The global clinical microbiology market is projected to reach USD 4.95 billion by 2023 from USD 3.63 billion in 2018, growing at a CAGR of 6.4% from 2018 to 2023

NEW YORK, July 4, 2018 /PRNewswire/ -- The global clinical microbiology market is projected to grow at a CAGR of 6.4% in the next five years

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The global clinical microbiology market is projected to reach USD 4.95 billion by 2023 from USD 3.63 billion in 2018, growing at a CAGR of 6.4% from 2018 to 2023. Key factors driving the growth of this market include ongoing technological advancements in the field of infectious disease diagnosis, rising incidence of infectious diseases and growing outbreak of epidemics, and increased funding and public-private investments for research and innovation. However, factors such as reimbursement concerns and unfavorable regulatory scenario are restraining the growth of this market to a certain extent.

The reagents segment is projected to grow at the highest CAGR during the forecast period.
By product, the clinical microbiology market is classified into instruments (laboratory instruments and microbiology analyzers) and reagents (pathogen-specific kits and general reagents).In 2018, the instruments product segment accounted for the largest share of the market, however, the reagents product segment is expected to grow at a higher rate during the forecast period.

The growth of the reagents segment can be attributed to the high prevalence of infectious diseases across major markets, growing trend of reagent rental agreements along with instrument sales, and the increasing number of life science researches in the field of pathogen-specific reagents.

Asia Pacific to witness the highest growth during the forecast period (2018-2023)
North America is expected to hold the largest share of the global clinical microbiology market in 2018, however, Asia Pacific is expected to grow at the fastest rate during the forecast period. Factors such as the growing number of hospitals and clinical diagnostic laboratories in developing APAC countries; expanding research capabilities for the development of innovative and affordable clinical microbiology testing procedures across India, China, and Japan; and the rising incidence and prevalence of infectious diseases in the region.

Break-up of primary participants was as mentioned below:
• By Company Type – Tier 1–33%, Tier 2–46% and Tier 3–21%
• By Designation – C-level–26%, Director Level–20%, Others–54%
• By Region – North America–33%, Europe–29%, Asia Pacific–24%, RoW–14%

Note: RoW includes Latin America and the Middle East & Africa
Some of the major market players in the microbiology testing/clinical microbiology market are 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.

Research Coverage:
This report studies the microbiology testing market based on applications and region and the clinical microbiology market based on product, disease area, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and trends) which affect market growth.

It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for key players.The microbiology testing/clinical microbiology market report profiles key players who are involved in the manufacturing and commercialization of microbiology testing products and analyzes their core competencies.

The report also tracks and analyzes competitive developments in the market such as product launches and enhancements; acquisitions; partnerships and collaborations; and expansions.

Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help players capture larger market shares. Firms purchasing the report could use any one or a combination of the below-mentioned strategies to strengthen their position in the market:
• Market Penetration: Comprehensive information on the top 15 players in the microbiology testing/clinical microbiology market. The report analyzes the microbiology testing market by application and region; and the clinical microbiology market by product, disease area, end user, and region
• Product Development/Innovation: Detailed insights on research and development activities and new product launches in the microbiology testing/clinical microbiology market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various microbiology testing products across five geographies (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa)
• Competitive Assessment: Assessment of market shares, strategies, distribution networks, and manufacturing capabilities of the leading players in the clinical microbiology market

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