The Key Growth Elements in Detailed?

The Increasing incidence of infectious disease and cancer, technological advancements in rapid microbiology testing, increased funding for R&D and increased focus on the early detection of infectious disease are among the other factors. Emerging economies such as China, India, and Japan are providing lucrative opportunities for the players operating in the microbiology testing market.

Worldwide Growth Opportunities in Terms of Revenue:

The Global Rapid Microbiology Testing Market is projected to reach USD 6.7 billion by 2026 from USD 4.2 billion in 2021, at a CAGR of 9.4%

In 2020, growth-based rapid microbiology testing segment accounted for the largest share;

The rapid microbiology testing market is segmented into growth-based, cellular-based, nucleic acid-based, viability-based and other rapid microbiology testing based on method. In 2020, the growth-based rapid microbiology testing segment accounted for the largest share. Factors such as increased focus on the early detection of infectious disease increased funding for R&D and increased incidence of infectious disease and cancer.

Opportunity: Growth opportunities in emerging countries;

Emerging economies such as India, South Korea, Brazil, and Mexico offer significant growth opportunities to players operating in the rapid microbiology testing market. This can be attributed to the low regulatory barriers, improvements in healthcare infrastructure, growing patient population, rising prevalence of infectious diseases, and rising healthcare expenditure. Moreover, the regulatory policies in some of these countries are more adaptive and business-friendly than those in developed countries has drawn key players in microbiology testing market to focus on emerging countries.

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Regional Growth, Development and Demand Analysis:

The global rapid microbiology testing market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the microbiology testing market. The large share of this region can be attributed to the increased funding on R&D and technological advancements in the US and Canada.

Major Key Players Mentioned in the research report are:

The major players operating in rapid microbiology testing market are Abbott Laboratories, Inc. (US), Becton, Dickinson and Company (US), bioMérieux SA (France), Bruker Corporation (US), Charles River Laboratories International, Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), NEOGEN Corporation (US), Quidel Corporation (US), Sartorius AG (Germany), Thermo Fisher Scientific, Inc. (US), Don Whitley Scientific Limited (UK), Rapid Micro Biosystems, Inc. (US), Vivione Biosciences, LLC (US), Gradientech (Sweden), rqmicro AG (Switzerland), Bactest Ltd. (US), Colifast (Norway), Serosep Ltd. (Ireland), Biosensia (Ireland), Solus Scientific Solutions Ltd. (Scotland), LubioScience GmbH (Scotland), Euroclone SpA (Italy), CorDx (US), and R-Biopharm AG (Germany).

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Recent Developments in Rapid Microbiology Testing Market:

In October 2020, Merck KGAA (Germany) collaborated with Mammoth Biosciences (US) for the development, scale up and commercial production of CRISPR- based SARS-COV-2 diagnostic test.
In September 2020, Bruker Corporation (US) has an acquisition with Canopy Bioscience LLC ( US) which enhanced bruker’s offerings in targeted multi-omics and fluorescence-based imaging technique.
In July 2020, Biomérieux SA (France) launched Biofire mycoplasma test for the detection of mycoplasma in biopharmaceutical products.