Shift Towards Personalized Medicines, Which Is Expected To Fuel The Growth Of The Antimicrobial Susceptibility Test Market
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FACT.MR
By End User, Diagnostic Laboratories And Hospitals Are Expected To Remain Dominant In Antimicrobial Susceptibility Test Market During Forecast Period.
Dublin, Ireland, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: Rise in government initiatives related to the development of quality hospital infrastructure and rise in susceptibility to infectious diseases, are anticipated to boost the demand for antimicrobial susceptibility tests in diagnostic laboratories and hospitals during the forecast period (2020-2025).
Moreover, these kits are rapidly adopted in the pharmaceutical and biotechnology sectors for the research & development of new drugs to fight bacteria.
Online sales channels are expected to remain a growth driver for the antimicrobial susceptibility test market, as market players intend to penetrate local markets. The online purchase of antimicrobial susceptibility test kits is expected to occupy a prominent share during the forecast period of 2020-2025.
Moreover, this is pushing numerous vendors to improve their online brand recognition value through effective marketing efforts and promotional strategies. Increasing microbial resistance, rise in public-private partnerships are boosting the growth of the market during forecast period.
Besides this, antimicrobial susceptibility test kits are gaining traction in various sectors such as pharmaceutical and biotechnology sectors for the research and development of drugs to fight bacteria. In addition to this, excessive usage of drugs across the globe is leading to drug wastage. This is pushing key players in the antimicrobial susceptibility test market to develop test kits that provide accurate results in a short duration of time.
Key Takeaways:
In 2019, North America occupied for ~34% of the total share in the global market, which is further projected to increase by 2025. Moreover, public health has been the key agenda for the government in this region and this is expected to accelerate the pace of product development.
Online purchase of antimicrobial susceptibility test kit is expected to witness rapid growth during the forecast period. Moreover, various vendors are improving their brand online recognition through effective marketing efforts and promotional strategies.
Growth Drivers:
Top trends influencing the global antimicrobial susceptibility test market include increasing microbial resistance, rise in public-private partnerships, regulatory barriers, technological advancements, and impact of traditional methods.
Besides this, public health, being the key agenda of the government in the region, is found to have a positive impact on public-private partnerships in North America. This is also projected to serve as an instrument to accelerate the pace of product development for market players.
Restraints:
Low return on investment in the antimicrobial susceptibility market is a crucial challenge for manufacturers. Unlike therapeutics used to treat chronic illnesses, antimicrobial drugs are prescribed for a limited time. However, capital expended during the development and marketing phases falls short of desired returns with the limited consumption of drugs.
Moreover, high investment capacities in research & development activities will offer leading players in the antimicrobial susceptibility test market an edge over regional and local players.
Various key players in the market are focusing on their online brand recognition through effective marketing efforts. This initative has also been proved beneficial for players to improve their exposure in the antimicrobial susceptibility test market.
Also, through these initiatives, market players are creating awareness regarding the key features of these products, which will further push the sales prospects for the market.
More Valuable Insights on Antimicrobial Susceptibility Test
Segmentation of Antimicrobial susceptibility
By Product:
Kits, Reagents, & Consumables
Automated Test Systems
Culture Media
By Method:
Broth Dilution Method
Rapid Automated Method
Disk Diffusion Method
Gradient Diffusion Method
Molecular Testing Method
By Test Type:
Antibacterial
Antiparasitic
Antifungal
Others
By Application:
Clinical Diagnosis
Drug Discovery and Development
Others
By End user:
Diagnostic Laboratories and Hospitals
Research and Academic Institutes
Pharmaceutical and Biotechnology Companies
Contract Research Organizations
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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