Microbiology Testing Market Size

Microbiology Testing Market Analysis

The Microbiology Testing Market size is estimated at USD 5.65 billion in 2024, and is expected to reach USD 8.78 billion by 2029, growing at a CAGR of 9.22% during the forecast period (2024-2029).

With the COVID-19 outbreak, there was a surge in demand for COVID-19-related diagnostic kits, assay reagents, equipment, and services initially, which had a significant impact on microbiology testing services. For instance, according to an article published by PubMed Central in September 2022, during the pandemic in early 2020, many clinical microbiology laboratories experienced backorders and supply chain issues for many routine tests and associated testing supplies, such as swabs, transport media, and extraction reagents. Laboratories experienced staffing shortages as more trained technologists were needed to meet the demand for continuous SARS-CoV-2 testing and staffing was also limited to reduce exposure risk or for quarantine. So, the COVID-19 pandemic had a significant impact on the market initially, however, currently as the pandemic has subsided and fewer people are getting infected with the virus, fewer diagnostic tests are needed for COVID-19. Moreover, the diagnosis of other diseases has increased and hence, the studied market has started to gain traction and it is expected to have stable growth during the forecast period of the study.

The propelling factors for the growth of the microbiology testing market include technological advancements in microbiology testing, rising incidences of infectious diseases, 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. For instance, according to an article published by the virology journal in September 2022, human papillomavirus (HPV) is considered one of the most commonly encountered sexually transmitted infections, which is responsible for causing cervical cancer and other cancers including vaginal, vulvar, anal, penile, and oropharyngeal cancer. More than 200 HPV genotypes have been identified, and they can be classified into high-risk (HR) and low-risk HPV (LR) genotypes based on their carcinogenicity. Furthermore, 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.

Additionally, as per the data published by the WHO in August 2022, more than 1 million sexually transmitted infections are acquired globally every day and most of them are asymptomatic. It also reported that every year there are an estimated 374 million new infections with 1 out of 4 sexually transmitted infections such as gonorrhea, chlamydia, trichomoniasis, and syphilis.

The market players are adopting various strategies such as acquisitions, collaborations, partnerships, and expansions of services to increase market share. For instance, in June 2022, STEMart launched microbiology and sterility testing for sterile and non-pyrogenic medical devices. Hence, increasing service launches by key market players are expected to enhance the market growth during the forecast period of the study.

Thus, the factors such as increasing incidence of infectious diseases and various strategies adopted by market players such as acquisitions, collaborations, partnerships, and expansions of services are expected to drive the growth of the microbiology testing market. However, factors such as laboratory reimbursement issues and the high cost of microbiology instruments may impede market growth in the near future.