ESOMAR-certified consulting firm Future Market Insights’ (FMI’s) report forecasts the global industrial microbiology market to exhibit steady growth, surpassing a valuation of US$ 13,3072.73 Mn by 2021-end.
Growing application of industrial microbiology within pharmaceutical and food & beverage industry across China, the U.S., Germany and India will bolster the demand of industrial microbiology across the globe.
As per the FMI’s analysis, the industrial microbiology market across the U.S. and India is anticipated to expand at an impressive rate over the forecast period.
Growing adoption of sterility and bio-burden testing within pharmaceutical industry will foster the sales of industrial microbiology products.
Increasing research and development activities along with the increasing drug development within biopharmaceutical industry across the U.S., France, and India will bolster the market growth in the upcoming decade.
Increasing applications in pharmaceutical excipients have encouraged the adoption of sterility and bio-burden testing for the quality testing of drugs and micro-organisms. However, dearth of skilled labour and high-cost production is likely to hamper the growth of industrial microbiology.
Due to unprecedented outbreak of COVID-19, sales of industrial microbiology declined by 1.95%, exhibiting a CAGR at 4.95% during the forecast period.
However, with rising initiatives to reduce the pollution and improve the wastewater treatment efficiency, industrial microbiology market valuation will reach US$ 21,566.24 Mn by 2031.
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Key Takeaways from FMI’s Industrial Microbiology Market Study
- Pharmaceutical industry is anticipated to be the primary end-user of industrial microbiology market
- Sterility testing is the most preferred test type among the key players backed by the increased application in pharmaceutical industry
- Increasing application of industrial microbiology in food & beverages is expected to foster the sales, especially across the U.S. and India
- In terms of product, reaction consumables is expected to lead the segment over the forecast period
- India is expected to emerge as a lucrative market owing to the expansion of healthcare industry and growing application in pharmaceutical industry
- Germany is anticipated to be the most lucrative country, accounting for over 31% of global market share
- China is anticipated to lead the East Asia’s market during the forecast period, registering a stellar growth during the assessment period
- The U.S. is estimated to be the largest market for industrial microbiology market attributed to the growing consumers demand and surge in adoption of sterility testing in pharmaceutical industry
“Key players are increasing research & development activities to facilitate drug discovery and food testing within the pharmaceutical & food industry. This, in turn, is likely to widen growth opportunities for the market players over the coming years,” says the FMI analyst.
Future Market Insights, in its updated report, have profiled prominent players operating in industrial microbiology market which include Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Asiagel Corporation, Eppendorf AG, bioMérieux SA, Novamed., QIAGEN, Sartorius AG, 3M, Merck KGaA and Danaher Corporation among others.
Manufacturers of industrial microbiology systems are actively focusing on expanding their product portfolios to improve their revenue generation.
As per FMI, the market is dominated by top players such as Thermo Fisher Scientific Inc. and BioMerieuxx Inc. making the market consolidated.
Targeted mergers and collaborations with top healthcare and pharmaceutical companies is anticipated to be the key strategy to maintain their top position in the industry.
New product launches with the expansion of their existing product range is one of the common market strategy for the key players. For instance:
In March 2020, leading player, Danaher Corporation announced the acquisition of the biopharma business from the Life Sciences Division of General Electronics. With this acquisition, the company has been renamed as Cytiva and will be functioning as a standalone company within the Danaher Corporation.
More Insights on the Global Industrial Microbiology Market
Future Market Insights, in its latest report, offers an incisive coverage on the global industrial microbiology market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is classified on the basis of product type (equipment and systems, reaction consumables, and others), test type (sterility testing, microbial limits testing, and bio-burden testing), and end user (pharmaceutical & biotechnology, food & beverages, agriculture & environmental, and personal care products) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)
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Key Questions Answered in the Report
- What is the current industrial microbiology market value?
The industrial microbiology market is expected to surpass a valuation of approx. US$ 13,302.73 Mn in 2021.
- At what rate did the Industrial microbiology market grow between 2016 and 2020?
The industrial microbiology market witnessed steady growth at 6.90% CAGR between 2016 and 2020.
- What are the key trends driving industrial microbiology sales?
Increasing application of empty capsules in pharmaceutical sector and adoption of wastewater treatment to improve the efficiency & reduce the pollution will foster the sales over the forecast period.
- Who are the leading players of industrial microbiology?
Thermo Fisher Scientific Inc, bioMérieux SA, and Merck KGaA. are the top three players leading the industrial microbiology market.
- What will be the demand outlook for North America Industrial microbiology market?
Sales in North America for industrial microbiology will account for over 27% of global market share in 2021.
- Which country in Europe will lead the industrial microbiology market?
Germany is expected to spearhead the market growth across Europe, contributing over 31% of global market share in anti-ageing products, services, and devices market.
- Which are the top countries leading the industrial microbiology market demand?
The U.S., UK, Germany, China, and France are the top countries driving the industrial microbiology market.