratory Instruments, Manual Antimicrobial Susceptibility Testing Products), Application (Drug Discovery and Development, Clinical Diagnostics), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

Newark, NJ, Sept. 09, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global antimicrobial susceptibility test market is expected to grow from USD 4.58 billion in 2019 and to reach USD 7.57 billion by 2027, growing at a CAGR of 6.49% during the forecast period 2020-2027.

The need for antimicrobial susceptibility testing procedures is expected to observe steady growth during the forecast period due to the increasing prevalence of major infectious diseases. The demand for clinical microbiology techniques for microbial identification and antimicrobial susceptibility testing against pathogens with an anticipated rise in the global burden of infectious diseases is expected to witness significant growth during the forecast period. It provides an opportunity for notable market players to produce microbiology products in order to cater to continuous research studies and meet the increasing market demand for effective and precise disease diagnostic products. Early availability of data on bacterial pathogens and antimicrobial susceptibility assists in the timely adoption of appropriate treatment therapies, thereby playing an essential role in disease management.

Antimicrobial susceptibility testing (AST) is a laboratory method conducted to distinguish which antimicrobial regimen is particularly beneficial for individual patients. Antimicrobial susceptibility testing is applied to determine the presence of fungi and bacteria in the body. It is also used to determine the sensitivity of particular bacteria or fungus towards distinct antibiotics. Infectious diseases originated due to bacterial pathogens such as sepsis are developing into a global burden. Administering antibiotic susceptibility tests becomes a vital part of clinical microbiology laboratories. The rapidly increasing geriatric population is also driving to an increased susceptibility of individuals towards chronic diseases. Factors such as the emergence of antimicrobial resistance caused due to drug overuse, rising prevalence of infectious diseases across the globe are contributing to the growth of the market. Also, increasing growth opportunities in emerging economies and growing initiatives by government organizations to enhance the detection and control of antimicrobial-resistant species are promoting the demand for antimicrobial susceptibility testing products.

The increasing number of pandemic outbreaks caused by contagious pathogens such as Neisseria meningitides, Neisseria gonorrhoeae, Streptococcus pneumonia, Shigella, Haemophilus influenza, Vibrio cholera, and Salmonella serotype Typhi is also driving the market for antimicrobial susceptibility testing products. Inadequate availability of therapeutic compensations for antimicrobial testing procedures is a significant factor restraining the preference for advanced clinical microbiology products among healthcare professionals and patients. It directly influences the adoption of premium-priced antimicrobial products, thereby negatively impacting market growth. In the US, medical reimbursements are offered by healthcare services coding, accompanied by medical coverage through third-party payers. Healthcare assistance coding involves CPT codes kept by the American Medical Association (AMA), which are utilized in combination with ICD (International Classification of Diseases) codes for patient examination and reimbursements. Moreover, updating the current CPT/ICD codes or allotting a new code is a complicated and lengthy process that takes up to 2 years. Even after the announcement of a unique code, insurance coverage for new test procedures may vary by insurer or payment mechanism. In the US, Medicare has a policy not to provide any additional reimbursement for the treatment of Hospital Acquired Infections (HAIs), limiting the use of antimicrobial susceptibility testing for HAIs.

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Key players operating in the global antimicrobial susceptibility test market include BD, Thermo Fisher, Hi-Media, Liofilchem, Alifax, Merck Group, Bioanalyse, bioMérieux, Bio-Rad, Accelerate, Synbiosis, Danaher, Creative Diagnostics, Zhuhai DL Biotech and MERLIN. To gain a significant market share in the global antimicrobial susceptibility test market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

The manual antimicrobial susceptibility testing products segment dominated the market and held the largest market share of 38.47% in the year 2019
The product segment includes consumables, automated laboratory instruments and manual antimicrobial susceptibility testing products. The manual antimicrobial susceptibility testing products segment held the highest share of 38.47% in the market in 2019 and is expected to show the highest growth over the forecast period. The huge share of this segment is associated with the advantages. The manual antimicrobial susceptibility testing products offer ease of use, reduced labor cost, low cost, and the adaptability of manual susceptibility testing products with a broad range of organisms.

The clinical diagnostics segment dominated the market and valued at USD 2.68 billion in the year 2019
The application segment includes drug discovery and development and clinical diagnostics. The clinical diagnostics segment had the highest share of USD 2.68 billion in 2019 and is expected to show the highest growth over the forecast period. Several factors, such as the growing burden of antimicrobial resistance, the increasing prevalence of infectious diseases, and rising awareness about antimicrobial susceptibility testing systems for diagnostic applications, are responsible for the considerable market share of the application segment.

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Regional Segment Analysis of The Antimicrobial Susceptibility Test Market

  • North America (U.S., Canada, Mexico)

  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

  • Asia-Pacific (China, Japan India, Rest of APAC)

  • South America (Brazil and Rest of South America)

  • Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global antimicrobial susceptibility test market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region had the largest share of 31.53% in 2019 in the global antimicrobial susceptibility test market. It is due to rising public health awareness, the increasing pervasiveness of infectious diseases, and the growing consumption of antibiotics, eventually forming the resistance among the population in the region.

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About the report: 
The global antimicrobial susceptibility test market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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