Market Analysis - Diagnostic Microbiology 2017
The clinical microbiology laboratory has a whole array of diagnostics instruments used for serology, virus culture, and blood culture. Clinical microbiology testing is indispensable for identifying bacterial, fungal, and parasitic infections as well as for preventing epidemics. It also helps in the clinical management of patients. The rapid diagnostic testing market is the most sought after in the microbiology industry as it provides results in less than 30 minutes. Thus, a faster turnaround time (TAT) and immediate results are the major factors that will drive the microbiology market.
The global In Vitro Diagnostics Market is expected to reach $75.1 Billion by 2020, at a CAGR of 5.8% from 2015 to 2020. The global IVD market has evolved over the years with launch of number of innovative techniques having applications across multiple therapeutic areas. Some of the major factors driving the growth of this market are the rising incidences of chronic lifestyle diseases across the globe, growing aging population, and increasing usage of point-of-care testing and personalized medicine. Moreover, a new range of condition-specific markers and tests with advances in genomics and proteomics and increasing investment in emerging countries are creating new opportunities for this market. However, inadequate reimbursement and stringent regulatory approval framework are restraining the growth of this market.
Geographically, North America is the largest regional segment of this market, with a share of ~43% in 2014. The large share of this region can be attributed to the presence of advanced technologies, superlative opportunities for molecular diagnostics in genetic testing and cancer screening, established distribution channels in the region, and the presence of a large number of leading market players such as Abbott Laboratories, Inc., Johnson and Johnson, Becton, Dickson and Company, Danaher Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., and Alere, Inc. (U.S.).
Europe is expected to hold the second-largest share of the global clinical microbiology market in 2016. This prominent market position of the European market is due to factors such as rising acceptance of genome-based diagnostic techniques by healthcare professionals, supportive government policies that ease public accessibility to diagnostic assay procedures (including clinical microbiology), large number of clinical microbiology procedures performed annually across the region, presence of a large number of biotechnology and molecular diagnostic companies, rapid growth in the aging population, and growing incidence of infectious diseases.
Automation has helped to enhance key laboratory performance attributes like consistency, quality, and a slower total turnaround time. Thus, automation is the new trend in the microbiology field. Similarly, factors like the consolidation of diagnostic laboratory chains and the increase in public awareness are driving the growth of the market.
The report ‘Global Microbiology Market forecast for 2018’ analyzes the market by segments such as instruments and reagents. These two segments experienced a positive growth till 2013, with a market value of $3.55 billion, comprising of $2.99 billion for reagents and $0.55 billion for instruments. It is expected to grow at a CAGR of 6.2%.
The U.S. commanded the largest share of 89% in the American microbiology IVD market at $1320.4 million in 2012, and is expected to reach $1715.6 million by 2017, at a CAGR of 5.6% from 2013 to 2018.
Europe holds the second-largest market position. Germany commanded the largest share of 20% at $223.7 million in 2013, and is expected to reach $272.5 million by 2018, at a CAGR of 4.2% from 2013 to 2018.
China commanded the largest share of 53% at $177.1 million in 2013 in the Asian microbiology market, and is expected to reach $334.5 million by 2018, at a CAGR of 14.2% from 2013 to 2018.
- Microbiological Testing/Clinical Microbiology product manufacturers
- Healthcare service providers (Including hospitals and diagnostic centers)
- Pharmaceutical product manufacturing companies
- Clinical testing laboratories
- Clinical Research Organizations (CROs)
- Food and beverages manufacturing companies
- Environmental monitoring committees
- Environmental monitoring product manufacturing companies
- Research laboratories and academic institutes
- Market research and consulting firms
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