The global clinical microbiology market is projected to reach USD 5.77 billion by 2021 from USD 3.35 billion in 2016, at a CAGR of 11.5 percent, estimates MarketsandMarkets. One of the primary drivers for this market is the exponential rise in technological advancements that make microbiology tests faster, cheaper, more accurate, and increases the usage of microbiology tests for the diagnosis of various diseases. Also, the introduction of new tests by vendors in the market is expected to drive the microbiology testing market further across the globe. Technological advancements coupled with high consumer acceptance will propel the global microbiology testing market over the next 5 years.
In terms of geography, Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The microbiology testing instruments market in the Americas is witnessing a steady growth, primarily because of the growing aging population and high prevalence of chronic and infectious diseases. This has raised the demand for diagnostic products and services in this region. Moreover, the increased awareness among the population in the Americas has resulted in people having regular tests and check-ups. These factors are contributing significantly and are expected to augment the growth of the microbiology testing market in the region.
The market is highly fragmented, especially in the consumables segment, with the presence of many vendors including niche vendors from across the globe. To gain a competitive advantage, vendors in the market are adopting the strategy of product bundling, which includes combining two or more products or services. The emerging countries represent huge opportunities for both global and local vendors alike.