Market Research Future estimated that the global microbiology testing market overview is set to touch the mark of 10.4% CAGR with valuation of USD 5409.16 million, during the forecast period.
The market for global microbiological testing has been identified as one that is expanding quickly, and it is anticipated that this trend will continue in the near future. The key drivers of the global market for microbiological testing are the rising incidence of infectious diseases, shifting disease patterns, and rising awareness. In addition, the market is stimulated by changes in the medical industry, technical advancements, new methods and procedures, and increasing funding for research.
Technological advances, an increasing number of infectious disease cases, disease monitoring programs, higher standards and inefficient traditional laboratory techniques are the most important factors for market growth. However, inaccurate results and the high cost of reagents and instruments may limit market growth.
Some dangerous and sometimes fatal sexually transmitted diseases include viruses like HIV, hepatitis B and C, human papillomavirus (HPV), and others. The need for microbiological testing is growing as these diseases are becoming more prevalent. Additional factors influencing the expansion of the microbiological testing market include rising healthcare expenses and the availability of superior medical infrastructure, such as hospitals and clinical laboratories.
The rapid growth observed in the geriatric population, the increasing number of microbiological clinical studies, the increased frequency of infectious diseases and funding, research grants, and public-private investments are some of the factors that influence population growth of the global market for microbiological testing.
In addition, the increasing number of infectious disease cases, disease surveillance programs, stricter standards and weak traditional laboratory techniques are likely to support market growth. On the other hand, incorrect results and the high cost of reagents and instruments should hinder market growth.
The global microbiology testing market size is segmented by product type, application and end user.
Depending on the type, the global market is subdivided into instruments, chemicals and reagents, consumables and accessories, etc.
Based on the applications, the global market was segmented into gastrointestinal infections, respiratory tract infections, urinary tract infections, sexually transmitted infections, and so on.
Based on the end user, the global market has been segmented into associated hospital laboratories, independent laboratories, and academic and research institutions.
The global microbiology testing market players are, BioMérieux SA, Beckman Coulter, Inc. (a subsidiary of Danaher Corp), Cepheid (a subsidiary of Danaher), F. Hoffmann-La Roche Ltd, and Thermo Fisher Scientific Inc.
North America is estimated to dominate the global microbiology testing market over the forecast period. This can be attributed to the rapid acceptance of advanced products and techniques. The European microbiological testing market is expected to be the second largest in the forecast period. Increased innovation and evolving laboratory practices are expected to stimulate market growth in this region.
Asia Pacific is considered the fastest growing market due to increased funding for RD, health infrastructure development, growing awareness of microbiological testing, government initiatives to improve public health and increase investment by key players.
The Middle East and Africa are likely to witness steady market growth because of the region's poor access to healthcare facilities, lack of awareness of cutting-edge microbiological testing methods, low RD funding, and scarcity of equipment.
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