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(Health-NewsWire.Net, June 16, 2020 ) According to research report the Clinical Microbiology Market is projected to reach $4.9 billion by 2023 from $3.6 billion in 2018, at a CAGR of 6.4% from 2018 to 2023.
Growth in the clinical microbiology market can be attributed to the technological advancements in the disease diagnostics, rising incidence of infectious diseases and growing outbreak of epidemics, and increased funding and public-private investments in the field of disease diagnosis. On the other hand, reimbursement concerns and unfavorable regulatory scenario are expected to limit market growth to a certain extent.
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Recent Developments:
> In 2018, Roche Diagnostics (Switzerland) launched the cobas TV/MG assay
> In 2017, bioMérieux (UK) received FDA clearance for expanded pathogen identification capability of VITEK MS
> In 2017, Hologic (US) collaborated with Seegene Inc. (South Korea) to develop and supply highly multiplexed real-time PCR reagents and assays for Hologic's Panther Fusion platform
Key Market Players
In 2017, bioMérieux held the leading position of the global clinical microbiology market. The company has a robust product portfolio and a strong geographical presence in more than 150 countries across the world. To maintain its leadership position in the market, the company has been focusing on R&D activities and new product launches.
Danaher Corporation held the second position in the global clinical microbiology market in 2017. The company operates in the clinical microbiology testing market through its wholly owned subsidiaries— Beckman Coulter and Cepheid. Danaher is focusing on strengthening its position in the global clinical microbiology market mainly by adopting strategies of acquisitions and new product launches.
bioMérieux SA (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche AG (Switzerland), Bruker Corporation (US), Hologic, Inc. (US), QIAGEN N.V. (The Netherlands), Thermo Fisher Scientific Inc. (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany), Shimadzu Corporation (Japan), 3M Company (US), and Neogen Corporation (US), among others.
A majority of the leading companies in the Microbiology Testing Market are focusing on product development as their key growth strategy. Companies have adopted this strategy to expand and strengthen their product portfolio and to offer their customers technologically-advanced and low-cost products. Many prominent companies are also adopting the strategy of agreements, partnerships, and collaborations to strengthen their distribution networks, enhance their R&D capabilities, and penetrate the emerging nations of the APAC Microbiology Testing Market. As of 2017, process automation, device miniaturization, incorporation of robotics in laboratory workflows, and the expansion of product distribution networks in APAC are the ongoing trends in the global Microbiology Testing Market.
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North America is expected to dominate the clinical microbiology market in 2018
Geographically, the market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of APAC), and the Rest of the World (Latin America, and the Middle East and Africa). North America is expected to account for the largest share of the global clinical microbiology market in 2018 due to easy accessibility and high adoption of advanced diagnostic techniques, technological advancements in microbial testing techniques, rising geriatric population, and growing public-private funding to support microbiology-based research in the region.
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