Overview:

This research employed a large number of primary and secondary sources. In order to determine the segmentation types, industry trends, major players, competitive landscape, important market dynamics, and major player strategies, the research process involved analyzing a variety of industry-affecting factors.

Global Growth Driving Factors:

Antimicrobial susceptibility testing (AST) industry growth can be attributed to a number of factors, including increased antibiotic resistance, an increase in the prevalence of infectious diseases, and supportive government initiatives aimed at reducing the burden of infectious diseases. The rise in certain diseases like bloodstream infections and pneumonia brought on by E. Coli, K. pneumoniae, P. aeruginosa, and other bacteria has led to a rise in the use of antimicrobial susceptibility testing.

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Revenue Growth Dynamics:

The global antimicrobial susceptibility testing market in terms of revenue was estimated to be worth $3.6 billion in 2022 and is poised to reach $4.7 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027.

Market Size Estimation:

The revenue share analysis of the top players in the antimicrobial susceptibility testing market was used to determine the market size in this report. In order to achieve this, major market participants were identified, and their earnings from the medical aesthetics industry were calculated using a variety of insights obtained throughout the primary and secondary research stages. Examining the annual and financial reports of the leading market participants was one aspect of secondary research. On the other hand, in-depth interviews with significant opinion leaders, including directors, CEOs, and important marketing executives, were a part of the primary research.

Segmental revenues were computed using the revenue mapping of the main solution/service providers in order to determine the global market value.

Data Triangulation:

Subsegments and segments of the Antimicrobial susceptibiity testing market were created after the overall market size was determined using the previously described market size estimation process. To finish the entire market engineering process and determine the precise statistics for each segment and subsegment, techniques such as data triangulation and market breakdown were used. Through an analysis of numerous variables and patterns from the supply and demand sides, the data was triangulated. Additionally, both top-down and bottom-up methods were used to validate the market for antimicrobial susceptibility testing.

Opportunity: Prospects for expansion in developing economies

Players in the antimicrobial susceptibiity testing market have a lot of opportunities in emerging nations like APAC, China, India, and Japan. The market for antimicrobial susceptibility testing is expanding in these nations due to the quick rise in medical tourism, the population growth of adults (those over 20), and the rise in drug abuse. These nations are also home to a workforce that is highly skilled and knowledgeable about cutting-edge technologies.These nations are also underdeveloped in most areas and have lax import/export regulations, which may aid businesses in building their brands. The regions are benefiting from a growing number of technicians who are eager to learn about new technologies and who are developing their skills.

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Geographical Growth Dynamics:

During the forecast period, North America's market is expected to grow significantly.

The market in North America is expected to grow at the fastest rate between 2022 and 2027. In terms of market share for antimicrobial susceptibility testing, North America held the biggest share in 2022—35.4%. With a compound annual growth rate (CAGR) of 5.3%, this market is expected to grow from USD 1.2 billion in 2022 to USD 1.6 billion by 2027. The high percentage of North America can be ascribed to several factors, including the rise in the prevalence of antibiotic resistance, the presence of significant players, rising healthcare costs, technological advancements, and an expansion of local government initiatives. However, Asia-Pacific is anticipated to undergo substantial development because of an increase in investments in the healthcare sector and an increase in the region's overall population.

Global Leading Companies Operating in This Industry:

As of 2021, prominent players in the market are include bioMérieux SA (France), Becton, Dickinson, and Company (US), Thermo Fisher Scientific (US), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US) among others.

Recent Developments:

# In Jan,2023 bioMerieux launched a automated instrument named MAESTRIA
# In Aug,2022 BD India launched the BD MAX MDR-TB panel.
# In May ,2022 Thermofisher scientific introduced automated antimicrobial susceptibility products.

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