The report “Rapid Microbiology Testing Marketby 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%.
The Growth in the rapid microbiology testing market can be attributed to factors such the rising prevalence of infectious diseases; ongoing technological advancements; increasing food safety concerns; and increased funding, research grants, and public-private investments. Emerging countries and a growing focus on the detection of antimicrobial resistance are expected to provide significant growth opportunities in the market. On the other hand, reimbursement concerns and the high cost of automated instruments are the key factors that are expected to restrain market growth to a certain extent during the forecast year.
Recent Developments in Industry:
- 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
Request Research Sample Pages:
Geographically, the 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 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.
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.
BioMérieux (France) held the leading position in the global market. 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. For instance, in July 2016, the company enhanced the VITEK MS system’s performance by improving and updating its database and reagent kits to include the identification of 297 new species. This helped the company to strengthen its position and expand its revenue in the rapid microbiology testing market.
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 market. The company has launched innovative products in recent years, such as MicroScan and the DxN VERIS Molecular Diagnostics System. These products have helped the company increase its revenue and maintain its position in the rapid microbiology testing market.
Download PDF Brochure: