Microbiology focus on the study of microorganisms and Virology, the study of viruses, is a considered part of microbiology.
The Centers for Medicare & Medicaid Services (CMS) has estimated that healthcare spending in the U.S. is expected to grow from $2.7 trillion in 2011 to about $4.6 trillion in 2018, at a CAGR of 6.8% for the same period. Similarly, in emerging countries, awareness and an increasing middle-class population, with a more disposable income to spend on healthcare, will be a driving force for the growth of this market.
The report "Global Microbiology Market forecast for 2018" analyzes the market by segments such as instruments and reagents. These two segments experienced a positive growth till 2013, with a market value of $3.55 billion, comprising of $2.99 billion for reagents and $0.55 billion for instruments. It is expected to grow at a CAGR of 6.2%.
The Americas commanded the largest share of 42% in the global microbiology market at $1485.02 million in 2013, and is expected to reach $1932.8 million by 2018, at a CAGR of 5.6% from 2013 to 2018. The U.S. commanded the largest share of 89% in the American microbiology IVD market at $1320.4 million in 2012, and is expected to reach $1715.6 million by 2017, at a CAGR of 5.6% from 2013 to 2018.
Europe holds the second-largest market position. Germany commanded the largest share of 20% at $223.7 million in 2013, and is expected to reach $272.5 million by 2018, at a CAGR of 4.2% from 2013 to 2018.
China commanded the largest share of 53% at $177.1 million in 2013 in the Asian microbiology market, and is expected to reach $334.5 million by 2018, at a CAGR of 14.2% from 2013 to 2018.
The report also provides an extensive competitive landscaping of companies operating in this market. The leading players in the microbiology market are bioMerieux SA (France), Becton Dickinson and company (U.S.), and Siemens (Germany). Segment and country-specific company shares, news & deals, mergers and acquisitions, segment specific pipeline products, product approvals, and product recalls of the major companies have been detailed in this report.
Virology Market has been segmented by the diagnostic test, end users, application used and Geographical Region. Immunoprophylaxis therapy and antiviral drugs are the fastest growing market segments in the estimated forecast period.
North America is the largest virology market which is led by the U.S. owing to technological advancements such as the increase rapid, portable diagnostics.
Europe is estimated to maintain the position as the second largest market globally during the forecast period which is credited to enhanced healthcare infrastructure, facilitated to diagnostics, and growing affordability of diagnostic tests for viral diseases.
APEJ and Africa are anticipated to witness the most promising growth opportunities during the forecast period. China is leading APEJ market. India holds considerable revenue share of the APEJ virology market.