"Increasing incidence of infectious disease is expected to drive the market expansion over the forecast period"
The global clinical microbiology market was valued at USD 8.4 billion in 2015 and is projected to grow at a CAGR of 7.3% over the forecast period. The high growth would be attributed to increasing demand for laboratory services in order to detect pathogen-based diseases coupled with escalating need for control measures for infectious disease spread. In addition, growing geriatric population and constantly widening targeted disease conditions are some of the major factors augmenting the use of clinical microbiology.
In 2016, the U.S. FDA approved Cepheid, Inc.’s diagnostic assay, Xpert Carba-R. This assay is capable of identifying carbapenemase genes in bacterial culture. The increasing spread of class A carbapenemase is creating growth opportunities for players operating in the market.
Global Clinical Microbiology Market, 2014 - 2024 (USD Million)
"Reagents captured the largest revenue share among other product segments in 2015"
The market is witnessing rising investment in research and development. Almost all analytical and therapeutic research projects demand reagents and chemicals thus, the penetration of reagents is growing. In addition, repeat purchase of reagents results in more revenue generation for the segment compared to instrument. Thus, the reagent segment accounted for the largest market share of around 35% in 2015.
"Laboratory automation is expected to witness fastest growth over the forecast period"
Commercialization of research projects is increasing the overall sample processing volume in each project. As a result, demand for automated clinical systems is rapidly increasing to maintain the uniformity and to reduce the human errors associated with manual processing. Thus, the laboratory instrument segment is expected to grow with a CAGR of 8.5% from 2016 to 2024.
"Respiratory disease segment is anticipated to dominate the market throughout the forecast period"
Increasing levels of air pollution with industrialization is resulting in rapid escalation of respiratory disease prevalence. Also, amongst other infections, respiratory diseases spread rapidly owing to easy transfer of contagious pathogens. Thus, the respiratory disease segment is expected to show a significant growth of 8.51% over the forecast period. Furthermore, prevalence of infectious diseases is high in developed as well as developing countries.
"Presently, North America is the largest regional market for clinical microbiology and is followed by Europe."
In 2015, North America accounted for the maximum revenue share of 41% and was closely followed by Europe. Highly developed industrial and healthcare sectors in the U.S. are fueling the adoption of clinical microbial techniques in the country. In addition, stringent regulatory framework and presence of giant players in the country are augmenting the growth of the market in the country.
Asia Pacific is expected to be the fastest growing region with a CAGR of 9.3% from 2016 to 2024. Japan is one of the leading countries with strong technological development and higher usage of microbial testing for various applications. In addition, China is another significant space contributing to the growth of the Asia Pacific market.
Moreover, booming medical tourism industry in the region is expected to spur the demand for microbial diagnostic and monitoring tests in Asian countries namely, India, China, Thailand and Malaysia. Furthermore, skilled labor at affordable cost and advanced manufacturing infrastructure is resulting in shifting of manufacturing facilities of major pharmaceutical players to Asia. Thus, rapidly growing number of manufacturing facilities in the region is boosting the growth in the region.
"The global market is dominated by players such as bioMerieux SA, Cepheid, Inc., and Danaher Corporation"
Very few international players are competing with each other. bioMerieux S.A., Cepheid Inc., Danaher Corporation, and Bruker Corporation are some of the players that are leading the global market. These companies, due to high R&D expenditure and introducing automated laboratory systems have gained the advantage of being the first movers.
Moreover, with the entry of several new players such as Roche Diagnostics, Alere Inc., Becton Dickinson & Company, Hologic Inc., and others, the competition in the market is expected to intensify over the forecast period.
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