In North America, the government authorities and private companies have significantly contributed toward technology development, research funding, and commercialization of clinical microbiology associated devices.
Further Key Findings from the Study Suggest:
Rapid adoption of technology and automation of laboratory work flow, laboratory instrument segement is expected to be the fastest growing segment with CAGR of 8.6% over the forecast period.
Reagents is the largest segment with market share of 34.7% in 2015. Repeat purchase of reagents contribute to its growth thus it is the largest growing segment in market.
In 2015, North America dominated the global market with largest revenue share of 41.0%. The continuous research on infectious disease treatment, and subsequent grant from government healthcare agencies are contributing to the development of a strong ecosystem for the expansion of clinical microbiology in the region.
Asia Pacific is expected to emerge as the fastest growing region during the forecast period. The growing geriatric population in India, China and Japan leading to increase in the prevalence of re-emerging infectious diseases such as tuberculosis, cholera and typhoid in this region are expected to promote the utilization of clinical application of microbiology in healthcare.
The clinical microbiology Industry is presently dominated by a few key participants such as bioMerieux S.A., Cepheid Inc., Danaher Corporation and Bruker Corporation. Some of the prominent players operating in the market include but are not limited to Becton Dickinson & Company, Hologic Inc., Roche Diagnostics and Alere Inc. Introduction of automated systems and innovative designs, is expected to intensify the competition by changing the market dynamics over the forecast period.
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