Diagnostic Laboratories and Hospitals to Remain Primary End Users in Antimicrobial Susceptibility Test Market
Recent times have witnessed a marked shift towards personalised 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.
High R&D Investments Restrict Market Opportunities to Leading Players
Low return on investment in the antimicrobial susceptibility market is a crucial challenge for manufacturers. Unlike therapeutics used to treat chronic illnesses, antimicrobial drugs are prescribed for a limited time. However, capital expended during the development and marketing phases falls short of desired returns with the limited consumption of drugs.
Moreover, high investment capacities in research & development activities will offer leading players in the antimicrobial susceptibility test market an edge over regional and local players.
Given this influence, small- and mid-level players are finding it difficult to make a breakthrough in the antimicrobial susceptibility test market. Besides this, scientific and regulatory challenges encountered by manufacturers in the antimicrobial susceptibility test market further extend the time to market and increase the cost of development, which could hamper the on-time marketability of products.
Time-efficiency to Remain Central to Foster Innovation
Antibacterial drugs have been playing a pivotal role in the prevention of infectious diseases; however, several cases of drug abuse, during the animal breeding process, have led to the development drug resistance.
The excessive use of drugs to control microbial infections is leading to drug wastage, thereby causing economic loss to livestock farmers. Delay caused in diagnosing harmful bacteria further makes it difficult to control the spread of infection altogether. This is putting enormous pressure on players in the antimicrobial susceptibility test market to develop test kits that offer accurate results in a short duration of time.
Although fast techniques are readily available for identifying bacteria, determining drug susceptibility still significantly depends on traditional methods, with turnaround times in the range of 24 to 48 hours.
This makes it imperative for market players to amplify their focus on improving the turnaround time to have a better exposure in the antimicrobial susceptibility test market.
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.
Through effective online marketing techniques, market players can also create awareness regarding the key features of their products, which will further boost the sales prospects of antimicrobial susceptibility test products.
Avail customized purchase options for your needs
Impact of Top Market Trends on North America
In 2019, North America accounted for ~34% of the total share in the global antimicrobial susceptibility test market, which is projected to further increase by 2025. Top trends influencing the global antimicrobial susceptibility test market include increasing microbial resistance, rise in public-private partnerships, regulatory barriers, technological advancements, and impact of traditional methods.
Among these dynamics, the impressive technical prowess of players operating from North America has a high influence on technological advancements of antimicrobial susceptible test products. However, the presence of stringent regulations in the healthcare sector is projected to demand a lot of manufacturers’ time and efforts in receiving an 'Okay Tested' approval for their products.
Besides this, public health, being the key agenda of the government in the region, is found to have a positive impact on public-private partnerships in North America. This is also projected to serve as an instrument to accelerate the pace of product development for market players.
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.
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.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.