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(Health-NewsWire.Net, July 24, 2020 ) According to MarketsandMarkets latest research report - [227 Pages Report] The microbial identification market is expected to reach USD 3.00 Billion by 2022 from USD 2.04 Billion in 2016 at a CAGR of 6.6%.
The market growth is primarily driven by the rising incidence of infectious diseases coupled with epidemic and pandemic outbreaks, increasing food safety concerns, technological advancements in microbial identification techniques, and government initiatives and funding to promote microbial identification.
What drives the Market?
Rising Incidence of Infectious Diseases Coupled With Epidemic and Pandemic Events
Technological Advancements in Microbial Identification
Increasing Food Safety Concerns
Government Initiatives and Funding for Promoting Microbial Identification
However, the factors such as the high cost of instruments and complex regulatory framework for the approval of new microbial diagnostic tests may restrain the market’s growth to a certain extent.
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Target Audience for this Report:
Academic and research institutes
Hospitals, clinics, and laboratories
Clinical research organizations (CROs)
Microbial identification service providers
Culture collection repositories
Diagnostic associations
Venture capitalists
Life sciences instrumentation and reagent companies
Business research and consulting firms
Government bodies
Microbial identification database and software providers
Venture capitalists
By method, the market is classified into phenotypic methods, proteomics-based methods, and genotypic methods. The phenotypic methods segment is estimated to account for the largest share of the global microbial identification market. The large share of this segment can be attributed to features like cost-effectiveness, ease of use, and ability to deliver results rapidly which lead to their increased adoption across different end users.
On the basis of end user, the market is segmented into hospitals, diagnostic laboratories, and blood banks; food manufacturing companies; beverage manufacturing companies; pharmaceutical companies and CROs; and other end users. The hospitals, diagnostic laboratories, and blood banks segment is estimated to account for the largest share of the global market. Rising prevalence of various infectious diseases coupled with periodic outbreaks of pandemics and epidemics are major factors driving the growth of this end user segment.
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Market Key Players
The key players in the microbial identification include Becton, Dickinson and Company (US), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), bioMérieux S.A. (France), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Bruker Corporation (US), Shimadzu Corporation (Japan), VWR Corporation (US), Eurofins Scientific S.E. (Luxembourg), GTCR, LLC. (US), QIAGEN N.V. (Netherlands), Liofilchem s.r.l. (Italy), IEH Laboratories & Consulting Group (US), Alcami Corporation (US), Biolog, Inc. (US), Abellon CleanEnergy Limited (India), Alpha Analytical, Inc. (US), NeoGenomics, Inc. (US), Trivitron Healthcare (India), Molzym GmbH & Co. KG (Germany), Dynatec Labs (US), Altogen Labs (US), STERIS plc (UK), and Wickham Laboratories Ltd. (UK).
Becton, Dickinson and Company (US)
Becton, Dickinson and Company (US) accounted for the largest share of the microbial identification market in 2016. The company has a wide range of products for microbial identification and focuses on limited applications. BD differentiates its products by branding them and launching new products in the field of clinical diagnostics. Product innovation is the one of the major goals of the company and launched innovative products over the last three years, which are capable of rapidly and accurately identifying microorganisms. For example, in 2016, the company launched the BD Phoenix M50 ID/AST system to identify bacteria and detect antimicrobial resistance.
Thermo Fisher Scientific Inc. (US)
Thermo Fisher Scientific Inc. (US) accounted for the second-largest market share of the microbial identification market in 2016. The company has a broad product portfolio for microbial identification and caters to different applications. Thermo Fisher Scientific launched innovative products to enable the rapid and accurate identification of pathogens from food samples. The company focuses on growing inorganically as it partnered with various companies over the last three years to strengthen its position in the microbial identification market. In 2017, the company partnered with SpeeDx Pty. Ltd. (Australia) with a view to introduce diagnostic tests in the US market.
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raviraj.tak@marketsandmarkets.com
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