(PharmaNewsWire.Com, August 14, 2021 ) According to the new market research report Clinical Microbiology Market is estimated to be USD 3.9 billion in 2020 and projected to reach USD 5.3 billion by 2025, at a CAGR of 6.5%.
Factors such as the Technological advancements, rising incidence of infectious diseases and growing outbreak of epidemics (such as COVID-19), and increased funding and public-private investments are some of the key factors driving the growth of the microbiological testing/clinical microbiology market. However, unfavorable reimbursement scenarios in some countries are hampering the development of this market.
bioMérieux (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), and Roche Diagnostics (Switzerland). Other prominent players include Thermo Fisher Scientific (US), QIAGEN (Netherlands), 3M (US), Bio-Rad Laboratories (US), Bruker Corporation (US), and Hologic (US) are some of the major players in the clinical microbiology market among others. The analysis of market developments between 2017 and 2020 revealed several growth strategies such as research collaborations and strategic market expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the clinical microbiology market.
bioMérieux is the leading player in the clinical microbiology market. The company has a robust product portfolio and a strong geographical presence in more than 160 countries. To maintain its leadership position in the market, the company has been focusing on R&D activities and product launches. In 2019, the company invested USD 60 million for setting up a production facility in Durham. 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, FilmArray Respiratory Panel, GENE-UP diagnostic solution, EviSight Compact, BacT/ALERT VIRTUO system, FilmArray Gastrointestinal (GI) Panel, ChromID Salmonella ELITE, and FilmArray Ebola test. It also aims to increase its geographical presence and strengthen its product portfolio through growth strategies such as partnerships, collaborations, and expansions.
Danaher is one of the leading companies in the healthcare and life science research industry. The company operates in the clinical microbiology testing market through its wholly-owned subsidiaries Beckman Coulter and Cepheid. Danaher focuses on strengthening its position in the global microbiology/clinical testing market by adopting the strategies of acquisitions and product launches. The company launched several innovative products, such as DxM 6100 Autoplak Advanced System, Xpert Xpress Flu Test Kit, DxONE Clinical Information Management Tools, Xpert Xpress Strep A Test Kit, Access 2 Immunoassay System, VERIS MDx System, VERIS Human CMV Assay, and UniCel DxH Connected Workcell Solution. These products have helped the company increase its revenue and maintain its position in the microbiology testing market.
The product segment owns a good market share In the clinical microbiology market. The large share of this segment is attributed to factors such as the significant adoption of conventional laboratory instruments among researchers and academia (coupled with growing industry-academia collaborations for genomic research), technological advancements in the field of molecular techniques and proteomics (such as the integration of microfluidics with PCR and nanotechnology with qPCR techniques), and the ongoing trend of laboratory automation among clinical laboratories.
The clinical microbiology reagents market is expected to witness sustained demand during the forecast period, owing to the high prevalence of infectious diseases across major markets (resulting in a growing number of clinical diagnostic procedures), the increasing trend of reagent rental agreements along with instrument sales, and a growing number of life science researches in the field of specific reagents for targeted infectious disease diagnosis and treatment, especially across emerging countries.
Geographically, the emerging Asian countries, such as China, India, South Korea, Taiwan, and Singapore, are offering high-growth opportunities for market players. The Asia Pacific clinical microbiology market is projected to grow at the highest CAGR from 2020 to 2025.
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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