Fact.MR, the antimicrobial susceptibility test market is projected to record year-over-year growth of 6.5% in 2020, over 2019.
Opportunities for players in the antimicrobial susceptibility test market are likely to arise from increasing public-private partnerships in the healthcare sector. These partnerships are intended to encourage the free flow of finance for the development of effective products. Despite this financial lucidity, the high development cost of testing kits, given the complexity and tedious nature of testing, could adversely impact returns on investment of manufacturers.
Diagnostic laboratories and hospitals are projected to remain crucial end users, and a substantial chunk of product sales will close from the clinical diagnosis of bacteria, fungi, and parasites.
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Key Highlights of Antimicrobial Susceptibility Test Market Study
- Ease of sample processing through the use of advanced lab instruments and better turnaround time of samples are projected to create a large patient pool for diagnosis, which, in turn, will amplify the demand for antimicrobial susceptibility test kits during the forecast period.
- Online sales channels are emerging as an integral revenue stream for the antimicrobial susceptibility test market. These channels are being leveraged by key vendors to disseminate brand information and gain access to local markets.
- Initiatives taken by central health authorities are projected to draw consumers’ attention towards the importance of antibiotics. For instance, WHO observes a week in November as World Antibiotic Awareness Week (WAAW), to inspire the best clinical practices among health workers and policymakers in order to control antibiotic resistance.
- Introduction of advanced antimicrobial susceptibility tests, which offer results in around 2 hours, sets the standards for better patient outcomes. For instance, FASTinov announced the launch of a rapid antimicrobial susceptibility test, which is based on flow cytometry, to offer clinically-implementable results in as little as two hours. Such advancements are likely to inspire the development of effective test products.
Antimicrobial Susceptibility Test Market – Assessment of Key Segments
Authors of the report have segmented the antimicrobial susceptibility test market into key categories in order to study the market at a microscopic level. The key segments considered while bifurcating the antimicrobial susceptibility test market include:
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A senior market research analyst at Fact.MR opines that– “An entry into the antimicrobial susceptibility test market is highly capital-intensive, as CAPEX includes the cost of sophisticated equipment and skilled labor. In addition, capital becomes an essential fuel to foster R&D activities, which could create an entry barrier for new players in the antimicrobial susceptibility test market.”
|Product||Method||Test Type||Application||End User||Region|
|Kits, Reagents, & Consumables||Broth Dilution Method||Antibacterial||Clinical Diagnosis||Diagnostic Laboratories and Hospitals||North America|
|Automated Test Systems||Rapid Automated Method||Antiparasitic||Drug Discovery and Development||Research and Academic Institutes||Latin America|
|Culture Media||Disk Diffusion Method||Antifungal||Others||Pharmaceutical and Biotechnology Companies||Europe|
|Gradient Diffusion Method||Others||Contract Research Organizations||Asia Pacific|
|Molecular Testing Method||Middle East & Africa|
Besides laying focus on the aforementioned key segments, the report also studies the antimicrobial susceptibility test market at a country level, to recalibrate the underlying opportunities available for players in the antimicrobial susceptibility test market for the forecast period. Among all the estimated data, the report also includes Y-o-Y growth projections, which can help market players in comprehending the precise trajectory at which the antimicrobial susceptibility test market has been growing.
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Key companies profiled in the report on antimicrobial susceptibility test market include bioMérieux SA, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Alifax Holding S.p.A., Creative Diagnostics, Becton, Dickinson and Company, HiMedia Laboratories, Cepheid, Biotron Healthcare, and Conda.
Antimicrobial Susceptibility Test Market – Research Methodology
The antimicrobial susceptibility test market has been evaluated by taking a top-down and bottom-up approach. Demand, geographical presence, distribution strategies by manufacturers, and initiatives taken by governments and NGOs are various factors considered while estimating the revenue of the antimicrobial susceptibility test market for each device, and thus, reaching global numbers. The study on the antimicrobial susceptibility test market is further validated through extensive primary research on the data extracted from exhaustive secondary research.
In order to conduct secondary research, annual company reports, company websites, data from the World Health Organization (WHO), SEC filings, press releases, investor presentations, and other similar resources were studied. To validate the information compiled through secondary research, interviews with key opinion leaders and subject matter experts were scheduled. In addition to this, authors of the report also had email and telephonic interactions with the senior management of leading and prominent companies to confirm the size, growth trends, and future outlook of the antimicrobial susceptibility test market.
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