CLINICAL MICROBIOLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Clinical Microbiology Market Size and Trends

Global clinical microbiology market is estimated to be valued at USD 4.98 Bn in 2024 and is expected to reach USD 7.19 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

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Global clinical microbiology market is expected to witness positive growth during the forecast period, owing to factors such as  increasing prevalence of infectious diseases, growing awareness regarding diagnosis of infections, technological advancements in diagnostic techniques, and rising healthcare expenditure. Ongoing research and development activities for developing advanced microbiology-based diagnostic techniques and untapped emerging markets offering huge growth opportunities are expected to propel the market growth.

Increasing Product Launches by Key Market Players

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the market growth over the forecast period. For instance, in October 2021, PRIORCLAVE LTD., a medical equipment company, launched New Autoclave Groups at Medica 2021. There are three core research grade laboratory autoclave groups and within each group there are several models, each offering more features and benefits than previously available standards. Priorclave’s BASE range covers “the basics”: media preparation, waste loads, and sterilizing loose instruments, open containers, and labware.

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Global clinical microbiology market growth is driven by rising prevalence of infectious diseases worldwide. Infectious diseases continue to pose a major threat to public health in both developing and developed countries. Several factors such as increasing antimicrobial resistance, aging population, lifestyle changes, environmental degradation, and international travel contributes to the spread of both common and emerging infectious pathogens. Many developing nations across Asia Pacific and Africa are witnessing a growing burden of infectious illnesses like tuberculosis, malaria, dengue, hepatitis, HIV/AIDS, and others. Changes in climate and environmental conditions Diagnosis of infectious diseases therefore assumes great importance from a public health perspective. Rising disease incidence will correspondingly drive more testing volume and demand for advanced diagnostic techniques across various healthcare settings.