Global Rapid Microbiology Testing Market is expected to grow at a CAGR of 5.39% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Rapid Microbiology Testing Market by Product (Instruments, Reagents & Kits, Consumables), Method, Application, End Users (Diagnostic Laboratories & Hospitals, Food & Beverage, Pharmaceutical & Biotechnology, Contract Research Organizations, Other), Region and Global Forecast 2018-2025.
As per the report, the global rapid microbiology testing market is expected to grow from USD 3.72 billion in 2017 to USD 5.88 billion by 2025 at a CAGR of 5.39% during the forecast period from 2018-2025. Increasing incidence of infectious diseases, high-tech advancements of rapid microbial testing, the swelling food safety concerns are some of the factors that led to the expansion of rapid microbiology testing market in North America region.
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Prominent companies in the industry include Abbott Laboratories, Becton, Dickinson and Company, Biomérieux, Bruker Corporation, Charles River Laboratories International, Inc., Danaher Corporation, Don Whitley Scientific Limited, Merck, Neogen Corporation, Quidel Corporation, Rapid Micro Biosystems, Inc., Sartorius Group, Thermo Fisher Scientific, TSI, Inc., and Vivione Biosciences, LLC are offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share. For instance, in 2018, LuminUltra acquired aqua-tools’ Rapid Microbial Solutions division. This added B-QUA product line for ballast water compliance monitoring in LuminUltra’s portfolio.
Product segment includes instruments, reagents & kits, and consumables. The instruments segment is further divided into automated microbial identification and antimicrobial susceptibility testing systems, mass spectrometers, PCR systems, bioluminescence- and fluorescence-based detection systems, cytometers, active air samplers, and other. The reagents & kits segment further covers sterility testing reagents & kits and other reagents & kits. The instruments segment held highest market size of USD 1.41 billion in 2017 due to implementation of modern laboratory instruments and trend of laboratory automation among clinical laboratories. Method segment is categorized into growth-based, cellular component-based, nucleic acid-based, viability-based, and other. The other segment further includes micro-electrical-mechanical systems (MEMS) and optical spectroscopy. The growth-based segment held largest market share of 30.64% in 2017 owing to easy to process, limited requirement of skilled professionals, and supportive government guidelines. Application segment is segmented into clinical disease diagnosis, food & beverage testing, pharmaceutical & biological drug testing, environmental testing, cosmetics & personal care products testing, research applications, and other. The clinical disease segment is anticipated to reach value around USD 1.66 billion during forecast period. Here, contributing factors are growing use of rapid microbiology testing for humans to diagnose infectious diseases; increasing importance of effective and early disease diagnosis, and development accurate and advanced methods for quicker clinical diagnosis. End users segment covers diagnostic laboratories & hospitals, food & beverage companies, pharmaceutical & biotechnology companies, contract research organizations, and other. The diagnostic laboratories & hospitals segment is anticipated to grow with highest CAGR 7.11% over the forecast period. This is primarily be attributed to growing occurrence of infectious diseases, increasing healthcare expenditure, and high-tech developments in rapid microbial testing.
Factors propelling the growth of the market include rising incidence of infectious diseases, increasing food safety concerns, rising need for easy and fast diagnosis, and funding, research grants, and public-private investments. The unfavourable compensation policies may limit the growth of market. However, technological advancements, government Initiatives for the detection of antimicrobial resistance, bioterrorism surveillance is expected to boost the rapid microbiology testing market over the forecast period.
About the report:
The global rapid microbiology testing market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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