Coherent Market Insights

Antimicrobial Susceptibility Testing Market to surpass US$ 6.19 Bn by 2031

Antimicrobial Susceptibility Testing Market to surpass US$ 6.19 Bn by 2031 - Coherent Market Insights

Publish In: May 16, 2024

The Antimicrobial susceptibility testing market is estimated to be valued at USD 3.94 Bn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period (2024-2031). The increasing prevalence of infectious diseases and rapid technological advancements are expected to boost the market growth.

Market Dynamics:

The global antimicrobial susceptibility testing market is primarily driven by the increasing prevalence of infectious diseases and growing awareness regarding antimicrobial resistance. According to the World Health Organization (WHO), infectious diseases account for around 26% of all global deaths. The rising number of patients suffering from infectious illnesses has increased the demand for rapid and efficient antimicrobial susceptibility testing procedures. Furthermore, growing concerns regarding antimicrobial resistance due to the overuse of antibiotics is also propelling the need for antimicrobial susceptibility testing procedures to detect drug-resistant microorganisms. Rapid technological advancements in the field of AST instruments is another major factor accelerating the market expansion. The introduction of automated and semi-automated susceptibility testing systems that provide timely and accurate results is boosting their adoption in clinical laboratories. These instruments enable testing of multiple antimicrobial agents simultaneously, reducing turnaround time significantly. This helps clinicians initiate appropriate therapeutic decisions at an early stage.

Increasing prevalence of infectious diseases worldwide is driving the market growth

One of the key drivers for the growth of the global antimicrobial susceptibility testing market is the rising prevalence of infectious diseases worldwide. According to the World Health Organization (WHO), infectious diseases are among the leading causes of death globally, accounting for about 17 million deaths each year. The emergence of pathogenic microbes that are resistant to existing antimicrobial drugs poses a huge threat. The rising cases of pneumonia, tuberculosis, HIV/AIDS, and other infectious illnesses are propelling the need for prompt and accurate antimicrobial susceptibility testing to determine the most effective treatment. Healthcare facilities are extensively relying on AST procedures to optimize antibiotic usage and curb the growing antimicrobial resistance problem.

Strong support from regulatory bodies and government initiatives is fueling market expansion

Government agencies and regulatory authorities around the world are strongly promoting the use of AST by implementing various initiatives and funding programs. For instance, the Center for Disease Control and Prevention (CDC) in the U.S. recommends routine AST for certain conditions to guide clinical decision making. Similarly, the National Health Systems Resource Center (NHSRC) in India has rolled out an antimicrobial stewardship program in collaboration with WHO to enhance appropriate use of antimicrobial drugs. Government support in terms of favorable reimbursement policies and financial assistance schemes for diagnostic laboratories are further augmenting the adoption of AST services worldwide.

High capital investment requirements can hinder the market growth

One of the primary challenges faced by manufacturers and diagnostic labs in the global antimicrobial susceptibility testing market is the huge capital investment required to set up advanced facilities for testing procedures. AST instruments and related equipment involve significant costs which may not be feasible for smaller facilities in low- and middle-income countries. The need for specialized infrastructure, trained microbiologists, and expensive reagents also increases the fixed costs. This substantial initial investment along with high maintenance expenses make antimicrobial resistance testing expensive, thereby restricting widespread implementation, especially in underdeveloped regions with limited healthcare budgets.

Shortage of skilled labor poses operational challenges

Another important restraint for market participants is the shortage of trained medical laboratory technicians and microbiologists proficient in susceptibility testing methods. Since AST procedures require specialized technical expertise, there is a lack of skilled workforce in many countries to operate advanced instruments and interpret their output. Extensive on-job training programs are usually needed which add to operational expenses. The competitive attraction and retention of talents further compounds the skilled staff crunch faced by industry stakeholders. This technical skill gap threatens to slow down the scale-up of AST capacities globally.

Increasing healthcare expenditure in developing nations opens new avenues

Another key market opportunity lies in the increasing allocation of funds towards healthcare and medical facilities in developing economies. According to the WHO, low- and middle-income countries are progressively raising their healthcare expenditure to bolster capacities and tackle the growing burden of infectious illnesses. This represents huge scope for AST product sales since enhanced diagnostics adoption invariably follows overall healthcare spending. Growing private sector investments in medical value travel also elevate the potential for antimicrobial susceptibility testing market expansion in emerging Asian and Latin American countries. Advanced diagnostics adoption, including AST services, is projected to gain more momentum as living standards and disposable incomes rise across developing regions.

Link: https://www.coherentmarketinsights.com/market-insight/antimicrobial-susceptibility-testing-market-2449

Key Development

  • In May 2022, Qualigen Therapeutics, Inc., a biotechnology company, announced that NanoSynex Ltd, a company with whom Qualigen recently entered into definitive agreements to acquire a majority stake, featured at BioMed Israel. Innovative Technology by NanoSynex focuses on accelerating antimicrobial susceptibility test results times by six-fold.
  • In April 2022, Copan Diagnostics Inc., a healthcare company, demonstrated its range of fully automated solutions for the identification and antimicrobial susceptibility testing (AST) in clinical microbiology at the 32nd European Congress of Clinical Microbiology & Infectious Diseases (ECCMID 2022). COPAN demonstrated the Food and Drug Administration-cleared Colibri, a fully automated specimen workup instrument designed to prepare MALDI-TOF ID targets and create bacterial suspensions for AST.
  • In July 2020, Cepheid, a subsidiary of Danaher, a healthcare company, launched a novel rapid molecular test for TB which can detect multi-drug resistance to first-line and second-line drugs simultaneously. The profiling can be achieved in less than 90 minutes. This will drive the antimicrobial testing market in the coming years.

Key Players: Thermo Fisher Scientific Inc., BIOMÉRIEUX, HiMedia Laboratories, Alifax S.r.l., Creative Diagnostics, Resistell AG, Danaher, BD, Merck KGaA, Bio-Rad Laboratories, Inc., Bruker, Nissui Pharmaceutical Co., Ltd., Accelerate Diagnostics, Inc., Zhuhai DL Biotech Co., Ltd., ELITechGroup, Sysmex Corporation, Copan Diagnostics Inc., and Qualigen Therapeutics, Inc.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports


Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail


Logo

Credibility and Certifications

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Credibility and Certifications

27001:2022

Credibility and Certifications

EXISTING CLIENTELE

Created billion dollars of revenue impact on thousands of clients

trusted clients logo
LogoCredibility and Certifications

Trusted Insights, Certified Excellence! Coherent Market Insights is a certified data advisory and business consulting firm recognized by global institutes.

© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.