According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the Clostridium Diagnostics Market is poised for remarkable growth, fueled by the critical need for faster and more accurate diagnoses. The market is projected to surge at a stellar Compound Annual Growth Rate (CAGR) of 12.2% from 2022 to 2032. This translates to a significant market expansion, with the value expected to climb from US$2.5 billion in 2022 to a staggering US$7.8 billion by 2032.
Building on a solid foundation of substantial growth witnessed between 2015 and 2021 (CAGR of 13.6%), the clostridium diagnostics market is poised for an even more remarkable expansion in the coming decade.
Market dynamics are evolving with a notable focus from industry players on vaccine development. This strategic shift is expected to further augment market size in the forecast period. A case in point is Japan’s recent initiative in March 2022, wherein a new center with a budget of US$ 1.6 billion was launched to support vaccine and drug projects. Spearheaded by the SCARDA (Strategic Center for Advanced Research and Development in Asia) organization, this initiative aims to establish a flagship R&D site for innovative collaborations and control funds for R&D projects.
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The launch of new vaccines in the market is another vital factor driving the market during the forecast period. For instance, in August 2021, Huvepharma Canada Corporation Inc. launched a new vaccine that is effective against necrotic enteritis (NE) due to Clostridium perfringens type A in broiler chickens.
In addition, emerging companies such as Acurx Pharmaceuticals, Cubist Pharmaceuticals, Endo Aesthetics, Avisa Pharma, and MGB BioPharma are expected to make a significant contribution to developing the market during the forecast period. However, lack of awareness and scarcity of resources in developing countries are expected to hamper the market growth during the forecast period. Also, the high costs involved in R&D and vaccine manufacturing are expected to be other factors hindering the market growth in the assessment period.
However, growing partnerships among players are projected to counter the hampering factors and boost the market. For instance, in March 2021, the Peggy Lillis Foundation for Clostridium difficile infections announced a partnership with Ferring Pharmaceutical through a new sponsorship to assist new and existing patient advocacy initiatives.
Key Takeaways from the Clostridium Diagnostics Market Study:
- The immunoassay technology is expected to dominate the Global Clostridium Diagnostics Industry at a CAGR of 11.6% during 2022-2032
- The clostridium diagnostics market in the U.S is anticipated to display a CAGR of 11.8% during the forecast period
- The UK clostridium diagnostics market is predicted to hold a market value worth US$ 330 Million by 2032
- The Japanese clostridium diagnostics market is estimated at a CAGR of 11.1% during the forecast period.
“Growing launch of new vaccines by various players of the market along with the increasing popularity of awareness campaigns as a useful tool for market growth is expected to play a significant role in driving the market during the forecast period,” says an FMI analyst.
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Clostridium Diagnostics Market Competition Analysis
- Abbott Laboratories
- F. Hoffmann La-Roche AG
- Siemens AG
- Becton, Dickinson & Company
- Beckman Coulter Inc.
- Sysmex India Pvt. Ltd.
- Thermo Fisher Scientific Inc.
- Fujirebio US Inc.
- BioMerieux S.A
- Diazyme Laboratories Inc.
Key Segments Profiled In The Clostridium Diagnostics Market
Global Clostridium Diagnostics Industry by Technology:
- Immunoassays-based Clostridium Diagnostics
- Molecular Clostridium Diagnostics
Clostridium Diagnostics Market by End User:
- Clostridium Diagnostics in Hospitals
- Clostridium Diagnostics in Government Diagnostics Laboratories
- Clostridium Diagnostics in Independent Laboratories
Clostridium Diagnostics Market by Product:
- Clostridium Difficile Diagnostics
- Clostridium Perfringens Diagnostics
- Clostridium Botulinum Diagnostics
- Clostridium tetani Diagnostics
- Clostridium Sordell Diagnostics
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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