12-28-2017 09:54 AM CET - Health & Medicine

Global Microbial Identification Market to Reach Nearly US$ 1.4 Bn in Revenues by 2022

Press release from: Market Research Hub
Market Research HUB
Market Research HUB

The global microbial identification market is likely to witness steady growth during the assessment period 2017-2022, and reach a valuation of nearly US$ 1.4 Bn. Increasing emphasis on developing accurate and quick diagnostic procedures, combined with increasing healthcare spending in developing countries, is likely to provide an impetus to the growth of the market during the assessment period. These insights are according to the report “Microbial Identification Market: Food & Beverage Testing Applications to Represent Moderate Revenue Growth: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2022)” that has been added to the comprehensive repository of Market Research Hub (MRH).

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According to the report, there has been a growth in developing advanced microbial identification procedures in North America. The market in North America is led by the U.S., where high emphasis on R&D and favorable government policies are likely to favor market growth during the assessment period. By 2022, the North American microbial identification market is likely to reach a valuation of nearly 500 million dollars, growing at a CAGR of over 6%. In addition to North America, Europe and Asia Pacific excluding Japan (APEJ) are likely to provide growth opportunities to stakeholders in the microbial identification market.

To give readers detailed insights on the global microbial identification market, the report offers segment-wise analysis. The report has been segmented on the basis of product type into bacterial identification system, microbial enumeration systems, bacterial resistance identification system, microbiology analyzers, and parasitology analyzers. By end-user, the market has been segmented into pharmaceutical and biotechnology, independent research laboratory, diagnostic laboratory, and blood banks. On the basis of application, the key segments include diagnostic, environmental, food and beverage testing, and pharmaceutical. The key technology segments include phenotypic and genotypic.

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According to the report, bacterial identification and microbial remuneration systems are among the key segments in the market, whereas bacterial resistance identification systems remain the fastest growing segment. Adoption of microbial identification systems is highest among the pharmaceuticals and biotechnology segment. By technology, phenotypic testing is likely to account for higher revenues, whereas genotypic testing is projected to grow at a higher CAGR. Some of the leading players profiled in the global microbial identification market include Bruker Corporation, Danaher Corporation, Thermo Fisher Scientific, Inc., Shimadzu Corporation, Siemens Healthineers, QIAGEN N.V., Merck & Co Inc., bioMerieux S.A., Becton, Dickinson and Company, and Biolog, Inc.

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