Anti-microbial/Anti-fungal Tests Market is predicted to expand at a CAGR rate of 5.7% and surpass ~US$ 4.5 Billion by 2032
[Report of 268 Pages] By the end of 2022, the market for anti-microbial/anti-fungal tests is anticipated to be worth US$2.5 Bn. By 2032, the market is expected to grow at a CAGR of 5.7% and surpass US$ 4.5 billion. According to test type, molecular-based tests held the market lead in 2021 with a share of just under 53.5%.
Microbial and fungal infections are a major cause of death globally and can even cause potential epidemics, creating a huge economic burden on countries, especially developing ones. To nip the spread of such infections in the bud, prevention is a far better solution than cure – accomplished by isolating infected cases and carrying out primary screening tests. Future Market Insights in its report titled ‘Anti-microbial/Anti-fungal Tests Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027’ has comprehensively analysed the global anti-microbial/ anti-fungal tests market for a decade. The anti-microbial/ anti-fungal tests market is expected to witness a robust CAGR of 6% from 2017 to 2027.
Region – Robust Healthcare Infrastructure in North America Enables Rapid Anti-Microbial/ Anti-Fungal Testing
North America has the largest regional contribution and is predicted to account for approx. a third of the anti-microbial/ anti-fungal tests market at the end of the forecast period. The North America anti-microbial/ anti-fungal tests market should cross a billion dollars by 2027 – the only region to do so. Most physicians on the continent typically prescribe diagnostics tests before starting any sort of treatment, fuelling demand for anti-microbial/ anti-fungal test kits. Furthermore, there is immense awareness of the side-effects of certain drugs and patients often prefer to get completely diagnosed before seeking treatment.
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Test Type – Molecular Based Tests Critical in Anti-Microbial/ Anti-Fungal Tests Market
Molecular based tests dominated the global anti-microbial/ anti-fungal tests market by test type in 2017 and are likely to retain this commanding position for the foreseeable future. Molecular based tests have a market attractiveness index of 2.6 – considerably higher than all other test types in the anti-microbial/ anti-fungal tests market. Within the molecular based tests segment, companies would be advised to focus their attention on the PCR Test sub-segment as it is roughly thrice the size of DNA microarray tests in terms of value. The PCR test segment is further poised to record a CAGR of 6.4% for the decadal study.
Infection Type – Target Antimicrobial Resistance and Microbial Infection Segments in Anti-Microbial/ Anti-Fungal Tests Market
The antimicrobial and microbial resistance segments are the ones to look out for as they comprise almost 3/4th of the global anti-microbial/ anti-fungal tests market between them. The multi-drug-resistant mycobacterium tuberculosis sub-segment is the largest in the antimicrobial resistance segment and should grow at a high rate as well. Along with multi-drug-resistant mycobacterium tuberculosis, the microbial infection segment holds great potential in the anti-microbial/ anti-fungal tests market as it is on track to push past a value of US$ 1 billion by end 2027.
End User – Hospitals and Reference Labs Demand Antimicrobial/ Antifungal Testing Kits
Hospitals and reference labs are the largest end users in the anti-microbial/ anti-fungal tests market by a substantial margin. It has been observed that the global per-capita healthcare spending has doubled because of rising awareness of myriad treatment options and diagnostic tools for detecting and curing various diseases. Reference labs are predicted to grow faster than hospitals in the anti-microbial/ anti-fungal tests market.
Competition Dashboard in the Anti-Microbial/ Anti-Fungal Tests Market
The companies profiled in the report are Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories, Bruker Corporation, Danaher Corporation, Erba Mannheim, F. Hoffmann-La Roche AG, Luminex Corporation, Meridian Bioscience, Norgen Biotek Corp., Omega Diagnostics Group Plc., Qiagen N.V., Quidel Corporation, and Thermo Fisher Scientific Inc.
The prevalence and incidence rate of infectious diseases such as diarrhoea and malaria is at an all-time high in Asia and Africa. Governmental and non-governmental organizations such as the WHO are seeking to reduce prevalence rates by early diagnosis through antimicrobial and antifungal kits. In addition to this, government tenders and partnerships with manufacturers is anticipated to provide a steady revenue stream for the latter, growing the anti-microbial/ anti-fungal tests market as a whole.
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