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(Medical-NewsWire.com, November 24, 2021 ) According to the new market research report Clinical Microbiology Market is estimated to be USD 3.9 billion in 2020 and projected to reach USD 5.3 billion by 2025, at a CAGR of 6.5%.
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Factors such as the Technological advancements, rising incidence of infectious diseases and growing outbreak of epidemics (such as COVID-19), and increased funding and public-private investments are some of the key factors driving the growth of the microbiological testing/clinical microbiology market. However, unfavorable reimbursement scenarios in some countries are hampering the development of the Microbiology Testing Market.
Based on application, the nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The SPECT applications is further segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications. The thyroid applications segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing incidence and prevalence of thyroid disorders.
On the basis of type, the nuclear medicine market is segmented into diagnostic and therapeutic. The diagnostic segment accounted for a larger share of the market 2020. The large share of this segment can be attributed to the non-invasiveness, increasing prevalence of cardiovascular diseases and early diagnosis.
Opportunity: Improving healthcare infrastructure across emerging countries
Emerging markets are expected to offer significant growth opportunities to clinical microbiology product manufacturers and distributors during the forecast period. This can be attributed to the growing prevalence of infectious diseases such as HIV, tuberculosis, influenza, and malaria as well as increasing R&D initiatives to develop innovative genomic techniques for efficient disease diagnosis in developing nations.
The growth in these markets is further supported by improvements in healthcare infrastructure, growing healthcare expenditure, and increasing availability and affordability of low-cost clinical microbiology products. In line with the ongoing trend, several government initiatives have been undertaken across emerging markets (particularly in China and India) to strengthen and expand the healthcare infrastructure.
Challenge: Operational barriers related to the use of diagnostic tests
Diagnostic microbiology tests involve various types of patient samples, such as semen, saliva, tissue, blood, and urine. These diagnostic tests have limited utilization of automated instruments to directly diagnose common pathogens such as Plasmodium, Staphylococcus, and E. coli. Clinical laboratories must have proper logistic support for timely sample collection, efficient transportation, and safe and standardized sample processing to provide correct and accurate diagnostic results to patients. However, meeting optimal criteria for sample handling and transportation is a key challenge faced by a majority of clinical laboratories. For instance, in the case of preanalytical sample processing, the sample should be procured at room temperature and transported at fixed temperatures only. Additionally, clinical laboratories must verify separate preanalytical and analytical procedures for individual matrix type so as to get optimal and correct results.
In 2020, North America accounted for the largest share of the nuclear medicine market. A large share of North America can be attributed to the large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the region.
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The major players operating in the Microbiology Testing Market include bioMérieux SA (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche AG (Switzerland), Bruker Corporation (US), Hologic, Inc. (US), QIAGEN N.V. (The Netherlands), Thermo Fisher Scientific Inc. (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany), Shimadzu Corporation (Japan), 3M Company (US), and Neogen Corporation (US), among others.
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