(PharmaNewsWire.Com, May 12, 2020 ) Growth in the Microbiology Testing Market can be attributed to the technological advancements in the disease diagnostics, rising incidence of infectious diseases and growing outbreak of epidemics, and increased funding and public-private investments in the field of disease diagnosis. On the other hand, reimbursement concerns and unfavorable regulatory scenario are expected to limit market growth to a certain extent.
The global Microbiology Testing Market is projected to reach USD 4.9 billion by 2023 from USD 3.6 billion in 2018, at a CAGR of 6.4% from 2018 to 2023.
The major players operating in the Microbiology Testing Market include bioMérieux SA (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories Inc. (US), Bio-Rad Laboratories Inc. (US), F. Hoffmann La-Roche Ltd. (Switzerland), Bruker Corporation (US), and Hologic Inc. (US) among others. An analysis of the market developments between 2014 and 2018 revealed that several growth strategies such as new product launches; partnerships and collaborations; strategic acquisitions; and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the Microbiology Testing Market.
A majority of the leading companies in the Microbiology Testing Market are focusing on product development as their key growth strategy. Companies have adopted this strategy to expand and strengthen their product portfolio and to offer their customers technologically-advanced and low-cost products. Many prominent companies are also adopting the strategy of agreements, partnerships, and collaborations to strengthen their distribution networks, enhance their R&D capabilities, and penetrate the emerging nations of the APAC Microbiology Testing Market. As of 2017, process automation, device miniaturization, incorporation of robotics in laboratory workflows, and the expansion of product distribution networks in APAC are the ongoing trends in the global Microbiology Testing Market.
bioMérieux S.A. (France) held the leading position in the global Microbiology Testing Market in 2017. The company has a robust product portfolio and a strong geographical presence in more than 150 countries across the world. To maintain its leadership position in the market, the company has been focusing on R&D activities and product launches. In 2017, the company invested ~13% of its revenue in R&D activities, with the aim to improve product quality, accuracy, and reduce the overall throughput time required for a test. The company launched several products in the clinical testing space in the past four years, such as VITEK MS, FilmArray 2.0, VIDAS C. difficile GDH assay kit, GENE-UP diagnostic solution, ChromID Salmonella ELITE, and FilmArray Ebola test, among others. It also aims to increase its geographical presence and strengthen its product portfolio through growth strategies such as partnerships, collaborations, and expansions. In line with this, in 2017, the company established a new R&D center in France, which is a new multidisciplinary R&D center for infectious disease diagnostics. Further, in 2015, the company entered into a distribution agreement with COPAN (Italy), which helped the company to expand its product portfolio.
Danaher Corporation (US) held the second position in the global Microbiology Testing Market in 2017. The company operates in the clinical microbiology testing market through its wholly owned subsidiaries— Beckman Coulter and Cepheid. Danaher is focusing on strengthening its position in the global Microbiology Testing Market mainly by adopting strategies such as acquisitions and new product launches. The acquisition of Beckman Coulter Inc. (a major player in the US life sciences and diagnostics market) in June 2011 helped the company strengthen its product portfolio and increase its share in the clinical microbiology testing market. The acquisition of Cepheid in November 2016 further helped to enhance the company’s position, expand its molecular diagnostic products portfolio, and increase its market share in the clinical microbiology testing market. The company also acquired Siemens Healthcare’s clinical microbiology business (July 2014) and Xitogen Technologies Inc. (April 2014) to strengthen its product offerings and geographic presence. The company launched several innovative products, such as DxM 6100 Autoplak Advanced System, Xpert Xpress Flu Test Kit, DxONE Clinical Information Management Tools, VERIS Human CMV Assay, and UniCel DxH Connected Workcell Solution, among others. These products have helped the company remain competitive in the microbiology testing market.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 sales@marketsandmarkets.com
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