Microbial Identification Market size was valued at USD 2.3 billion in 2022 and is poised to grow at a CAGR of 6.2% from 2023-2029. The microbial identification market is projected to hit USD 3.8 billion by 2028. The growth of the market is mainly driven by the growing occurrence of infectious diseases, combined with influenza and pandemic outbreaks, rising concerns about food safety, technical developments in microbial identification techniques, and government initiatives and funding to encourage microbial identification. However, high cost of the equipment hinders the market. In 2015, Charles River laboratories have acquired Celsis International Ltd. for $212 million USD to improve its product portfolio. This market report provides a comprehensive outlook on worldwide with a specific focus on the key regions such as North America, Europe, Asia Pacific, Latin America, and MEA. This report gives historical, current, and future market size (US$ Mn) on the basis of product & services, method, application, end user, and geography. This study analyses the global market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs. This report considers the influence of COVID-19 on the market and includes insights, analysis, projections, and predictions.
Fastest Growing Market
One of the critical factors that will drive microbial identification market growth is the increasing demand for food safety testing. During production, microbes from natural sources contaminate the food, contributing to food spoilage and food borne illnesses. With increasing cases of food borne diseases, food safety testing is becoming increasingly relevant. Governments in many countries have also begun to concentrate on the implementation of food safety regulations and are tracking the efficacy of control measures to eliminate food borne diseases. The need for these goods and services to restrict these items would then be motivated by this. During the forecast period, these trends would increase the global market size for microbial identification.
The microbial identification market size was valued at USD 2.3 billion in 2022
Becton, Dickinson & Company, Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Bruker Corporation, Shimadzu Corporation
Government initiatives and funding for Promoting Microbial Identification