Global Microbial Identification Market to witness a CAGR of 5.6% during 2017-2023

NEW YORK, Sept. 13, 2018 (GLOBE NEWSWIRE) — The global microbial identification market  is expected to witness a CAGR of 5.6%, and is projected to reach USD 1,562.6 million by 2023. The growth in the microbial identification market is attributed to the rising cases of infectious diseases across the globe, technological advancements in microbial identification, and growing concerns related to the safety and quality of food. The report segments microbial identification market by Product (Instruments, Consumables, Services), Method (Phenotypic, Genotypic), Application (Diagnostic Applications, Food And Beverage Testing, Pharmaceutical Applications, Environmental Applications, Others), End-User (Hospitals and Blood Banks, Food and Beverage Manufacturing Companies, Pharmaceutical Companies and Research Laboratories, Environmental Research Agencies, Others), and Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa (MEA)). The report studies the global microbial identification market over the forecast period (2017-2023).

Microbial Identification is a crucial activity to identify a contaminating organism for its removal and destruction. Microorganisms such as bacteria and fungi can contaminate raw materials, production facilities, and branded products. Microbial identification is used in a wide variety of applications including pharmaceutical, food, energy, environment, and health sector.

Key findings from the report:

  • The global microbial identification market is expected to reach USD 1,562.6 million by 2023
  • The consumables product segment holds the major share of the global microbial identification market in 2016, and is expected to hold its dominance during 2017-2023
  • The phenotypic identification method segment held the major market in 2016. However, the genotypic identification method segment is expected to show higher CAGR during the forecast period
  • North America holds the largest share of the global microbial identification market and is projected to continue its dominance over the forecast period
  • The Asia-Pacific region is expected to witness highest CAGR during  2017-2023
  • Some of the key companies operating in the microbial identification market include Thermo Fisher Scientific Inc., Biomérieux S.A., Wickham Laboratories Ltd, Inc., Danaher Corporation, Biolog Inc., Bruker Corporation, Becton, Dickinson and Company, Qiagen N.V., Midi Inc., Charles River Laboratories Inc., among others

Genotypic  identification segment to witness higher growth rate than traditional Phenotypic techniques.

There are a variety of techniques to identify a given microbial specimen. The traditional methods include phenotypic techniques which use gram staining, culture and biochemical methods. However, these methods of identification can be used only for organisms that can be cultivated in vitro. Moreover these methods are complex and time consuming. Modern methods of genotypic identification have emerged as an alternative or complement to phenotypic methods. These methods use molecular techniques by doing DNA or RNA analysis of the microbial genomes. Genotypic microbial identification methods are more reliable, accurate, and definitive and provide rapid detection and identification of microbes.

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Microbial Identification Market – Regional insight

North America holds the largest share of the global microbial identification market and is projected to continue its dominance over the forecast period. The factors driving growth include an increasing number of research and development activities coupled with technological advancements in microbial identification in the region.  Asia-Pacific is projected to achieve high growth rate during the forecast period in the global microbial identification market, owing to increased healthcare spending and a high prevalence of infectious diseases in the region.

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