|Market Size in 2020||Market Forecast in 2028||Growth Rate (in %)||Base Year|
|USD 12.3 billion||USD 20.1 billion||CAGR at 6.9%||2020|
Clinical Microbiology Market
The global Clinical Microbiology Market accrued earnings worth approximately 12.3 (USD Billion) in 2020 and is predicted to gain revenue of about 20.1(USD Billion) by 2028, is set to record a CAGR of nearly 6.9% over the period from 2021 to 2028. The report offers an assessment and analysis of the Clinical Microbiology Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).
Clinical microbiology is experiencing remarkable advances in deploying of genome sequencing-based assays, characterization assays, genome sequencing-based assays, and mass-spectrometry-based detection. In addition to this, laboratory automation and information systems linkage for big data and AI approaches are also introduced in clinical microbiology domain in recent years. Apparently, quick detection of microorganisms in clinical microbiology laboratory can prove to be of high significance for choosing optimal patient management strategies to treat fungal, bacterial, and mycobacterial infections. Moreover, clinical microbiology is based on skilled & technical workforce for processing as well as interpreting outcomes from clinical specimens.
Growing occurrence of contagious diseases such as COVID-19 and technological breakthroughs in disease diagnostics methods will steer growth of clinical microbiology industry over forthcoming years. The need for quick diagnosis of infectious ailments will prompt market size. As per Center for disease control and prevention report, nearly about 9,000 tuberculosis cases, 51,000 salmonella cases, 33,400 Lyme disease incidences, and 400 meningococcal cases were found in the U.S. in year 2014. For the record, the American Cancer Society reported nearly 10, 00,000 cancer cases in the country in 2017. Hence, large occurrence of ailments requiring clinical tests are utilized as key diagnostics tools and this is likely to accentuate growth of clinical microbiology market in foreseeable future.
In addition to this, rise in funding of research activities for developing pathogen-specific diagnostic kits, a rise in acceptance of novel genomic methods, surging use of clinical microbiology items in diagnostic units & research labs, and massive allocation of funds by the government for drug development & drug discovery will elicit growth of clinical microbiology market over forecasting years.
Asia Pacific Market To Register Highest CAGR Over 2021-2028
Thriving medical tourism industry is set to steer demand for monitoring tests in countries such as Thailand, India, Malaysia, and China, thereby driving clinical microbiology market trends in Asia Pacific zone. In addition to this, easy availability of adept workforce at minimal costs along with presence of robust manufacturing base in countries such as Japan and China will promulgate expansion of clinical microbiology industry in Asia Pacific over assessment period. In addition to this, giant drug & medical equipment manufacturing firms are shifting their production bases in Asia, thereby resulting in an increment in the proceeds of the clinical microbiology market. Rapid increase in aging population in countries such as India, Japan, and China along with rise in contagious diseases including tuberculosis, typhoid, hepatitis, and cholera will steer expansion of clinical microbiology industry in the years to come.
|Report Attributes||Report Details|
|Report Name||Clinical Microbiology Market Research Report|
|Market Size in 2020||USD 12.3 billion|
|Market Forecast in 2028||USD 20.1 billion|
|Growth Rate||CAGR of 6.9%|
|Number of Pages||199|
|Key Companies Covered||Hologic Inc.; Roche Diagnostics; bioMerieux S.A.; Cepheid Inc.; Alere Inc., Becton Dickinson & Company; Danaher Corporation; and Bruker Corporation.|
|Segments Covered||By product, By application, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2018 to 2020|
|Forecast Year||2021 - 2028|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Key players influencing business space and contributing towards market growth are:
The global Clinical Microbiology Market is segmented as follows:
Contagious diseases like COVID-19 are becoming more common, and technical advancements in disease diagnosis techniques will drive market growth over the future years. The extent of the market will depend on how quickly infectious diseases can be diagnosed.
By 2028, the global Clinical Microbiology Market is expected to generate revenues of about 20.1 (USD Billion), up from earnings of around 12.3 (USD Billion) in 2020.
The Global Clinical Microbiology Market is anticipated to record a CAGR of nearly 6.9% from 2021 to 2028.
Clinical microbiology market trends in the Asia Pacific region will be influenced by a thriving medical tourism industry, which is expected to drive demand for monitoring tests in nations like Thailand, India, Malaysia, and China.
The Global Clinical Microbiology Market is led by players like Hologic Inc.; Roche Diagnostics; bioMerieux S.A.; Cepheid Inc.; Alere Inc., Becton Dickinson & Company; Danaher Corporation; and Bruker Corporation.