Market Trends of Microbiology Testing Industry
This section covers the major market trends shaping the Microbiology Testing Market according to our research experts:
Diagnostics Segment is Expected to Hold Significant Share Over the Forecast Period
The diagnostics segment is expected to hold a significant share of the microbiology testing market. Some of the key factors driving the growth of this segment are the increasing prevalence of infectious diseases, improving healthcare expenditure and rising emphasis on effective and early disease diagnosis across major markets, and the introduction of advanced, accurate, and rapid methods for faster clinical diagnosis.
For instance, according to an article published by NCBI in October 2022, antimicrobial susceptibility testing is very useful in patient management as it helps in the identification of the specific diagnosis, and additionally, it targets the particular etiologic agent causing the disease. As no two patients can be managed similarly, especially if they have the same disease manifestation but the causative organism can have different resistance patterns, in such cases antimicrobial susceptibility testing helps in determining whether a particular drug is going to work for that causative agent or not. Furthermore, according to the data by UNAIDS in 2022, an estimated 38.4 million people globally were living with HIV in 2021 and 1.5 million people became newly infected with HIV in 2021. Hence, the increasing adoption of microbiological testing methods for various diagnostic purposes and the increasing prevalence of various diseases is expected to enhance the segment growth.
Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in July 2021, Bruker launched new microbiology products and workflows for microbial identification and infection control. It includes products such as MBT Lipid Xtract kit which expands the research capabilities even beyond rapid microbial identification.
Thus, factors such as increasing prevalence of infectious diseases such as HIV and continuous product launches for diagnosis of the disease by market players are likely to drive the segment growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
Some of the factors that are driving the market growth in the North American region include better healthcare infrastructure, the rising burden of infectious diseases and outbreaks of epidemics, technological advancements in microbiology testing, and the presence of key market players in the country.
Well-established healthcare infrastructure and increasing healthcare spending are two of the key factors for the growth of the market in the region. For instance, according to the data by NIH in May 2022, the funding for antimicrobial resistance research is estimated to increase from USD 656 million in 2021 to USD 665 million in 2022. Such increasing investment in research by the government is propelling the growth of the market in the region.
Furthermore, the rising prevalence of infectious diseases in the region is also boosting the market growth. For instance, according to the data published by CDC in June 2022, it is estimated that in the most recent five years, approximately 14,000 to 25,000 cases of invasive group A strep disease occurred each year in the United States. Furthermore, as per the report published by the Centers for Disease Control and Prevention in April 2022, around 677,769 cases of gonorrhea were reported in 2020. Gonorrhea also emerged as the second most common noticeable sexually transmitted infection in the United States. Hence, the increasing prevalence of infectious diseases is expected to enhance the market growth.
The market players are adopting various strategies such as product launches, developments, acquisitions, collaborations, partnerships, and expansions to increase market share. For instance, in March 2022 Bureau Veritas launched a microbiology laboratory that will offer rapid pathogen testing for E.coli, Listeria, Salmonellas, yeast, and Mold in Canada. Such establishment of the facilities is expected to increase the accessibility of testing and thus expected to propel the growth of the market in the region.
Thus, the rising prevalence of infectious diseases and the presence of better healthcare infrastructure are the major factors driving the growth of the market, in the North America region.
