The global rapid microbiology testing market is projected to reach USD 5.09 billion by 2023 from USD 3.45 billion in 2018, at a CAGR of 8.1%.
Growth in the rapid microbiology testing market can be attributed to factors such as the rising prevalence of infectious diseases; ongoing technological advancements; increasing food safety concerns; and increased funding, research grants, and public-private investments.
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The global rapid microbiology testing market is segmented by product, method, application, end user, and region.
On the basis of product, the global rapid microbiology testing market is segmented into instruments, reagents & kits, and consumables. The reagents & kits segment is expected to witness the highest growth rate during the forecast period. Reagents & kits are associated with faster and more reliable identification (within two to four hours), which eliminates the need for multiple tubed or plated media and simplifies conventional testing procedures, thus saving space, time, and costs.
On the basis of method, the global rapid microbiology testing has been segmented into five segments—growth-based, viability-based, cellular component-based, nucleic acid-based, and other testing methods. The nucleic acid-based rapid microbiology testing segment is expected to grow at the highest CAGR during the forecast period. Growth in this market segment is largely due to the fact that an increasing number of pharmaceutical companies are opting for implementing genetic methods for rapid microbial testing due to factors such as greater accuracy, speed, automation, and real-time monitoring and throughput.
On the basis of application, the rapid microbiology testing market is segmented into clinical disease diagnosis, food & beverage testing, pharmaceutical & biological drug testing, cosmetics and personal care products testing, environmental applications, research applications, and other applications. The food & beverage testing segment is expected to grow at the highest CAGR during the forecast period. Increasing food production, the growing demand for packaged food products, and growth in the beverage and dairy industry (coupled with the growing milk production in North American and Asian countries) are the major factors supporting the growth of the rapid microbiology testing market for food & beverage testing.
On the basis of end user, the rapid microbiology testing market is segmented into diagnostic laboratories & hospitals, food & beverage companies, pharmaceutical & biotechnology companies, CROs, and other end users. The food & beverage companies segment is estimated to witness the highest growth during the forecast period, primarily due to the growing cases of foodborne infections, increasing government regulations, and the implementation of stringent policies for food and beverage quality assurance across the globe.
Geographically, North America is expected to command the largest share of the global rapid microbiology testing market in 2018. However, the Asia Pacific market is expected to grow at the highest CAGR from 2018 to 2023. The key factors driving the growth of the market in APAC include increasing healthcare expenditure and growing initiatives to promote the use of advanced rapid microbiology testing technologies in Asia Pacific countries.
