Opportunities for players in the antimicrobial susceptibility test market are likely to arise from increasing public-private partnerships in the healthcare sector. These partnerships are intended to encourage the free flow of finance for the development of effective products. Despite this financial lucidity, the high development cost of testing kits, given the complexity and tedious nature of testing, could adversely impact returns on investment of manufacturers. Diagnostic laboratories and hospitals are projected to remain crucial end users, and a substantial chunk of product sales will close from the clinical diagnosis of bacteria, fungi, and parasites. Given the impact of numerous dynamics recorded in an exclusive study published by Fact.MR, the antimicrobial susceptibility test market is projected to record year-over-year growth of 6.5% in 2020, over 2019.
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Antimicrobial Susceptibility Test Market – Assessment of Key Segments
Authors of the report have segmented the antimicrobial susceptibility test market into key categories in order to study the market at a microscopic level. The key segments considered while bifurcating the antimicrobial susceptibility test market include:
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Besides laying focus on the aforementioned key segments, the report also studies the antimicrobial susceptibility test market at a country level, to recalibrate the underlying opportunities available for players in the antimicrobial susceptibility test market for the forecast period.
Among all the estimated data, the report also includes Y-o-Y growth projections, which can help market players in comprehending the precise trajectory at which the antimicrobial susceptibility test market has been growing.
Key Highlights of Antimicrobial Susceptibility Test Market Study
- Ease of sample processing through the use of advanced lab instruments and better turnaround time of samples are projected to create a large patient pool for diagnosis, which, in turn, will amplify the demand for antimicrobial susceptibility test kits during the forecast period.
- Online sales channels are emerging as an integral revenue stream for the antimicrobial susceptibility test market. These channels are being leveraged by key vendors to disseminate brand information and gain access to local markets.
- Initiatives taken by central health authorities are projected to draw consumers’ attention towards the importance of antibiotics. For instance, WHO observes a week in November as World Antibiotic Awareness Week (WAAW), to inspire the best clinical practices among health workers and policymakers in order to control antibiotic resistance.
- Introduction of advanced antimicrobial susceptibility tests, which offer results in around 2 hours, sets the standards for better patient outcomes. For instance, FASTinov announced the launch of a rapid antimicrobial susceptibility test, which is based on flow cytometry, to offer clinically-implementable results in as little as two hours. Such advancements are likely to inspire the development of effective test products.
A senior market research analyst at Fact.MR opines that– “An entry into the antimicrobial susceptibility test market is highly capital-intensive, as CAPEX includes the cost of sophisticated equipment and skilled labor. In addition, capital becomes an essential fuel to foster R&D activities, which could create an entry barrier for new players in the antimicrobial susceptibility test market.”
Developing Regions Hold High RoI Potential over Developed Regions
The shift from traditional testing methods to new ones is underway – albeit at a slow pace – in developing countries. Players in the antimicrobial susceptibility test market can exploit this opportunity to move their operational facility to these regions to lower overhead costs and close profitable deals. Regulations regarding product development are relatively lenient in these countries, which further draws the attention of global market players operating in developed countries.
For instance, bioMerieux SA announced an alliance with Merieux NutriSciences, and launched VITEK express identification services in the U.S., Spain, and Italy. In addition, Bio-Rad Laboratories, Inc. announced a partnership with Illumina, Inc. for the development of a comprehensive next-gen sequencing workflow for single-cell analysis. Besides these developments, players in the antimicrobial susceptibility test market are magnifying their focus on the production of biologics-based therapeutics and vaccines, and this is projected to remain crucial for achieving better patient outcomes and higher recovery rates.
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