According to the latest report published by Credence Research, Inc. “Rapid Microbiology Tests Market – (Technology Type – Nucleic Acid Based Test, Antibody Based Test, Biochemical Test, Enzymatic Test, Flow Cytometry Methods, Polymerase Chain Reaction (PCR) Methods, Impedance Methods, and Others; End User – Food and Beverages, Pharmaceutical, Environmental, Personal Care and Others) :Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the market was valued at USD 12.03 Bn in 2015, and is expected to reach USD 19.50 Bn by 2022, expanding at a CAGR of 6% from 2016 to 2022.
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Rapid microbiological tests are gaining momentum in the global market as a reliable and cost-effective method to track and monitor all types of microorganisms in clinical as well as industrial settings. In addition, rapid microbiology tests offer faster and more accurate methods to assist in the rapid diagnosis and treatment of patients or to provide safe and reliable food, water, and pharmaceuticals. North America held the largest regional market, accounting for the market share of over 33% in 2015, and is anticipated to dominate the global rapid microbiology tests market during the forecast period 2016 to 2022. Large numbers of market-focused players providing wider range of product portfolio are the key to growth of the North America region. Asia Pacific is expected to grow at a highest growth rate during the focus period, due to increase in the number of laboratories in these regions and up gradation of existing ones for automation of various instrumentation systems. Moreover, the market is wide open for advancing rapid diagnostic technologies to improve patient management, exponential population growth and aging conventional technology will only intensify the pace of development in the region.
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Among the technology types, nucleic acid based tests held the largest share in the rapid microbiology market due to its wide application in the life science and food industry. Moreover, low cost and high speed would further fuel the market growth of nucleic acid based tests. Impedance methods is anticipated to grow at a highest growth rate during the forecast period due to its faster turnaround time and accuracy in the detection of the microbes.
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Food and beverages industry held the largest share in the end user segment of the global rapid microbiology tests market. Increase in food consumption, consumer demand, industry’s food safety priorities, and regulation are the factors driving the rapid microbiology tests market during the forecast period. Pharmaceutical industry is anticipated to witness the highest growth rate in the global rapid microbiology tests market due to the increase in outbreaks of new diseases caused by mutant microorganisms, rising healthcare expenditure, and growing need to speed up microbiological testing.
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