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Clinical Microbiology Global Market 2024 - Industry Trends, Share, Size, Growth, Opportunity And Forecast 2033
Clinical Microbiology Global Market
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According to The Business Research Company's, The clinical microbiology market size has grown strongly in recent years. It will grow from $6.46 billion in 2023 to $6.9 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rise of antimicrobial resistance, infectious disease outbreaks, globalization and travel, aging population, increased healthcare expenditure.
The clinical microbiology market size is expected to see strong growth in the next few years. It will grow to $9.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to demand for rapid results, focus on personalized treatments, increasing demand for surveillance , emphasis on healthcare-associated infections, integration of point-of-care testing . Major trends in the forecast period include omics technology integration, collaborative innovation, healthcare-associated infections awareness, regulatory influence , technological advancements.
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Market Drivers and Trends:
Increasing funding of public and private investments in clinical diagnostics is expected to propel the growth of the clinical microbiology market going forward. The increasing funding from both public and private sources serves as a catalyst for advancements, innovations, and improvements in the clinical microbiology market. These investments contribute to the overall effectiveness of diagnostic tools, laboratory capabilities, and public health responses to infectious diseases. For instance, in February 2023, the UK government has pledged to increased investment, targeting in particular the bodies that can approve medical devices and ensure their conformity with new regulatory requirements. For instance, in 2023, according to MedTech news, a publisher of new related to medical technology, private equity industry invested $111.8 B (c.$ 151 B) in healthTech industry. Furthermore, globally 96 deals valued at $40.8 billion were completed in medTech vertical. Therefore, increasing funding of public and private investments in clinical diagnostics is driving the growth of the clinical microbiology market.
Technological advancement is a key trend in the clinical microbiology market. Major companies operating in the clinical microbiology market are focused on research and development for technological innovations, like proteomic fingerprinting for medical diagnosis, to strengthen their position in the market. For instance, in July 2021, Bruker, a German-based company operating in clinical microbiology, introduced its advanced diagnostic product integrated with proteomic fingerprinting known as the MALDI Biotyper Sirius system. The MALDI Biotyper Sirius system provides rapid, nearly universal, and cost-effective microbial identification with antibiotic resistance testing and comprehensive mycobacteria analysis after culture.
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Major Key Players of the Market:
bioMérieux SA, Danaher Corporation, BD, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Corporation, QIAGEN NV, 3M, Bio-Rad Laboratories Inc., Bruker Corporation, Hologic Inc., Agilent Technologies Inc., Merck Group, Shimadzu Corporation, Neogen Corporation, Vacutest Kima SRL, Arrow Diagnostics SRL, OpGen, Becton Dickinson and Company, Johnson & Johnson, Sanofi SA, Illumina Inc., Medtronic, Cepheid Inc., Quidel Corporation, Luminex Corporation, DiaSorin S.p.A., GenMark Diagnostics Inc., T2 Biosystems Inc., Nanosphere Health Sciences Inc.
Clinical Microbiology Market 2024 Key Insights:
• The clinical microbiology market size is expected to see strong growth in the next few years. It will grow to $9.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• The Surging Clinical Microbiology Market Amidst Escalating Incidence Of Infectious Diseases
• Advancements In Clinical Microbiology Propel Innovation With Bruker's Maldi Biotyper Sirius System
• North America was the largest region in the clinical microbiology market in 2023
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