Antimicrobial Resistance Surveillance Market worth $7.7 billion | MarketsandMarkets
CHICAGO, Sept. 19, 2023 /PRNewswire/ -- In the near future, the antimicrobial resistance surveillance industry is poised to undergo a transformative evolution, driven by advances in technology, global collaboration, and a growing awareness of the critical importance of addressing antibiotic resistance. Integrated data platforms, harnessing the power of artificial intelligence and genomic sequencing, will revolutionize the tracking and monitoring of resistant pathogens, enabling swift responses to emerging threats. International cooperation will be paramount, as countries recognize the interconnected nature of this global challenge. Moreover, pharmaceutical companies will increasingly invest in novel antibiotic development, spurred by innovative incentives, to combat the looming crisis. As a result, the antimicrobial resistance surveillance industry will become a pivotal player in safeguarding public health, offering hope in the battle against one of the most pressing threats of our time.
Antimicrobial Resistance Surveillance Market in terms of revenue was estimated to be worth $5.9 billion in 2023 and is poised to reach $7.7 billion by 2028, growing at a CAGR of 5.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growth in this market is majorly driven by growing prevalence of infections caused by drug-resistance pathogens, innovations in diagnostic technologies, and growing government initiatives to combat antimicrobial-resistance species.
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Antimicrobial Resistance Surveillance Market Scope:
The diagnostic kits segment is expected to account for the largest share of the market during the forecast period
On the basis of solutions, the global antimicrobial resistance surveillance market has been segmented into diagnostic kits, diagnostic systems, surveillance software, and services. In 2023, the diagnostic kits segment is estimated to command the largest share of the global antimicrobial resistance surveillance market. The large share of this segment can primarily be attributed to the increasing demand for rapid and accurate diagnostics for antimicrobial resistance. Diagnostic kits are used to detect the presence of antimicrobial-resistant bacteria in clinical samples, such as blood, urine, and respiratory secretions.
The clinical diagnostics segment is expected to account for the largest share of the market during the forecast period.
On the basis of application, the global antimicrobial resistance surveillance market has been segmented into clinical diagnostics, public health surveillance, and other applications. In 2023, the clinical diagnostics segment is expected to command the largest share of the global antimicrobial resistance surveillance market. The growth in this segment can be attributed to factors such as need to improve patient outcomes, increasing prevalence of antimicrobial resistance, used to determine the susceptibility of bacteria to different antimicrobial agents.
The hospitals & clinics segment is expected to account for the largest share of the market
On the basis of end users, the global antimicrobial resistance surveillance market has been segmented into hospitals & clinics, research and academic institutes, and others. In 2023, the hospitals & clinics segment is expected to command the largest share of the global antimicrobial resistance surveillance market.The large share of this segment can be attributed to the fact that because they are the primary settings where antimicrobial-resistant infections occur and they are required to conduct antimicrobial resistance surveillance.
Asia Pacific to witness the highest growth during the forecast period.
In 2022, North America accounted for the largest share the antimicrobial resistance surveillance market. During forecast period, Asia Pacific to witness high growth rate. America. The Asia Pacific region is expected to offer significant opportunities for the growth of the antimicrobial susceptibility testing market. This is because of the region's large population and its mix of growing and developed economies, such as Japan, China, and India. In addition, markets in developed countries are becoming increasingly saturated. As a result, manufacturers and suppliers are shifting their focus to Asia Pacific.
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Antimicrobial Resistance Surveillance Market Dynamics:
Key Market Players:
The prominent players in this market are Biomerieux (France), Lumed (US), Liofilchem S.r.l. (Italy), BioSpace (US), Bruker (US), Bio-Rad (US), Abbott Laboratories (US), Qiagen (Germany), Cepheid (US), Accelerate Diagnostics, Inc. (US), Roche Diagnostics (Switzerland), Luminex Corporation (US), Merck KgaA (Germany), Thermo Fisher Scientific (US), Danaher (US), Becton, Dickinson and Company (US), OpGen, Inc. (US), Alifax S.r.l. (Italy), Wolters Kluwer N.V. (US), and Bioanalyse (Turkey).
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Antimicrobial Resistance Surveillance Market Advantages:
In summary, the antimicrobial resistance surveillance market offers a multifaceted approach to tackling one of the most pressing global health challenges of our time. Its advantages include early detection, data-driven decision-making, global collaboration, improved infection control, resource optimization, support for antibiotic development, increased public awareness, informed policy development, and long-term cost savings, all of which contribute to a more effective and sustainable response to antimicrobial resistance.
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