$5+ Billion Rapid Microbiology Testing Market - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 19, 2018--The “Rapid Microbiology Testing Market by Method (Growth, Viability), Product (Automated Microbial Identification & AST System, PCR, Reagent), Application (Clinical Diagnosis, Environmental), End User (Labs, Hospitals, Industry) - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The global rapid microbiology testing market is projected to reach 5.09 billion by 2023 from USD 3.45 billion in 2018 at a CAGR of 8.1%.
Growth in the rapid microbiology testing market can be attributed to factors such as increasing food safety concerns; the rising prevalence of infectious diseases; and increased funding, research grants, and public-private investments. However, reimbursement concerns and the high cost of rapid microbiology testing products are the major factors restricting market growth.
On the basis of application, the global rapid microbiology testing market has been segmented into clinical disease diagnosis, food & beverage testing, pharmaceutical & biological drug testing, cosmetics and personal care products testing, environmental applications, research applications, and other applications. The food & beverage testing rapid microbiology testing segment is expected to grow at the highest rate during the forecast period. Factors such as increasing food production, stringent quality control and quality assurance processes ensuring food safety, and the growing demand for packaged food products are driving growth in this market segment.
On the basis of end user, the rapid microbiology testing market is segmented into diagnostic laboratories & hospitals, food & beverage companies, pharmaceutical companies, CROs, and other end users. The diagnostic laboratories & hospitals segment is expected to account for the largest share of the market in 2018. This is mainly due to factors such as the increasing prevalence of infectious diseases, improving healthcare expenditure, and technological advancements in rapid microbial testing.
The APAC market is expected to register the highest growth rate during the forecast period.
Growth in this segment is mainly due to the increasing healthcare expenditure and growing initiatives to promote the use of advanced rapid microbiology testing technologies in Asia Pacific countries. Moreover, as markets in developed countries are increasingly becoming saturated, manufacturers and suppliers of rapid microbiology testing products are also shifting their focus towards the Asian market, thereby driving the growth of this market during the forecast period.
The major players in the market include bioMrieux SA (France), Danaher Corporation (US), and Becton, Dickinson and Company (US).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Rapid Microbiology Testing Market, By Method
7 Rapid Microbiology Testing Market, By Product
8 Rapid Microbiology Testing Market, By Application
9 Rapid Microbiology Testing Market, By End User
10 Rapid Microbiology Testing Market, By Region
11 Competitive Landscape
12 Company ProfilesAbbott Laboratories Becton, Dickinson and Company Biomrieux Bruker Corporation Charles River Laboratories International, Inc. Danaher Corporation Don Whitley Scientific Limited Merck KGaA Neogen Corporation Quidel Corporation Rapid Micro Biosystems, Inc. Sartorius Group Thermo Fisher Scientific TSI, Inc. Vivione Biosciences, LLC For more information about this report visit https://www.researchandmarkets.com/research/mzzldp/5_billion_rapid?w=4
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Related Topics:In Vitro Diagnostics
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY
SOURCE: Research and Markets
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PUB: 09/19/2018 09:53 AM/DISC: 09/19/2018 09:52 AM