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Microbiology Testing Market Is projected To Reach At US$ 7.319 Bn By 2027, Growing At A CAGR Of 7.5 % During The Forecast Period
The global Microbiology Testing market has shown noteworthy growth since the last few years. The global market is estimated to show steady growth in the initial three years of forecast period which is further expected to gain traction. Some of the factors propelling the growth of global market include R&D initiative, supportive government legislation, rising number of infectious diseases, and growing healthcare industry.
Advantages Associated with Microbiology Testing is anticipated to fuel the Market Growth during the Forecast Period
The microbiology testing has registered huge demand from the in-vitro diagnostics industry owing to the advanced features associated with it. These systems are able to detect any microorganism’s impurity including viruses, yeast, bacteria, and fungi in any sample given for infection testing. For instance, microbiology testing is used to examine sample for several infectious diseases including HIV, tuberculosis, Ebola virus, and syphilis. Moreover, in the food industry, it is used for testing of canned foods and beverages. Moreover, the food and drug manufacturers have to follow FDA standards microbiology testing to ensure the usability of the product for humans. These factors are anticipated to fuel the growth of global microbiology testing market during the forecast timespan.
Pharmaceutical Segment Held Key Share in Global Microbiology Testing Market in 2019
Based on the application, the global market is dominated by the pharmaceutical segment. The dominance of the region can be credited to the supportive government legislations to govern the assessment of microbial contamination during raw material sourcing processes and medication manufacturing.
Laboratory Instruments Segment Held Significant Share in 2019
Based on instruments, the laboratory instruments segment is anticipated to dominate the global market throughout the forecast period. This is mainly due to the inclination towards laboratory automation and continuous development in the microbiology testing sector. The manufacturers are integrating conventional microbiology instruments and robotic solutions in order to automate the laboratory processes. This is expected to put a positive impact on segment growth.
On the Basis of Disease type, the Respiratory Diseases held a key share in Global Microbiology Testing Market in 2019
By power device, the IGBT based Microbiology Testing segment held a larger market share in 2018. The segment is expected to be the dominant one throughout the forecast period. The cases of respiratory patients are increasing significantly across the globe, which is indirectly putting a positive impact on the growth of the segment, Moreover, the rising occurrences of target respiratory diseases such as bronchitis, TB, COPD, and asthma is anticipated to boost the growth of the segment.
By Geography, North America Is Anticipated To Expand At Rapid Pace during the Forecast Period
Based on the region, North America is the largest shareholder followed by Europe. The growth of North America can be accredited to the high adoption rate of developed technologies and easy accessibility in the U.S. and Canada. Moreover, the funding and promotional activities conducted by public and private entities to support microbiology-based research are anticipated to create ample opportunities for regional growth.
On the other hand, Asia Pacific is estimated to witness remarkable growth during the period of the research study. Some of the driving factors for the growth of the region include emerging economies, developing healthcare infrastructure favorable reimbursement scenarios, and tax benefits provided by the government. Moreover, increasing medical tourism in Asia countries including China, India, Malaysia, and Indonesia is expected to boost the demand of medical equipment which is expected to poise a positive impact on regional growth.
Some of the major companies operating in global Microbiology Testing market include Neogen Corporation, bioMérieux SA, 3M Company, Danaher Corporation, Shimadzu Corporation, Becton, Merck KGaA, Dickinson and Company, Agilent Technologies, Inc., Abbott Laboratories, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., QIAGEN N.V, F. Hoffmann-La Roche AG, Hologic, Inc., and Bruker Corporation.
Global Microbiology Testing Market by Products
- Microbiology Analysers
- Mass Spectrometers
- Molecular Diagnostic Instruments
- Laboratory Instruments
- General Reagents
- Pathogen-Specific Kits
Global Microbiology Testing Market by Diseases
- Periodontal Diseases
- Respiratory Diseases
- Urinary Tract Infections (UTIs)
- Bloodstream Infections
- Sexually Transmitted Diseases
- Gastrointestinal Diseases
Global Microbiology Testing Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America