The Microbiology Market size was USD 2.06 billion in 2021 and is expected to register a revenue CAGR of 5.0% over the forecast period, according to the latest report by Reports and Data. Increasing mortality rate and morbidity rate of viral diseases, such as rotaviral diarrhea, flaviviral dengue, hantaviral pulmonary syndrome, herpes, Middle East Respiratory Syndrome (MERS), and others, is a major factor driving market revenue growth. With an increase in their rates of infectivity, the need for production of more volumes of vials of anti-viral vaccines is necessary to develop. Several leading vaccine development companies are investing in Research Development (RD) of drug discovery. According to World Health Organization (WHO), there are over 25 million outpatient visits and over 2 million yearly hospitalizations owing to rotaviral infection. Dengue infections are also affecting 100 to 400 million people every year and advanced stage of dengue, which develops a disease called dengue hemorrhagic fever, has a mortality rate of 20%.
The global Microbiology market has seen numerous investment opportunities as a result of the 2022 monkeypox virus outbreak. Although the outbreak mostly afflicted West Africa, the virus is predicted to spread in non-endemic areas as well, according to WHO. This offers a sizeable opportunity for the development of anti-monkey pox viral candidates, which is anticipated to fuel market revenue growth in the worldwide Microbiology sector. There are about 300 cases of hantaviral infection in the United States alone, with a mortality rate of up to 60%. In addition, the Microbiology industry is experiencing significant revenue growth due to the quick technological advances and global RD spending. The government of Alberta gave a grant worth $55.1 million in 2021 to create pipelines for vaccinations and medications developed in Alberta.
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Some Key Highlights From the Report
- The antiviral-drug segment accounted for largest revenue share in 2021. Rising demand for anti-viral drugs is attributed to growing number of grants funded by various governmental and non-governmental sources, which are targeted at drug discovery research as well as drug manufacturing domain.
- The hospital segment accounted for largest revenue share in 2021. Increasing cases of COVID-19 cases have generated a significant demand for COVID-19 detection kits and vaccines, which are majorly conducted in hospitals. Different vaccination drives are also conducted in various government and non-government hospitals, which drives revenue growth for the Microbiology market.
- The polymerase chain reaction-based approaches segment accounted for largest revenue share in 2021. With increasing infectivity of COVID-19, there is an increasing demand for taking RT-PCR tests, which is largely attributed to various COVID-19 awareness campaigns.
- The North America market accounted for largest revenue share in 2021. Rising number of cases of COVID-19 in the U.S. is a significant factor that has generated demand for increased number of doses of vaccines and advanced diagnostic solutions to treat chronic and acute viral conditions. According to World Health Organization, there have been over 92 million confirmed cases of COVID-19, from January 2020 to August 2022 and 598 million doses of COVID-19 vaccines have been administered in the U.S., as of August 2022. Another factor driving the Microbiology market is increasing funding for Microbiology research and increasing number of Microbiology products launched.
Competitive Outlook of the Global Microbiology Market
The globla Microbiology market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Microbiology market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
BioNTech SE, Novartis AG, GSK plc., Merck Co., Inc., Pfizer Inc., Moderna, Inc., Johnson Johnson services Inc., AstraZeneca, F. Hoffmann-La Roche Ltd, Boehringer Ingelheim International GmbH, and Shanghai Fosun Pharmaceutical（Group.
Microbiology Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Anti-viral Drugs
- Anti-viral Chemotherapy
- Interferons
- Medical Instruments
- Others
Molecular Diagnostic Method Outlook (Revenue, USD Billion; 2019-2030)
- Polymerase Chain Reaction (PCR) based approaches
- In-vitro Studies
- In-vivo Studies
- Next Generation Sequencing
- Mass Spectrometry-based Analysis
- Others
End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Molecular Diagnostic Laboratories
- Others
Geographic Segment Covered in the Report:
The Microbiology report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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