Oct 22, 2020   SOURCE: BusinessWire

Microbial Identification Market by Product & Service, Method, Technology, Application, & End-user - Global Forecast to 2025 - ResearchAndMarkets.com

The "Microbial Identification Market by Product & Service (Instrument & Software, Consumable, Service), Method (Phenotypic, Proteomic), Technology (Mass Spectrometry, PCR), Application (Diagnostic, Food Testing), End User (Hospital) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global microbial identification market is projected to reach USD 5,742.0 million by 2025 from USD 3,229.1 million in 2020, at a CAGR of 12.2% during the forecast period.

Growth in this market is largely driven by the rising incidence of infectious diseases and the increasing frequency of pandemics, technological advancements, increasing food safety concerns, and increasing government initiatives and funding to detect and control antimicrobial-resistant species

By consumables type segment, the panels/ID cards & media segment accounted for the fastest growing consumable segment of the microbial identification market

On the basis of product & service type, the consumables segment is further segmented into panels/ID cards & media, kits and other consumables. The panels/ID cards & media accounted for the fastest-growing segment of the consumables segment. Panels, ID cards, and media enable the easy and rapid identification of microorganisms and is a key factor driving market growth

By application, the diagnostic applications segment accounted for the largest share of the microbial identification market

Based on application, the microbial identification market is categorized into six segments- diagnostic applications, pharmaceutical applications, food testing, beverage testing, cosmetics and personal care products testing, environmental applications, and other applications. The diagnostic applications accounted for the largest share of the application segment due to the increasing use of microbial identification to diagnose infectious diseases in humans and animals.

Asia Pacific: The fastest-growing region in the microbial identification market.

The Asia Pacific region is estimated to grow at the highest CAGR in the microbial identification market during the forecast period, this is mainly due to the improving healthcare infrastructure, the heavy burden of infectious diseases, growing initiatives to control the spread of infectious diseases, and increasing investments by leading players in this region

North America: the largest share of the microbial identification market

North America accounted for the largest share of the microbial identification market. Technological advancements in microbial identification, increasing prevalence of infectious diseases, growing food safety concerns, and the presence of prominent players are the major drivers of the North American market.

Market Dynamics

Drivers

  • Rising Incidence of Infectious Diseases and Increasing Frequency of Pandemics
  • Technological Advancements
  • Increasing Food Safety Concerns
  • Increasing Government Initiatives and Funding to Detect and Control Antimicrobial-Resistant Species

Restraints

  • High Cost of Automated Microbial Identification Systems

Opportunities

  • Emerging Economies Present Significant Growth Opportunities
  • Bioterrorism Surveillance

Challenges

  • Complex Regulatory Frameworks That Delay the Approval of New Microbial Diagnostic Tests
  • Trends
  • Impact of COVID-19 on the Microbial Identification Market

Companies Mentioned

  • Accelerate Diagnostics, Inc.
  • Alifax S.R.L.
  • Avantor, Inc.
  • Becton, Dickinson and Company
  • Biolog, Inc.
  • Biomerieux Sa
  • Bruker Corporation
  • Creative Diagnostics
  • Danaher Corporation
  • Genefluidics, Inc.
  • Gradian Diagnostics
  • Himedia Laboratories
  • I2A Sa
  • Liofilchem S.R.L.
  • Merck Kgaa
  • Qiagen Nv
  • Shimadzu Corporation
  • Thermo Fisher Scientific Inc.
  • Trivitron Healthcare
  • Zhuhai Dl Biotech Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/2b0h5q