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(Health-NewsWire.Net, June 13, 2020 ) The Global Rapid Microbiology Testing Market is expected to 5.09 billion, 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.
These tests provide a cost-effective alternative for microbial identification by reducing the per procedure consumable cost. Clinical diagnostics, food and beverage testing, and environmental applications use rapid technologies in microbial identification to identify microbes from different samples.
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Market Segmentation in Depth:
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.
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.
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Geographical Analysis:
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 (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.
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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