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Increasing Seaborne Trade Across The Globe To Propel Port Equipment Market

The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
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Clinical Microbiology Market Is Projected To Reach 4.9 billion USD by 2023

The global clinical microbiology market size is projected to register a CAGR of 6.4%, growing from USD 3.63 billion in 2018 to USD 4.95 billion in 2023. The technological advancements in the disease diagnostics, rising incidence of infectious diseases and growing outbreak of epidemics, and increased funding and public-private investments in the field of disease diagnosis are the key factors driving the growth of the clinical microbiology market during the forecast period.



Strategic analysis of the market developments between 2014 and 2018 revealed that growth strategies such as product launches and enhancements; acquisitions; agreements, partnerships, collaboration; and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the clinical microbiology market. Among these business strategies, product launches & enhancements and partnerships & collaborations were the two most widely adopted growth strategies.

bioMérieux S.A. (France) held the leading position in the global clinical microbiology market in 2017. The company has a robust product portfolio and a strong geographical presence in more than 150 countries across the world. To maintain its leadership position in the market, the company has been focusing on R&D activities and product launches. In 2017, the company invested ~13% of its revenue in R&D activities, with the aim to improve product quality, accuracy, and reduce the overall throughput time required for a test.


The reagents product segment is further subsegmented into pathogen-specific kits and general reagents. The pathogen-specific kits segment is expected to grow at higher CAGR during the forecast period. The growth of this segment is attributed to factors such as the flexibility pathogen-specific kits offer end users to optimize the reaction for better results and increasing patient preference across major countries for early and accurate disease diagnosis (including pathogen detection).

On the basis of disease area, the clinical microbiology market is segmented into respiratory diseases, bloodstream infections (BSIs), gastrointestinal (GI) diseases, sexually transmitted diseases (STDs), urinary tract infections (UTIs), periodontal diseases, and other diseases (including cardiovascular disease, central nervous system infections, connective tissue & joint diseases, and skin diseases, among others). The significant growth potential offered by the respiratory diseases segment is attributed to factors such as the large patient population suffering from respiratory diseases, rising prevalence of target respiratory diseases (including TB, asthma, COPD, and bronchitis) across developing countries, and increasing number of epidemic outbreaks of respiratory infections.

On the basis of end user, the clinical microbiology market is segmented into hospitals and diagnostic centers, custom lab service providers, and academic and research institutes. The custom lab service providers segment is estimated to witness the highest growth during the forecast period owing to the continuous outsourcing of drug testing procedures to laboratory service providers by pharmaceutical companies, procedural benefits offered by advanced molecular technology-based instruments (such as PCR and NGS) in drug discovery and researches, increasing number of microbiology-based clinical trials, and the growing number of custom lab service providers across major markets.

Geographically, Asia Pacific market is expected to grow at the highest CAGR from 2018 to 2023. Key factors driving the growth of the market in APAC are the growing number of hospitals and clinical diagnostic laboratories in developing APAC countries; expanding research capabilities for the development of innovative and affordable clinical microbiology testing procedures across India, China, and Japan; and the rising incidence of infectious diseases in the region.
North America is expected to dominate the clinical microbiology market in 2018

Geographically, the market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of APAC), and the Rest of the World (Latin America, and the Middle East and Africa). North America is expected to account for the largest share of the global clinical microbiology market in 2018 due to easy accessibility and high adoption of advanced diagnostic techniques, technological advancements in microbial testing techniques, rising geriatric population, and growing public-private funding to support microbiology-based research in the region.

The major players operating in the microbiology testing/clinical microbiology market are bioMérieux SA (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche AG (Switzerland), Bruker Corporation (US), Hologic, Inc. (US), QIAGEN N.V. (The Netherlands), Thermo Fisher Scientific Inc. (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany), Shimadzu Corporation (Japan), 3M Company (US), and Neogen Corporation (US), among others.

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