the global market is expected to reach USD 3.47 Billion by 2022 from USD 2.71 Billion in 2017, at a CAGR of 5.1%.
Northbrook, IL, United States -- (SBWIRE) -- 02/06/2018 -- According to a new market research "Antimicrobial Susceptibility Testing Market by Product (Automated System, Disks, MIC Strips, Media), Method (Dilution, Diffusion), Type (Antibacterial, Antifungal), Application (Clinical, Drug Discovery), End User (Labs, Hospitals) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 3.47 Billion by 2022 from USD 2.71 Billion in 2017, at a CAGR of 5.1%.
Browse 62 market data Tables and 38 Figures spread through 164 Pages and in-depth TOC on "Antimicrobial Susceptibility Testing Market"
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The major factors driving the growth of the antimicrobial susceptibility testing (AST) market include the rising prevalence of infectious diseases; increased funding, research grants, and public-private investments; and technological advancements towards rapid susceptibility testing methods.
The manual antimicrobial susceptibility testing segment is estimated to account for the largest share of the market by product in 2017
The AST market is segmented on the basis of product into automated laboratory instruments, manual antimicrobial susceptibility testing products, culture and growth media, and consumables. The manual antimicrobial susceptibility testing products segment is expected to command the largest share of the global AST market in 2017. The large share of this segment is attributed to the benefits these products offer such as low cost, ease of use, reduced labor cost, and and the compatibility of manual susceptibility testing products with a wide range of organisms.
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Diagnostic laboratories and hospitals are expected to be the largest end users is the AST market in 2017
By end user, the market is segmented into diagnostic laboratories and hospitals; pharmaceutical and biotechnology companies; contract research organizations; and research and academic institutes. The hospitals and diagnostic laboratories segment is expected to account for the largest share of the AST market in 2017 due to the increasing prevalence of infectious diseases, rising healthcare expenditure, and increasing number initiatives dedicated towards better antibiotic use.
North America is expected to dominate the Antimicrobial Susceptibility Testing Market during the forecast period
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global AST market during the forecast period (2017-2022). Factors such as the presence of prominent AST players in the region, increasing initiatives towards creating awareness about microbial resistance, and increasing healthcare expenditure are fueling the growth of Antimicrobial Susceptibility Testing Market in this region.
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The major players operating in the Antimicrobial Susceptibility Testing Market include bioMérieux (France), Danaher (US), BD (US), Thermo Fisher (US), and Bio-Rad (US), among others.