Microbiology Testing Market Forecast: USD 9.26 billion Valuation by 2030, Driven by Impressive CAGR of 9.1%

Industry Analysis

Microbiology testing is an analytical technique used to determine the microorganisms in numerous samples such as biological, food and beverage, and environmental samples. Microbiology testing uses numerous chemical, biological, molecular, and biochemical methods. It is majorly applied to disease-causing and spoilage microorganisms. Among all other tests, three are the most common: polymerase chain reaction testing, immunoassays, and culture media. Data Bridge Market Research analyses that the microbiology testing market, which was USD 4.61 billion in 2022, would rise to USD 9.26 billion by 2030 and is expected to undergo a CAGR of 9.1% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Microbiology Testing Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East & Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analysed based on the tools such as Porter's five forces analysis. The study throws light upon market attractiveness where all the segments are arranged based on the compound growth rate, size, and general attractiveness.

Global Microbiology Testing Market Dynamics
Drivers
• Growing Cases of STD
The huge increase in the STD rate demands rapid use of microbiology testing. According to the data published by the WHO, more than 1 million sexually transmitted infections are acquired worldwide each day; most of them will be asymptomatic in 2022. It also stated that there are around 374 million new infections yearly, with 1 out of 4 sexually transmitted infections such as chlamydia, trichomoniasis, gonorrhea, and syphilis. These diseases need immediate testing to identify the responsible virus for faster treatment processes. Thus, this factor boosts market growth.
• Increasing Strategic Product Launches Associated with Microbiology Testing
The growing incidence of infectious diseases and several strategies adopted by major market players, such as product launches and expansions of services, are anticipated to drive the growth of the microbiology testing market. For instance, STEMart launched microbiology and sterility testing for sterile and non-pyrogenic medical devices in 2022. Therefore, growing service launches by major market players are anticipated to improve market growth during the forecast period. Thus, this factor boosts market growth.
Opportunities
• Increasing Funding by Organizations
Increasing government and private funds for research and development boost the market's growth. For instance, the Department of Science and Technology (DST), India, announced funding of around USD 26.42 million to several scientific institutions, startups, and industries to develop new advanced innovative solutions to fight the COVID-19 pandemic in 2020. These solutions involve rapid and accurate diagnosis kits, protection equipment, and other necessary solutions. Thus, this factor boosts market growth.
• Growing Number of Collaborations between Market Players
Several market players collaborate with small companies to invest in their new innovative technologies and develop new infectious disease tests. For instance, CSL Behring, a U.S. biotherapeutics company, and South Dakota-based SAB Therapeutics collaborated with each other for clinical trials of its antibody-based treatment SAB-185 on COVID-19 patients. Thus, this type of collaboration enhances market growth.
Restraints/Challenges
• Limited Reimbursement in Developing Regions
In many countries, late reimbursement is a major barrier to market growth. Reimbursement for microbiology testing is a complex process. The reimbursement process's complexity is a major hindrance for this market. Furthermore, several countries' lack of standardized reimbursement policies impedes the market growth. Therefore, the lack of reimbursement in emerging nations hampers the market growth.
• Lack of Accuracy of Tests
It has been witnessed many times that testing kits and devices can show false-negative results. The microbial testing kits often lack accuracy due to improper sample loading and unloading. This lack of accuracy in microbiology testing is estimated to restrain the market's growth.
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