New Jersey, NJ, Sept. 03, 2019 (GLOBE NEWSWIRE) -- 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 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 2018-2025, according to the new report published by Fior Markets.
Rapid microbiology testing requires limited uptake by scientists and this has increased its popularity and adoption in healthcare sectors. This tests saves time for detecting the infectious diseases as well as assist in managing low respiratory tract infection. In addition, advancement of different frameworks for identification of microorganisms has been driven by purchaser and patient needs within food & beverage, natural and clinical as well as medicinal services industries. Furthermore, the advancements in technologies have additionally empowered the pharmaceutical and biopharmaceutical industries to authenticate and execute rapid microbiology testing instead of their traditional microbiology strategies.
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 the market. However, technological advancements, government initiatives for the detection of antimicrobial resistance and bioterrorism surveillance is expected to boost the rapid microbiology testing market over the forecast period.
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Key players operating in the global rapid microbiology testing market are 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., Vivione Biosciences, LLC, and among others. The Abbott Laboratories, Becton, Dickinson and Company, Biomérieux, Bruker Corporation, Charles River Laboratories International, Inc., and Danaher Corporation are the top leading players of the market. In order to enhance their market position in the global rapid microbiology testing market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2019, Merck and India’s Food Safety and Standards Authority of India (FSSAI) partner on skill development in food safety. The Center for Microbiological Analysis Training (C-MAT) will provide training to food safety scientists from government laboratories and FSSAI-ratified private laboratories on the latest technology in microbiological testing.
- 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.
Instruments segment held the highest market share of 37.81% in 2017.
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 dominated the global rapid microbiology market and held the highest market share of 37.81% in 2017 due to implementation of modern laboratory instruments and trend of laboratory automation among clinical laboratories.
Clinical segment is anticipated to hold the highest market share of 28.15% in the forecast year.
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 segment is anticipated to hold the highest market share of 28.15% in the forecast year. 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.
Diagnostic laboratories & hospitals segment is anticipated to reach value around USD 1.73 billion during forecast period.
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 reach value around USD 1.73 billion during forecast period. This is primarily be attributed to growing occurrence of infectious diseases, increasing healthcare expenditure, and high-tech developments in rapid microbial testing.
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Regional Segment Analysis of the Rapid Microbiology Testing Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region held the largest market share of approximately 37.18% in 2017 where as the Asia Pacific region held the second dominant position in the global rapid microbiology testing market. 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. Asia Pacific is second fastest growing region due to the increasing healthcare expenditure, increasing initiatives for promoting use of advanced rapid microbiology testing technologies.
About the report:
The global rapid microbiology testing market is analysed on the basis of value (USD Billion), production (‘000 Units), consumption (‘000 Units), import (‘000 Units), and export (‘000 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, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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