Microbiology Testing Market worth $12,411.36 Million in 2019 - New Research Report by MarketsandMarkets

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Microbiology testing consists of a wide array of techniques for the detection of infectious diseases: http://www.marketsandmarkets.com/Market-Reports/microbiology-testing-market-219135367.html

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Key Platers are Abbott Laboratories, Inc. (U.S.), Alere, Inc. (U.S.), bioMérieux SA (France), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corporation (U.S.) Cepheid (U.S.), Danaher Corporation (U.S.)

Clinical microbiology is the branch of medicine concerned with the prevention, diagnosis and treatment of infections and communicable diseases. The number of infectious disease such as enterovirus, tuberculosis, cholera, measles, various strains of the flu and hepatitis outbreaks and the number of unique illnesses causing them around the globe are very high. According to Global Infectious Diseases and Epidemiology Network (GIDEON) between 1980 and 2013, 12,102 outbreaks of 215 infectious diseases occurred across the globe which involved 44 million cases in 219 countries. The problem of disease outbreaks is further compounded by increase in multidrug resistance diseases such as tuberculosis. According to WHO, in 2012 there were about 450,000 new cases of multi drug-resistant tuberculosis (MDR-TB). Extensively drug-resistant tuberculosis (XDR-TB) has been identified in 92 countries. Furthermore, outbreaks of new diseases such as Ebola will increase the disease burden of infectious diseases.

The global Clinical Microbiology Market is expected to reach $12,411.36 million in 2019 from $6,727.29 million in 2014, at a CAGR of 13.03% between 2014 and 2019.

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The geographic segments included in this report are Asia, Europe, North America and the Rest of the world. The Asian market is expected to grow at the highest CAGR during the forecast period and represents new revenue pockets for players in the global clinical microbiology market. According to estimates from the World Bank, the global healthcare spending increased at a CAGR of 7.45% from 2003 to 2012. Growths in the healthcare expenditures for the emerging economies of Asia and RoW are outpacing those of North America and Europe. The growth rates of the healthcare expenditures in Asia and RoW between 2003 and 2012 was 11.09% and 15.47% respectively. Rapid growth in the healthcare expenditure in these emerging geographies presents an important growth opportunity for the clinical microbiology products.

The respiratory diseases application segment accounted for the largest share of the clinical microbiology market in 2014 and is expected to grow at the highest CAGR between 2014 and 2019. Increasing prevalence of respiratory diseases is expected to drive the clinical microbiology market.

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