Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Microbiology Testing Market Research Report.
The global microbiology testing market is expecting a more than twofold rise from USD 2706.1 million in 2016 to USD 5409.1 million by 2023, reports Market Research Future (MRFR). The extensively studied report covers the drivers that are going to impact the market decidedly during the forecast period (2014-2023) and delivers a much-precise predictive analysis of the coming years of the market. Infectious diseases are on the rise, and several outbreaks of epidemics across the globe have spurred the demand for microbiology testing. Healthcare segment is witnessing a significant increase in expenditure all over the world, and an increase in research allotments are a positive sign for the microbiology testing market.
However, the market can witness a slight pullback caused by stringent regulatory frameworks, and patient reimbursement policies can impede the market growth for a short span of time. But the bottlenecked market can see a wider scope of possibility with improving technologies in the field of product enhancement which can ease the market growth considerably.
The launch of Endozyme II Go by bioMerieux to test endotoxin in pharmaceutical grade water, injectable drugs, and other pharmaceutical products can be considered a remarkable step. This would also ensure easier and faster workflow than the previous models.
Becton, Dickinson, and Company (BD) has launched several diagnostic informatics and automation innovations to impact the microbiology testing market considerably. BD COR among them is an instrument to clinically measure women’s health, sexually transmitted infections and gastrointestinal applications. On the other hand, BD Kiestra ID/AST modules will use automation for bacterial identification and antibiotic susceptibility testing.
The global microbiology testing market can be segmented by type, application, and end-users.
By type, the market can be segmented into instruments, chemicals & reagents, consumables & accessories, and others. Chemicals & reagents segment accounts for almost 42.1% of the global market
Application-based segmentation includes gastrointestinal infections, respiratory infections, urinary tract infections, sexually transmitted infections, and others.
Based on end-users, the market can be segmented into hospital-based laboratory, independent laboratory, and academics & research institutes.
Geographically, the market spans across regions namely North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America with 37.9% of the global share accounts for the maximum market share. Superior infrastructure, high amount of healthcare investment and a huge patient pool suffering from infectious diseases are pushing the market ahead, and the sector is equally trying to use innovation as the championing cause for further support.
The APAC is the second largest market and the fastest one as well. The market is expecting a stellar CAGR of 12.1% to drive them forward during the forecast period. Emerging economies from the region are spending remarkably to ensure an indelible impact on the market. Europe also is waiting to record significant growth rate during the review period. However, the MEA can fall behind the global average but will ensure a steady growth pace.
The market is quite competitive as regional players are also giving the major market influencers steep competition. Strategies that have been employed by many include new launches just the way bioMerieux did and mergers and collaborations. For instance, Abbott has recently acquired Alere. Thermo Fisher Scientific Inc. on the other hand, has signed an agreement to acquire Gatan from Roper Technologies.
Some of the prominent players in this market are Alere (US), BD (US), Beckman Coulter, Inc. (US), Biomérieux SA (France), Cepheid (US), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (US), and others.