Microbial Identification Market Size, Share, Trends and Global Forecast
According to research report the global microbial identification market covers products and services that are used to detect, identify, and characterize different microorganisms. This market is expected to reach USD 3.00 billion by 2022 from USD 2.18 billion in 2017, at a CAGR of 6.6%. Factors driving the growth of this market include rising incidence of infectious diseases coupled with epidemic and pandemic events, increasing food safety concerns, technological advancements in microbial identification techniques, increasing healthcare spending and focus on healthcare infrastructure, and government initiatives and funding promoting microbial identification.
The development of new products is another major factor driving the growth of the microbial identification market. The continuous development of new products provides end users with advanced options for microbial identification. Use of MALDI-TOF MS (matrix-assisted laser desorption ionization time-of-flight mass spectrometry) for microbial identification is a key innovation in microbial identification. This technique has revolutionized microbial identification technique as it provides easy, rapid, high-throughput, low-cost, and efficient identification of microorganisms.
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On the basis of product and service, the microbial identification market is categorized into instruments, consumables, and services. The consumables segment is expected to grow at the fastest rate during the forecast period. The requirement of consumables in large numbers as compared to instruments is the main factor contributing to the high growth rate of this segment.
On the basis of method, the market is categorized into phenotypic, genotypic, and proteomics-based methods. The proteomics-based methods segment is estimated to grow at the fastest rate during the forecast period. The growth of this segment can be attributed to the high demand for proteomics-based methods on account of higher levels of sensitivity, accuracy, and specificity offered by them.
The microbial identification market has been segmented based on applications—diagnostic applications (human disease diagnosis and animal disease diagnosis), food testing, beverage testing, cosmetics and personal care products testing, pharmaceutical applications, environmental applications, and other applications. The diagnostic applications segment is the fastest growing application in the market. Increasing use of microbial identification for the diagnosis of infectious diseases in humans and animals is driving the growth of the market.
By end user, the microbial identification market is classified into hospitals, diagnostic laboratories, and blood banks; food manufacturing companies; beverage manufacturing companies; pharmaceutical companies and CROs; and other end users. The hospitals, diagnostic laboratories, and blood banks segment is estimated to grow at the fastest rate during the forecast period. The high prevalence of different infectious diseases, coupled with periodic outbreaks of pandemics is driving the demand for microbial identification in this end user segment.
The microbial identification market is geographically segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to have the fastest growth rate due to improving healthcare infrastructure, heavy burden of infectious diseases, and growing initiatives to promote the use of advanced technologies for microbial identification.
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Given the immense opportunities in major applications like clinical diagnosis; food and beverage testing; environmental applications; and pharmaceutical applications, market leaders and emerging players are increasingly focusing on the market in the segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies.
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