China and India are Fastest Growing Clinical Microbiology Markets
New market report on clinical microbiology from Markets and Markets indicates that the global clinical microbiology market is expected to reach USD 5.77 billion by 2021 up from USD 3.35 billion in 2016, at a CAGR of 11.5%, during 2016 to 2021.
Key points are:
- Instruments segment is expected to account for the larger share of the global clinical microbiology market in 2016. However, reagents segment is projected to grow faster than the instruments segment, growing at a double-digit CAGR during 2016–2021. Growth in the reagents segment is mainly driven by growing trend of reagent rental agreements (along with instrument sales) by prominent reagent manufacturers, rising private-public funding for researches on specific infectious diseases, increasing market availability of pathogen-specific kits across the globe, and growing demand for specific clinical microbiology reagents during epidemic outbreaks.
- Key market drivers are technological advancements; rising incidence of infectious diseases and growing outbreak of epidemics; growing healthcare expenditure across the world; and increasing funding, research grants, and public-private investments in the field of life science researches. Furthermore, improving healthcare infrastructure across the emerging markets and growing market demand for advanced molecular diagnostic products provide opportunities for players in the clinical microbiology market.
- In 2016, North America and Europe are expected to be the mature markets for clinical microbiology products. However, emerging regions such as Asia-Pacific (including Japan, China, and India) are expected to become the new revenue-generating pockets in the clinical microbiology market in the next five years.
Read full summary of the report here - www.marketsandmarkets.com/Market-Reports/microbiology-testing-market-219135367.html
Tags: Market Reports
Date Published: June 7, 2016
Source article link: Markets and Markets » company contact details