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(Health-NewsWire.Net, July 15, 2021 ) The Growth in the rapid microbiology testing market is mainly driven by factors such as the increasing incidence of infectious disease and cancer, technological advancements in rapid microbiology testing, increased funding for R&D and increased focus on the early detection of infectious disease. However, the high capital investments and low cost-benefit ratio and unfavorable regulatory and reimbursement scenarios are the major factors hampering the growth of this market.
According to the new market research report "Rapid Microbiology Testing Market by Product (Reagents, Kits, Automated Identification System, PCR, Mass Spectrometry), Method (Growth, Nucleic Acid, Viability), Applications (Clinical Diagnosis, Pharma, Environmental) - Global Forecast to 2026" published by MarketsandMarkets™, is projected to reach USD 6.7 billion by 2026 from USD 4.2 billion in 2021, at a CAGR of 9.4%.
Opportunity: Growth opportunities in emerging countries;
Emerging economies such as India, South Korea, Brazil, and Mexico offer significant growth opportunities to players operating in the rapid microbiology testing market. This can be attributed to the low regulatory barriers, improvements in healthcare infrastructure, growing patient population, rising prevalence of infectious diseases, and rising healthcare expenditure. Moreover, the regulatory policies in some of these countries are more adaptive and business-friendly than those in developed countries has drawn key players in the market to focus on emerging countries.
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Geographically; The global rapid microbiology testing market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the global microbiology testing market. The North American market's growth can be attributed to the, increased funding for R&D, increased focus on the early detection of infectious disease and increased incidence of infectious disease and cancer.
The major players operating in Rapid Microbiology Testing Market are Abbott Laboratories, Inc. (US), Becton, Dickinson and Company (US), bioMérieux SA (France), Bruker Corporation (US), Charles River Laboratories International, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), NEOGEN Corporation (US), Quidel Corporation (US), Sartorius AG (Germany), Thermo Fisher Scientific, Inc. (US), Don Whitley Scientific Limited (UK), Rapid Micro Biosystems, Inc. (US), Vivione Biosciences, LLC (US), Gradientech (Sweden), rqmicro AG (Switzerland), Bactest Ltd. (US), Colifast (Norway), Serosep Ltd. (Ireland), Biosensia (Ireland), Solus Scientific Solutions Ltd. (Scotland), LubioScience GmbH (Scotland), Euroclone SpA (Italy), CorDx (US), and R-Biopharm AG (Germany).
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Market Segmentation in Detailed:
Based on product, the rapid microbiology testing market is segmented into instruments, reagents and kits, and consumables. The instruments segment accounted for the largest share of the market in 2020. Factors such as technological advancements, increasing incidence of infectious disease and cancer and increased focus on the early detection of infectious disease are contributing to the growth of this market.
Based on applications, the rapid microbiology testing market has been segmented into clinical disease diagnosis, food and beverage testing, pharmaceutican and biological drug testing, environmental testing, cosmetics, and personal care products testing, research applications, and other applications. In 2020, the clinical disease diagnostics segment accounted for the largest share of the microbiology testing market. The increasing incidence of infectious disease and cancer is driving this segments growth.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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