Rapid Microbiology Testing Market in terms of revenue was estimated to be worth $5.2 billion in 2024 and is poised to reach $8.3 billion by 2029, growing at a CAGR of 10.1% from 2024 to 2029 according to a new report by MarketsandMarkets™.
In recent times, the rapid microbiology testing market is experiencing an exponential growth due to the rising prevalence of infectious diseases, advancements in technology, and a stronger emphasis on early infectious disease detection.
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Rapid Microbiology Testing Market Dynamics:
Drivers:
- Increasing incidence of infectious diseases and cancer
- Technological advancements in rapid microbiology testing
- Increased funding for R&D
- Increased focus on early detection of infectious diseases
Restraints:
- High capital investments and low cost-benefit ratio
- Unfavorable regulatory and reimbursement scenario
Opportunities:
- Growth opportunities in emerging countries
Challenge:
- Operational barriers
Key Market Players of Rapid Microbiology Testing Industry:
The major players operating in this market are bioMérieux SA (France), Danaher Corporation (US), Becton, Dickinson and Company (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Sartorius AG (Germany), Bruker (US), QuidelOrtho Corporation (US), Charles River Laboratories (US), Neogen Corporation (US), Don Whitley Scientific Limited (UK), Rapid Micro Biosystems, Inc. (US), Gradientech (Sweden), rqmicro AG (Switzerland), Colifast AS (Norway), Serosep Limited (Ireland), Solus PerkinElmer (US), BTNX Inc. (Canada), R-Biopharm AG (Germany), Paragon Genomics, Inc. (US), Kypha Inc. (US), Vivione Biosciences (US), Bactest Ltd. (UK), and CorDx (US).
North America is the largest regional market for rapid microbiology testing market.
The market for rapid microbiology testing has been divided into six key geographical regions, namely North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023, North America held the predominant portion of the rapid microbiology testing market. The high adoption of advanced diagnostic technologies in North America is driving market growth in this regional segment. This trend is further fueled by the rising awareness among healthcare professionals and the general population about the importance of early detection and prompt treatment. The strong focus on healthcare infrastructure and the increasing healthcare expenditure in North America also contribute to market growth, as do the expanding pharmaceutical and biotechnology industries. The food safety sector is another significant contributor, with rapid microbiology testing integral to ensuring the safety and quality of the food supply chain.
Recent Developments of Rapid Microbiology Testing Industry:
- In December 2023, Danaher Corporation (US) acquired Abcam (UK), a company that offers the scientific community validated antibodies, reagents, biomarkers, and assays to address targets in biological pathways that are critical for advancing drug discovery, life sciences research, and diagnostics.
- In May 2023, bioMérieux SA (France) received the US Food and Drug Administration (FDA) Clinical Laboratory Improvement Amendments (CLIA) waiver for the fast and accurate multiplex PCR-based BIOFIRE SPOTFIRE Respiratory (R) Panel Mini.
- In November 2022, Thermo Fisher Scientific Inc. (US) introduced the rapid RT-PCR Accula Flu A/Flu B test.
- In May 2021, Neogen Corporation (US) launched an improved version of its AccuPoint Advanced sanitation monitoring system that is simpler to use and provides results that are easier to analyze.
- In July 2020, Neogen Corporation (US) launched the advanced Soleris NG microbial testing system.
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