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The market has been segmented by Application, Product (Equipment and Reagents), and Geography
Fastest Growing Market:
The propelling factors for the growth of the microbiology testing market include technological advancements in microbiology testing, rising incidences of infectious diseases and outbreak of epidemics such as COVID 19, growing healthcare expenditure, and rising private-public funding for research on infectious diseases.
Infectious diseases, such as HIV, human papillomavirus (HPV), and hepatitis B and C, are some forms of STDs that are severe and fatal, and thus the increasing incidences of such diseases are increasing the demand for the microbiology testing market. Increasing healthcare expenditure and the presence of better medical infrastructures, such as hospitals and clinical labs, are some other drivers augmenting the growth of the microbiology testing market.
Rapid growth observed in the geriatric population, increasing number of clinical researches in the field of clinical microbiology, rising incidences of infectious diseases, and increased funding, research grants, and public-private investments are some of the factors that are driving the microbiology testing market.
Rapid technological advancements are also being witnessed across the world that are anticipated to drive the microbiology testing market in the upcoming years. There are emerging economies, such as India and China, which may offer new growth opportunities for the microbiology testing market over the forecast period.
As per the scope of the report, microbial testing is an analytical technique that is utilized to determine a number of microorganisms in food, beverages, biological samples, and environmental samples. The microbial testing technique employs chemical, biological, biochemical, or molecular methods to identify and quantify the microbes. It is one of the important processes carried out in medical, healthcare, and food industries for the prevention of future product damages.
|Food and Beverage Testing Application|
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The diagnostics segment is expected to account for the largest share of the microbiology testing market. Some of the key factors driving the growth of this segment are the increasing prevalence of infectious diseases, improving healthcare expenditure, and technological advancements. The increasing prevalence of infectious diseases is a major factor boosting the segment. According to the Centers for Disease Control and Prevention, the number of visits to physician offices with infectious and parasitic diseases as the primary diagnosis was 15.5 million for the year 2017. With the advent of COVID 19 in the recent months, the segment growth has boosted enormously.
The pharmaceutical application segment is also expected to dominate due to the presence of well-established and globally accepted regulations, which govern the evaluation of microbial contamination during pharmaceutical manufacturing and raw material sourcing processes.
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The European region is expected to show the fastest growth for microbiology testing, and is anticipated to contribute notably toward the microbiology testing market over the forecast period. These can be attributed to the presence of advanced healthcare infrastructure in the region, along with various technological advancements witnessed in this region’s healthcare industry.
However, Asia-Pacific is also expected to grow better over the forecast period, due to the expanding R&D and innovative microbiology testing procedures and the increasing number of hospitals and testing laboratories.
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The microbiology testing market has witnessed new product launches, mergers and acquisitions, partnerships, joint ventures, and strategies adopted by the major players to gain competitive advantage. The companies are also introducing advanced microbiological automated systems that have high throughputs and are less time-consuming.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technological Advancements in Microbiology Testing
4.2.2 Rising Burden of Infectious Diseases and Outbreak of Epidemics
4.2.3 Rising Private-Public Funding for Research on Infectious Diseases
4.3 Market Restraints
4.3.1 Laboratory Reimbursement Issues
4.3.2 High Cost of Microbiology Instruments
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Pharmaceutical Application
5.1.2 Diagnostic Application
5.1.3 Food and Beverage Testing Application
5.1.4 Environmental Application
5.1.5 Cosmetic Application
5.1.6 Other Applications
5.2 By Product
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East & Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bio-Rad Laboratories Inc.
6.1.2 Abbott Laboratories
6.1.3 Becton Dickinson and Company
6.1.4 F. Hoffmann-La Roche Ltd
6.1.5 Bruker Corporation
6.1.6 Hologic Corporation
6.1.7 Cepheid Inc.
6.1.8 Biomerieux SA
6.1.9 Thermo Fisher Scientific Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments