Rapid Microbiology Testing Market - Increasing incidence of infectious disease and cancer
The Rapid Microbiology Testing Market is projected to reach USD 6.7 billion by 2026 from USD 4.2 billion in 2021, at a CAGR of 9.4%.
Driver: Increasing incidence of infectious disease and cancer;
The incidence of various infectious diseases such as HIV, tuberculosis, malaria, and pneumonia has increased. With a rise in the global burden of these diseases, the demand for rapid microbiology techniques for faster and accurate microbial screening, identification, and susceptibility testing against pathogens is expected to witness significant growth during the forecast period
Opportunity: Growth opportunities in emerging countries;
Emerging economies such as India, South Korea, Brazil, and Mexico offer significant growth opportunities to players operating in the rapid microbiology testing market. This can be attributed to the low regulatory barriers, improvements in healthcare infrastructure, growing patient population, rising prevalence of infectious diseases, and rising healthcare expenditure. Moreover, the regulatory policies in some of these countries are more adaptive and business-friendly than those in developed countries has drawn key players in the rapid microbiology testing market to focus on emerging countries.
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The Increasing incidence of infectious disease and cancer, technological advancements in rapid microbiology testing, increased funding for R&D and increased focus on the early detection of infectious disease are among the other factors. Emerging economies such as China, India, and Japan are providing lucrative opportunities for the players operating in the market.
The cardiac Instruments segment accounted for the largest share of the rapid microbiology testing market, by product segment, in 2020
Based on product, the market is segmented into instruments, reagents and kits, and consumables. The instruments segment accounted for the largest share of the market in 2020. Factors such as technological advancements, increasing incidence of infectious disease and cancer and increased focus on the early detection of infectious disease are contributing to the growth of this market.
Nucleic acid-based rapid microbiology testing segment to register the highest growth rate during the forecast period
The rapid microbiology testing market is segmented into growth-based, nucleic acid-based, viability-based, cellular component-based, and another rapid microbiology testing. In 2020, the nucleic acid-based segment accounted for the highest growth rate. Factors such as the increased focus on early detection of infectious disease and rising incidence of infectious diseases and cancer.
The clinical disease diagnostics segment accounted for the largest share of the market, by applications segment, in 2020
Based on applications, the rapid microbiology testing market has been segmented into clinical disease diagnosis, food and beverage testing, pharmaceutical and biological drug testing, environmental testing, cosmetics, and personal care products testing, research applications, and other applications. In 2020, the clinical disease diagnostics segment accounted for the largest share of the market. The increasing incidence of infectious disease and cancer is driving this segments growth.
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North America is the largest regional market for rapid microbiology testing market
The global market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the market. The large share of this region can be attributed to the increased funding on R&D and technological advancements in the US and Canada.
The major players operating in this rapid microbiology testing market are Abbott Laboratories, Inc. (US), Becton, Dickinson and Company (US), bioMérieux SA (France), Bruker Corporation (US), Charles River Laboratories International, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), NEOGEN Corporation (US), Quidel Corporation (US), Sartorius AG (Germany), Thermo Fisher Scientific, Inc. (US), Don Whitley Scientific Limited (UK), Rapid Micro Biosystems, Inc. (US), Vivione Biosciences, LLC (US), Gradientech (Sweden), rqmicro AG (Switzerland), Bactest Ltd. (US), Colifast (Norway), Serosep Ltd. (Ireland), Biosensia (Ireland), Solus Scientific Solutions Ltd. (Scotland), LubioScience GmbH (Scotland), Euroclone SpA (Italy), CorDx (US), and R-Biopharm AG (Germany).
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