Home Press Releases Antimicrobial Susceptibility Testing Market worth $4.7 billion by 2027 , at a CAGR of 5.5%

Antimicrobial Susceptibility Testing Market worth $4.7 billion by 2027 , at a CAGR of 5.5%

by Press Room


 


(EMAILWIRE.COM, October 06, 2023 ) The report “Antimicrobial Susceptibility Testing Market by Product (Manual, Automated), Type (Antibacterial, Antifungal), Application (Clinical Diagnostics), Method (ETEST, Disk Diffusion,Agar Diffusion,Genotyping), End-User – Global Forecasts to 2027 “, is projected to reach USD 4.7 billion by 2027 from USD 3.6 billion in 2022, at a CAGR of 5.5% during the forecast period. 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.

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Automated Laboratory Instruments segment to register a significant growth rate over the forecast period of 2022-2027

Based on the product type, the antimicrobial susceptibility testing market is segmented into Manual antimicrobial susceptibility testing products, Automated Laboratory Instruments, Culture and Growth Media, and Consumables. with each segment covering various products used in susceptibility testing. Automated Laboratory Instruments hold the largest share of the antimicrobial susceptibility testing market in 2022. The large share of this segment can be attributed to Getting fast results than the traditional procedures used in susceptibility testing

The hospitals and Diagnostic centers segment accounted for the largest share of the Antimicrobial Susceptibility Testing market, by the end-user market in 2022.

Based on End users, the antimicrobial susceptibility testing market is segmented into Hospitals and Diagnostic centers, Pharmaceutical and Biotechnology companies, Research & Academic Institutes, and Clinical research organizations.

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North America to register major growth in the market during the forecast period

North America microcatheter market is anticipated to register the highest growth over the forecast period of 2022 to 2027. North America accounted for the largest share of 35.4% of the antimicrobial susceptibility testing market in 2022. This market is projected to reach USD 1.6 billion by 2027 from USD 1.2 billion in 2022, at a CAGR of 5.3% during the forecast period. The large share of North America can be attributed due to the growth in antibiotic resistance prevalence, the existence of important actors, an increase in healthcare spending, technological developments, and an increase in government activities in the area. Nonetheless, due to a rise in the region’s population generally and rising investments in the healthcare industry, Asia-Pacific is expected to experience significant development.

As of 2022, prominent players are Becton, Dickinson and Company, Biomerieux SA, Bio-Rad Laboratories, Inc., Bruker, Danaher Corporation.



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