Microbiology Testing Market | Know the Latest Trends that have the Potential to bring Expansive Market Growth
The global market for microbiology testing is estimated to expand at a promising pace in the next few years owing to the massive rise in the awareness level among patients about the variety of rampant chronic diseases, respiratory infections, and inflammatory conditions. Rapid developments in the field of testing equipment and data processing technologies have also massively favored the market in the recent years. In the next few years, favorable reimbursement policies and favorable economic conditions are expected to drive the market.
The growing prevalence of infectious diseases, outbreaks of epidemics, and most importantly, growing healthcare expenditure have resulted in a significant growth of the global microbiology testing market. Technological advancements, increasing funding, public-private investments in the field of life science researches, and research grants have resulted in higher efficiency, fueling the adoption of microbiology testing. In addition to these factors, a vast rise in the awareness among people in developing nations regarding sex-related health issues is also expected to drive the microbiology testing market.
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The growing incidence of severe and fatal diseases such as HIV, human papilloma virus (HPV), and Hepatitis B and C is increasing the demand for microbiology testing. Improved hospital infrastructures and adequate management of threats of infectious diseases will also aid the market’s growth in the coming years. Additionally, microbiology testing enables effective communication between the doctor and microbiology laboratory.
Global Microbiology Testing Market: Overview
The growth of microbiology testing market is primarily driven by the recent technological advancements that have not only made the tests faster, they are more accurate now as well as affordable for a larger consumer base. In the medical field, microbiology has always been a branch of enthusiasm that has promised a lot as far as prevention, diagnosis, and treatment of infectious diseases is concerned. Bacteria, parasites, viruses, and fungi are four kind of microorganisms that cause infectious diseases, while microbiology also deals with clinical applications of microbes for health improvements. During the forecast period of 2017 to 2025, owing to its utter usefulness and recent technological advancements, the demand in the global microbiology testing market is expected to expand at a healthy rate.
Global Microbiology Testing Market: Key Trends
Apart from technological advancements that have significantly improved the efficiency of microbiology testing, introduction of new tests by some of the leading companies in the microbiology testing market are primed to positively influence the global demand. For example, Alere I aids medical professionals to detect and provide treatment for patients suffering from influenza, at a reduced cost. Consumers are now readily accepting microbiology testing as a result of its proven efficiency, and the shift from monoplex testing to multiplex testing is quite evident, which are two other important factors expected to favor the market in the near future.
Rising geriatric population who lack immunity and hence are more prone to infectious diseases, improving healthcare infrastructure across several emerging economies, rising disposable income among the consumers, and changing lifestyle with unhealthy eating are some of the other factors driving the global microbiology testing market. On the other hand, factors such as inadequate reimbursements, stringent government regulations, and intense competition among the vendors are expected to hinder the growth rate of microbiology testing market in the near future.
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Based on application, the microbiology testing market can be segmented into traditional testing, point-of-care (POC) testing, and molecular diagnostics, while product-wise, this market can be categorized into bacterial testing, fungal testing, and viral testing. Hospitals, diagnostic laboratories, and academic and research institutes are some of the end-use segments of the global microbiology testing market.
Global Microbiology Testing Market: Market Potential
Strategic initiatives to explore new possibilities with microbiology testing is opening new opportunities for the players in this market, besides growing demand for point-of-care (POC) diagnostics, increasing preference for advanced molecular diagnostics by the patients, and growing demand for automated microbiology analyzers.
Global Microbiology Testing Market: Regional Outlook
Currently, developed regions of North America and Europe serve the maximum demand for microbiology testing, although emerging economies in Asia Pacific such as China, India, and Japan are expected to turn into vast lucrative regional market in the near future. The extended demand from Asia Pacific is attributed to expanding research capabilities of countries such as Japan and India, improving healthcare infrastructure, and availability of skilled labor in this region.
Global Microbiology Testing Market: Competitive Landscape
Becton Dickinson & Company, Thermo Fisher Scientific, Bio-Rad Laboratories, bioMérieux, and Danaher are some of the leading companies in a fragment competitive landscape of global microbiology testing market. There are several small-size vendors who control niche local markets, and in this scenario, product bundling is turning into a profitable strategy for the leading companies. Some of the other key vendors in this market are Abbott Diagnostics, Alere, Alcon Laboratories, Biomerica, Chembio Diagnostic Systems, DiagCor, Alcon Laboratories, Diamedix, Epitope Diagnostics, Fujirebio Diagnostics, Helena Laboratories, Gold Standard Diagnostics, Grifols, Hologic, Immunetics, Humor Diagnostica, InBios International, Maxim Biomedical, Landwind Medical, Meridian Bioscience, Nipro Diagnostics, Qiagen, Randox Laboratories, Roche Diagnostics, and Siemens Healthcare.
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