The most recent study conducted by Report Ocean, titled “Global Microbial Identification Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Microbial Identification. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Microbial Identification Market Size study, By Product & Service (Instruments & Software, Consumables, Services), By Method (Phenotypic Method, Proteomic-based Method, Genotypic Method), By Technology (Mass Spectrometry, PCR, Flow Cytometry, Microscopy, Other Microbial Identification Technologies), By Application (Diagnostic Applications, Pharmaceutical Applications, Food & Beverage Testing, Cosmetics and Personal Care Products Testing, Other Applications), By End User (Hospitals, Diagnostic Laboratories, and Blood Banks, Pharmaceutical Companies & CROs, Food Manufacturing Companies, Beverage Manufacturing Companies, Other End Users), and Regional Forecasts 2022-2028Global Microbial Identification Market is valued approximately USD 3.59 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.2% over the forecast period 2022-2028.
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Microbial identification is a method that is used to classify microbes and their connection with the environment. This technique is majorly utilized in many phases of drug manufacturing as a component of cGMP, environmental application, and disease diagnostic purposes. This method is important because microbes can easily contaminate production facilities, products, and raw materials. The growing prevalence of infectious diseases and rising frequency of pandemics, rising concerns for food safety among the population, and the increasing number of technological advancements are the major factors that may stimulate the market demand around the world. For instance, in 2019, Thermo Fisher Scientific (US) introduced the company’s food safety customer solution center in Delhi, India.
This emphasis on meeting the demands of scientists in food & beverage laboratories by evolving critical workflows and incorporating solutions, which help in building food safety capacity in India. Additionally, the rising number of government initiatives and availability of funding for detecting and controlling antimicrobial-resistant species are further factors that may augment the market growth in the near future. In 2017, the Ministry of Health and Family Welfare, Government of India, lauched the National Strategic Plan (NSP) for Tuberculosis (TB) Elimination (2017-2025), this welfare of targets to eliminate TB by the end of 2025. The approach offers intrepid plans and resources to quickly reduce TB occurrence and mortality in India by the end of 2025. However, the high cost of automated microbial identification systems and complex regulatory frameworks impedes the growth of the market over the forecast period of 2022-2028. Also, bioterrorism surveillance and emerging economies offer significant opportunities that are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Microbial Identification market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the presence of prominent players and technological advancements in microbial identification. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the rising occurrence of infectious diseases, as well as growing food safety concerns, would create lucrative growth prospects for the Microbial Identification market across the Asia-Pacific region.
Major market players included in this report are:
Becton, Dickinson and Company
Thermo Fisher Scientific Inc.
BioMerieux SA Co.
Danaher Corporation
Merck KGaA Group
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Bruker Corporation
Shimadzu Corporation
Qiagen NV Company
Avantor, Inc.
Biolog, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product & Service:
Instruments & Software
Consumables
Services
By Method
Phenotypic Method
Proteomic-based Method
Genotypic Method
By Technology:
Mass Spectrometry
PCR
Flow Cytometry
Microscopy
Other Microbial Identification Technologies
By Application:
Diagnostic Applications
Pharmaceutical Applications
Food & Beverage Testing
Cosmetics and Personal Care Products Testing
Other Applications
By End User:
Hospitals, Diagnostic Laboratories, and Blood Banks
Pharmaceutical Companies & CROs
Food Manufacturing Companies
Beverage Manufacturing Companies
Other End Users
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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