The global Microbiology Laboratory market is expected to reach USD 394.29 Billion in 2028 and register a steady revenue CAGR of 6.2% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are growing prevalence of chronic diseases, rising demand for automated solutions in clinical workflow, and introduction of various advanced products such as microarrays and biochips. 

A Microbiology Laboratory is a medical facility where various tests are carried out by trained healthcare professionals on biological specimens to obtain accurate information about overall health conditions. Various testing services such as immunology testing, pathology services, genetic testing, toxicology testing, drug of abuse testing are carried out on biological specimens such as blood, urine, feces, organ tissue. Clinical laboratories are rapidly gaining traction owing to rising prevalence of various chronic diseases such as diabetes, cancer, cardiovascular diseases, genetic disorders, neurological diseases, and increasing geriatric population. These laboratories vary in size and are commonly situated within or near clinics and hospitals to provide easy access to patients as well as physicians. Key factors such as increasing healthcare spending, rising demand for automated systems, and increasing investments in developing cost-effective and innovative diagnostic products are fueling global market growth.

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Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth

Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.

Some key highlights from the report:

  • Based on test, the Microbiology Laboratory segment is expected to account for largest revenue share between 2021 and 2028. Factors such as high patient pool, increasing cases of chronic illnesses and infections, high adoption of latest diagnostic procedures, and rising demand for automated solutions for accurate diagnosis and treatment are driving revenue growth of the segment. 
  • Based on service providers, the independent and reference laboratories segment is expected to register steady revenue CAGR over the forecast period owing to factors such as increasing funds by various private organizations, increasing prevalence of various diseases and infections, and increasing awareness about early diagnosis. Most independent and reference laboratories are equipped with latest medical devices that offer precise and efficient detection. 
  • The Microbiology Laboratory market in North America is expected to account for largest revenue share during the forecast period owing to rising incidence of various chronic illnesses, presence of well-developed healthcare infrastructure and highly skilled healthcare professionals, and availability of funds by public-private sectors. In addition, growing elderly population, increasing number of testing, and availability of latest diagnostic equipment are other factors are expected to fuel North America market growth during the forecast period.
  • Asia Pacific market is expected to register rapid revenue CAGR between 2021 and 2028 owing to increasing incidence of genetic disorders, diabetes, cardiovascular diseases, rising investments in developing advanced devices for diagnostic purposes, growing geriatric population, increasing public awareness about early detection and treatment, and favorable government initiatives. 

Top Players in the Global Microbiology Laboratory Market:

Quest Diagnostics, Inc., OPKO Health, Inc., Abbott Laboratories, Charles River Laboratories, International, Inc., Cinven, Arup Laboratories, Sonic Healthcare, Laboratory Corporation of America Holdings (LabCorp), NeoGenomics Laboratories, Inc., Fresenius Medical Care, DaVita, Inc., Siemens Healthcare GmbH, Viapath Group LLP, SGS SA, Almac Diagnostic Services, Myriad Genetics, Inc., Spectra Laboratories, SYNLAB International GMBH, Cerba Healthcare, and Unilabs

The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.  

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Microbiology Laboratory Market Segmentation:

Type Outlook (Revenue, USD Billion, 2018-2028)

  • Microbiology Laboratory
  • Microbiology Laboratory
  • Microbiology Laboratory

Test Type Outlook (Revenue, USD Billion, 2018-2028)

  • Clinical Chemistry Testing
  • Microbiology Testing
  • Hematology Testing
  • Immunology Testing
  • Cytology Testing
  • Genetic Testing
  • Drug of Abuse Testing

Service Provider Outlook (Revenue, USD Billion, 2018-2028)

  • Independent and Reference Laboratories
  • Hospital-based Laboratories
  • Nursing and Physician Office-based Laboratories
  • Others

 

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Frequently Asked Questions Answered in the Report:

  • What is the estimated revenue growth rate of the global Microbiology Laboratory Market over the forecast period?
  • What are the major factors driving the global market revenue growth?
  • Which are the leading manufacturers and suppliers in the global Microbiology Laboratory Market?
  • Which regional market is expected to lead in terms of revenue share in the global Microbiology Laboratory Market over the forecast years?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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