Microbial Identification Market Overview
The rising prevalence of infectious diseases is one of the major factors driving the demand for microbial identification products across the world. Infectious diseases such as hepatitis, measles, and tuberculosis are primarily caused because of pathogenic microorganisms such as viruses and bacteria. As microbial identification products help medical practitioners diagnose these diseases, they are increasingly being adopted by several healthcare settings. Moreover, these products help healthcare professionals provide better patient care by quickly identifying the microorganisms responsible for the disease.
Another major factor propelling the requirement for these products is the increasing concerns being raised over food safety across the world. Many food and beverage companies around the world are rapidly adopting microbial identification products. For detecting the microorganisms contaminating and spoiling the food items. The development of technologically advanced methods and processes has made the microbial identification process faster. More accurate than the conventional assays. These processes are highly cost-effective and provide high throughput time.
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Microbial Identification Market Type
For example, the MALDI-TOF method is a very popular method, as it doesn’t require a large number of consumables. Has a low cost and provides quicker results. Due to these factors, the demand for microbial identification methods is rising sharply. This is in turn causing the expansion of the global microbial identification market. According to the forecast of P&S Intelligence, the market value will grow from $951.8 million in 2015 to $1.4 billion by 2022.
The market is also expected to advance at a CAGR of 6.0% between 2016 and 2022. Instruments and software, services, and consumables are the most widely used types of microbial identification products across the world. Out of these, the demand for consumables is predicted to surge sharply in the coming years. On the other hand, the demand for instruments and software is expected to grow at the highest rate in the upcoming years.
Microbial Identification Market Size
Pharmaceutical and biotech companies, hospitals, food, water, and beverage producers, government environmental agencies. Research laboratories and blood banks are the major end users of microbial identification products. Out of these, the requirement for microbial identification products was found to be the highest in hospitals in the past years. Moreover this requirement is expected to remain quite high in the upcoming years as well. Mainly because of the increasing healthcare expenditure in several countries and the expanding patient pool in hospitals.
Geographically, the demand for microbial identification products is predicted to surge rapidly in Asia-Pacific (APAC) in the forthcoming years. This is attributed to the burgeoning requirement for these products in India, China, and Japan. Furthermore, the growing demand for these products in blood banks, research institutes. Biotechnology and pharmaceutical companies is also pushing up their sales in APAC. In this region, Japan will witness the highest revenue generation from the sales of these products in the coming years.
Hence, it can be safely said that the demand for microbial identification products will surge in the forthcoming years. Primarily because of the growing incidence of infectious diseases and the increasing concerns being raised over food safety all over the world.
With rapid technological advancements, microbial identification methods all over the world are becoming more accurate and faster than traditional assays every year. These methods are highly cost-effective and offer high throughput time. For example, the MALDI-TOF method is a very popular method, on account of its ability to provide faster results and its minimal consumable requirements. Besides rapid technological innovations, the growing prevalence of various infectious diseases is also fueling the demand for microbial identification processes across the world.
Microbial Identification Market Trends
Hepatitis, measles, and tuberculosis are some of the highly prevalent infectious diseases around the world. These diseases are mainly caused by pathogenic microorganisms such as viruses and bacteria. Moreover the microbial identification products are used heavily in hospitals and various other healthcare facilities for quickly diagnosing these diseases in order to provide better patient care. Additionally, the increasing concerns being raised in several countries over food contamination are also pushing up the demand for microbial identification processes.
This is because it is very necessary to quickly detect the microorganisms that cause food contamination. Many food and beverage companies around the world are rapidly adopting microbial identification products for contaminating microorganisms, which, in turn, allows them to prevent food spoilage. Because of these reasons, the requirement for microbial identification methods is growing rapidly all over the world. This is fueling the expansion of the global microbial identification market.
Microbial Identification Market Outlook
Instruments and software, services, and consumables are the most widely used microbial identification products across the world. Out of these, the demand for consumables is predicted to rise rapidly in the coming years. Phenotypic and genotypic methods are the two major microbial identification methods used around the world. Between these, the adoption of the phenotypic method is currently being observed to be higher across the world. Moreover, the popularity of this method will soar in the future years.
Depending on end users, the microbial identification market is divided into pharmaceutical and biotech companies, hospitals, food, water, and beverage manufacturers, government environmental agencies, research laboratories, and blood banks categories. As per the findings of P&S Intelligence, a market research company based in India, the hospitals category is currently recording the highest growth in the market. Furthermore, this category is predicted to demonstrate huge expansion in the market in the forthcoming years.
Microbial Identification Market Trends
Geographically, the microbial identification market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the coming years. This will be because of the growing requirement for microbial identification products in the regional countries such as India, China, and Japan. Furthermore, the mushrooming requirement for these products in the blood banks, research institutes, and biotechnology and pharmaceutical companies is massively boosting the demand for microbial identification methods in this region.
Hence, it is safe to say that the demand for microbial identification methods and products will soar all over the world in the upcoming years, primarily because of their growing requirement in various healthcare facilities and research organizations and the rising prevalence of infectious diseases.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings
This research offers actual historical market size for the period 2012 – 2014, estimate for 2015, and forecast for the period 2016 – 2022 of the global microbial identification market in terms of value in the U.S. dollars.
GLOBAL MICROBIAL IDENTIFICATION MARKET
- By Product – Consumables, Instruments and Software and Services
- By Method – Phenotypic Method and Genotypic Method
- By Application – Diagnostic Application, Food and Beverage Testing, Pharmaceutical Application and Environmental Application
- By End-Users – Hospitals, Pharmaceutical & Biotech Companies, Food, Water, and Beverage Manufacturers, Research Laboratories, Government Environmental Agencies, Blood Banks and Others
- By Region – North America, Central and Eastern Europe, Western Europe, Asia-Pacific, Latin America and Middle East and Africa
P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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