Global Clinical Microbiology Market is Forecasted to Touch USD Billion by 2027, Growing at a CAGR of % During 2020 to 2027
Published | 04 January 2021
According to BlueWeaveCon, the global clinical microbiological market size was calculated to be USD 9.1 billion in 2016 and is expected to take a surge at a CAGR of ….% till 2027 with an approximate value of USD … till the forecasted year. The rise in the infectious disease is expected to drive the market along with the subsidizing of the social insurance offered by various organizations and government. Ineluctable ailment expanding with every passing time demanding expenditure, funding, and research allotment will inevitably spur the market scenario.
Better adaptations of end user products for technological advancement will upsurge the market scenario
With the technological advancement, molecular diagnostic techniques help in early identification and effectual treatment. This advanced molecular diagnostic methodology infers sharper sample throughput, brisk turnaround time, specificity, improved accuracy and multiplicity of reaction. NGS, molecular cartridges, real time PCR and PCR coupled with mass spectrometry are such advanced molecular diagnostic techniques which increase the capabilities in analyzing multiple samples in a single input. This identification and characterization of molecules and pathogens allow adaptation of products among key end users including healthcare providers, pharmaceuticals and biotechnology organization and research laboratories. This will implement an aura of expansion of clinical biological market on a global level.
Governmental norms and policies for prioritizing healthcare infrastructure in developing nations
Governments across the world, specifically in emerging countries will offer a diverse opportunity to the clinical biological market. Significant growth opportunities can be attributed to the upsurging ubiquity in maladies like malaria, influenza, tuberculosis, and HIV along with various other genomic efficient disease. Research and development initiatives by developing nations to improvise the healthcare infrastructure, healthcare expenditure and availability of cost efficient clinical microbiological products will help in strengthen the market growth parameters.
North America to lead the global market along with Asian countries during the forecasted period
In 2016, North America registered the highest revenue share in the global market followed by Europe. Adoption of advanced diagnostic techniques in U.S. are a result of developed industrial and healthcare sectors in the country. Apart from this, a stringent regulatory framework and working methodology of leading payers are inflating the regional market growth. Between 2016 to 2024, Asia Pacific is expected to register a fast-paced growth with Japan leading in the arena. Strong technological developments and high usage of microbial testing in various segments are widening the clinical microbiology market in Japan. With a surge in medical tourism in Asian Countries like India, China, Thailand, and Malaysia a demand for microbial diagnostic and monitoring tests in increasing with China contributing to the regional market growth. Also, skilled labors at affordable costs and advanced manufacturing infrastructure are driving the major pharmaceutical and medical devices companies to focus more on Asia.
The key players” in the Global Clinical Microbiology Market includes, BioMérieux (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), and Roche Diagnostics (Switzerland), Thermo Fisher Scientific (US), QIAGEN (Netherlands), 3M (US), Bio-Rad Laboratories (US), Bruker Corporation (US), and Hologic (US) and other prominent players are expanding their presence in the market by implementing various business strategies.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Clinical Microbiology Market size & forecast. The report promises to provide recent technology trends of the Global Clinical Microbiology Market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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