REPORT OVERVIEW
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The global microbiology testing & clinical microbiology market size was USD 3118 million in 2021. As per our research, the market is projected to touch USD 4401.9 million by 2028, exhibiting a CAGR of 4.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
An analytical method known as microbiology testing is used to identify the microorganisms in a variety of samples, including biological, food and beverage, and environmental samples. Numerous chemical, biological, molecular, and biochemical techniques are used in microbiology testing. It is primarily used to combat pathogenic and spoilage microbes. The three most popular tests out of all the others are culture media, immunoassays, and polymerase chain reaction testing.
COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market
The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.
LATEST TRENDS
"Employment of clinical microbiology to be a trend in the market "
Clinical microbiology, another name for the field of microbiology testing, includes a wide range of testing techniques for a variety of microorganisms. Aerobic and anaerobic tests pertaining to bacteriology, parasitology, mycobacteriology, and virology are performed in clinical microbiology laboratories. There is a growing understanding of the need of early infection detection to reduce risk. It is accelerating the expansion of the microbiology testing market. As infectious diseases are spreading globally, both government and non-government organisations support innovative technology in clinical microbiology. In order to identify the infection much more quickly in life-threatening diseases, clinical microbiology employs a variety of rapid techniques to identify particular microbial antigens or nucleic acids in primary non-tissue specimens. It is accelerating market expansion.
SEGMENTATION
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- By Type
Based on type the Global Microbiology Testing & Clinical Microbiology Market share is classified as Cell Culture, Microscopy, Serology.
- By Application
Based on application the Global Microbiology Testing & Clinical Microbiology Market is classified as Hospital Labs, Pathology Labs, Research Institutes, and Others.
DRIVING FACTORS
"Growth in Surgical procedures to fuel the market growth"
The massive rise in STD rates necessitates the adoption of microbiological testing right once. According to data released by the WHO, more than 1 million STDs are contracted daily around the world; by 2022, most of these illnesses will be asymptomatic. For both early identification and efficient treatment of pathogen-borne diseases, several cutting-edge molecular diagnostic approaches are being used more often. When compared to conventional laboratory techniques, advanced molecular diagnostic methods have several technological advantages, including shorter turnaround times, higher sample throughput, multiplexing of reactions, higher specificity, greater accuracy, and increased device sensitivity.
"Technological advancements to accelerate the market growth"
Better sample utilisation and the adoption of a clear clinical methodology for diagnosing certain diseases have resulted from the development and commercialization of pathogen-specific reagent/diagnostic kits. Many well-known product manufacturers are concentrating on creating and commercializing cutting-edge molecular diagnostic tools for the diagnosis of infectious diseases in order to keep up with the changing end-user demands. The rising prevalence of infectious diseases and several key market players' tactics, including product launches and service expansions, are expected to fuel market growth for microbiological testing. Therefore, it is projected that increasing service launches by key market participants will enhance market growth throughout the forecast period. As a result, it will lead the microbiology testing & clinical microbiology market growth.
RESTRAINING FACTORS
"Challenges Impeding the negative effect on the environment"
Late reimbursement is a significant impediment to market expansion in many nations. Microbiology test reimbursement is a difficult process. The difficulty of the reimbursement procedure is a significant barrier for this market. Additionally, the lack of uniform reimbursement procedures in several nations restricts market expansion. As a result, the growth of the market is hampered by the absence of reimbursement in emerging countries. This has a direct impact on the adoption of expensive clinical microbiology products, which has a detrimental effect on the expansion of their market. Unlike outpatient laboratory tests, which are reimbursed locally, inpatient laboratory tests are only reimbursed in conjunction with diagnosis-related group payments.
REGIONAL INSIGHTS
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"North America region becomes the most important dynamic for the sale of this market "
The clinical microbiology market is dominated by North America (the United States and Canada). The clinical microbiology market is mature in North America, where it is widely used by key end users (hospitals, diagnostic centres, research labs, and commercial service providers) and has well-established distribution channels for producers and suppliers of clinical microbiology products. The region's clinical microbiology market is expanding as a result of easy access to and high adoption of new diagnostic technologies, as well as favorable government laws and the US and Canadian governments' large annual per capita healthcare expenditures.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.
List of Market Players Profiled
- Biomerieux (France)
- Danaher (U.S.)
- Becton, Dickinson (U.S.)
- Abbott Laboratories (U.S.)
- Roche Diagnostics (U.S.)
- Bruker (U.S.)
- Hologic (U.S.)
- Bio-Rad Laboratories (U.S.)
- Qiagen (Netherlands)
- Thermo Fisher Scientific (U.S.)
- Agilent (U.S.)
- Merck Kgaa (Germany)
- 3M (U.S.)
- Neogen (U.S.)
REPORT COVERAGE
The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 3118 Million in 2021 |
Market Size Value By |
US$ 4401.9 Million by 2028 |
Growth Rate |
CAGR of 4.6% from 2021 to 2028 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the Global Microbiology Testing & Clinical Microbiology market expected to touch by 2028?
The Global Microbiology Testing & Clinical Microbiology Market is expected to USD 4401.9 million by 2028.
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What CAGR is the Global Microbiology Testing & Clinical Microbiology market expected to exhibit by 2028?
The Global Microbiology Testing & Clinical Microbiology market is expected to exhibit a CAGR of 4.6% by 2028.
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Which are the driving factors of the Microbiology Testing & Clinical Microbiology market?
For both early identification and efficient treatment of pathogen-borne diseases, a number of cutting-edge molecular diagnostic approaches are being used more often.
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Which are the key players functioning in the Microbiology Testing & Clinical Microbiology market?
Biomerieux, Danaher, Becton, Dickinson, Abbott Laboratories, Roche Diagnostics, Bruker, Hologic, Bio-Rad Laboratories, Qiagen, Thermo Fisher Scientific, Agilent, Merck Kgaa, 3M, Neogen are the key players functioning in the Microbiology Testing & Clinical Microbiology market.