Northrook, IL -- (SBWIRE) -- 02/27/2020 -- The technological advancements in disease diagnostics, rising incidence of infectious diseases and growing outbreak of epidemics, and increased funding and public-private investments in the field of disease diagnosis are the key factors driving the growth of this market.

The Global Clinical Microbiology Market is expected to reach USD 4.95 billion by 2023 from USD 3.63 billion in 2018, growing at a CAGR of 6.4%.

The instruments segment was the largest contributor to the clinical microbiology market in 2017.

On the basis of products, the market is categorized into instruments (laboratory instruments and microbiology analyzers) and reagents (pathogen-specific kits and general reagents). The instruments segment is expected to account for the largest share of the global clinical microbiology market in 2018.

Factors such as the significant adoption of conventional laboratory instruments among end users, technological advancements in the field of molecular techniques & proteomics (such as the integration of microfluidics with PCR and nanotechnology with qPCR techniques), and the ongoing trend of laboratory automation among clinical laboratories, are propelling growth in this segment.

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Respiratory disease segment is expected to grow at the highest rate during the forecast period.

On the basis of disease area, the clinical microbiology market is segmented into respiratory diseases, bloodstream infections (BSIs), gastrointestinal (GI) diseases, sexually transmitted diseases (STDs), urinary tract infections (UTIs), periodontal diseases, and other diseases (including cardiovascular disease, central nervous system infections, connective tissue & joint diseases, and skin diseases).

The respiratory disease segment is estimated to witness the highest growth during the forecast period, primarily due to as the large patient population suffering from respiratory diseases (coupled with the growing exposure to key risk factors such as pollution) and the increasing number of epidemic outbreaks of respiratory infections.

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Geographically, this market is classified into North America, Europe, Asia Pacific, and RoW. In 2018, the global clinical microbiology market is expected to be dominated by North America. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period owing to the government efforts to increase awareness related to genome-based infectious disease diagnosis; rising healthcare expenditure; increasing number of hospitals and clinical diagnostic laboratories in India and China; expanding research base across India, China, and Japan; and the increasing incidence of infectious diseases.

Leading Companies

bioMrieux 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.