Microbiology Testing Market is expected to reach USD 7,410.2 million in 2023, registering a CAGR of 9.4% during 2018-2023| Top Players - IO-RAD LABORATORIES Inc., ABBOTT LABORATORIES, BECTON DICKINSON, ALERE Inc., ROCHE HOLDING and CEPHEID Inc., amongst o

Market Analysis:

North America hold the major market
North America accounts for the highest share among the regions in the global microbiology testing market, due to the presence of a large number of market-focused key players in the region, who are providing wide product portfolios, as well as the demand for high-quality and standardized products and services, which are essential to keep up with the pressure of international standards.

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The healthcare spending is increasing day by day and has been maintaining a growing trend over the decades. However, there is a focus to replace the traditional methods and improve the automated testing by the increasing focus on the technological advances in microbiology testing methods and equipment, a major share of healthcare spending is going to be in this domain. Furthermore, the improving of the healthcare infrastructure across the emerging markets and growing market demand for advanced molecular diagnostic products also provide opportunities for the players in the microbiology market. The ability of molecular diagnostics to detect any disease at an initial stage of development is expected to create an opportunity for the industry participants to capitalize on in the coming years. Furthermore, the recent developments, which includes integration of diagnostic methods with advanced IT and data analytics to minimize the complexity of assays and further analysis, and the use of nanotechnology for developing the molecular diagnostic products is to increase the efficiency of diagnostic methods and results, are creating the wide range of opportunities in the industry.

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Market Segments
Microbiology Testing Market is segmented by:
1. APPLICATIONS: PHARMACEUTICAL APPLICATION, DIAGNOSTIC APPLICATION, FOOD & BEVERAGE TESTING APPLICATION, ENVIRONMENTAL APPLICATION, COSMETIC APPLICATION, OTHERS
2. PRODUCT: EQUIPMENT, REAGENT
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• January, 2017: Abbott completed the acquisition of St. Jude Medical, making the company a leader in in the medical device arena.
• June, 2017: Bio-Rad launched RT-PCR Assay Kit, for the detection of zika, dengue and chikungunya viruses
• March, 2017: Xpert MTB/RIF Ultra was launched by Cepheid, for better diagnosis of TB in children and people living with HIV.

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