Microbial Identification Market projected to reach $5.7 billion by...

Microbial Identification Market projected to reach $5.7 billion by 2025

Posted 2024-04-29 04:27:29

The global microbial identification market in terms of revenue was estimated to be worth $3.2 billion in 2020 and is poised to reach $5.7 billion by 2025, growing at a CAGR of 12.2% from 2020 to 2025.

Growth in this market is largely driven by the rising incidence of infectious diseases and the increasing frequency of pandemics, technological advancements, increasing food safety concerns, and increasing government initiatives and funding to detect and control antimicrobial-resistant species.

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The instruments segment accounted for the largest share of the product & service segment in the microbial identification market in 2019.

On the basis of product & service, the microbial identification market is broadly segmented into instruments & software, consumables and services. In 2019, instruments & software segment accounted for the largest share of the microbial identification products market owing to the various technological advancements in microbial identification systems.

The phenotypic segment accounted for the largest share of the method segment in the microbial identification market in 2019.

Based on methods, the market is categorized into three method segments— phenotypic, proteomics-based and genotypic methods. The phenotypic methods segment accounted for the largest share of the microbial identification market in 2019. The large share of this segment can be attributed to the wide usage of phenotypic methods for microbial identification across the healthcare, food & beverage, pharmaceutical, and environmental sectors

The Asia Pacific region is the fastest growing region of the microbial identification market in 2019.

In 2019, Asia Pacific region accounted for the fastest growing region of the microbial identification market. It is also estimated to grow at the highest CAGR in the microbial identification market during the forecast period, this is mainly due to the improving healthcare infrastructure, the heavy burden of infectious diseases, growing initiatives to control the spread of infectious diseases, and increasing investments by leading players in this region.

Some of the leading players in the microbial identification market include bioMérieux SA (France), Becton, Dickinson and Company (US), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Bruker Corporation (US), Shimadzu Corporation (Japan), QIAGEN NV (Netherlands), Avantor, Inc. (US), and Biolog, Inc. (US)

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