Transparency Market
Research states that the global mycoplasma diagnostics market will
expand at a promising 10.6% CAGR over the period between 2016 and
2024, rising from a valuation of US$602.0 mn in 2016 to US$1.35 bn in
2024.
The vast rise in the
rate of prevalence of respiratory tract infections has emerged as the
key growth driver for the global mycoplasma diagnostics market in the
past few years. A report by the Forum of International Respiratory
Society, published in 2013-2014, has predicted that deaths resulting
from pulmonary conditions such as lung cancer, obstructive pulmonary
diseases, and tuberculosis will rise at a worrisome pace in the next
few years. The situation thus calls for effective methods of
diagnosing these conditions so as to detect the diseases in their
early stages.
The vast rise in the
population of geriatrics, a demographic which is more vulnerable to
these conditions, is also expected to increase the global demand for
mycoplasma diagnostics in the next few years. Rising awareness among
families regarding advanced diagnostic technologies related to
mycoplasma is also expected to remain a prime factor fueling the
growth prospects of the global mycoplasma diagnostics market over the
report’s forecast period. Rising disposable incomes of people
across developing economies will help the market ace cost
constraints.
Some challenges are
projected to hinder the growth prospects of the market to a certain
extent in the next few years. These include reliability issues, lack
of awareness regarding technological advancements in mycoplasma
diagnostics, and the high cost of devices and consumables acting as a
key restraint for the market to expand in cost-sensitive regional
economies. Besides these, the market is also expected to bear the
brunt of stringent regulatory approval norms, especially in developed
regions such as North America and Europe.
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In terms of the key
end users of mycoplasma diagnostics devices and consumables, the
segment of hospitals is presently the dominant demand and revenue
generator. The segment accounted for a nearly 33% of the overall
mycoplasma disorder market in 2016 but is projected to witness a
slight decline in its global share by the end of the report’s
forecast period. From a geographical perspective, the market in North
America is presently the leading revenue generator, accounting for a
more than 35% of the overall market in 2016.
The global market
for mycoplasma disorder featured the top five vendors, namely Thermo
Fisher Scientific, Inc., F. Hoffmann-La Roche, Merck KGaA, Agilent
Technologies, and Lonza Group accounting for over 68% of the overall
market in 2016, observes Transparency Market Research (TMR) in a
recent report. The high level of consolidation has ensued intense
competition and increased focus of leading vendors on mergers and
acquisitions, geographical expansion, and introduction of
technologically advanced product varieties. With rise in mergers,
acquisitions, and strategic collaborations, the market is expected to
become less competitive in the next few years.
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