Rapid Microbiology Testing Market Worth $5.09 billion | Technological Advancements & Rising Incidence of Infectious Diseases

Rapid Microbiology Testing Market

Rapid Microbiology Testing Market

PUNE, India, 2020-Jun-02 — /EPR Network/ —

[188 Pages Report] The Global Rapid Microbiology Testing Market is expected to 5.09 billion by 2023 from USD 3.45 billion in 2018, growing at a CAGR of 8.1%.

Market Dynamics:

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.

Driver- Technological advancements

Over the years, there has been a gradual shift from conventional microbiology testing toward rapid testing methods. This shift has been driven by the introduction of newer and faster technologies to avert the need for the biological amplification of bacteria for detection. Rapid advancements in the field of microbial testing help to overcome limitations such as long procedural times and long exposure to pathogenic strains with conventional testing methods. Continuous technological advancements in microbiology testing, in terms of efficacy, efficiency, accuracy, faster results, and improved functionality, are generating increased interest among clinical laboratories, hospitals, academic institutes, research laboratories, and pharmaceutical and biotechnology companies.

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By product, 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.

By method, the growth-based rapid microbiology testing segment is expected account for the largest share

Based on method, the global rapid microbiology testing market is divided into five segments-growth-based, viability-based, cellular component-based, nucleic acid-based, and other testing methods. The growth-based rapid microbiology testing segment is expected to account for the largest share of the market in 2018. The large share of this segment can be attributed to factors such as the ease of processing (this method uses conventional liquid or agar media), the limited requirement of skilled professionals, and supportive government regulations.

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North America is expected to account for the largest share of the rapid microbiology testing market during the forecast period

The report covers the rapid microbiology testing market across four key geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the global rapid microbiology testing market in 2018. Technological advancements in the field of rapid microbial testing, the rising incidence of infectious diseases, and growing food safety concerns are driving the growth of the rapid microbiology testing market in North America. Additionally, easy accessibility and high adoption of advanced diagnostic technologies owing to the significant per capita annual healthcare expenditure by the US and Canadian governments are increasing the adoption of rapid microbiology testing in this region.

Key Market Players:

Some of the prominent players in the rapid microbiology testing market include bioMérieux SA (France). Abbott Laboratories Inc. (US), Danaher Corporation (US), and Becton, Dickinson and Company (US). Other players in this market include Bruker Corporation (US), Charles River Laboratories International, Inc. (US), Don Whitley Scientific Limited (UK), Merck KGaA (Germany), Neogen (US), Quidel Corporation (US), Rapid Micro Biosystems, Inc. (US), Sartorius Group (Germany), Thermo Fisher Scientific (US), TSI Inc. (US), and Vivione Biosciences, LLC (US).

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