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(Health-NewsWire.Net, January 10, 2020 ) The global Antimicrobial Susceptibility Testing Market is expected to reach USD 3.47 Billion by 2022 from USD 2.71 Billion in 2017, at a CAGR of 5.1%.
The major factors driving the growth of the antimicrobial susceptibility testing (AST) market include the rising prevalence of infectious diseases; increased funding, research grants, and public-private investments; and technological advancements towards rapid susceptibility testing methods.
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By end user, the market is segmented into diagnostic laboratories and hospitals; pharmaceutical and biotechnology companies; contract research organizations; and research and academic institutes. The hospitals and diagnostic laboratories segment are expected to account for the largest share of the AST market in 2017 due to the increasing prevalence of infectious diseases, rising healthcare expenditure, and increasing number initiatives dedicated towards better antibiotic use.
The AST market is segmented based on product into automated laboratory instruments, manual antimicrobial susceptibility testing products, culture and growth media, and consumables. The manual antimicrobial susceptibility testing products segment is expected to command the largest share of the global AST market in 2017. The large share of this segment is attributed to the benefits these products offer such as low cost, ease of use, reduced labour cost, and the compatibility of manual susceptibility testing products with a wide range of organisms.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global AST market during the forecast period (2017-2022). Factors such as the presence of prominent AST players in the region, increasing initiatives towards creating awareness about microbial resistance, and increasing healthcare expenditure are fuelling the growth of antimicrobial susceptibility testing market in this region.
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The major players operating in the antimicrobial susceptibility testing market include bioMérieux (France), Danaher (US), BD (US), Thermo Fisher (US), and Bio-Rad (US), among others.
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