Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.67 Billion | USD 15.16 Billion | 6.4% | 2023 |
According to a report from Zion Market Research, the global Clinical Microbiology Market was valued at USD 8.67 Billion in 2023 and is projected to hit USD 15.16 Billion by 2032, with a compound annual growth rate (CAGR) of 6.4% during the forecast period 2024-2032.
This report explores market strengths, weaknesses, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and prospects that may emerge in the Clinical Microbiology Market industry over the next decade.
Clinical microbiology is experiencing remarkable advances in deploying 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 have also been introduced in the clinical microbiology domain in recent years.
Apparently, quick detection of microorganisms in clinical microbiology laboratories 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 a skilled & technical workforce for processing as well as interpreting outcomes from clinical specimens.
The growing occurrence of contagious diseases and technological breakthroughs in disease diagnostics methods will steer the growth of the clinical microbiology industry over the forthcoming years. The need for quick diagnosis of infectious ailments will prompt market size. As per the Centers 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 the year 2014. Hence, a large occurrence of ailments requiring clinical tests are utilized as key diagnostics tools and this is likely to accentuate the growth of the clinical microbiology market in the 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.
The 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 the Asia Pacific zone. In addition to this, the easy availability of an adept workforce at minimal costs along with the presence of a robust manufacturing base in countries such as Japan and China will promulgate the expansion of the clinical microbiology industry in Asia Pacific over the 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. A rapid increase in the aging population in countries such as India, Japan, and China along with the rise in contagious diseases including tuberculosis, typhoid, hepatitis, and cholera will steer the expansion of the clinical microbiology industry in the years to come.
Report Attributes | Report Details |
---|---|
Report Name | Clinical Microbiology Market |
Market Size in 2023 | USD 8.67 Billion |
Market Forecast in 2032 | USD 15.16 Billion |
Growth Rate | CAGR of 6.4% |
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) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
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:
By Product
By Application
By Region
FrequentlyAsked Questions
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.
According to a study, the global Clinical Microbiology market size was worth around USD 8.67 billion in 2023 and is expected to reach USD 15.16 billion by 2032.
The global Clinical Microbiology market is expected to grow at a CAGR of 6.4% during the forecast period.
Asia Pacific is expected to dominate the Clinical Microbiology market over the forecast period.
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.
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