The antimicrobial susceptibility test market is driven by public-private partnerships and rapid advancements, with a projected growth of 6.5% in 2020.
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.
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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.
Key Highlights of Antimicrobial Susceptibility Test Market Study
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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.
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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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The post Antimicrobial Susceptibility Test Market 2025 (Covid-19 Analysis) Major Factors That Can Increase The Worldwide Demand appeared first on Latest Market Reports.
The article discusses the growth and demand factors in the antimicrobial susceptibility test market.
Public-private partnerships and advancements in rapid testing are key growth drivers.
Manufacturers face high development costs and entry barriers due to capital-intensive requirements.
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