(I-BusinessNews.Com, August 13, 2021 ) According to the new market research report Antimicrobial Susceptibility Testing Market is projected to reach USD 4.2 billion by 2025 from USD 3.2 billion in 2020, at a CAGR of 5.5% during the forecast period.
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Growth in this market is primarily driven by the rising incidence of infectious diseases; technological advancements towards the development of rapid AST technologies; increased funding, research grants, and public-private investments; growing government initiatives to detect and control antimicrobial-resistant species; and the emergence of multidrug resistance due to drug abuse. However, the high cost of automated antimicrobial susceptibility testing systems is expected to limit market growth in the coming years. Complex regulatory frameworks that delay the approval of new microbial susceptibility tests are also expected to challenge market growth to a certain extent.
The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017Ã‚Â–2020 to expand their global presence and increase their market shares in the antimicrobial susceptibility testing market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2019, the antimicrobial susceptibility testing market was dominated by bioMÃƒÂ©rieux SA (France), Becton, Dickinson and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), and Bio-Rad Laboratories, Inc. (US).
bioMÃƒÂ©rieux SA (France) is a leader in the global AST market. bioMÃƒÂ©rieux is a developer of innovative solutions for clinical diagnostics and industrial microbiological control in fields such as the agri-food sector, environmental monitoring, and veterinary diagnostics. The comprehensive range of products, high focus on R&D (to deliver novel products in the market), and strong geographical presence are the key factors contributing to the major market share of the company in the AST market. The company has focused extensively on R&D efforts in the field of antimicrobial resistance, with around 75% of the companyÃ‚Â’s R&D budget dedicated to antimicrobial resistance. This heavy investment in R&D is driving the companyÃ‚Â’s launch of new and technologically improved products. For instance, in 2019, the company launched four new ETEST, namely, ETEST Meropenem/Vaborbactam, ETEST Telavancine, ETEST Imipenem/Relebactam, and ETEST Eravacycline. Moreover, in 2019, the company also introduced a new version of the ETEST Piperacilline Tazobactam in the market.
BD (US) has a wide range of product offerings in the antimicrobial susceptibility testing market, including manual and automated susceptibility testing products. The companyÃ‚Â’s flagship product─ Phoenix automated antimicrobial susceptibility testing systemÃ‚Â–is among the most widely used systems in the AST market. The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department. BDÃ‚Â’s global footprint allows it to cater to a customer base across 190+ countries such as Germany, the UK, New Zealand, Australia, and the US.
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Thermo Fisher is among the leading players in the field of healthcare and life science research and applied sciences. The company possesses a robust product portfolio in the antimicrobial susceptibility testing segment and a significant market presence globally, along with strong sales and distribution networks in over 150 countries. The company provides for a wide range of automated, manual, and custom antimicrobial susceptibility testing products and offers the most recently approved FDA-cleared antimicrobials for susceptibility testing. The company primarily focuses on organic growth strategies such as product launches and enhancements to provide high-quality antimicrobial testing solutions to cater to the increasing demand for AST products to fight against antimicrobial resistance.
Mr. Aashish Mehra
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Mr. Aashish Mehra