Antimicrobial Susceptibility Test Market to Register 6.5% CAGR Amid Burgeoning Incidence of Antibiotic Resistance
Recent times have witnessed a marked shift towards personalized medicines, which is increasing the demand for antimicrobial susceptibility testing products.
Rising government initiatives regarding the development of quality hospital infrastructure, on a global level, and surging susceptibility to infectious diseases, are projected to complement the demand for antimicrobial susceptibility tests in diagnostic laboratories and hospitals during the forecast period (2020-2025).
Besides these institutes, antimicrobial susceptibility test kits are gaining traction in the pharmaceutical and biotechnology sectors for the research & development of new drugs to fight bacteria. In the future, online sales channels will remain a crucial propeller to the growth of the antimicrobial susceptibility test market, as market players intend to penetrate local markets.
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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.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Antimicrobial Susceptibility Test market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Antimicrobial Susceptibility Test
The report offers actionable and valuable market insights of Antimicrobial Susceptibility Test. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Antimicrobial Susceptibility Test Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Antimicrobial Susceptibility Test, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Antimicrobial Susceptibility Test Market.
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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:
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.
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Online Sales Channel – Winning Strategy
The online purchase of antimicrobial susceptibility test kits is projected to evolve as a significant trend during the forecast period of 2020-2025. This is encouraging numerous vendors to improve their online brand recognition value through effective marketing efforts and promotional strategies.
The emergence of these channels will also translate into reduced costs, which are otherwise incurred by brick-and-mortar distribution centres for maintenance purposes. In addition, this is expected to prove beneficial for players to increase their exposure in the antimicrobial susceptibility test market.
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.”
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Report Benefits & Key Questions Answered
- Antimicrobial Susceptibility Test Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Antimicrobial Susceptibility Test Historical volume analysis: The report provides a comparison of Antimicrobial Susceptibility Test’s historical sales and projected sales performance for 2021-2031.
- Antimicrobial Susceptibility Test Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Antimicrobial Susceptibility Test market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Antimicrobial Susceptibility Test Consumption by demographics: The report investigates consumer behavior affecting Antimicrobial Susceptibility Test demand outlook for the assessment period. Effect of their keenness for digital trends on Antimicrobial Susceptibility Test market is carefully analyzed
- Post COVID consumer spending on Antimicrobial Susceptibility Test: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Antimicrobial Susceptibility Test market growth.
More Valuable Insights on Antimicrobial Susceptibility Test Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Antimicrobial Susceptibility Test, Sales and Demand of Antimicrobial Susceptibility Test, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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