(PharmaNewsWire.Com, August 15, 2020 ) According to the new market research report "Rapid Microbiology Testing Market by Method (Growth, Viability), Product (Automated Microbial Identification & AST System, PCR, Reagent), Application (Clinical Diagnosis, Environmental), End User (Labs, Hospitals, Industry) - Global Forecast" published by MarketsandMarkets™.
The Global Rapid Microbiology Testing Market is expected to 5.09 billion, growing at a CAGR of 8.1%.
Major Market Growth Drivers:
- Rising Incidence of Infectious Diseases - Technological Advancements - Increasing Food Safety Concerns - Funding, Research Grants, and Public-Private Investments
Market Growth Opportunities:
- Government Initiatives for the Detection of Antimicrobial Resistance - Emerging Countries - Bioterrorism Surveillance
Growth in the rapid microbiology testing market can be attributed to factors such as the rising prevalence of infectious diseases; ongoing technological advancements; increasing food safety concerns; increased funding, research grants, and public-private investments; and increasing awareness about rapid microbiology testing.
The instruments segment is expected account for the largest share
Based on product, the global rapid microbiology testing market is segmented into instruments, reagents & kits, and consumables. In 2018, the instruments segment is expected to account for the largest share of the market owing to factors such as the significant adoption of modern laboratory instruments in the research and academic sectors (coupled with growing industry-academia collaborations for genomic research) and the ongoing trend of laboratory automation among clinical laboratories.
The clinical disease diagnosis application segment is expected account for the largest share
On the basis of application, the rapid microbiology testing market is segmented into clinical disease diagnosis, food & beverage testing, pharmaceutical & biological drug testing, cosmetics and personal care products testing, environmental applications, research applications, and other applications. The clinical disease diagnosis application segment is expected to dominate the market during the forecast period. This can primarily be attributed to the increasing use of rapid microbiology testing for the diagnosis of infectious diseases in humans; rising emphasis on effective and early disease diagnosis across major markets; and the introduction of advanced, accurate, and rapid methods for faster clinical diagnosis.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global rapid microbiology testing market during the forecast period (2018–2023). The large share of this market can be attributed to the growing technological advancements in the field of rapid microbial testing, rising incidence of infectious diseases, and growing food safety concerns.
In addition, the region has supportive government initiatives that help create awareness and promote the adoption of advanced microbial testing devices among key end users, thereby propelling the growth of the market in North America.
The major players operating in the rapid microbiology testing market include bioMérieux SA (France), Danaher Corporation (US), and Becton, Dickinson and Company (US), among others.
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