by The global antimicrobial susceptibility test market for the historical period 2017–2018 and forecast period 2019–2027, investments in cutting edge research; rising emphasis on remedies for drug and environmental concerns, increasing incidence of infectious diseases and rising antibiotic resistance are projected to drive the global antimicrobial susceptibility test market during the forecast period.
According to the report, the global antimicrobial susceptibility test market was valued at US$ 2,770.9 Mn in 2018 and is anticipated to expand at a CAGR of 4.9% from 2019 to 2027
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Increasing Microbial Resistance and Surge in Government Funding to drive the Global market: Key Drivers
Antimicrobial resistance mechanism are emerging and spreading at a global front, which enables the ways to treat common infectious diseases thus results prolonged illness, disability and at times fatal. Antimicrobial resistance is a complex situation affecting individuals of all ages and races.
According to U.S. Centers for Disease Control and Prevention (CDC) estimated, antibacterial resistance is responsible for over 2 million infections and 23,000 deaths in the U.S. each year and an estimated 25,000 deaths due to antibacterial-resistant infections in Europe. Hence, demand for newer broad spectrum antibacterial drugs is rising. Over 480,000 new cases of multidrug-resistant tuberculosis (MDR-TB) were reported by the WHO in 100 countries in 2013. This increasing microbial resistance is creating a demand for antimicrobial susceptibility tests, contributing to the growth of the global market.
Due to the alarming rise of antibacterial resistance and sparse availability of antibacterial drugs which could cater for the treatment of new infections has been noticed by WHO and other government bodies thus WHO has proposed a new Antibiotic Innovation Funding Mechanism where the government would fund grants and innovation induced prizes which would reward upstream innovation, interim trial results and also the end product results
Governments in several countries are taking initiatives for the allocation of funds needed to create a sustainable and predictable market
Lack of return on investment to Hamper Market
The lack of new, easily identifiable targets, leads to major scientific and technical challenge of new antibacterial drug development increasing the development costs
Discovery and development of antibacterial has become scientifically more complex, expensive, and time consuming over the time, as the new generation antimicrobial has raised the bar and the drug screening process tend to rediscover the same lead compounds over and over again. Drug companies too spend more than $100 million for a phase III program of each antimicrobial drug for a particular indication which would constitute only smaller fraction of the total market
Antimicrobial drugs are taken for a short period of time to cure the patients unlike other drugs which are used to treat chronic illness and are used for the rest of their lives. This makes antibacterial drugs less lucrative business for drug companies. This lack of return on investment hampers the growth of the global market.
Global Antimicrobial susceptibility test Market: Competitive Landscape
This report profiles major players in the global antimicrobial susceptibility test market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global antimicrobial susceptibility test market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global antimicrobial susceptibility test market are
- Bio-Rad Laboratories, Inc.
- Beckman Coulter, Inc. (Subsidiary of Danaher Corporation)
- Thermo Fisher Scientific, Inc.
- Becton, Dickinson and Company
- Conda
- Creative Diagnostics
- HiMedia Laboratories
- Alifax Holding S.p.A.
- Biotron Healthcare
Global Antimicrobial susceptibility test Market: Key Developments
Key players in the global antimicrobial susceptibility test market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global antimicrobial susceptibility test market. A few expansion strategies adopted by players operating in the global antimicrobial susceptibility test market are:
In December 2017, Beckman Coulter, Inc. announced FDA clearance for its automated Access AMH immunoassay and paramagnetic particle chemiluminescent immunoassay
The report on the global antimicrobial susceptibility test market discussed individual strategies, followed by company profiles of manufacturers of antimicrobial susceptibility test. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global antimicrobial susceptibility test market.
Key Questions Answered in Global Antimicrobial Susceptibility Test Market Report
- What is the scope of growth of product companies in the global Antimicrobial Susceptibility Test market?
- What will be the Y-o-Y growth of the global Antimicrobial Susceptibility Test market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global Antimicrobial Susceptibility Test market?
- Will North America continue to be the most profitable market for Antimicrobial Susceptibility Test providers?
- Which factors are anticipated to hamper the growth of the global Antimicrobial Susceptibility Test market during the forecast period?
- Which are the leading companies in the global Antimicrobial Susceptibility Test market?
Global Antimicrobial Susceptibility Test Market – Segmentation
Product
- Kits, Reagents & Consumables
- Culture Media
- Automated Test System
Method
- Broth Dilution Method
- Rapid Automated Method
- Disk Diffusion Method
- Gradient Diffusion Method
- Molecular Testing Method
Test Type
- Antibacterial
- Antifungal
- Antiparasitic
Application
- Clinical Diagnosis
- Drug Discovery and Development
- Others
End-user
- Diagnostic Laboratories and Hospitals
- Pharmaceutical and Biotechnology Companies
- Research and Academic Institutes
- Contract Research Organizations
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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