Antimicrobial Susceptibility Testing Market is Estimated to Witness High Growth Owing to Opportunity of Rising Burden of Antibiotic Resistance

 

Global Antimicrobial Susceptibility Testing Market Size
Global Antimicrobial Susceptibility Testing Market Size 


Antimicrobial susceptibility testing, also known as drug sensitivity testing, is a technique used to determine the sensitivity of bacteria or other microbes to certain antibiotics or antimicrobial medications. These tests help medical professionals choose the most effective antimicrobial therapy in the treatment of infections. The global burden of antibiotic resistance has been rising at an alarming rate mainly due to overuse and misuse of antibiotics. With the emergence of superbugs that are resistant to multiple antibiotics, antimicrobial susceptibility testing has become increasingly important in selecting the most suitable drug for treatment.

The global Antimicrobial Susceptibility Testing Market is estimated to be valued at US$ 3751.4 million in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The rising burden of antibiotic resistance presents a huge market opportunity for antimicrobial susceptibility testing. According to the World Health Organization (WHO), antibiotic resistance is one of the biggest threats to global health, food security, and development today. It is estimated that by 2050, antibiotic resistance could cause as many as 10 million deaths per year worldwide. The increasing prevalence of drug-resistant infections has necessitated the need for improved antibiotic stewardship and infection control practices. Antimicrobial susceptibility testing plays a key role in antibiotic stewardship programs to optimize antibiotic usage and limit the overprescription of broad-spectrum antibiotics. It helps identify the most suitable antibiotic based on the resistance profile of the pathogen. This is expected to drive significant demand for antimicrobial susceptibility testing in the coming years.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate due to high capital requirement and established brands. However, advancements in testing technologies provide opportunities.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several manufacturers. Buyers can negotiate on price and quality.

Bargaining power of suppliers: Suppliers of raw materials have low bargaining power due to the availability of substitutes.

Threat of new substitutes: Threat from substitutes is moderate as alternative testing methods are available but need regulatory approvals.

Competitive rivalry: The market is competitive due to the presence of global and regional players. Players compete on technological advancements, pricing, and service quality.

SWOT Analysis

Strengths: Established brands, global presence, product innovation and focus on R&D.

Weaknesses: High capital investment, stringent regulatory guidelines and dependence on reimbursement policies.

Opportunities: Growth in developing markets, rising incidence of infections, and new testing technologies.

Threats: Intense competition, pricing pressure, and changing reimbursement policies.

Key Takeaways

Global Antimicrobial Susceptibility Testing Market Size is expected to witness high growth due to the rising prevalence of infectious diseases globally. The global Antimicrobial Susceptibility Testing Market is estimated to be valued at US$ 3751.4 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.

The North American region currently dominates the market owing to the well-established healthcare industry and increasing healthcare expenditure. Asia Pacific is expected to grow at the fastest rate during the forecast period due to growing healthcare infrastructure, increasing awareness regarding infections, and improving reimbursement policies.

Key players: Key players operating in the antimicrobial susceptibility testing market are Thermo Fisher Scientific Inc., Cytiva, Sartorius AG, bioMérieux SA, Beckman Coulter Inc. and BD. They are focusing on new product launches and expanding their global footprints through strategic acquisitions and partnerships.

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