(PharmaNewsWire.Com, April 06, 2021 ) 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%.
The COVID-19 pandemic has significantly affected the clinical microbiology market. The market is facing challenges in the manufacturing and supply chain, such as delivering products to end-users in a timely manner as well as attending to an uneven demand for the products and services in the sector. In addition, a dearth of skilled lab professionals to conduct/study diagnostic tests, limited operations in most of the industries, inadequate funding for research and academic institutes, temporary closure of major academic institutes, disrupted supply chain, and challenges in providing essential/post-sales services due to lockdowns have led to the reduced supply of clinical microbiology products to end-users. Research institutes are one of the major end-users of clinical microbiology products. As the pandemic resulted in the temporary closure of several research institutes across the globe, this end-user segment has been affected drastically over the last few months.
The microbiology testing market includes major Tier I and II suppliers like bioMérieux (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.
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.
Reagent estimated to be the growing 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.
Demand for conventional laboratories result in the segment occupying the high share of the microbiology testing market
The product segment owns a good market share In the clinical microbiology 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.
Asia Pacific likely to emerge as the fastest-growing microbiology testing 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 clinical microbiology 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 clinical microbiology market.
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