The global microbial identification market generated $951.8 million revenue in 2015, which is expected to reach $1.4 billion by 2022, advancing at a CAGR of 6.0% during the forecast period. Rising incidence of infectious diseases and increasing healthcare expenditure are the most promising factors that positively impact the growth of the market. Besides, introduction of technologically advanced products is also driving the demand for microbial identification products.
Based on product, the microbial identification market is categorized into consumables, instruments and software, and services. Among these, the consumables category is expected to hold the largest share in the market. On the other hand, hospitals are the major end users of microbial identification products. The market in this end-user category is expected to progress at a CAGR of 6.4% during the forecast period.
Surging Incidence of Infectious Diseases to Play a Pivotal Role in the Growth of the Market
Globally, increasing incidence of various infectious diseases has become a major concern, and is expected to majorly fuel the demand for microbial identification products. Infectious diseases, such as tuberculosis, hepatitis, and measles, are mainly caused due to pathogenic microorganisms like bacteria and viruses. Microbial identification products play an important role in the diagnosis of such diseases in patients and are now being greatly adopted by hospitals and other healthcare settings. Moreover, the demand for products is increasing due to their ability of quick identification of microorganisms for better patient care. These factors will fuel the growth of the microbial identification market in the coming years.
It is important that microorganisms that lead to the contamination of food need to be detected timely. Therefore, rising food safety concerns in almost all regions are also predicted to support the microbial identification market growth in the coming years, as microbial identification products are being largely adopted by food and beverage manufacturing companies to detect those microorganisms and prevent the food from spoilage.
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Microbial Identification Market Competitive Landscape
Becton, Dickinson and Company, Danaher Corporation, Siemens AG, Shimadzu Corporation, BioMerieux SA, Thermo Fisher Scientific Inc., Qiagen N.V., Midi Inc., Charles River Laboratories Inc., Biolog Inc., and Bruker Corporation are some major players operating in the global microbial identification market.
MICROBIAL IDENTIFICATION MARKET SEGMENTATION
Market Segmentation by Product
Market Segmentation by Method
Market Segmentation by Application
Market Segmentation by End User
Market Segmentation by Geography