The Global Microbiology Testing Market is expected to reach US$ 5409.1 million by 2023 and is projected to grow at a CAGR of 10.4% during the forecast period from 2017-2023.
Global Microbiology Testing Market – Competitive Analysis
The global market consist of players such as Alere (US), BD (US), Beckman Coulter, Inc. (US), Biomérieux SA (France), Cepheid (US), F. Hoffmann-La Roche Ltd (Switzerland), and Thermo Fisher Scientific Inc. (US). These are the prominent players at the forefront of competition in the global microbiology testing market and are profiled in MRFR Analysis report.
Global Microbiology Testing Market – Market Overview:
Microbiology testing has emerged as one of the rapidly changing and growing segment of healthcare over the past few years. Microbiology testing deals with the study of microbial germs and their clinical applications for the improvement of health. Microbiology testing is concern with the diagnosis, prevention and treatment of various infectious diseases such as, sexually respiratory infections, urinary tract infections, gastrointestinal infections, sexually transmitted infections, and many others. These diseases can be spread from one person to another, directly or indirectly.
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According to a recent study published by the Market Research Future analysts, the global microbiology testing market is growing at a double digit growth rate; mainly due to factors such as technological advancements, rising cases of infectious diseases, surveillance programs for disease control, and rising stringency of standards. On the other hand, erroneous results produced during the testing, and heavy costs of the tests and instruments have created some obstacles in the growth of this market in all parts of the world.
Global Microbiology Testing Market – Regional Analysis
In 2016, North America and Europe were holding more than half market share of global microbiology testing market. Increasing funding for R&D is major driving force for the market growth. The funding for microbiology testing in US is one of the highest as compared to other countries. Rapid adoption of advanced products and techniques are driving the growth for North America market. Increasing cases of infectious diseases are promoting the research related activities in this region. Independent laboratories are dominating the North America market by adopting new technologies and trends.
European market is second highest revenue generator after North America. Europe microbiology testing market has benefited by the presence of some major players in this region. Moreover, increasing innovation and changing laboratory practices are driving the growth for Europe microbiology testing market. Microbiology testing have huge and increasing demand not only in developed countries but also in developing countries like China, India, and Spain.
Rising prevalence of respiratory infections are increasing burden on Asia-Pacific healthcare system. Being a large population base, increasing aging population, and increasing use of technology in healthcare, China microbiology testing market is growing at rapid pace. China is expected to grow at a CAGR of 12.8% during the forecast period. The number of independent laboratories are rapidly increasing such as KingMed Diagnostics and Dian Diagnostics. KingMed Diagnostics is largest chain of independent laboratories in china.
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The Middle East and Africa microbiology testing market is growing dramatically due increasing prevalence of various infectious diseases like Ebola. This region is carrying greatest burden of infectious disease. Sexually transmitted diseases are also major public health problem in this region. There are some factors are affecting the microbiology testing market in this region such as, limited access to the healthcare facilities, lack of knowledge of new microbiology testing techniques, less funding R&D, limited availability of products etc.
1 Report Prologue
2 Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
4 Market Dynamics
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