Pharmaceutical Microbiology Industry - Regional Synopsis
North American Market Forecast
North America industry is estimated to hold largest revenue share of 36% by 2037, due to growing innovation in testing technologies in the region. Due to its better health care system and stringent regulations, the region has a higher demand for pharmaceutical microbiology products. Moreover, innovation in testing technologies is encouraged by the existence of large research and development, biotechnology, and pharmaceutical companies.
Other factors contributing to the growth of the market in this region include an aging population, as well as increasing incidences of infectious diseases in the region such as HIV and Influenza. For instance, in the US approximately 25,000 people died from the disease during the flu season in 2019-2020.
APAC Market Statistics
By the end of 2037, Asia Pacific region in pharmaceutical microbiology market is set to dominate around 28% revenue share. The rapid growth of regional nations has led to grown spending on health care, which is driving the demand for pharmaceutical products & services. In addition, the market demand in the region is driven by growing investments in biotechnology and increasing demand for biologics. Moreover, factors such as the availability of skilled labor and supportive regulatory environments have made this region a key hub for pharmaceutical manufacturing activities.
