03 August 2020
Visiongain has launched a new pharma report Clinical Microbiology Market Report 2020-2030: Prospects by Product (Laboratory Instruments (Incubators, Gram Stainers, Bacterial Colony Counters, Autoclave Sterilizers, Microbial Air Samplers, Anaerobic Culture Systems, Petri Dish Fillers, Blood Culture Systems & Other Laboratory Instruments), Microbiology Analyzers (Molecular Diagnostic Instruments, Microscopes & Mass Spectrometers), Reagents), Application (Respiratory Diseases, Bloodstream Infections, Bloodstream Infections, Sexually Transmitted Diseases, Urinary Tract Infections, Periodontal Diseases), and Geography.
The global clinical microbiology market is projected to grow at a lucrative CAGR of ~xx% and anticipated to surpass USD xx billion by 2030.
The growth of the global clinical microbiology market is owed to the rising geriatric population coupled with the growing incidence of infectious diseases and increased funding & research grants from public & private entities. However, concerns about reimbursement & unfavorable regulatory scenario are anticipated to limit the growth of the global clinical microbiology market over the forecast period. Also, rising healthcare infrastructure across emerging economies and growing demand for advanced molecular diagnostic products are offering fresh revenue generation avenues for the companies operating in the clinical microbiology industry.
Additionally, the high prevalence of cancer cases is anticipated to fuel market growth over the forecast period. As per the reports of the American Cancer Society, over 1.7 million fresh cancer cases were diagnosed in the United States alone in the year 2018. Thus, the growing prevalence of cancer is anticipated to fuel the United States’ market growth over the forecast period.
Moreover, according to an article published in the Journal of Clinical Microbiology, samples and specimens are being handled and interpreted by a lack of qualified and skilled specialists in clinical and microbiological laboratories. In contrast, the number of medical laboratory training programs and students graduating from such programs in the United States has declined sharply over the past few years.
There is a lack of trained graduates & training programs, particularly in emerging economies, where demand for skilled professionals is increasing rapidly. However, over the forecast period, the market entry of automated systems will overtake traditional manually operated methods, thus reducing the impact of a lack of skilled professionals.
As air pollution increases with increasing industrialization, the prevalence of respiratory diseases is rapidly escalating. Respiratory diseases often spread rapidly among all infections due to the transmission of infectious pathogens. Therefore, over the forecast period, the segment is expected to show significant growth. Also, infectious disease prevalence is high in both developed and developing countries.
In the year 2018, North America dominated the global clinical microbiology market owing to the presence of a highly developed healthcare structure coupled with growing investments to tackle growing healthcare expenditure. However, Asia Pacific clinical microbiology market is anticipated to witness the highest CAGR over the forecast period owing to the growing patient pool in emerging economies like Japan, China, and India. Also, Japan is one of the leading countries with strong technological developments and growing usage microbial testing for different applications.
The booming medical tourism industry in Thailand, India, China, and Malaysia is anticipated to further boost the market growth in the Asia Pacific region. Also, the availability of skilled labor at affordable costs and growing penetration of major pharma & biotech companies in the region is projected to strengthen the position of Asia Pacific clinical microbiology market over the forecast period.
Some of the major players operating in this industry are 3M, Abbott, Agilent Technologies, Alere Inc., Beckman Coulter, Inc., Becton Dickinson And Company, Biomerieux S.A., Bio-Rad Laboratories Inc., Bruker Corporation, Cepheid Inc., Danaher Corporation, Himedia Laboratories Private Limited, Hologic, Merck KGaA, Neogen, Qiagen, F. Hoffmann-La Roche Ltd. Shimadzu, Thermo Fisher Scientific among other prominent players.
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