ALBANY, New York, April 11, 2017 /PRNewswire/ --
Researchers have found the global Mycoplasma Diagnostics Market to be highly competitive, fragmented, and dynamic. As the persisting demand for advanced technologies and innovation feeds the market, it is less likely to witness decline in competition in the coming years. Determining strategies for consolidating increased share is thus imperative for manufacturers. Transparency Market Research (TMR) finds that a majority of the leading companies in the market are focusing on strategic collaborations and mergers and acquisitions to gain a competitive edge. These factors will aid to the prevailing competition and will have a profound impact on the overall market.
Despite its highly fragmented vendor landscape, a handful of companies hold dominance in the global mycoplasma diagnostics market. Currently, the top five companies in the market are F. Hoffmann-La Roche, Thermo Fisher Scientific, Inc., Merck KGaA, Lonza Group, and Agilent Technologies. The cumulative share of these companies was estimated around 68.7% in 2016.
According to TMR, the global Mycoplasma Diagnostics Market is forecast to exhibit a CAGR of 10.6% between 2016 and 2024. At this pace, the market is likely to reach US$1.35 bn by the end of 2024, from its valuation of US$602.0 mn in 2016. As per end user, hospitals emerged as the leading segment holding 33% of the market in 2016. However, during the course of the forecast period, its share is expected to marginally decrease. In terms of region, North America emerged dominant in the same year, holding over 35.4% of the overall market.
Demand for Mycoplasma Diagnostics Increases with Rising Incidence of Obstructive Pulmonary Diseases
The rising incidence of respiratory tract infections has enabled growth in the global mycoplasma diagnostics market. This being the primary factor, the market players are also expected to derive opportunities from the demand for effective treatment for other non-pulmonary manifestations. According to the Forum of International Respiratory Society's report for the year 2013-2014, deaths due to obstructive pulmonary diseases, lung cancer, and tuberculosis is expected to increase in the coming years. The situation is of serious concern and calls for effective diagnostic technologies to facilitate early detection of diseases.
Considering the aging demographic is more vulnerable to the diseases, a rise in their population will create opportunities for growth. Chronic respiratory tract infections are more common among aged people. It is therefore inevitable for this demography to exhibit maximum demand for mycoplasma diagnostics. "Also patients and their families have become more aware of the advanced treatments, which will help in the penetration of the market across nations," said a lead TMR analyst. Given the factor, the rising disposable income of people across nations will thus offer the market players will lucrative prospects.
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Lack of Awareness - A Major Concern Inhibiting Market's Trajectory
Despite aforementioned opportunities, the global mycoplasma diagnostics market may face a few challenges ahead. Reliability issues for instance will emerge as a primary concern. While the rising awareness has helped the market establish a stronghold in developed nations, lack of knowledge about technological advancements is the reason behind its restrained growth in developing nations. Besides this, the high cost of devices and instruments has emerged as a key limitation, hindering the market's trajectory to an extent. Besides these, the market will continue reeling under strict regulatory approval norms.
Nevertheless, exploring opportunities across emerging nations and the rising healthcare spending therein can help the market gain considerable momentum in the coming years.
This review includes information from a recently published TMR report, titled "Mycoplasma Diagnostics Market (Products - Kits & Reagents, Instruments, and Software & Services; Technologies - PCR, Immunoassay (ELISA, RIA), DNA Staining, and Microbial Culture Techniques; End Users - Hospitals, Diagnostic Laboratories, and Clinics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
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For the purpose of study, the report has segmented the mycoplasma diagnostics market as:
Mycoplasma Diagnostics Market, by Product
- Kits & Reagents
- Software & Services
Mycoplasma Diagnostics Market, by Technology
- DNA staining
- Microbial Culture Techniques
Mycoplasma Diagnostics Market, by End Users
- Diagnostic Laboratories
Global Multiplexed Diagnostics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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