Press release
Industrial Microbiology Market Report 2024: Strategies And Recent Developments
Industrial Microbiology Market
The Business Research Company offers in-depth market insights through Industrial Microbiology Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The industrial microbiology market size has grown strongly in recent years. It will grow from $14.51 billion in 2023 to $15.51 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increased demand for biopharmaceuticals, globalization of the pharmaceutical industry, focus on food safety, environmental monitoring, quality control in the beverage industry.
The industrial microbiology market size is expected to see strong growth in the next few years. It will grow to $20.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to increased bioprocessing in agriculture, rising demand for personalized medicine, expanding applications in energy production, stringent regulatory standards, increasing global health concerns. Major trends in the forecast period include emergence of new biotechnologies, digitalization and automation, technological advancements, customized microbial solutions, collaborations and partnerships.
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Market Segmentation:
The industrial microbiology market covered in this report is segmented -
1) By Product: Equipment And Systems, Reaction Consumables, Laboratory Supplies
2) By Test: Sterility Testing, Microbial Limits Testing, Bio-Burden Testing, Water And Environmental Testing
3) By End-Use: Food And Beverages, Pharmaceutical Biotechnology, Agricultural, Environmental, Cosmetic And Personal Care, Other End-Uses
Major Driver - The Impact Of Increased R&D Investment In Pharmaceutical Companies On The Growth Of The Industrial Microbiology Market
Increased R&D investment in pharmaceutical companies propels the growth of the industrial microbiology market going forward. R&D investment can be defined as the expenses undertaken by a company for developing, designing, and enhancing its offerings. Increased R&D investment can boost innovation and productivity and help use microbiology to improve healthcare, nutrition, and the environment. For instance, according to a report published by the European Federation of Pharmaceutical Industries and Associations, a Belgium-based pharmaceutical based trade association, in 2021, European health industries invested about €188.7 billion ($206 billion) in R&D in 2020, which accounted for 20.8% of total business R&D expenditure in the world. Further, in September 2022, according to UK Parliament published report, the government declared in March 2022 that it will increase R&D investment by £5 billion ($5.51 billion) to £20 billion (22.05 billion) per year by 2024/25. This investment will assist the government in meeting its goal of overall R&D investment (from all sectors) reaching 2.4% of GDP by 2027. Therefore, increased R&D investment in pharmaceutical companies will drive the growth of the industrial microbiology market.
Competitive Landscape:
Major companies operating in the industrial microbiology market report are Thermo Fisher Scientific Inc., Danaher Corporation, Bio-Rad Laboratories Inc., The Merck Group, Becton Dickinson and Company, Asiagel Corporation, Eppendorf Group, bioMérieux SA, Novamed Ltd., QIAGEN N.V., Sartorius AG, 3M Company, Agilent Technologies Inc., vermicon AG, Eurofins Scientific SE, MilliporeSigma, Hardy Diagnostics, Neogen Corporation, HiMedia Laboratories, BioConnections, Biomerica Inc., Bruker Corporation, Charles River Laboratories International Inc., GENEWIZ Inc., Luminex Corporation, Microbiologics Inc., Promega Corporation, Q Laboratories Inc., Rapid Micro Biosystems Inc., Shimadzu Corporation, TSI Incorporated
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Top Trend - The Impact Of Technological Advancements In The Industrial Microbiology Market
Technological advancements are a key trend in the industrial microbiology market. Major market players are concentrating on introducing new and advanced technologies to strengthen their position in the market. For instance, in January 2022, Becton, Dickinson, and Company, a US-based medical technology company, launched the BD Kiestra IdentifA system. This uses MALDI-ToF and automated colony technology, which can automate microbiological bacterial identification testing preparation. The lab technician utilizes BD Synapsys informatics to pick distinct bacterial colonies from a digital plate picture using the BD Kiestra IdentifA. The selected organisms are physically determined by sophisticated robotics, and the sample is prepared for specific identification testing. The BD KiestraTM IdentifA may reduce the risk of human mistakes when preparing samples for bacterial identification by automating what are often time-consuming manual tasks, resulting in more accurate diagnoses for patients.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Microbiology Market Characteristics
3. Industrial Microbiology Market Trends And Strategies
4. Industrial Microbiology Market - Macro Economic Scenario
5. Industrial Microbiology Market Size And Growth
…..
27. Industrial Microbiology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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