According to the latest report published by Credence Research, Inc. “Industrial Microbiology Market – (Product Type – Equipment & System, Reaction Consumable and Laboratory Supplies; Test Type – Sterility Test, Microbial Limiting Tests, Bio-Burden Testing and Others; End-User – Pharmaceutical & Biotechnology, Food & Beverages, Agriculture & Environment, Personal Care and Others); Market Growth, Future Prospects and Competitive Analysis, 2017-2025” the market was valued at US$ 8.9 Bn in 2016, and is expected to reach US$ 16.3 Bn by 2025, expanding at a CAGR of 6.9% from 2017 to 2025.
Browse the full report Industrial Microbiology Market: Market Growth, Future Prospects and Competitive Analysis, 2017-2025 at http://www.credenceresearch.com/report/industrial-microbiology-market
Industrial microbiology refers to screening of microorganisms for production of pharmaceuticals, food and beverage, personal care products and other applications. Industries worldwide perform billions of tests every year thus representing substantial market potential. Moreover, ever growing demand for consumer products, increasing demand for developing high quality products, establishment of international production standards and safety requirements have urged the demand for novel microbiology testing solutions. On the basis of products, global industrial microbiology market is broadly segmented into equipment and systems, reaction consumables and laboratory supplies. It is observed that reaction consumables is major revenue contributing segment and it is anticipated that it will show sluggish growth during forecast period. Growing safety concern in industries and increasing demand for starter cultures in pharmaceutical and food industries influencing the market growth of microbial media worldwide. It is anticipated that equipment and systems would show growth during forecast period. Increasing concern towards the microbial safety and stringent government regulations to control the quality of products used in microbiology laboratories influencing the market growth of products in industrial microbiology laboratories.
On the basis testing type, the market is segmented into sterility testing, microbial limits testing, bio burden testing and others. Sterility testing occupies the largest market share in this market, since it is the first step carried out to check the presence of any microbial contamination. It is widely used in food products, pharmaceuticals, water and cosmetics area. Bio-burden testing is the next rapidly growing market as it is being made a mandatory test by regulatory authorities for investigational new drug (IND) submission and for medical devices. The global industrial microbiology market comprises extensive applications in various segments like pharmaceuticals and biotechnology, food and beverages, agriculture and environmental, personal care products and others. . Pharmaceutical and biotechnology segment held the largest share in the end-user segment, due to the role of microbiology on the advances in the pharmaceutical and biotechnology industries has resulted in to the discovery from vaccines to medical devices, and dietary supplements, which is directly responsible for the growth of industrial microbiology market. Food and beverages application is anticipated to grow at a highest CAGR during the forecast period due to rising concern over the quality and safety of food worldwide.
Geographically, North America dominated the global industrial microbiology market due to the factors such as large industrial base in the region with modern microbiological and safety methods. Furthermore, the favorable reimbursement scenario and strong investment from the federal government in the U.S. is further assisting the growth of industrial microbiology market in the region. Asia-Pacific emerged as the most attractive region and is expected to grow at the fastest growth rate during the forecast period of 2017-2025. The factors driving the Asia-Pacific market are flourishing industrial outlook with modern amenities and techniques. Furthermore enhanced measures to maintain the safety and quality of the products are further fueling the market growth.
Market Competition Assessment:
The industrial microbiology market currently possesses large number of companies having their products marketed. The companies have untapped opportunities in the developing regions of Asia Pacific and Latin America. The companies include Bio-Rad Laboratories, Merck KGaA, Becton Dickinson and Company, bioMerieux SA, Thermo Fisher Scientific and others.
Key Market Movements:
– Ever growing demand for consumer products, increasing demand for developing high quality products, establishment of international production standards and safety requirements have urged the demand for novel microbiology testing solutions.
– Innovation in testing processes such as rapid microbiology testing, which has witnessed significant adoption in the industrial sector.
– Gradual shift of consumers in cost competitive generic drugs will fuel the demand for microbiology tests in pharmaceutical application, as the manufacturers of such drugs are prompted to come up with cost effective manufacturing processes.