(I-BusinessNews.Com, October 20, 2020 ) According to the new market research report Clinical Microbiology Market is estimated to be USD 3.9 billion in 2020 and projected to reach USD 5.3 billion by 2025, at a CAGR of 6.5%.
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The increasing prevalence of infectious diseases and growing outbreak of epidemics (such as COVID-19), technological advancements, and increased funding and public-private investments are the key factors driving the growth of the orthopedic braces and supports the industry.
The clinical microbiology market includes major Tier I and II suppliers like bioMÃ©rieux (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), and Roche Diagnostics (Switzerland). Other prominent players include Thermo Fisher Scientific (US), QIAGEN (Netherlands), 3M (US), Bio-Rad Laboratories (US), Bruker Corporation (US), and Hologic (US). These suppliers have their manufacturing facilities spread across regions such as North America and Europe.
COVID-19 has impacted their businesses as well. Demand for clinical microbiology from key end-users has declined a bit amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have a short-term decline in the growth for the microbial testing market in 2020, but will experience normal development as the market gradually steadies by the end of 2020.
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Demand for conventional laboratories result in the segment occupying the high share of the clinical microbiology market
The product segment owns a good market share in the microbial testing market. The large share of this segment is attributed to factors such as the significant adoption of conventional laboratory instruments among researchers and academia (coupled with growing industry-academia collaborations for genomic research), technological advancements in the field of molecular techniques and proteomics (such as the integration of microfluidics with PCR and nanotechnology with qPCR techniques), and the ongoing trend of laboratory automation among clinical laboratories.
Reagent estimated to be the growing microbial testing market
The clinical microbiology reagents market is expected to witness sustained demand during the forecast period, owing to the high prevalence of infectious diseases across major markets (resulting in a growing number of clinical diagnostic procedures), the increasing trend of reagent rental agreements along with instrument sales, and a growing number of life science researches in the field of specific reagents for targeted infectious disease diagnosis and treatment, especially across emerging countries. However, growing laboratory automation has reduced overall reagent consumption in recent years, which is expected to affect the sales of reagents overall.
Asia Pacific likely to emerge as the fastest-growing clinical microbiology market, globally
Geographically, the emerging Asian countries, such as China, India, South Korea, Taiwan, and Singapore, are offering high-growth opportunities for market players. The Asia Pacific market is projected to grow at the highest CAGR from 2020 to 2025. Government efforts to increase awareness related to genome-based infectious disease diagnosis; supportive regulations for the development and commercialization of advanced clinical microbiology products; rising healthcare expenditure; the increasing number of hospitals and clinical diagnostic laboratories in India and China; expanding research base across India, China, and Japan; and the rising incidence of infectious diseases are driving the growth of the APAC market.
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Prominent players in clinical microbiology market include bioMÃ©rieux (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), Roche Diagnostics (Switzerland), Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), 3M (US), Bio-Rad Laboratories (US), Bruker Corporation (US), and Hologic (US).
Mr. Aashish Mehra
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Mr. Aashish Mehra