Microbiological testing services help reduce the potential risk of microbial damage and maintain the microbiological quality of products. The microbial testing technique comprises biochemical, molecular methods, chemical, or biological methods to identify and quantify microbes. Market Research Future predicted that the global microbiology testing market would reach the total valuation of USD 5409.1 6 million at a CAGR of 10.4% in the forecast period, 2014-2023.
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Infectious diseases, such as human papillomavirus (HPV), hepatitis B and C, and HIV are some serious and potentially fatal forms of sexually transmitted diseases. Due to the increasing incidence of these diseases, the demand for microbiological testing is increasing. Growing health care spending and the presence of better medical infrastructure, such as clinical laboratories and hospitals, are some additional factors supporting the growth of the microbiological testing market.
The rapid growth observed in the geriatric population, the increasing number of clinical microbiology studies, the rise in occurrences of infectious diseases, and the funding, research grants, and public-private investments are some of the factors that are driving the growth of the global microbiological testing market.
Technological advancements, an increasing number of infectious disease cases, disease surveillance programs, stricter standards, and outdated and traditional laboratory techniques are the most vital factors for market growth. However, inaccurate results and the high cost of reagents and instruments may limit market growth.
The global microbiology testing market is broadly bifurcated on the basis of product type, application, and end-users.
The global microbiology testing market is divided based on the product type such as instruments, consumables & accessories, pharmaceuticals, and chemicals & reagents. The pharmaceuticals application is anticipated to contribute a noteworthy share in terms of demand in the global market.
The application segment of the global microbiology testing market is diversified into gastrointestinal infections, sexually transmitted infections, urinary tract infections, and respiratory infections.
Moreover, the global market is also classified based on end-user, such as academic and research institutes, independent laboratories, and hospital associate laboratories.
North America holds an influencing position in the global microbiology testing market during the forecast period. This growth trend accredited to the swift adoption of advanced products and techniques. The European market for microbiology testing is predicted to be the second-largest amid the forecast period. Changing laboratory practices and growing innovation is anticipated to boost the growth of the market in this region.
The Asia Pacific region is considered the fastest growing market due to increased funding for research and development, health infrastructure development, increased awareness of microbiological testing, government initiatives to improve public health, and increased investment from key players. In addition, South Korea had a 9.2% market share in the region in 2016.
The Middle East and Africa regional markets are set to grow steadily due to limited access to health facilities, lack of knowledge of new microbiological testing techniques, reduced funding for research and development, and limited equipment availability.
The key players supporting the innovation and development of microbiology testing equipment and procedures include Alere, BD, Beckman Coulter, Inc., Hoffmann-La Roche Ltd, Biomérieux SA, Thermo Fisher Scientific Inc, and Cepheid. The majority of the industry giants are focusing on mergers with Medtech companies and startups to acquire better testing solutions. With new players entering the sector, the global microbiology testing market might witness fierce competition in the coming future.
- UK lab and product service provider Source will spend $ 650,000 to improve processing time for Irish customers. This investment extends the current range of on-site product and laboratory vendor services to reduce lead times, enabling faster customer feedback, and minimizing the risk of sample storage. Affordable, high-quality microbiology services and sterility testing are increasingly needed in the food, pharmaceutical, and cosmetic industries in the UK and Ireland.
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