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Rapid Microbiology Testing Kits Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments
Rapid Microbiology Testing Kits Global Market Report 2024
According to The Business Research Company's, The rapid microbiology testing kits market size has grown steadily in recent years. It will grow from $4.61 billion in 2023 to $4.82 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to rising prevalence of infectious diseases, increasing awareness of the benefits of rapid microbiology testing, food safety concerns, growing pharmaceutical manufacturing.
The rapid microbiology testing kits market size is expected to see steadily grown in the next few years. It will grow to $6.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to public health emergencies, foodborne pathogen detection, environmental monitoring, biopharmaceutical growth. Major trends in the forecast period include advances in rapid microbiology testing technology, customization and data integration, nanotechnology and microfluidics, point-of-care testing, digital microbiology, antimicrobial susceptibility testing.
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Market Drivers and Trends:
The rising number of infectious diseases is one of the major drivers for the rapid microbiology testing kits market. Rapid diagnostic tests are faster, more reliable, and more widely available than traditional tests. As the number of infectious disease cases increases, the need for tests to confirm these diseases also increases. With the increasing demand for microbiology tests, the need for rapid microbiology tests is increasing as it gives quicker results than normal microbiology tests. For example, according to the Centers for Disease Control and Prevention (CDC) Trusted Source, the number of visits to physician offices with infectious and parasitic diseases as the primary diagnosis was 15.5 million and the number of emergency department visits with infectious and parasitic diseases as the primary diagnosis was 3.7 million per year.
Technological advancements are an emerging trend in the rapid microbiology testing kits market. This is mainly because these technological advancements improve the reliability and efficiency of tests and testing methods. Automation in rapid microbial detection enables higher throughputs and greater accuracy in results. Similarly, robotic cassette handling, incubation, and imaging reduce the risks of miscounts, mid-test contamination, and incorrect data entry, which leads to fewer false positives and out-of-specification investigations. Fewer investigations then ultimately improve uptime and reduce delay and recall of tests. For example, Abbott Laboratories announced the next generation Alinity HQ Haematology Analyzer that is aimed to minimize errors and reduce manual steps in testing.
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Major Key Players of the Market:
Abbott Laboratories; Becton Dickinson and Company; Bruker Corporation; Charles River Laboratories International Inc.; Danaher Corporation; Don Whitley Scientific Limited; Merck KGaA; Neogen Corporation; Quidel Corporation; Rapid Micro Biosystems Inc.; Thermo Fisher Scientific; Bio-Rad Laboratories; Siemens Healthcare Diagnostics; Sysmex Corporation; Biomérieux; Sartorius Group; TSI Inc.; Vivione Biosciences; Gen-Probe; Hoffmann-La Roche Ltd; Orasure Technologies; Remel; Savyon Diagnostics Ltd.; Seegene Inc.; ThermoGenesis Corp.; Trinity Biotech plc; Veredus Laboratories Pte Ltd.; ZeptoMetrix Corporation; Hardy Diagnostics; Liofilchem s.r.l.; Microbiologics Inc.
Rapid Microbiology Testing Kits Market 2024 Key Insights:
• The rapid microbiology testing kits market size will grow to $6.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Surge In Infectious Diseases Drives Demand For Rapid Microbiology Testing Kits
• Technological Advancements Transform The Rapid Microbiology Testing Kits Market
• North America was the largest region in the rapid microbiology testing kits market in 2023
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