Global Antimicrobial Susceptibility Testing Market to Grow by USD 832.14 Million during 2019-2023|Technavio

Technavio has published a new market research report on the global antimicrobial susceptibility testing market from 2019-2023. (Graphic: Business Wire)

LONDON--()--Technavio’s latest market research report on the global antimicrobial susceptibility testing market (AST) forecasts the market to witness a CAGR of over 5% during the forecast period. This research report segments the market by application (clinical diagnostics, drug discovery and development, and others) and geography (North America, Europe, Asia, and ROW).

Increasing collaborations between government and private stakeholders to gain prominence

The global antimicrobial susceptibility testing market has been witnessing increased involvement of the private sector along with various governments. Government bodies are increasingly facilitating efficient product development by working with both domestic and international partners. Regulatory agencies and federal organizations including FDA and CDC are continuing to work collaboratively with Congress and other stakeholders for finding additional ways for preventing, detecting, and addressing antibiotic resistance (AR). Furthermore, companies are collaborating to launch pilot programs to aid clinicians in determining a new-to-market drug for treating a highly drug-resistant infection effectively. As a result, with continuous collaborations and networking among the market participants, the global antimicrobial susceptibility testing market is anticipated to witness significant growth over the next few years.

Clinical diagnostics application segment to account for the highest share

The clinical diagnostics segment comprises of hospitals and diagnostic centers focusing on antimicrobial susceptibility testing to diagnose patients before the administration of drugs. AST plays a crucial role in ensuring the quality of patient safety and care. Furthermore, AST offers information on pathogens, their mode of transmission, and their mechanism of causing infection and growth. Therefore, with the rising use of AST, various stakeholders in the healthcare industry are able to offer the most appropriate treatment for the patient. Hence, the rising demand for AST solutions will boost the market in the forthcoming years.

“There has been a constant increase in the use of in-vitro diagnostic (IVD) tests including AST. IVD tests often play a key role in minimizing healthcare costs as they help in determining the right treatment plan for patients. Therefore, the rising demand for accurate and early disease diagnosis coupled with growing awareness of personalized medicine will eventually boost the adoption of antimicrobial susceptibility testing during the forecast period,” says a senior research analyst at Technavio.

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Antimicrobial susceptibility testing market to witness fastest adoption in Asia.

Asia will account for the fastest antimicrobial susceptibility testing market growth during the forecast period owing to the major revenue contributions from economies including China and Japan. The region has witnessed an increased incidence rate of antibiotic resistance in recent years. Antibiotic resistance often occurs due to several reasons including over-prescribing of antibiotics, poor infection control in hospitals and clinics, and poor hygiene and sanitation practices. In addition, the growing number of chronic diseases in several countries including China, is compelling healthcare specialists to opt for AST products for drug development and discovery. The considerable presence of several vendors in the region offering a wide range of AST products will boost market growth in the forthcoming years.

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the global antimicrobial susceptibility testing market analysis include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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With over 500 specialized analysts, Technavio boasts of an extensive report library comprising of over 10,000 reports, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than a hundred Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets. Technavio helps companies to assess their competitive position within changing market scenarios.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio’s global antimicrobial susceptibility testing market (AST) report forecasts the market to witness a CAGR of over 5% during 2019-2023.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com