Market Analysis - Clinical Microbiology 2020
The worldwide microbiology market is esteemed at $6,727.29 million in 2014 and is relied upon to develop at a CAGR of 13.03% in the vicinity of 2014 and 2019. Expanding sickness weight of irresistible maladies and expanded subsidizing for social insurance consumption are the essential development drivers for this market amid the conjecture time frame. The pharmaceuticals application fragment represented the biggest share of the microbiology advertise in 2014; while the nourishment application portion is normal develop at the most astounding CAGR in the vicinity of 2014 and 2019 in the worldwide microbiology showcase. The global clinical microbiology market is projected to reach USD 5.77 Billion by 2021 from USD 3.35 Billion in 2016, growing at a CAGR of 11.5% from 2016 to 2021. Market growth can be attributed to factors such as the technological advancements; rising incidence of infectious diseases and growing outbreak of epidemics; growing healthcare expenditure across the world; and increasing funding, research grants, and public-private investments in the field of life science researches.
Emerging regions such as Asia-Pacific (including Japan, China, and India) are expected to become the new revenue-generating pockets in the market in the next five years. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period owing to the growing number of hospitals and clinical diagnostic laboratories in India and China; expanding research capabilities for the development of innovative and affordable clinical microbiology testing procedures across India, China, and Japan; and rising incidences of infectious diseases.
Market research is vital to the development of the industrial market, and continues to be in demand. In 2018, we anticipate delivery of new editions of our report on Microbiology Testing in the Global spurt.
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Applied Microbiology size was valued at over USD 24.3 billion in 2017 and will exceed USD 675.2 billion with 7.9% CAGR from 2017 to 2024. At Global Market Insights, It is a unique blend of primary and secondary research, with validation and iterations, in order to minimize deviation and present the most accurate analysis of the industry.
Rising demand of new technologies will drive the biotechnology industry size. we’ve seen tremendous growth and change in the industrial diagnostics industry, particularly in the food safety sector expertise in all aspects of the market, plus extensive experience in business management, strategy development and international business, microbiology test volumes, market values and methods used by food producers around the world, based on detailed interviews with more than 450 food production facilities in America, Europe and Asia, including Japan. Total test volumes have increased 128%, and testing for specific foodborne pathogens like Salmonella and E. coli grew at an even faster rate.
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The global market for Food Microbiology reached nearly $7.1 billion in 2017. This market is expected to grow to nearly $9.6 billion in 2017 and $15.7 billion by 2025, with a compound annual growth rate (CAGR) of 8.1% from 2017 to 2025.
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Based on technology, the industry is segmented into tissue engineering and regeneration, fermentation, PCR, nanotechnology, chromatography, DNA sequencing and cell based assay. In 2017, the tissue engineering and regeneration segment accounted for highest revenue and was valued at over USD 11.3 billion. However, the nanotechnology, fermentation and cell based assay segments will experience lucrative growth owing to rising R&D initiatives by various biotechnological and pharmaceutical companies.
The global clinical microbiology market is valued at $6,727.29 million in 2014 and is expected to grow at a CAGR of 13.03% between 2014 and 2019. Increasing disease burden of infectious diseases and increased funding for healthcare expenditure are the important growth drivers for this market during the forecast period. The pharmaceuticals application segment accounted for the largest share of the microbiology market in 2014, while the food application segment is expected grow at the highest CAGR between 2014 and 2019 in the global microbiology market.
Several microorganisms are used in industrial microbiology, including laboratory-selected mutants, naturally occurring organisms, and genetically modified organisms (GMOs). Microbiology research and development is finding increasing application in oil and gas organizations, the food and beverage industry, and environmental testing organizations.
In addition, the traditional R&D in the biopharmaceutical industry is witnessing an upsurge, due to drug development research, which is helping in the augmentation of the industrial microbiology market.
Increased demand for nutraceuticals and other fermented products further drives the importance of industrial application of microbiology on a large scale. Such factors are helpful to drive the industrial market.
However, in the market, there are several conflicts observed regarding the usage of genetically modified organisms in food sources, which are expected to restrict the growth of the industrial microbiology market.