Microbiology Testing/Clinical Microbiology Market Overview
Medical microbiology is a branch of medical science concerned with the prevention, diagnosis and treatment of infectious diseases. In addition, this field of science studies various clinical applications of microbes for the improvement of health.
Medical microbiologists often serve as consultants for physicians, providing identification of pathogens and proposing treatment options. Other tasks may include the identification of potential health hazards to the community or observing the evolution of potentially virulent or resistant strains of microbes, educating the community and assisting in the design of health practices.
Technological advancements, increasing incidence of infectious diseases and rising outburst of epidemics; growing healthcare spending across the world; and growing funding, research grants, and public-private investments in the field of life science researches are the key market drivers for the clinical microbiology industry. Furthermore, refining healthcare infrastructure across the developing markets and growing market demand for advanced molecular diagnostic products provide opportunities for players in the clinical microbiology market. Operative barriers for diagnostic test usage and bundled sales by market giants across major markets are the key challenge restraining the growth of the global clinical microbiology market.
Microbiology Testing/Clinical Microbiology Market Forecast Report (2018-2023)
Global Microbiology Testing/Clinical Microbiology Market was worth USD 4.34 billion in 2018 and is projected to be growing at a CAGR of 11.80%, to touch USD 7.58 billion by 2023.
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Microbiology Testing/Clinical Microbiology Market Segmentation
The Global Microbiology Testing/Clinical Microbiology Market is segmented on the basis of Application, Clinical Application, Product, and Geography. Based on Product, the Microbiology Testing/Clinical Microbiology market is divided into Pharmaceutical, Clinical, Manufacturing and Energy. The Clinical Application or Disease Area segment consists of Respiratory Diseases, STD and UTI. The Microbiology Testing/Clinical Microbiology Product segment is categorised into Instruments, Analyzers, and Consumables.
The market has been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. As of 2016, North America leads the market, accounting for the major stake of the global clinical microbiology market share. North America’s lead is warranted by the presence of key market players in the region, relatively high number of registered treatments and increasing use of cartilage repair or regeneration to treat sports injuries and other accidents. Europe comes in second in terms of market share owing to the rising awareness about blood related disorders and the swift availability of treatment in terms of plasma fractionation. However, Asia-Pacific is expected to outpace all other regions by clocking the highest CAGR during the forecast period majorly because of the rising number of hospitals and clinical diagnostic laboratories in India and China; expanding research capabilities for the development of innovative and affordable clinical microbiology testing procedures across India, China, and Japan; and rising incidences of infectious diseases.
The major companies dominating this market for its products and services are
- Danaher Corporation (U.S.),
- Dickinson and Company (U.S.),
- Cepheid (U.S.)
- Abbott Laboratories Inc. (U.S.),
- Bio-Rad Laboratories Inc. (U.S.),
- Hoffman-La Roche Ltd. (Switzerland),
- Alere Inc. (U.S.),
- Bruker Corporation (U.S.), and
- Hologic, Inc. (U.S.), among others.
The Global Microbiology Testing/Clinical Microbiology Market is quite consolidated with the key companies spending a lot of money and time on R&D to expand market boundaries while also focusing on product differentiation.
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