Microbial Identification Market to Witness Contraction, as Uncertainty Looms Following Global Coronavirus Outbreak
VALLEY COTTAGE, N.Y. – Future Market Insights has recently published an exclusive forecast report on the global market for microbial identification. In the foreseeable future, improvements in techniques adopted by microbiologists for identifying pathogens and examining microbial cultures will factor developments in microbial identification systems.
From healthcare to food & beverage, the vital use of microbial identification in applied research projects will continue to boost the growth of the global microbial identification market. By 2022-end, microbial identification systems are pegged to become a global market worth US$ 1.4 billion. During the forecast period, 2017-2022, the global market for microbial identification will be registering a robust growth at 6% CAGR. The report has analysed a slew of factors influencing the dynamics of microbial identification markets across several regions.
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North America to register steadfast adoption of microbial identification
A key discernment from the regional analysis delivered in the report exhibits the dominance of North America in the global microbial identification market. Considering how healthcare marketplaces in the US and Canada are robust, compared to other developed markets, and taking into account the rising contribution of North American academic institutes in developing research studies of medical microbiology, the adoption of microbial identification systems will be widespread in this region. Towards the end of forecast period, North America’s microbial identification market will be worth around half a billion dollars, soaring robustly at a CAGR of 6.4%. Europe and Asia-Pacific excluding Japan (APEJ) will also be observed as lucrative markets for expansion of microbial identification.
Key Findings from the Report
- In 2017, over two-fifth of revenues anticipated to be procured in the global microbial identification market will be accounted by sales of bacterial identification systems
- Towards the end of forecast period, global sales of microbial remuneration systems will procure an estimated US$ 310 million in revenues
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- Throughout the forecast period, bacterial resistance identification systems will represent the fastest-selling product in the overall microbial identification market
- Pharmaceuticals and biotechnology industry will remain the largest end-user of microbial identification by 2022
- The end-use of microbial identification systems in water and environment sector will remain steady in 2017 and the following years
- Between 2017 and 2022, the end-use of microbial identification across independent research laboratories in the world is anticipated to create an incremental opportunity of more than US$ 50 million
- In 2017 and beyond, the use of microbial identification methods in blood banks will be subpar
- Diagnostics remains to be a key application for microbial identification, revenues from which are anticipated to register above-average growth
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While detection of harmful microbes is viewed as a necessary measure for bolstering quality control in production of food items and drinks, the application of microbial identification in food & beverage testing will register a moderate CAGR in terms of revenues over the forecast period
On the basis of technologies, phenotypic microbial identification methods are anticipated to remain predominant in terms of adoption, albeit, genotypic technologies will register a marginally high CAGR during the assessment period
The report has further profiled companies that will be actively manufacturing microbial identification systems in the global market. Key players in the global microbial identification market include, Bruker Corporation, Danaher Corporation, Thermo Fisher Scientific, Inc., Shimadzu Corporation, Siemens Healthineers, QIAGEN N.V., Merck & Co Inc., bioMerieux S.A., Becton, Dickinson and Company, and Biolog, Inc. Many of these companies are expected to focus on developing microbial identification systems that befit the advancements in the field of medical microbiology. Specific requirements of microbiologist working in leading microbial identification projects will also influence the manufacturing techniques exercised by these companies.
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