NEW YORK, Sept. 26, 2017 /PRNewswire/ — Read the full report: https://www.reportlinker.com/p05117900
The microbial identification market is expected to reach USD 3.00 billion by 2022 from USD 2.18 billion in 2017, at a CAGR of 6.6%. Factors driving the growth of this market include the increasing prevalence of infectious diseases, technological advancements in microbial identification, increasing food safety concerns, and government initiatives to promote use of microbial identification. On the other hand, the high cost of automated microbial identification systems is expected to limit market growth in the coming years. Complex regulatory frameworks that delay the approval of new microbial diagnostic tests are also expected to challenge market growth to a certain extent.
“Consumables segment expected to grow at the fastest rate during the forecast period”
The consumables used for microbial identification are anticipated to grow at the highest CAGR during the forecast. The need of consumables in large numbers as compared to instruments is the primary factor responsible for this positive market growth.
“The diagnostic applications segment is anticipated to grow at the fastest growth rate during the forecast period”
The microbial identification market by application, is categorized into diagnostic applications (human disease diagnosis and animal disease diagnosis), food testing, beverage testing, cosmetics and personal care products testing, pharmaceutical applications, environmental applications, and other applications. The diagnostic applications segment is estimated to grow at the fastest rate during the forecast period. Increasing use of microbial identification for the diagnosis of infectious diseases in humans and animals is the key factor driving the growth of this market.
“The proteomics-based methods segment is estimated to grow at a rapid rate during the analysis period”
By method, the microbial identification market is segmented into phenotypic, genotypic, and proteomics-based methods. The proteomics-based methods segment is the fastest growing segment of the global microbial identification market on the basis of method. The rising demand for proteomics-based methods on account of greater levels of sensitivity, accuracy, and specificity is driving the demand for this segment.
“Asia is estimated to grow at the highest CAGR during the study period”
Geographically, the microbial identification market is dominated by North America, followed…