Market Research Future adds the “Microbiology Testing Market Research Report – Forecast to 2023” report to their unique collection.
The global microbiological testing market was valued at USD 2706.1 Mn in 2016 and is due to reach USD 5409.1 Mn by the end 2023, affirms Market Research Future (MRFR) in a detailed study.
Technological advancements in microbiology which expedite infection diagnosis and provide more reliable results have gained significant traction in recent years. Rising cases of infectious diseases have provided fodder for the growth of the microbiological testing market. The outbreak of several disease epidemic across the globe have spurred demand for microbiological testing services. This has resulted in an increase in research funding and a substantial increase in healthcare expenditure on a global scale. Surveillance Programs aimed at disease control and growing stringency of safety standards are other factors substantiating the growth of the global microbiology testing market. Furthermore, traditional laboratory techniques have become almost obsolete and have lost grounds to advanced microbiological testing methods.
The food industry is a major end user of the global microbiology testing market which generates continual demand for microbiological testing. Ensuring food safety is of paramount importance in the food industry. Food manufacturers incur huge economic losses due to contamination and spoilage from bacteria. Moreover, regulatory bodies mandate microbiological testing of food items before it is put up for sale in the market. Food manufacturers extensively utilize microbiological testing to quantify and detect pathogenic spoilage and microorganisms.
On the downside, the market growth of microbiology testing is at threat from erroneous results and the high cost of reagents and instruments. However, increase in R&D activities coupled with grants for the same is expected to provide opportunities for market growth. However, tightened government regulations and policies are likely to remain as challenges to market growth.
The global microbiology testing market has been segmented based on type, application, and end user.
By type, the global microbiology testing market has been segmented into instruments, chemicals & reagents, consumables & accessories, and others. The chemicals & reagents segment holds around 42.1% share of the global market.
By application, the global microbiology testing market has been segmented into gastrointestinal infections, respiratory infections, urinary tract infections, sexually transmitted infections, and others.
By end user, the global microbiology testing market has been segmented into hospital-based laboratory, independent laboratory, and academics & research institutes.
By region, the global microbiology testing market has been segmented into North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America accounts for the foremost share of 37.9% of the global market. Presence of sophisticated laboratory infrastructure and high adoption rate of advanced diagnostic procedures. High prevalence of diseases in the region has resulted in heavy amounts being poured in to support microbiology-based research which has further favored the market growth in the region.
APAC market is estimated to showcase rapid growth over the forecast period. Increasing patient pool and remarkable healthcare spending by the emerging economies of the region and considerable increase in testing and laboratory facility. APAC market is expected to expand at a CAGR of 12.1% over the forecast period.
Europe market is likely to showcase significant growth on account of extensive R&D activities purveyed by state-of-the-art testing infrastructure. The MEA market is expected to showcase sluggish growth over the forecast period.
Biomérieux SA (France), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (US), BD (US), Beckman Coulter, Inc. (US), Cepheid (US), and Alere (US) are the notable players in the global microbiology testing market.
February 2019 – bioMérieux, Inc., a global leader in in-vitro diagnostics, offering microbiological testing solutions for medical applications, has announced the acquisition of Invisible Sentinel, developer, manufacturer, and marketer of molecular diagnostic tool. The acquisition will help bioMérieux strengthen its position in food pathogen testing and spoilage organism detection segment.
August 2018 – Neogen Corporation, an international food safety company, announced the acquisition of Clarus Labs, Inc. The acquisition includes the patented Colitag water test.
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