Dublin, April 23, 2024 (GLOBE NEWSWIRE) -- The "Global Rapid Microbiology Testing Market by Product (Instruments (Automated Identification System, PCR, Mass Spectrometer) Reagent, Kits), Method (Growth, Nucleic Acid, Viability), Application (Clinical Diagnosis, Industrial, Research) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The rapid microbiology testing market is valued at an estimated USD 5.2 billion in 2024 and is projected to reach USD 8.3 billion by 2029 at a CAGR of 10.1% during the forecast period. There has been a gradual shift from traditional microbiology testing to rapid testing methods in recent years due to the introduction of newer and faster technologies. These technologies eliminate the need for biological amplification of bacteria, making detection quicker and more efficient. Microbial testing has overcome the limitations of long procedural times and exposure to pathogenic strains associated with conventional testing methods. With continuous developments in efficacy, efficiency, accuracy, faster results, and improved functionality, technological advancements in microbiology testing have generated increased interest among clinical laboratories, hospitals, academic institutes, research laboratories, and pharmaceutical & biotechnology companies. 
Reagents & kits segment accounted for the highest growth rate in the rapid microbiology testing market, by product, during the forecast period.
The rapid microbiology testing market is bifurcated into instruments, reagents & kits, and consumables. The reagents & kits segment in the rapid microbiology testing market is experiencing substantial growth. Major factors driving the growth of this segment include the increasing number of infectious disease diagnostic tests carried out, easy accessibility to a wide range of reagents, and the growing need for more reliable, more specific, and faster detection of microbes in the early stages.
Nucleic acid-based rapid microbiology testing segment accounted for the highest growth rate in the rapid microbiology testing market, by method, during the forecast period.
The rapid microbiology testing market is bifurcated into growth-based, cellular component-based, nucleic acid-based, viability-based, and other rapid microbiology testing methods based on method. Nucleic acid-based rapid microbiology testing segment is expected to account for the highest CAGR during the forecast period. The rapid growth of this segment is driven by a combination of technological advancements, greater accuracy, and customization capabilities.
Asia Pacific: The fastest-growing region rapid microbiology testing market.
The worldwide market for rapid microbiology testing is categorized into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. Notably, the Asia Pacific region is anticipated to experience the most substantial growth in the forecast period. Emerging economies in this geographical area are observing an upswing in their gross domestic products (GDPs) along with a noteworthy increase in disposable income levels. Consequently, there has been a surge in healthcare expenditure among a larger segment of the population. This trend can be attributed to the sizable patient population and the presence of numerous low-cost device manufacturers in the region.
The report provides insights on the following:
- Analysis of key drivers (Increasing incidence of infectious diseases and cancer, technological advancements in rapid microbiology testing, increased funding for R&D and Increased focus on early detection of infectious diseases), opportunities (Growth opportunities in emerging countries), restraints (High capital investments and low cost-benefit ratio and nfavorable regulatory and reimbursement scenario), and challenges (Operational barriers) influencing the growth of the rapid microbiology testing market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the rapid microbiology testing market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the rapid microbiology testing market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the rapid microbiology testing market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings of leading players like bioMerieux, Becton, Dickinson and Company, Danaher Corporation, Abbott Laboratories and Thermo Fisher Scientific Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 318 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $5.2 Billion |
| Forecasted Market Value (USD) by 2029 | $8.3 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Rapid Microbiology Testing Market, by Product, 2024 Vs. 2029 (USD Million)
- Rapid Microbiology Testing Market, by Method, 2024 Vs. 2029 (USD Million)
- Rapid Microbiology Testing Market, by Application, 2024 Vs. 2029 (USD Million)
- Rapid Microbiology Testing Market, by Region, 2024 Vs. 2029 (USD Million)
Premium Insights
- Rapid Microbiology Testing Market Overview - Growing Focus on Early Detection of Diseases to Support Market Growth During Forecast Period
- Rapid Microbiology Testing Market, by Product, 2024 Vs. 2029 (USD Million) - Instruments Segment to Dominate Market During Forecast Period
- Rapid Microbiology Testing Market, by Method, 2024 Vs. 2029 (USD Million) - Growth-Based Rapid Microbiology Testing Segment to Account for Largest Market Share During Forecast Period
- Rapid Microbiology Testing Market, by Application, 2024 Vs. 2029 (USD Million) - Industrial Testing Segment to Dominate Market During Forecast Period
- Rapid Microbiology Testing Market: Geographic Growth Opportunities - Asia-Pacific to Register Highest Growth Rate in Rapid Microbiology Testing Market During Forecast Period
Market Dynamics
Drivers
- Increasing Incidence of Infectious Diseases and Cancer
- Technological Advancements in Rapid Microbiology Testing
- Increased Funding for R&D
- Increased Focus on Early Detection of Infectious Diseases
Restraints
- High Capital Investments and Low Cost-Benefit Ratio
- Unfavorable Regulatory and Reimbursement Scenario
Opportunities
- Growth Opportunities in Emerging Countries
Challenges
- Operational Barriers
Technology Analysis
- Key Technologies
- Automated Multiplex PCR Systems
- Complementary Technologies
- Optical Immunosensors
- Electrochemical Immunosensors
- Adjacent Technologies
- Maldi-TOF Mass Spectrometry
Trends/Disruptions Impacting Customers' Businesses
- Revenue Shift & Revenue Pockets for Rapid Microbiology Testing Market
- Revenue Shift in Rapid Microbiology Testing Market
Companies Profiled
- Biomerieux
- Becton, Dickinson and Company
- Danaher Corporation
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Bruker
- Quidelortho Corporation
- Sartorius AG
- Charles River Laboratories
- Neogen Corporation
- Don Whitley Scientific Limited
- Rapid Micro Biosystems, Inc.
- Gradientech
- Perkinelmer Inc.
- Rqmicro
- Colifast
- Serosep Limited
- Btnx Inc.
- R-Biopharm
- Paragon Genomics, Inc.
- Kypha Inc.
- Vivione Biosciences
- Bactest Ltd.
- Cordx
For more information about this report visit https://www.researchandmarkets.com/r/wp6zmq
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