The global microbial identification panel market accounted to US$ 2,288.7 Mn in 2018 and is expected to grow at a CAGR of 6.2% during the forecast period 2019 – 2027, to account to US$ 3,873.1 Mn by 2027.
In 2018, Asia Pacific accounted as the fastest growing region in the global microbial identification panel market and was projected to grow at a faster pace over the forecast period. The growth of the microbial identification panel market is mostly held by China than in other countries. The increase is widely contributed due to the presence of various pharmaceutical industry and other healthcare industry which are anticipated to use microbial identification panels. In addition, the market in the countries such as Japan and India is estimated to grow due to the growing investment in Japanese Pharmaceutical industry, rising microbial applications in the field of agriculture, food, etc. are likely to influence the growth of the microbial identification panel market. Moreover, the market is expected to have growth opportunities in countries such as South Korea and Australia due to the development of the pharmaceutical and biotechnology sector.
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The major players operating in the microbial identification panel market include, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Danaher Corporation, bioMérieux, Merck KGaA, Charles River Laboratories, Inc., Bruker Corporation, Shimadzu Corporation, Avantor (VWR International LLC), and Eurofins Scientific among the others. The market has carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
The microbial identification market is segmented on the basis of product & service, method and end user. Based on the product & service it is classified as instruments, consumables, software and services. On the basis of method the market is classified as phenotypic, genotypic and MALDI-TOF. Based on the end user the market is segmented as hospitals and diagnostic laboratories, pharmaceutical companies, other end users. In 2018, the instruments accounted for the largest market share in the global microbial identification panel market. The growing expenditure by hospitals, pharmaceutical and food industry on microbial identification activities, are driving the total number of instrument purchased.
In addition, the advancement in technology has helped in the removal of rich genetic resource of non-cultured microorganisms has led to the discovery of new genes, enzymes, and naturally occurring products. The results of the microbial technology have led to the development of most of the commodity and fine chemicals, agrochemicals, and pharmaceuticals. Therefore the discovery of the novel genes, enzymes from the microorganisms has impacted greatly in the production of industrial products through the industrial and biotechnological applications. Therefore, owing to the above-mentioned factors, it is estimated that the rising use of the microorganism for the industrial application is likely to grow the market during the forecast period
The report segments the global microbial identification panel market as follows:
Global Microbial Identification Panel Market – By Product & Service
Global Microbial Identification Panel Market – By Method
Global Microbial Identification Panel Market – By End User
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