Rapid Microbiology Testing Market Growing at a CAGR of 8.1% - Rising Incidence of Infectious Diseases
(EMAILWIRE.COM, October 21, 2020 ) 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.
How the Market Growth looks like and Industry Segmentation?
The Global Rapid Microbiology Testing Market is expected to 5.09 billion, growing at a CAGR of 8.1%
Based on product, 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.
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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Growth Driver in Depth:
- Rising Incidence of Infectious Diseases
- Technological Advancements
- Increasing Food Safety Concerns
- Government Initiatives for the Detection of Antimicrobial Resistance
- Bioterrorism Surveillance
- 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
- In 2016, bioMrieux (US), acquired Astute Medical Inc. to expand its immunoassays product portfolio.
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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 tests market during the forecast period (20182023). 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.
The major players operating in the rapid microbiology testing market include bioMrieux SA (France), Danaher Corporation (US), and Becton, Dickinson and Company (US), among others.
Mr. Aashish Mehra
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