Microbiology Testing/Clinical Microbiology Market Worth 5.77 Billion USD by 2021
PUNE, India, June 3, 2016 /PRNewswire/ --
According to a new market research report "Microbiology Testing / Clinical Microbiology Market by Microbiology Application (Pharmaceutical, Clinical, Manufacturing, Energy), Clinical Application (Respiratory Diseases, STD, UTI), Product (instruments, Analyzers, Consumables) - Global Forecasts to 2021", published by MarketsandMarkets, The Global Clinical Microbiology Market Is Projected to reach USD 5.77 Billion by 2021 From USD 3.35 Billion in 2016, at a CAGR of 11.5%, during 2016 to 2021.
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Browse 74 market data tables with 62 figures spread through 176 pages and in-depth TOC on "Microbiology Testing / Clinical Microbiology Market"
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On the basis of product, the Clinical Microbiology Market is categorized into instruments [laboratory instruments (incubators, gram strainers, bacterial colony counters, autoclave sterilizers, microbial air samplers, anaerobic culture systems, petridish fillers, blood culture systems, microbial culture systems, and other laboratory instruments) and microbiology analyzers (molecular diagnostic instruments, microscopes, and mass spectrometers)] and reagents (pathogen specific kits and general reagents). The instruments segment is expected to account for the larger share of the global Clinical Microbiology Market in 2016. However, reagents segment is projected to grow faster than the instruments segment, growing at a double-digit CAGR during 2016-2021. Growth in the reagents segment is mainly driven by growing trend of reagent rental agreements (along with instrument sales) by prominent reagent manufacturers, rising private-public funding for researches on specific infectious diseases, increasing market availability of pathogen-specific kits across the globe, and growing demand for specific clinical microbiology reagents during epidemic outbreaks.
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Technological advancements; rising incidence of infectious diseases and growing outbreak of epidemics; growing healthcare expenditure across the world; and increasing 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, improving healthcare infrastructure across the emerging markets and growing market demand for advanced molecular diagnostic products provide opportunities for players in the Clinical Microbiology Market. Operational barriers for diagnostic test usage and bundled sales by market giants across major markets are the major challenge limiting the growth of the global Clinical Microbiology Market.
In 2016, North America and Europe are expected to be the mature markets for clinical microbiology products. However, emerging regions such as Asia-Pacific (including Japan, China, and India) are expected to become the new revenue-generating pockets in the Clinical Microbiology Market in the next five years. The North American Clinical Microbiology Market is expected to hold the largest share of the global Clinical Microbiology Market in 2016. However, Asia-Pacific Clinical Microbiology Market is projected to grow at the highest CAGR during the forecast period owing to the growing 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.
Leading players in the Clinical Microbiology Market include bioMerieux S.A. (France), Danaher Corporation (U.S.), Becton, Dickinson and Company (U.S.), Cepheid (U.S.) Abbott Laboratories Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Alere Inc. (U.S.), Bruker Corporation (U.S.), and Hologic, Inc. (U.S.).
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