Microbial Identification Market to Reach $6.4 Billion Globally By 2032, at 6.2% CAGR: Allied Market Research

Increase in the prevalence of infectious diseases, increase in awareness of food safety issues, and rise in technological advancements drive the growth of the global microbial identification market.

Wilmington, New Castle,  Delaware, March 11, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Microbial Identification Market by Product and Service (Instruments, Consumables, and Services), Method (Phenotypic Method, Genotypic Method, and Proteomic Method), Technology (Mass Spectrometry, PCR, Flow Cytometry, and Others), and End User (Food and Beverage Industry, Pharmaceutical and Biotechnological Industry, Environmental Water Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global microbial identification industry generated $3.5 billion in 2022 and is anticipated to generate $6.4 billion by 2032, witnessing a CAGR of 6.2% from 2023 to 2032.  

Request Sample of the Report on Microbial Identification Market Forecast 2032 https://www.alliedmarketresearch.com/request-sample/856 

Prime determinants of growth   

Rise in infectious diseases globally, increase in awareness of food safety issues, and continuous advancements in technology are the factors that drive the growth of the global microbial identification market. However, lack of skilled personnel and limited accessibility in underdeveloped regions restrict the market growth. Moreover, the high growth potential in emerging countries is expected to present new opportunities in the coming years.  

Report coverage & details:  

Report Coverage   Details  
Forecast Period   2023–2032  
Base Year   2022  
Market Size In 2022   $3.5 Billion  
Market Size In 2032   $6.4 Billion  
CAGR   6.2%  
No. Of Pages In Report   296  
Segments Covered   Product And Service, Method, Technology, End User, and Region  
Drivers    Increase In the Prevalence of Infectious Diseases  
Increase In Awareness of Food Safety Issues  
Rise In Technological Advancements  
Opportunity   High Growth Potential in Emerging Countries  
Restraint  Lack of Skilled Personnel and Limited Accessibility in Underdeveloped Regions  

Want to Explore More, Connect to our Analyst – https://www.alliedmarketresearch.com/connect-to-analyst/856  

Recession Impact  

  • During economic downturns, governments and individuals may cut back on healthcare spending to manage budgets more effectively. This impacts the purchasing power of healthcare institutions and may slow down the adoption of new technologies, including microbial identification solutions.  
  • However, surge in the prevalence of foodborne diseases and rise in technological advancements. This can boost the need for microbial identification that is experiencing a moderately positive impact from the global recession.   

The consumables segment to maintain its leadership status throughout the forecast period  

By product and service, the consumables segment held the largest market share in 2022, accounting for more than half of the global microbial identification market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the rise in need for rapid and accurate microbial identification to curb the spread of infectious diseases and drives an increased demand for consumables.  

However, the instruments segment is expected to register the highest CAGR of 6.9% during the forecast period. This is attributed to the surge in demand for advanced and automated microbial identification technologies.  

The phenotypic method segment to maintain its leadership status throughout the forecast period

By method, the phenotypic method segment held the largest market share in 2022, accounting for more than two-fifths of the global microbial identification market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to its versatility, widespread acceptance, ease of use, and cost-effectiveness. However, the genotypic method segment is expected to register the highest CAGR of 6.9% during the forecast period. This is attributed to the precision, specificity, and technological advancements associated with these methods.  

The phenotypic method segment to maintain its leadership status throughout the forecast period  

By technology, the mass spectrometry segment held the largest market share in 2022, accounting for more than one-third of the global microbial identification market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to its speed, versatility, accuracy, and continuous technological advancements.  However, the PCR segment is expected to register the highest CAGR of 7.0% during the forecast period. This is attributed to the accuracy, versatility, real-time capabilities, technological advancements, and its integral role in addressing emerging challenges in microbiology and infectious diseases.  

The food and beverage industry segment to maintain its lead position during the forecast period  

By end user, the food and beverage industry segment accounted for the largest share in 2022, contributing to more than half of global microbial identification market revenue, and is projected to maintain its lead position during the forecast period. This segment is expected to register the highest CAGR of 6.7% during the forecast period. This is attributed to increased consumer awareness and demand for high-quality and safe food products that further propel the need for robust microbial identification solutions in the food and beverage industry.  

North America to maintain its dominance by 2032  

By region, North America held the largest market share in terms of revenue in 2022, accounting for more than one-third of the microbial identification market revenue and is expected to dominate the market during the forecast period. This is attributed to its well-developed healthcare infrastructure, technological advancements in testing methodologies, and growth in emphasis on preventive healthcare practices in North America.  

For Procurement Information – https://www.alliedmarketresearch.com/purchase-enquiry/856 

However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.6% from 2023 to 2032. This is attributed to rise in the prevalence of infectious diseases and rise in research and development activities in fields such as genomics, proteomics, and microbiology that contribute to the demand for cutting-edge microbial identification technologies.   

Leading Market Players:  

  • BIOMÉRIEUX  
  • Becton, Dickinson and Company  
  • Bio-Rad Laboratories, Inc  
  • Bruker Corporation  
  • Charles River Laboratories  
  • Danaher Corporation  
  • Merck KGaA  
  • QIAGEN  
  • Shimadzu Corporation  
  • Thermo Fisher Scientific Inc    

The report provides a detailed analysis of these key players in the global microbial identification market. These players have adopted strategies such as acquisition, partnership, agreement, product approval, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research: 

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports. 

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access 

About Allied Market Research: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.  

Contact 
David Correa 

1209 Orange Street, 

Corporation Trust Center, 

Wilmington, New Castle, 

Delaware 19801 USA. 

Toll Free: +1-800-792-5285 

Int’l: +1-503-894-6022 

UK: +44-845-528-1300 

Hong Kong: +852-301-84916 

India (Pune): +91-20-66346060 

Fax: +1-855-550-5975 

help@alliedmarketresearch.com   

Web: https://www.alliedmarketresearch.com    

Follow Us on: LinkedIn Twitter 

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy