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![Leveraging Digital Technologies To Accelerate Antimicrobial Susceptibility Testing](https://s3.us-west-2.amazonaws.com/timessquarereporter.com/upload/media/posts/2023-11/23/leveraging-digital-technologies-to-accelerate-antimicrobial-susceptibility-testing_1700733256-b.jpg)
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 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antimicrobial susceptibility testing is used to determine the sensitivity of microorganisms, such as bacteria, viruses, and fungi, to antimicrobial drugs like antibiotics, antivirals, and antifungals. It helps medical practitioners to determine the most effective antibiotic treatment for infections. With the rising threat of antimicrobial resistance, antimicrobial susceptibility testing plays a crucial role in optimizing antibiotic usage and slowing resistance. Automated systems and digital platforms are accelerating this testing by streamlining workflows and reducing turnaround times.
Market key trends:
With the increasing threat of antimicrobial resistance, several initiatives have been undertaken by healthcare organizations and regulatory bodies globally to promote the appropriate usage of antibiotics. Growing investments are being made by industry players to develop advanced digital platforms, artificial intelligence-enabled devices, and molecular diagnostic technologies to accelerate antimicrobial susceptibility testing. Recent advancements like automated automated susceptibility testing systems are helping laboratories to perform large volumes of tests with accuracy and faster turnaround times. This is improving antibiotic stewardship programs and clinical outcomes. However, high costs of advanced systems may limit their adoption in resource-constrained settings.
Porter's Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements and stringent regulatory processes. Furthermore, established players have strong brand recognition and economies of scale.
Bargaining power of buyers: The bargaining power of buyers is moderate. Many enterprises have standardized on particular suppliers for their testing needs. However, presence of substitutes provides some bargaining power to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. Due to availability of substitute technologies, suppliers face pressure on pricing. However, switching costs provide some power to existing suppliers.
Threat of new substitutes: The threat of new substitutes is moderate. Emerging technologies like molecular diagnostics and DNA sequencing offer alternative methods for drug susceptibility testing. However, their applications remain limited in scope.
Competitive rivalry: The competitive rivalry is high among leading players. Players compete based on test menu, turnaround time, accuracy, and service.
Key Takeaways
The Global Antimicrobial Susceptibility Testing Market Demand is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing incidence of infectious diseases and development of rapid automated testing systems.
The North American region currently dominates the market due to high healthcare spending and growing rate of nosocomial infections. Asia Pacific is expected to exhibit fastest growth owing to large patient population, rising penetration of healthcare services, and increasing incidence of antibiotic resistance.
Key players operating in the Antimicrobial Susceptibility Testing market are Thermo Fisher Scientific Inc. and BIOMÉRIEUX, HiMedia Laboratories, Alifax s.r.l. Italy, Creative Diagnostics, Resistell AG, Danaher, Becton, Dickinson and Company, Merck KGaA, Bio-Rad Laboratories, Inc., Bruker, Nissui Pharmaceutical Co., Ltd., F. Hoffmann-La Roche Ltd.,Synbiosis, Mast Group Ltd., ELITechGroup, Flinn Scientific, CONDALAB, Accelerate Diagnostics, Inc. and Zhuhai DL Biotech Co., Ltd.
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