Thursday, 7 June 2018

Antimicrobial Susceptibility Test Market to Expand at a CAGR of 4.6% from 2017 to 2025

Transparency Market Research (TMR) has published a new report titled, “Antimicrobial Susceptibility Test Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. According to the report, the global antimicrobial susceptibility test market was valued at US$ 2,578.4 Mn in 2016 is projected to expand at a CAGR of 4.6% from 2017 to 2025. The report suggests that increase in number of infectious diseases, rise in antimicrobial resistance, and research and development are the major factors anticipated to fuel the growth of the market from 2017 to 2025. Key players introduce new drugs in the developed markets such a North America and Western Europe. Hence, these regions are likely to account for significant share of the global antimicrobial susceptibility test market. Changing lifestyle, unhygienic conditions, and increase in number of infectious diseases are the factors expected to drive the antimicrobial susceptibility test market in Asia Pacific at a CAGR of 5.4% from 2017 to 2025.
Antimicrobial susceptibility test is widely used to determine a specific antibiotic which can be used to treat either a bacterial or fungal infection. The number of bacterial infections is increasing across the globe and antimicrobial resistance is rising for existing antibiotics. According to Centers for Disease Control and Prevention (CDC) estimates, antibacterial resistance is responsible for over 2 million infections and 23,000 deaths in the U.S. each year and an estimated 25,000 deaths due to antibacterial-resistant infections in Europe. Hence, demand for newer broad spectrum antibacterial drugs is rising. Over 480,000 new cases of multidrug-resistant tuberculosis (MDR-TB) were reported by the WHO in 100 countries in 2013.
The report offers detailed segmentation of the global antimicrobial susceptibility test market based on product type, method, test type, application, and end-user. In terms of test type, the antibacterial segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Rise in number of bacterial infections and usage of antimicrobial susceptibility test for detecting microbial resistance against various antibiotics will drive the growth of the antibacterial segment. The test is not widely used for detection of antifungal and antiparasitics. Hence, the antiparasitics segment is expected to expand at a significantly sluggish growth rate during the forecast period.
Based on application, the clinical diagnosis segment is projected to expand at a CAGR of 5.1% during the forecast period. Antimicrobial susceptibility test is widely used for the detection of bacteria. Rise in the number of bacterial infections in the developed as well as developing countries increases the number of clinical diagnosis for diseases. Increasing burden of infectious diseases and antibiotic resistance is an alarming health threat in the countries of Asia Pacific. In India, the mortality rate of infectious diseases is 416.75 per 10,000 persons.
In terms of revenue, the antimicrobial susceptibility test market in Asia Pacific is expected to expand at a CAGR of 5.0% during the forecast period. The market in Japan is as large as the U.S., the U.K., Germany, and France. Leading generics manufacturing companies are inclined toward exploring the market in Japan. Hence, generic drugs are likely to account for 80% of prescriptions from 2018 to 2020. The antimicrobial susceptibility test market in North America is driven by rapid growth of the generic drugs market. Patent expiry of branded drugs has boosted the growth of the generics market. Low prices increased demand for generic drugs in the U.S. in 2010. According to a report by Government Accountability Officer, in 2016, there has been an exponential decline in the prices of generic drugs.
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The report also provides profiles of leading players operating in the global antimicrobial susceptibility test market such as Bio-Rad Laboratories, Inc., Beckman Coulter, Inc. (subsidiary of Danaher Corporation), Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Conda, Creative Diagnostics., HiMedia Laboratories, Alifax Holding S.p.A., Danaher Corporation (Cepheid), and Biotron Healthcare.
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