(EMAILWIRE.COM, March 05, 2021 ) According to the new market research report “Rapid Microbiology Testing Market by Method (Growth, Viability), Product (Automated Microbial Identification & AST System, PCR, Reagent), Application (Clinical Diagnosis, Environmental), End User (Labs, Hospitals, Industry) – Global Forecast” published by MarketsandMarkets™.

Revenue Growth Opportunities:

The Global Rapid Microbiology Testing Market is expected to 5.09 billion by 2023 from USD 3.45 billion in 2018, growing at a CAGR of 8.1%

Recent Developments in Microbiology Testing Market:

# In 2018, Becton, Dickinson and Company (US), received CE Mark for its next-generation molecular screening test for antibiotic-resistant carbapenemase-producing organisms (CPOs) to be used on BD MAX system

# In 2017, Abbott completed the acquisition of Alere, to expand its product portfolio and strengthen its market position in the rapid microbiology testing market

# In 2017, Merck KGaA (Germany), signed agreement with OpGen, Inc. (US), to develop rapid diagnostics and information technology products to help combat the threat of antimicrobial resistance

# In 2016, bioMérieux (US), acquired Astute Medical Inc. to expand its immunoassays product portfolio.

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Based on method,

the global rapid microbiology testing market is divided into five segments-growth-based, viability-based, cellular component-based, nucleic acid-based, and other testing methods. The growth-based rapid microbiology testing segment is expected to account for the largest share of the market in 2018. The large share of this segment can be attributed to factors such as the ease of processing (this method uses conventional liquid or agar media), the limited requirement of skilled professionals, and supportive government regulations.

On the basis of application,

the rapid microbiology testing market is segmented into clinical disease diagnosis, food & beverage testing, pharmaceutical & biological drug testing, cosmetics and personal care products testing, environmental applications, research applications, and other applications. The clinical disease diagnosis application segment is expected to dominate the microbiology testing market during the forecast period. This can primarily be attributed to the increasing use of rapid microbiology testing for the diagnosis of infectious diseases in humans; rising emphasis on effective and early disease diagnosis across major markets; and the introduction of advanced, accurate, and rapid methods for faster clinical diagnosis.

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Geographical Scenario:

Segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global rapid microbiology testing market during the forecast period (2018–2023). The large share of this market can be attributed to the growing technological advancements in the field of rapid microbial testing, rising incidence of infectious diseases, and growing food safety concerns. In addition, the region has supportive government initiatives that help create awareness and promote the adoption of advanced microbial testing devices among key end users, thereby propelling the growth of the market in North America.

Global Leaders:

The major players operating in the rapid microbiology testing market include bioMérieux SA (France), Danaher Corporation (US), and Becton, Dickinson and Company (US), among others.