Renewed focus and importance on testing the quality and clinical applications of various products has provided new avenues for growth of the industry for microbiology testing. Market reports linked to the healthcare sector along with published reports on other sectors have been lately made available by Market Research Future, which has also published a report on this market. The industry is anticipated to achieve US$ 5409.1 million approximately in terms of revenue by the conclusion of the forecast period by 2023.
The demand for the microbiology testing sector can be attributed to the rise in the number of its applications. Rising levels of diseases coupled with changing patterns of the diseases have increased the necessity for developments in this sector. Enhanced research and knowledge will one of the key factors which are expected to bolster the development of the market in the forecast period.
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Industry Segments
The Rapid Microbiology Testing Market has been segmented on the basis of application the market is segmented into respiratory infections, gastrointestinal infections, sexually transmitted infections, urinary tract infections and others. On the basis of type which comprises of consumables & accessories, chemicals & reagents, instruments, and others. The end user category for microbiology testing market is segmented into independent laboratory, and academics & research institutes.
Detailed Regional Analysis
Considering the worldwide condition of the market, the North American region is holding the chief market share of 37.9% in global microbiology testing industry in 2016. The Asia-Pacific region is the second biggest and rapidly growing industry in global microbiology testing market. The APAC region is estimated to expand at a CAGR of 12.1 percent through 2017 to 2023. The European region was the second major microbiology testing industry and is forecasted to grow at a considerable rate in the forecast period. On the other hand, the Middle Eastern and African region is growing at global average and is projected to grow at steady pace.
Global Competitive Analysis
The corporate strategy of the competitors in the market is focused currently on capitalizing the dynamic pace of technological innovations which have led to plenty of changes both in terms of product development and handling competition. This particular trend has enabled portfolio improvement along with the affinity for diversification in the sector, which has indirectly enabled the players to use the valuable state of dealings available in this industry. The use of these prospects by contenders, who are trying to cultivate their industry stake by intensive expansion can stimulate the expansion of this industry. The companies are also moreover trying to create and capture financial in a suitable manner. This has elevated the potential for the forthcoming growth period significantly. The strategic decision-making process has increased the productivity of companies so that they maintain their company’s liquidity and sustain feasible to take effective choices in terms of strategy designing and implementation.
Some of the important competitors in this industry are Biomérieux SA (France), Beckman Coulter, Inc. (US), Alere (US), BD (US), Cepheid (US), Thermo Fisher Scientific Inc. (US) and F. Hoffmann-La Roche Ltd (Switzerland) to name a few.
Industry Updates:
Jan 2018 Eurofins Scientific which is a global leader in food testing services has announced the purchase of Food Analytica which is a top group of food testing laboratories located in Hungary. Food Analytica which is one of the most contemporary microbiology laboratories in Eastern and Central Europe, which offers its services to more than 400 clients in Romania and Hungary. They also provide a wide-ranging suite of food testing services which includes microbiology, molecular biology, grain studies, food and feed chemistry and sensory analyses. Furthermore, Food Analytica also delivers an extensive scope of environmental testing facilities to a vast range of customers. The purchase of Food Analytica will additionally enhance Eurofins’ geographical footprint in the feed and food testing market and will also provide a platform with substantial inorganic and organic growth opportunities.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 17
1.1 MARKET SYNOPSIS 17
2 MARKET INTRODUCTION 18
2.1 DEFINITION 18
2.2 SCOPE OF THE STUDY 18
2.3 RESEARCH OBJECTIVE 18
2.4 MARKET STRUCTURE 18
2.5 ASSUMPTIONS & LIMITATIONS 19
3 RESEARCH METHODOLOGY 20
3.1 DATA MINING 20
3.2 SECONDARY RESEARCH 20
3.3 PRIMARY RESEARCH 21
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 22
3.5 FORECASTING TECHNIQUES 23
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 24
3.6.1 BOTTOM-UP APPROACH 24
3.6.2 TOP-DOWN APPROACH 25
3.7 DATA TRIANGULATION 26
3.8 VALIDATION 26
4 MARKET DYNAMICS 27
4.1 OVERVIEW 27
4.2 DRIVERS 28
4.2.1 INCREASING NUMBER OF INFECTIOUS DISEASES, INCLUDING COVID-19 28
4.2.2 GOVERNMENT AND PRIVATE FUNDS AS WELL AS SUPPORT FOR RESEARCH & DEVELOPMENT 29
4.2.3 RISING NUMBER OF APPROVALS AND PRODUCT LAUNCHES 29
4.3 RESTRAINTS 30
4.3.1 LIMITED REIMBURSEMENT IN DEVELOPING REGIONS 30
4.3.2 LACK OF ACCURACY OF TESTS 30
4.4 OPPORTUNITIES 31
4.4.1 COLLABORATION OF MAJOR PLAYERS WITH SMALL PLAYERS 31
4.4.2 INCORPORATION OF INNOVATION TO THE PRESENT TECHNOLOGY 32
4.5 IMPACT OF COVID-19 ON THE GLOBAL MICROBIOLOGY TESTING MARKET 32
4.5.1 OVERVIEW 32
4.5.2 IMPACT ON CLINICAL TRIALS 32
4.5.3 IMPACT OF MICROBIOLOGY TESTING TO DIAGNOSE COVID-19 33
4.5.4 IMPACT ON TEST VOLUME, REVENUE, AND STAFFING 34
5 MARKET FACTOR ANALYSIS 35
5.1 PORTER’S FIVE FORCES MODEL 35
5.1.1 BARGAINING POWER OF SUPPLIERS 36
5.1.2 BARGAINING POWER OF BUYERS 36
5.1.3 THREAT OF NEW ENTRANTS 36
5.1.4 THREAT OF SUBSTITUTES 36
5.1.5 INTENSITY OF RIVALRY 36
5.2 VALUE CHAIN ANALYSIS 37
5.2.1 R&D AND DESIGNING 38
5.2.2 MANUFACTURING 38
5.2.3 DISTRIBUTION & SALES 38
5.2.4 POST-SALES MONITORING 38
5.3 NUMBER OF ANTIMICROBIAL SUSCEPTIBILITY TESTS (AST) 39
5.3.1 NUMBER OF ANTIMICROBIAL SUSCEPTIBILITY TESTS (AST), BY REGION, 2019 39
5.3.2 NUMBER OF ANTIMICROBIAL SUSCEPTIBILITY TESTS (AST), BY TYPE, 2019 39
5.3.3 NUMBER OF ANTIMICROBIAL SUSCEPTIBILITY TESTS (AST), BY PURPOSE, 2019 39
5.3.4 NUMBER OF ANTIMICROBIAL SUSCEPTIBILITY TESTS (AST), BY SAMPLE TYPE, 2019 39
5.3.5 NUMBER OF ANTIMICROBIAL SUSCEPTIBILITY TESTS (AST), BY LOCATION, 2019 40
5.4 NUMBER OF SPECIES ID TESTS 40
5.4.1 NUMBER OF SPECIES ID, BY REGION, 2019 40
5.4.2 NUMBER OF SPECIES ID, BY TYPE, 2019 40
5.4.3 NUMBER OF SPECIES ID, BY PURPOSE, 2019 40
5.4.4 NUMBER OF SPECIES ID, BY SAMPLE TYPE, 2019 41
5.4.5 NUMBER OF SPECIES ID, BY LOCATION, 2019 41
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