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Microbial Identification Methods Market Is Projected to Grow at a Compound Annual Growth Rate (CAGR) Of 6.64% during the Forecast Period

10-05-2023 08:40 AM CET | Health & Medicine

Press release from: The Insight Partners

Microbial Identification Methods Market

Microbial Identification Methods Market

According to our new research study on "Microbial Identification Methods Market Size and Forecast (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," the microbial identification methods market size is expected to grow from US$ 4,882.85 million in 2022 and is expected to reach a value of US$ 8,164.74 million by 2030; it is anticipated to record a CAGR of 6.64% from 2022 to 2030.

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The microbial identification methods market growth are increasing food safety concerns demanding microbial identification procedures and rising demand for microbial identification methods across various end users. However, the high cost of automated microbial identification systems and delay in the approval process of new microbial diagnostic tests due to complex regulatory framework hinder the microbial identification methods market growth.

The key market drivers for Microbial Identification Methods Market Includes, rising geriatric population across the globe along with significant increase in physically challenged population. Moreover, increased healthcare spending in developed nations is also expected to fuel market growth. Whereas, less awareness of Microbial Identification Methods in low income nations is expected to restrain market growth during forecast period.

The Emerging Players in the Microbial Identification Methods Market includes: Avantor Inc, Becton Dickinson and Co, bioMerieux SA, Merck KGaA, Thermo Fisher Scientific Inc, Bruker Corp, Shimadzu Corp, Accelerate Diagnostics Inc, Molzym GmbH & Co KG, and Biolog Inc are among the key companies operating in the microbial identification methods market.

These investments also bolster food safety and agricultural practices by supporting research to detect foodborne pathogens. Furthermore, governments often collaborate with private enterprises, creating public-private partnerships that drive innovation in microbial identification technologies. Overall, these initiatives and funding mechanisms play a pivotal role in safeguarding public health, advancing scientific knowledge, and driving economic growth by underpinning the microbial identification field.

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The microbial identification methods market, by type, is segmented into bacterial identification systems, microbial enumeration systems, bacterial resistance identification systems, microbiology analyzers, and others. The bacterial identification system segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022-2030. Bacterial identification systems are available in manual to automatic settings depending on the application. For example, VITEK 2, manufactured by bioMérieux SA and BD Phoenix Automated Microbiology System, is a fully automated system that performs bacterial identification and antibiotic susceptibility testing. A few application areas for bacterial identification systems are healthcare facilities, clinical labs, forensics, and pharmaceutical industries.

Factors such as growing demand for digital classrooms along with ascending demand from online gamers is contributing to the growth of market. Furthermore, increasing adoption of Microbial Identification Methods in retail sector and increasing user engagement with the help of Microbial Identification Methods for applications such as way finding will drive the growth of Microbial Identification Methods market during forecast period.

The research provides answers to the following key questions:
• What is the estimated growth rate of the market for the forecast period to 2030? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Microbial Identification Methods market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Microbial Identification Methods market?
• What are the prominent market trends influencing the development of the Microbial Identification Methods market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Microbial Identification Methods market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?

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Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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