Microbiology Testing Market to exceed USD 11.9 billion by 2032, Says Graphical Research Powered by GMI
Microbiology testing industry is expected to witness a robust CAGR of 9.3%, driven by technological advancements in microbiology testing and rising incidence of infectious diseases.
Selbyville, Delaware, June 12, 2023 (GLOBE NEWSWIRE) —
Microbiology Testing Market size is expected to surpass USD 11.9 billion by 2032. Rising incidences of infectious diseases, foodborne illnesses, and healthcare-associated infections are increasing the need for preventing and controlling these diseases. Microbiology testing plays a crucial role in identifying pathogens, monitoring antimicrobial resistance, and ensuring the safety of food, water, and healthcare environments. Furthermore, the growing global population, changing dietary habits, and international food trade have heightened the need for effective food safety measures, encouraging the development of microbiology testing in the food & beverage industry.
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Reagents segment to amass substantial gains
the microbiology testing market is segregated into instruments and reagents. The growing number of global diagnostic tests is boosting the demand for high-quality reagents, supplementing segment growth. Moreover, the introduction of molecular diagnostics techniques, such as polymerase chain reaction (PCR) and nucleic acid amplification tests (NAATs), has increased the demand for specialized reagents to enhance the accuracy and efficiency of microbiological testing.
Diagnostic centers to lead the industry landscape
The microbiology testing market is classified into hospitals, ambulatory surgical centers, diagnostic centers, and others. The industry share from the diagnostic centers segment will exhibit a strong CAGR through 2032 driven by the surge in the presence of diagnostic centers across the globe. As healthcare facilities increasingly invest in advanced testing equipment and skilled personnel, the availability of microbiological testing services has increased, leading to a higher demand for these services in diagnostic centers.
Asia Pacific to hold a prominent market share
APAC microbiology testing market is estimated to showcase considerable development over 2023-2032, attributed to robust healthcare infrastructure and burgeoning population in the region. Moreover, supportive government initiatives and policies to encourage investment in healthcare infrastructure and promote the adoption of advanced diagnostic technologies are facilitating the regional market gains. For instance, the Union Budget 2023-24 of India increased GST exemption making the diagnostics business cost-effective in the country. The new policy will encourage investments in microbiology testing programs.
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Major microbiology testing market players
Some of the key players profiled in the microbiology testing industry report include Abbott Laboratories, Beckman Coulter, Inc., Agilent Technologies Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., Biomerieux SA, Bruker Corporation, F. Hoffmann-La Roche Ltd, Shimadzu Corporation, Danaher Corporation (Cepheid Inc.), Hologic Corporation, NEOGEN Corporation, Merck KGaA, QIAGEN, and Thermo Fisher Scientific Inc., among others.
Microbiology testing industry news
- In January 2022, Becton, Dickinson and Company, a medical equipment firm, introduced smart connected robotics to automate the microbial identification process. With this, the company aimed to attain a competitive edge in the healthcare automation sector.
- In April 2022, Shimadzu Corporation, a medical science firm, teamed up with TetraScience to offer their pharmaceutical partners a range of scientific data through Shimadzu’s Lab Solutions Software and the Tetra R&D Data Cloud.
Partial Table of Contents (ToC) of the report:
Chapter 3 Microbiology Testing Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
18.104.22.168 Technological Advancements in Microbiology Testing
22.214.171.124 Rising incidence of infectious diseases and outbreak of epidemics
126.96.36.199 Increasing demand for point-of-care testing
188.8.131.52 Rising private-public funding for research on infectious diseases
3.2.2 Industry pitfalls & challenges
184.108.40.206 High cost of microbiology instruments
220.127.116.11 Dearth of skilled professionals
3.3 Growth potential analysis
3.3.1 By product
3.3.2 By test type
3.3.3 By application
3.3.4 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Reimbursement scenario
3.7 Key market trends
3.8 Technology landscape
3.9 Future market trends
3.10 Value chain analysis
3.11 Gap Analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Vendor matrix analysis
4.5 Competitive positioning matrix
4.6 Strategy dashboard, 2022
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