Microbial Identification Market size valued USD 2.3 billion in 2021 at a CAGR of 6.2%, the microbial identification market is projected to hit USD 3.8 billion by 2028. The growth of the market is mainly driven by the growing occurrence of infectious diseases, combined with influenza and pandemic outbreaks, rising concerns about food safety, technical developments in microbial identification techniques, and government initiatives and funding to encourage microbial identification. However, high cost of the equipment hinders the market. In 2015, Charles River laboratories have acquired Celsis International Ltd. for $212 million USD to improve its product portfolio. This market report provides a comprehensive outlook on worldwide with a specific focus on the key regions such as North America, Europe, Asia Pacific, Latin America, and MEA. This report gives historical, current, and future market size (US$ Mn) on the basis of product & services, method, application, end user, and geography. This study analyses the global market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs. This report considers the influence of COVID-19 on the market and includes insights, analysis, projections, and predictions.
Fastest Growing Market
One of the critical factors that will drive microbial identification market growth is the increasing demand for food safety testing. During production, microbes from natural sources contaminate the food, contributing to food spoilage and food borne illnesses. With increasing cases of food borne diseases, food safety testing is becoming increasingly relevant. Governments in many countries have also begun to concentrate on the implementation of food safety regulations and are tracking the efficacy of control measures to eliminate food borne diseases. The need for these goods and services to restrict these items would then be motivated by this. During the forecast period, these trends would increase the global market size for microbial identification.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.