Microbiology Testing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Microbiology Testing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Microbiology Testing Market is expected to register a CAGR of 9.4% during the forecast period 2022-2027.

With the COVID-19 outbreak 2020, there is a surge in demand for diagnostic kits, assay reagents, equipment, and services has been observed. For instance, Thermo Fisher Scientific Inc., predicts COVID-19 testing could create a USD 750 million tailwind in its second-quarter filing. In the first quarter of 2020, its laboratory products and services segment revenue grew by 9% to USD 2.73 billion, compared with the revenue of USD 2.51 billion in the first quarter of 2019. Moreover, several policy changes were made owing to COVID-19. These new government policies in improving the diagnostic and testing processes will eventually lead to the growth of microbiology testing as it is an essential component in the testing of viruses.

The propelling factors for the growth of the microbiology testing market include technological advancements in microbiology testing, rising incidences of infectious diseases and outbreaks of epidemics such as COVID-19, growing healthcare expenditure, and rising private-public funding for research on infectious diseases.

Infectious diseases, such as HIV, human papillomavirus (HPV), and hepatitis B and C, are some forms of STDs that are severe and fatal, and thus the increasing incidences of such diseases are increasing the demand for the microbiology testing market. Increasing healthcare expenditure and the presence of better medical infrastructures, such as hospitals and clinical labs, are some other drivers augmenting the growth of the microbiology testing market.

Rapid growth observed in the geriatric population, increasing number of clinical researches in the field of clinical microbiology, rising incidences of infectious diseases, and increased funding, research grants, and public-private investments are some of the factors that are driving the microbiology testing market.

For instance,as per the report published by the World Health Organization in November 2021, reported that more than 1.0 million sexually transmitted infections are acquired globally and most of them are asymptomatic. It also reported that every year there are an estimated 374.0 million new infections with 1 out of 4 sexually transmitted infections such as gonorrhea, chlamydia, trichomoniasis, and syphilis.

Rapid technological advancements are also being witnessed across the world that are anticipated to drive the microbiology testing market in the upcoming years. There are emerging economies, such as India and China, which may offer new growth opportunities for the microbiology testing market over the forecast period.

The market players are adopting various strategies such as acquisitions, collaborations, partnerships, expansions to increase market share. For instance,In July 2020, bioMérieux SA launched BIOFIRE MYCOPLASMA, an innovative test for mycoplasma detection in pharmaceutical products used for biotherapeutics (antibodies, hormones, cell and gene therapies, etc.), the most vibrant sector in the pharmaceutical industry. Thus, the increasing burden of chronic and infectious diseases is expected to drive the growth of the microbiology testing market. However, factor such as laboratory reimbursement issues and high cost of microbiology instruments may impede the market growth in near future.

Key Market TrendsDiagnostics Segment is Expected to Hold Significant Market Share Over the Forecast Period

The diagnostics segment is expected to account for the largest share of the microbiology testing market. Some of the key factors driving the growth of this segment are the increasing prevalence of infectious diseases, improving healthcare expenditure and rising emphasis on effective and early disease diagnosis across major markets and the introduction of advanced, accurate, and rapid methods for faster clinical diagnosis.

Microbiological diagnosis of COVID-19 is mainly performed through nucleic acid amplification test (NAAT) and antigen test. Clinical microbiology laboratories have been overwhelmed with the COVID-19 pandemic for disease diagnosis. Regardless of the absolute percentage of acute or secondary bacterial infections, specimens from COVID-19 patients will continue to be submitted to microbiology laboratory for processing and analysis for pathogens which shows positive impact on the market growth.

According to a research study by Joseph M Blondeau et al., published in Future Medicine Journal November 2020, clinical microbiology laboratories performing COVID-19 tests will face tremendous pressures in the coming months. STAT COVID-19 testing requests on inpatients (including patients in the emergency room) may become a more frequent request 24 hours a day.

Furthermore, in 2020, the COVID-19 outbreak caused due to severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) is affecting millions of people globally. According to the World Health Organization (WHO), as of 22nd June 2021, globally, there were around 178,503,429 confirmed cases of COVID-19, including 3,872,457 deaths due to COVID-19. Thus, pandemic impelled the diagnostic industry into action, which will boost the segment growth.

Thus, owing to the above mentioned factors, it is likley to drive the segment growth over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

Some of the factors that are driving the market growth in the North American region include better healthcare infrastructure, the rising burden of infectious diseases and outbreaks of epidemics, technological advancements in microbiology testing, and the presence of key market players in the country.

In the North American region, the COVID-19 pandemic highlighted the need for disease diagnosis and research organizations to collaborate with the government to develop new diagnostics tools in order to meet future health crises. In addition, the United States is the most COVID-affected country in the world. Thus, the demand for COVID-19 diagnosis is significantly high which shows a positive impact on market growth.

As per the report published by the Centers for Disease Control and Prevention in April 2022, around 677,769 cases of gonorrhea were reported. Gonorrhea also emerged as the second most common noticeable sexually transmitted infection in the United States.

The market players are adopting various strategies such as product launches, developments, acquisitions, collaborations, partnerships, and expansions to increase market share. For instance, In March 2022 Bureau Veritas launched a microbiology laboratory which will offer rapid pathogen testing for E.coli,Listeria, Salmonellas, yeast and Mold in Canada. Thus, rising prevalence of infectious diseases and presence of better healthcare infrastructure are the major factors driving the growth of the market, in the North America region.

Competitive Landscape

The Microbiology Testing Market is moderately competitive. The companies has witnessed new product launches, mergers and acquisitions, partnerships, joint ventures, and strategies adopted by the major players to gain competitive advantage. The companies are also introducing advanced microbiological automated systems that have high throughputs and are less time-consuming.

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