Anti-Microbial Resistance Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029

Description

Anti-Microbial Resistance Market size was valued at USD 9,278.2 million in 2022 and is poised to grow at a significant CAGR of 6.1% over 2023-2029. Antimicrobial resistance has emerged as the most serious threat to public health and is now considered as a global burden. Rapid diagnostic tests that identify microorganisms at high risk of developing drug resistance, assess antimicrobial susceptibility, and distinguish viral from bacterial infections might help guide effective treatment approaches. Rapid diagnostic tests also facilitate epidemiological surveillance by enabling the tracking of emerging resistant infectious diseases and their spread. To survive, bacteria can develop mechanisms known as antibiotic and antifungal resistance. The specific proteins that DNA instructs the germ to create determine the germ’s resistance mechanisms. Bacteria and fungi include numerous types of resistance genes. The perfect convergence of resistance mechanisms in bacteria that are already difficult to treat can render all antibiotics and antifungals ineffective, resulting in untreatable diseases. Uncomfortably, bacteria resistant to antibiotics and antifungals may share such resistance mechanisms with other bacteria. The primary reasons driving market growth include the high disease burden from pathogens such as streptococcus pneumonia, MRSA, C. difficile infections, and others, additionally the rise in the occurrence of Antimicrobial Resistance (AMR) infections. Furthermore, increased demand for technologically sophisticated diagnostic solutions to manage AMR, as well as rising regulatory approvals of diagnostic devices, are expected to drive market expansion. For instance, in September 2021, MeMed announced that its MeMed BV diagnostic test obtained 510(k) approval from the U.S. FDA. The test is used to distinguish bacterial and viral infections in point-of-care settings. The growing issue of antibiotic resistance is projected to aid market growth. According to the CDC, approximately 2.8 million cases of AMR occur in the United States each year. Furthermore, according to the United States Pharmacopeial Convention, AMR kills around 700,000 people worldwide each year. Furthermore, if microbial infection detection and treatment are not appropriately handled, the number could reach 10 million per year by 2050.