Laboratory Equipment Market Size

Laboratory Equipment Market Growth Projections and Opportunities

Microbiology testing has emerged as a dynamic and rapidly growing segment within the healthcare industry in recent years. This branch of testing revolves around the study of microbial germs and their clinical applications to enhance health. It is primarily focused on the diagnosis, prevention, and treatment of various infectious diseases, including respiratory infections, urinary tract infections, gastrointestinal infections, and sexually transmitted infections, among others. These diseases can be transmitted from one person to another, either directly or indirectly.
The global microbiology testing market is experiencing significant growth due to the increasing prevalence of infectious diseases. Microbiology testing plays a crucial role in addressing public health challenges, such as the emergence of new pathogens and the development of bacterial resistance. Various microorganisms, including fungi, bacteria, viruses, and parasites, contribute to infectious diseases, making the study of these microorganisms essential for developing effective solutions.

Microbiology testing aids in monitoring diseases, detecting risks, and determining appropriate treatments or therapies for patients. Over the past few decades, traditional microbiology testing practices have undergone rapid transformation. Factors such as changing disease patterns, a rising number of respiratory and sexually transmitted diseases, innovation, and new product development are driving the growth of the global microbiology testing market. The market is influenced by the introduction of new technologies, the increasing incidence of infectious diseases, the growing health-conscious population, and the expanding demand for laboratory testing.

The global microbiology testing market is segmented by product type into instruments, chemicals and reagents, consumables and accessories, and others. In 2016, chemicals and reagents accounted for the largest market share (38.1%), valued at USD 1030.4 million. This dominance is attributed to the growing demand for new chemicals and reagents to ensure accurate results in laboratories. Laboratory instruments, including equipment, microbiology analyzers, and dispensers, constituted 32.1% of the market share by product type. The consumables and accessories segment is projected to grow at a CAGR of 10.6% during the forecast period.

The North America region, with its developed healthcare infrastructure, substantial R&D funding, and numerous independent and hospital-based laboratories, held the largest market share in the global microbiology testing market. Key players in the industry, such as Alere, BD, Beckman Coulter, Inc., and Thermo Fisher Scientific Inc., operate from the North America region. However, government regulations and policies pose significant challenges to the global microbiology testing market.

Chemicals and reagents contribute 42.1% of the market share in the global microbiology testing market and play a vital role in simplifying the diagnosis for laboratory and medical professionals. These products enable customization of samples or media according to specific requirements.

In terms of application, respiratory infections captured the largest market share (50.6% in 2016) and continue to grow at a CAGR of 11.0%. The market for sexually transmitted infections is expected to grow at a CAGR of 10.6% during the forecast period.

Independent laboratories dominate the global microbiology market by end-user, comprising 63.0% of the market share in 2016. Their growth is attributed to reliability, fast service, and the adoption of innovative strategies to attract consumers. The market for independent laboratories is expected to grow at a CAGR of 10.6% during the forecast period.

The global microbiology testing market was valued at USD 5409.1 million in 2016 and is expected to grow at a CAGR of 10.4% during the forecast period. North America contributed 37.9% of the market share, followed by Europe with 33.9% in the global microbiology testing market.