Microbial Identification Market worth $5.7 billion by 2025 - Exclusive Report by MarketsandMarkets™
According to the new market research report "Microbial Identification Market by Product & Service (Instrument & Software, Consumable, Service), Method (Phenotypic, Proteomic), Technology (Mass Spectrometry, PCR), Application (Diagnostic, Food Testing), End User (Hospital) – Global Forecast to 2025", published by MarketsandMarkets™, the global Microbial Identification Market size is estimated to be USD 3.2 billion in 2020 and projected to reach USD 5.7 billion by 2025, at a CAGR of 12.2%.
Browse in-depth TOC on "Microbial Identification Market"
261 – Tables
33 – Figures
220 – Pages
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The Growth in this market is largely driven by the rising incidence of infectious diseases and the increasing frequency of pandemics, technological advancements, increasing food safety concerns, and increasing government initiatives and funding to detect and control antimicrobial-resistant species.
The instruments segment accounted for the largest share of the product & service segment in the microbial identification market in 2019.
On the basis of product & service, the market is broadly segmented into instruments & software, consumables and services. In 2019, instruments & software segment accounted for the largest share of the microbial identification products market owing to the various technological advancements in microbial identification systems.
The phenotypic segment accounted for the largest share of the method segment in the microbial identification market in 2019.
Based on methods, the market is categorized into three method segments— phenotypic, proteomics-based and genotypic methods. The phenotypic methods segment accounted for the largest share of the market in 2019. The large share of this segment can be attributed to the wide usage of phenotypic methods for microbial identification across the healthcare, food & beverage, pharmaceutical, and environmental sectors
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The Asia Pacific region is the fastest growing region of the market in 2019.
In 2019, Asia Pacific region accounted for the fastest growing region of the microbial identification market. It is also estimated to grow at the highest CAGR in the market during the forecast period, this is mainly due to the improving healthcare infrastructure, the heavy burden of infectious diseases, growing initiatives to control the spread of infectious diseases, and increasing investments by leading players in this region.
Microbial identification is mainly used for human disease diagnosis. It delivers rapid and reliable results that help in the timely adoption of appropriate therapies. Microbial identification products can improve the management of infectious diseases, especially in areas with inadequate healthcare infrastructure.
It is estimated that approximately 1,400 pathogens can cause human diseases. Pathogenic bacteria alone cause about 350 million cases of foodborne diseases. About 48 million foodborne illnesses occur annually in the US alone, which leads to approximately 128,000 hospitalizations and 3,000 deaths every year.
Poor water hygiene can cause 1.7 million deaths a year worldwide, and 9 out of 10 deaths occur in children. Most of these deaths, however, are observed in developing countries (NCBI).
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