The global clinical microbiology market size is projected to reach USD 5.3 billion by 2025 from USD 3.9 billion in 2020, at a CAGR of 6.5%
Factors such as the technological advancements in the market are propelling the growth of the clinical microbiology market. Additionally, rising inclination epidemics like COVID-19 and investments from private and public sectors affect the growth of clinical microbiology market.
New York, Oct. 21, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Clinical Microbiology Market by Application, Disease, Product, End User – Global Forecast to 2025” – https://www.reportlinker.com/p03887589/?utm_source=GNW
However, unfavorable reimbursement scenarios in some countries is hampering the growth of this market.
The recent COVID-19 global pandemic has also impacted the clinical microbiology market.Demand from the main end-users has declined as key regions, and countries have imposed social distancing rules and lockdowns.
This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
The reagent segment to witness the highest growth rate in the clinical microbiology market, by product, during the forecast period.
The reagent segment is expected to witness the highest growth rate during the forecast period. The high growth in this owes to the high prevalence of infectious diseases across major markets (resulting in a growing number of clinical diagnostic procedures), the increasing trend of reagent rental agreements along with instrument sales, and a rising number of life science researches in the field of specific reagents for targeted infectious disease diagnosis and treatment, especially across emerging countries.
The respiratory diseases accounted for the largest share of the clinical microbiology market, by diseases, in 2019.
The respiratory diseases segment accounted for the largest share of the clinical microbiology market in 2019.This segment is also estimated to register the highest CAGR during the forecast period.
The large share and high growth rate of this segment can be attributed to factors such as the large patient population suffering from respiratory diseases, rising prevalence of target respiratory diseases (such as TB, asthma, COPD, and bronchitis) across developing countries, and growth in the number of epidemic outbreaks of respiratory infections.
The hospitals & diagnostics centers segment accounted for the largest share of the clinical microbiology, by end-users, in 2019
The hospitals and diagnostic centers segment accounted for the largest market share in 2019. The large share of this segment is attributed to the high incidence of target diseases (such as tuberculosis, HIV-AIDS, malaria, and epidemic diseases), availability of technologically advanced products (such as molecular diagnostic products and PCR and NGS-based instruments) for infectious disease diagnosis, growing awareness among doctors and clinicians regarding the advantages offered by molecular diagnostic products for fast and effective disease diagnosis, and ongoing expansion of healthcare infrastructure across emerging countries.
The Asia Pacific market to grow at the highest CAGR during the forecast period.
The clinical microbiology market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Government efforts to increase awareness related to genome-based infectious disease diagnosis, supportive regulations for the development and commercialization of advanced clinical microbiology products, rising healthcare expenditure, an increasing number of hospitals and