Global Microbial Testing Market to Grow by $ 2.83 Billion During 2020-2024 | Featuring Abbott Laboratories, Agilent Technologies Inc., and bioMérieux SA among others | Technavio
December 31, 2020LONDON–(BUSINESS WIRE)–#GlobalMicrobialTestingMarket–Technavio estimates the global microbial testing market to grow by USD 2.83 billion, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by the high prevalence of food-borne diseases. However, the lack of skilled professionals might challenge growth.
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Microbial Testing Market: Application Landscape
Based on the application, the market saw maximum growth in the pharmaceutical segment in 2019. The segment is driven by the increase in investments in R&D by pharmaceutical companies. The market growth in the segment will be significant over the forecast period.
Microbial Testing Market: Geography Landscape
32% of the market’s growth originated from North America in 2019. Factors such as the growing focus on drug and vaccine discovery and development, recent advances in biotechnology and pharmaceutical research, and the presence of several vendors are driving the growth of the market in North America.
The US is the critical market for microbial testing in North America. Market growth in this region will be slower than the growth of the market in other regions.
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Major Three Microbial Testing Market Vendors:
Abbott Laboratories
Abbott Laboratories operates its business through segments such as Established Pharmaceuticals Products, Nutritional Products, Diagnostic Products, and Medical Devices. Key products offered by the company include PLEX-ID, RealTime HBV, C. DIFF CHEK-60, and Influenza A & B Test.
Agilent Technologies Inc.
Agilent Technologies Inc. operates its business through segments such as Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company offers a wide range of microbial test products and services in various markets such as meat specification assay, BenchCel Microplate Handler used in various microbial tests.
bioMérieux SA
bioMérieux SA operates its business through segments such as Clinical applications and Industrial applications. Key products offered by the company include BacT/ALERT 3D, CHEMUNEX Rapid Microbiology Analyzers, SCANRDI, Media Fill Testing Media, and API.
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Related Reports on Healthcare Include:
Global Antimicrobial Susceptibility Testing Market – Global antimicrobial susceptibility testing market is segmented by application (Clinical diagnostics, Drug discovery and development, and Others) and geography (North America, Europe, Asia, and ROW). Click Here to Get an Exclusive Free Sample Report
Global Bloodstream Infection Testing Market – Global bloodstream infection testing market is segmented by technology (conventional testing and non-conventional testing) and geography (North America, Europe, Asia, and ROW). Click Here to Get an Exclusive Free Sample Report
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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