(PharmaNewsWire.Com, April 30, 2020 ) 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 are driving the growth of Microbial Identification Market.
How much is the Microbial Identification Market worth?
MarketsandMarkets forecasts the microbial identification market is expected to reach USD 3.00 Billion by 2022 from USD 2.18 Billion in 2017, at a CAGR of 6.6% during the forecast period. 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.The global microbial identification market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2017, North America accounted for the largest share of this market majorly due to increasing adoption of microbial identification techniques for research purposes; rising prevalence of infectious diseases.
Instruments are estimated to account for the largest market share in 2017
On the basis of product and service, the microbial identification market is classified into instruments, consumables, and services. The instruments are expected to lead the global microbial identification market in 2017. Factors driving the growth of this segment include the wide use of instruments across applications and technological advancements, which have led to the launch of innovative products.
The phenotypic methods segment is estimated to dominate the market in 2017
By method, the market is segmented into phenotypic, genotypic, and proteomics-based methods. The phenotypic methods segment is anticipated to account for the largest share of the global microbial identification market in 2017. These methods are cost-effective, easy to perform, and can deliver results rapidly. Therefore, they are widely adopted across industries, which is a major factor responsible for the large share of this segment.
By end user, the hospitals, diagnostic laboratories, and blood banks segment is estimated to command for the largest share of the market during the forecast period
On the basis of end user, the microbial identification market is categorized 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 microbial identification market in 2017. The heavy burden of different infectious diseases, along with periodic outbreaks of pandemic and epidemic diseases are the key factors driving the growth of this end user segment.
Who are the leading vendors operating in Microbial Identification Market?
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) 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.
# In 2016, the Becton, Dickinson and Company (US) launched the BD Phoenix M50 ID/AST system to identify bacteria and detect antimicrobial resistance.
# In 2017, the Thermo Fisher Scientific Inc. (US) partnered with SpeeDx Pty. Ltd. (Australia) with a view to introduce diagnostic tests in the US market.
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