According to research report the 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% during forecast period.
Growth
in clinical microbiology market can be attributed to factors such as
rising incidence of infectious diseases and growing outbreak of
epidemics and increased funding and public-private investments.
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Market Size Estimation
A
detailed market estimation approach was followed to estimate and
validate the size of the clinical microbiology market and other
dependent submarkets, as mentioned above. The key players in the
clinical microbiology market were identified through secondary research,
and their market shares in the respective regions were determined
through primary and secondary research. Research methodology includes
the study of the annual and quarterly financial reports of the top
market players as well as interviews with industry experts for key
insights (both quantitative and qualitative trends) on the clinical
microbiology market. All percentage shares, splits, and breakdowns were
determined by using secondary sources and verified through primary
sources.
The global clinical microbiology market is segmented by product, disease area, end user, and region. On the basis of products, the clinical microbiology market is segmented into instruments, and reagents.
estimate the market size includes the following:
• The key players in the industry and markets have been identified through extensive secondary research.
•
The industry’s supply chain and market size, in terms of value, have
been determined through primary and secondary research processes.
•
All percentage shares, splits, and breakdowns have been determined using
secondary sources and verified through primary sources.
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Geographically, Asia Pacific market is expected to grow at the highest CAGR from 2018 to 2023. Key factors driving the growth of the market in APAC are the growing number of hospitals and clinical diagnostic laboratories in developing APAC countries; expanding research capabilities for the development of innovative and affordable clinical microbiology testing procedures across India, China, and Japan; and the rising incidence of infectious diseases in the region.
