Market Research Future estimated that the global microbiology testing market players is set to touch the mark of 10.4% CAGR with valuation of USD 6.19 billion, during the forecast period.
Global microbiological testing has been identified as a market that is rapidly growing, and it is projected that this trend will persist soon. The increasing prevalence of infectious diseases, changing disease patterns, and growing awareness are the main factors driving the global market for microbiological testing. The market is also pushed by modifications in the medical sector, technological developments, novel techniques, and rising research funding.
The main drivers of market expansion are technological advancements, an increase in infectious illness cases, disease surveillance programmes, higher standards, and ineffective traditional laboratory techniques. The expensive cost of reagents and equipment, however, could prevent the market from expanding.
Some dangerous and sometimes fatal sexually transmitted diseases include viruses like HIV, hepatitis B and C, human papillomavirus (HPV), and others. The need for microbiological testing is growing as these diseases are becoming more prevalent. Additional factors influencing the expansion of the microbiological testing market include rising healthcare expenses and the availability of superior medical infrastructure, such as hospitals and clinical laboratories.
The rapid growth observed in the geriatric population, the increasing number of microbiological clinical studies, the increased frequency of infectious diseases and funding, research grants, and public-private investments are some of the factors that influence population growth of the global market for microbiological testing.
In addition, the increasing number of infectious disease cases, disease surveillance programs, stricter standards and weak traditional laboratory techniques are likely to support market growth. On the other hand, incorrect results and the high cost of reagents and instruments should hinder market growth.
The global microbiology testing market is segmented by product type, application and end user.
Depending on the type, the global market is subdivided into instruments, chemicals and reagents, consumables and accessories, etc.
Based on the applications, the global market was segmented into gastrointestinal infections, respiratory tract infections, urinary tract infections, sexually transmitted infections, and so on.
Based on the end user, the global market has been segmented into associated hospital laboratories, independent laboratories, and academic and research institutions.
The global microbiology testing market players are, BioMérieux SA, Beckman Coulter, Inc. (a subsidiary of Danaher Corp), Cepheid (a subsidiary of Danaher), F. Hoffmann-La Roche Ltd, and Thermo Fisher Scientific Inc.
North America is estimated to dominate the global microbiology testing market over the forecast period. This can be attributed to the rapid acceptance of advanced products and techniques. The European microbiological testing market is expected to be the second largest in the forecast period. Increased innovation and evolving laboratory practices are expected to stimulate market growth in this region.
Asia Pacific is considered the fastest growing market due to increased funding for R&D, health infrastructure development, growing awareness of microbiological testing, government initiatives to improve public health and increase investment by key players.
The Middle East and Africa are likely to witness steady market growth because of the region’s poor access to healthcare facilities, lack of awareness of cutting-edge microbiological testing methods, low R&D funding, and scarcity of equipment.
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