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(IT-NEWSWIRE.COM, March 25, 2021 ) Growth in microbial identification 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 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%.
Microbial Identification Market Dynamics
Driver: Rising incidence of infectious diseases and increasing frequency of pandemics
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.
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Restraint: High cost of automated microbial identification systems
Automated microbial identification instruments are equipped with highly advanced features and functionalities and are priced at a premium. The price for a MALDI-TOF-based system varies from USD 150,000 to USD 850,000. The consumables used for identification techniques are also expensive, and there is an added labor cost. Many of the new rapid tests typically range from USD 100–USD 250; they cost significantly more than the conventional culture methods.
Opportunity: Emerging economies present significant growth opportunities
The emerging economies are expected to become a focal point for the growth of the microbial identification market. The Asia Pacific, Middle Eastern, and Latin American regions are relatively untapped markets for microbial identification companies compared to Europe and North America. Owing to this, governments in various Asian countries are supporting the development of the microbial identification market. In this regard, several initiatives have been started by global organizations in Asia:
In 2020, the Australian Government released Australia’s next national antimicrobial resistance strategy, following an endorsement by the Council of Australian Governments. Australia’s National Antimicrobial Resistance Strategy - 2020 and beyond sets a 20-year vision to protect the health of humans, animals, and the environment by minimizing the development and spread of AMR while continuing to have effective antimicrobials available.
In 2019, Thermo Fisher Scientific (US) opened a food safety customer solution center in Delhi, India. The new center focuses on meeting the demands of scientists in food & beverage laboratories by developing critical workflows and integrated solutions that help build the food safety capacity in India.
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Challenge: Complex regulatory frameworks that delay the approval of new microbial diagnostic tests The current FDA approval process for instruments and consumables is very lengthy and complex. In May 2016, the Council of the European Union issued the new In Vitro Diagnostic Device Regulation (IVDR), which replaced the existing In Vitro Diagnostic Devices Directive (IVDD) 98/79/EC. IVDR was enforced in 2017 by the European council.
North America accounted for the largest share of the microbial identification market in 2019.
In 2019, North America accounted for the largest share of the overall microbial identification services market, followed by Europe. Technological advancements in microbial identification, increasing prevalence of infectious diseases, growing food safety concerns, and the presence of prominent players are the major drivers of the North American market.
Leading Companies
The microbial identification market is dominated by a few globally established players such as bioMérieux SA (France), Becton, Dickinson and Company (US), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Bruker Corporation (US), Shimadzu Corporation (Japan), QIAGEN NV (Netherlands), Avantor, Inc. (US), and Biolog, Inc. (US)
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Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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