(EMAILWIRE.COM, May 26, 2021 ) The 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”, is expected to reach USD 5.09 billion by 2023 from USD 3.45 billion in 2018, at a CAGR of 8.1%.

Growth Driver- Technological advancements;

Over the years, there has been a gradual shift from conventional microbiology testing toward rapid testing methods. This shift has been driven by the introduction of newer and faster technologies to avert the need for the biological amplification of bacteria for detection. Rapid advancements in the field of microbial testing help to overcome limitations such as long procedural times and long exposure to pathogenic strains with conventional testing methods. Continuous technological advancements in microbiology testing, in terms of efficacy, efficiency, accuracy, faster results, and improved functionality, are generating increased interest among clinical laboratories, hospitals, academic institutes, research laboratories, and pharmaceutical and biotechnology companies.

These tests provide a cost-effective alternative for microbial identification by reducing the per procedure consumable cost. Clinical diagnostics, food and beverage testing, and environmental applications use rapid technologies in microbial identification to identify microbes from different samples.

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The instruments segment is expected account for the largest share;

Based on product, the global rapid microbiology testing market is segmented into instruments, reagents & kits, and consumables. In 2018, the instruments segment is expected to account for the largest share of the market owing to factors such as the significant adoption of modern laboratory instruments in the research and academic sectors (coupled with growing industry-academia collaborations for genomic research) and the ongoing trend of laboratory automation among clinical laboratories.

Geographical View in-detailed:

The Rapid Microbiology Testing Market is 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 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 Key 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.

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BioMérieux (France) held the leading position in the global market in 2017. The company has a robust product portfolio and a strong geographical presence in more than 150 countries across the world. The company has a comprehensive range of solutions for rapid microbial identification, resistance detection, and the diagnosis of bacterial infection. In 2017, the company focused extensively on research and development efforts to accelerate growth, with ~13.3% of its sales invested in R&D. This heavy investment in R&D is driving the launch of new and technologically improved products by the company.

Danaher is one of the leading companies in the healthcare and life science research industry. The company focuses on acquisitions, partnerships, and new product launches to strengthen its market position. Danaher acquired many companies from 2011–2018, including Beckman Coulter Inc. (one of the key companies in the life sciences and diagnostics market in the US), Cepheid (US), Siemens Healthineers’ clinical microbiology business, and Xitogen Technologies Inc. (China) with the aim to expand its molecular diagnostics product portfolio and increase its market share in the rapid microbiology testing market. The company has launched innovative products in recent years, such as MicroScan and the DxN VERIS Molecular Diagnostics System.