The report "Global Industrial Microbiology Market, By Product Type (Equipment & Systems, Consumables, and Reagents), By Application (Food & Beverage Industry, Pharmaceutical & Biotechnology Industry, Agricultural Industry, Environmental Industry, Cosmetic Industry or Personal Care Industry, and Other Application Areas), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030.
Industrial microbiology market accounted for US$ 11.53 billion in 2020 and is estimated to be US$ 23.72 billion by 2030 and is anticipated to register a CAGR of 7.50% . The global industrial microbiology market is large and growing due to an increasing preference for automation. The rising emphasis on industrial food and safety is driving the growth of the global market. Industrial microbiology has applications in cosmetics, agriculture, food and beverages, and pharmaceuticals. Moreover, demand for consumer products is growing with the rise in the population globally; the need for product safety and quality testing is also on the rise. Industrial microbiology tackles with the screening, enhancement, and controlling of microorganisms for the production of various end-use products. Fast and accurate testing of pathogens can reduce industry costs, protect brand image, and speed up the outbreak investigation and response. Growing consumer concerns and increasing product recalls are boosting the global industrial microbiology market. The fermentation of beer, wine, and cheese also require industrial microorganisms, thus fueling the target market growth.
Key Highlights:
· In November 2018, BioMérieux acquired a majority stake in Hybiome and strengthens its presence, both in China and in the immunoassay market.
· In March 2019, Thermo Fisher Scientific Inc. and Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies, declared that it had entered into a definitive agreement, under which, Thermo Fisher will acquire Brammer Bio for approximately USD$ 1.7 billion in cash.
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Key Market Insights from the report:
The global industrial microbiology market accounted for US$ 11.53 billion in 2020 and is estimated to be US$ 23.72 billion by 2030 and is anticipated to register a CAGR of 7.50%. The market report has been segmented based on product type, application, and region.
· By product type, the global market is segmented into equipment & systems, consumables, and reagents
· By application, the pharmaceutical biotechnology application segment is expected to dominate the global market over the forecast period. This is mainly credited due to the presence of a large number of pharmaceutical companies developing and manufacturing novel drugs. The frequency of speedy drug approvals and drug innovation are also boosting the growth of the segment.
· By region, North America dominates the global market and is expected to maintain its dominance over the forecast period. The U.S. industrial microbiology market is accounted to be driven, due to the rapid growth in various industries, like pharmaceutical, food and beverage, environmental, agricultural, and cosmetic.
The prominent player operating in the global Industrial Microbiology market includes 3M Company, Becton Dickinson and Company, Agilent Technologies, Bio-Rad Laboratories, Inc., BioMerieux SA, Danaher Corporation, Eppendorf AG, Qiagen NV, Sigma Aldrich (Merck KGaA), and Thermo Fisher Scientific Inc.
