The global microbial identification market is expected to be worth US$ 3.7 billion in 2022 and to grow at a CAGR of 11.3% between 2022 and 2032, reaching a value of around US$ 10.7 billion by 2032. Rising demand for microbial identification products across various end user sectors such as pharmaceutical and biotechnology, food and beverage, water and environment, diagnostic laboratories, and independent research laboratories is driving the microbial identification market.
According to product, the bacterial identification systems segment held the largest market share of approximately 28.4% in the global microbial identification market in 2021 and is expected to maintain its dominance during the forecast period.
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North America to register steadfast adoption of microbial identification
The dominance of North America in the global microbial identification market is a key finding from the report’s regional analysis. Given the strength of the healthcare markets in the United States and Canada in comparison to other developed markets, as well as the growing contribution of North American academic institutes in developing research studies of medical microbiology, adoption of microbial identification systems will be widespread in this region. By the end of the forecast period, the North American microbial identification market will be worth around $500 million, with a CAGR of 6.4%. Europe and Asia-Pacific excluding Japan (APEJ) will also be seen as lucrative markets for microbial identification expansion.
Key Findings from the Report
In 2017, sales of bacterial identification systems will account for more than two-fifths of the revenue expected in the global microbial identification market.
Global sales of microbial remuneration systems are expected to generate US$ 310 million in revenue by the end of the forecast period.
Bacterial resistance identification systems will be the fastest-selling product in the overall microbial identification market throughout the forecast period.
By 2022, the pharmaceutical and biotechnology industries will continue to be the largest end-users of microbial identification.
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The end-use of microbial identification systems in water and environment sector will remain steady in 2017 and the following years
Between 2017 and 2022, the end-use of microbial identification across independent research laboratories in the world is anticipated to create an incremental opportunity of more than US$ 50 million
In 2017 and beyond, the use of microbial identification methods in blood banks will be subpar
Diagnostics remains to be a key application for microbial identification, revenues from which are anticipated to register above-average growth
While detection of harmful microbes is viewed as a necessary measure for bolstering quality control in production of food items and drinks, the application of microbial identification in food & beverage testing will register a moderate CAGR in terms of revenues over the forecast period
On the basis of technologies, phenotypic microbial identification methods are anticipated to remain predominant in terms of adoption, albeit, genotypic technologies will register a marginally high CAGR during the assessment period
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The report has further profiled companies that will be actively manufacturing microbial identification systems in the global market. Key players in the global microbial identification market include, Bruker Corporation, Danaher Corporation, Thermo Fisher Scientific, Inc., Shimadzu Corporation, Siemens Healthineers, QIAGEN N.V., Merck & Co Inc., bioMerieux S.A., Becton, Dickinson and Company, and Biolog, Inc. Many of these companies are expected to focus on developing microbial identification systems that befit the advancements in the field of medical microbiology. Specific requirements of microbiologist working in leading microbial identification projects will also influence the manufacturing techniques exercised by these companies.
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