Rapid Microbiology Testing Market Worth $5.09 billion – Technological advancements and Recent Developments

Rapid Microbiology Testing Market

Rapid Microbiology Testing Market Rapid Microbiology Testing Market

PUNE, India, 2021-Apr-08 — /EPR Network/ —

The Growth in 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.

According to the new market research reportRapid 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™

Growth 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.

Owing to changing end-user preferences, many prominent product manufacturers are highly focused on the development and commercialization of innovative and technologically advanced molecular diagnostic products for rapid microbiology testing. Recent developments in this regard include:

  • In 2016, bioMérieux (France) enhanced its VITEK MS system’s performance by improving and updating its database and reagent kits to include the identification of 297 new species.
  • In 2016, BD (US) introduced the Phoenix M50 ID/AST system for susceptibility testing.
  • In 2016, Bruker (US) launched an updated version of its MALDI Biotyper system to provide high-speed and accurate identification and taxonomical classification of bacteria, yeasts, and fungi.

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Expected Revenue Surge:

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%.

Geographical Scenario in Depth:

The Rapid Microbiology Testing 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 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 microbiology testing market in North America.

Leading Key-Players:

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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Recent Developments:

  • 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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