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Antimicrobial Susceptibility Testing Market: A Booming Industry On The Rise
Antimicrobial susceptibility testing (AST) is a laboratory procedure used to determine which antibiotics will be most effective in treating a particular bacterial infection. The test involves exposing the bacteria to a range of antibiotics to see which ones are able to inhibit or kill the growth of the organism.
The global antimicrobial susceptibility testing market is expected to reach USD 4.7 billion by 2027, growing at a CAGR of 5.5% during the forecast period (2022-2027). The market growth can be attributed to the increasing prevalence of infectious diseases, rising healthcare expenditure, and growing demand for new and advanced antimicrobial susceptibility testing techniques.
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Factors Driving the Antimicrobial Susceptibility Testing Market
◉ Rising Prevalence of ...
... Infectious Diseases
The increasing prevalence of infectious diseases such as pneumonia, tuberculosis, and urinary tract infections is one of the key factors driving the antimicrobial susceptibility testing market. According to the World Health Organization, tuberculosis is one of the top 10 causes of death worldwide and the leading cause from a single infectious agent. In addition, the emergence of antibiotic-resistant strains of bacteria has further increased the demand for advanced antimicrobial susceptibility testing techniques.
◉ Growing Healthcare Expenditure
As the global population continues to grow and age, healthcare expenditure is expected to increase. According to the World Health Organization, global healthcare expenditure is projected to reach USD 18.28 trillion by 2040, up from USD 7.72 trillion in 2015. This is expected to drive the demand for antimicrobial susceptibility testing, as healthcare providers seek to reduce the cost of treating infectious diseases by using more effective antibiotics.
◉ Technological Advancements in Antimicrobial Susceptibility Testing
Recent advancements in technology have led to the development of new and advanced antimicrobial susceptibility testing techniques. For example, the use of microfluidics, biosensors, and digital imaging technologies has enabled the development of rapid and accurate antimicrobial susceptibility testing systems. These new technologies are expected to drive the growth of the antimicrobial susceptibility testing market in the coming years.
◉ Increasing Focus on Preventive Healthcare
Preventive healthcare is becoming increasingly important as healthcare providers seek to reduce the burden of infectious diseases on the healthcare system. Antimicrobial susceptibility testing plays a critical role in preventive healthcare, as it allows healthcare providers to identify antibiotic-resistant strains of bacteria before they become a significant public health concern.
Challenges Facing the Antimicrobial Susceptibility Testing Market
◉ Regulatory Challenges
Antimicrobial susceptibility testing is subject to regulatory oversight in many countries, which can create challenges for companies seeking to develop and market new testing products. The regulatory approval process can be lengthy and expensive, which can limit the availability of new and advanced testing technologies.
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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.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
An innovative professional with 6+ years of progressive experience within the Healthcare industry. with the skills to drive business growth, capitalize on new revenue potential, and manage all aspects of daily internet / eCommerce operations.
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