Published: April 2016
Report Code: LS10566
Category : Biotechnology
The global microbial identification market accounted for $951.8 million revenue in 2015, and it is expected to grow at a CAGR of 6.0% during 2016-2022. The consumables segment accounted for largest share in the global microbial identification products market in 2015; whereas, among the various end-users, the hospital segment accounted for the highest share in the global market during the same year. The global microbial identification market is witnessing high growth rate, due to the growing incidence of infectious diseases, technological advancement in microbial identification instruments, and increasing healthcare expenditure. Also, the growing food safety concerns is further propelling the growth of the global microbial identifications market.
GLOBAL MICROBIAL IDENTIFICATION MARKET BY PRODUCT $M (2012–2022)
Traditional identification techniques require subculture on selective medium, gram staining or biochemical testing and colony isolation, which are time consuming and require intensive effort. The advances in technology have made detection and microbial identification more specific, faster, sensitive and convenient, than traditional assays. Genotypic microbial identification provides technological advancement in the field of microbial identification. It is rapid, effective, consumes less time, and generates high throughput.
The increasing food safety concern is propelling the growth of the global microbial identification market. Food safety and quality is an important public health issue. The increasing presence of toxins, chemicals, and pathogens in food is a major concern for the individuals these days. Food contamination can originate from many sources, and food safety is affected by the quality of the water used in processing and production of food. The detection of microorganisms in food is essential for quality control and food safety plan. Both government authorities and food companies use microbiological analysis to monitor contamination and analyze its trends to detect emerging risks. Thus, the increasing concern for food safety would increase the demand for microbial identification devices, in order to maintain the quality of food.
The healthcare expenditure is also increasing worldwide, due to increasing incidences of diseases and innovation of new medical treatments. The healthcare cost is high due to use of expensive new technologies and drugs, increased cost of healthcare goods and services, high administrative cost, growing geriatric population and physician fees. According to the WHO, the total healthcare expenditure is increasing globally, which is leading to the improvement in healthcare infrastructure. This increase in healthcare expenditure leads to increase in affordability and accessibility of the new test and treatment for various conditions.
The restraints impacting the growth of the global market include the high cost of automated microbial identification system. Furthermore, the safety, performance, and consistent quality of genetically engineered products are necessary facets, which need stringent evaluation for international public health. These stringent regulatory requirements further hamper the growth of the market.
The key companies operating in the global Microbial identification market include Danaher Corporation, Becton, Dickinson and Company, Siemens AG, Shimadzu Corporation, BioMerieux SA, Thermo Fisher Scientific Inc., Qiagen N.V., Midi Inc, Charles River Laboratories Inc., Biolog Inc. and Bruker Corporation.