At a CAGR of 8.1% – Rapid Microbiology Testing Market projected to surpass $5.09 billion

Rapid Microbiology Testing Market

PUNE, India, 2020-Dec-11 — /EPR Network/ —

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™.

Revenue Growth Opportunities and Growth Drivers?

The Global Rapid Microbiology Testing Market is expected to 5.09 billion, growing at a CAGR of 8.1%.

Growth Boosting Factors:

• Rising Incidence of Infectious Diseases
• Technological Advancements
• Increasing Food Safety Concerns
• Funding, Research Grants, and Public-Private Investments

Recent Developments in Industry:

• In 2018, Becton, Dickinson and Company (US), received CE Mark for its next-generation molecular screening test for antibiotic-resistant carbapenemase-producing organisms (CPOs) to be used on BD MAX system.
• In 2017, Abbott completed the acquisition of Alere, to expand its product portfolio and strengthen its market position in the rapid microbiology testing market.
• In 2017, Merck KGaA (Germany), signed agreement with OpGen, Inc. (US), to develop rapid diagnostics and information technology products to help combat the threat of antimicrobial resistance.

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Leading Key Players in the Worldwide Industry:

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.

bioMérieux is one of the leading players in the market. The company has a robust product portfolio and a strong geographical presence in more than 150 countries across the world. The company has a comprehensive range of solutions for rapid microbial identification, resistance detection, and diagnosis of bacterial infection. In 2017, the company focused extensively on research and development efforts to accelerate the growth, with ~13.3% of its sales invested in R&D. This heavy investment in R&D is driving the launch of new and technologically improved products by the company.

Geographical Regions Mapped in Report:

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. 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.

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Market Segmentation in Detailed:

On the basis of product, is segmented into instruments, reagents & kits, and consumables. The instruments segment is further categorized into automated ID/AST systems, mass spectrometers, PCR systems, bioluminescence- and fluorescence-based detection systems, cytometers, active air samplers, and other instruments. The automated microbial ID/AST systems segment is expected to command the largest share of the global rapid microbiology testing market in 2018. This is primarily due to the ability of these systems to produce rapid, accurate, reliable, and cost-effective results.

Based on method, classified into segments growth-based, viability-based, cellular component-based, nucleic acid-based, and other rapid microbiology testing methods. The growth-based segment is expected to account for the largest share of the market. 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.