Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Industrial Microbiology Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global industrial microbiology market is poised for substantial growth, projected to expand from $13.57 billion in 2022 to $14.51 billion in 2023, reflecting a robust Compound Annual Growth Rate (CAGR) of 7%.
Despite the disruptions caused by the Russia-Ukraine conflict, impeding immediate global economic recovery from the COVID-19 pandemic, the industrial microbiology market is projected to attain $18.81 billion by 2027, with a projected CAGR of 6.7%.
Microbiology at the Heart of Industry: Industrial microbiology encompasses a range of essential components, including equipment, systems, reaction consumables, and laboratory supplies. These elements collectively drive the production of critical substances such as vaccines, enzymes, and food products. The applications of industrial microbiology are wide-ranging, spanning sterility testing, microbial limits testing, bio-burden testing, and water and environmental testing. These applications find utility in sectors such as food and beverages, pharmaceutical biotechnology, agriculture, environment, cosmetics, and personal care.
Comprehensive Market Insights: The industrial microbiology market research report is part of a series of comprehensive reports providing invaluable statistics on market size, regional distribution, competitors, detailed segments, trends, and opportunities. This report offers an exhaustive understanding of the current and future trajectory of the industrial microbiology industry.
Pioneering Technological Advancements: Innovation stands as a pivotal trend in the industrial microbiology market, with major players spearheading the development of advanced technologies to consolidate their market presence. A notable example is the BD Kiestra IdentifA system launched by US-based medical technology company Becton, Dickinson, and Company in January 2022. This groundbreaking system employs MALDI-ToF and automated colony technology to automate microbiological bacterial identification testing preparation. By automating manual tasks that are often time-consuming, the BD Kiestra IdentifA system minimizes the risk of human errors, leading to more precise patient diagnoses.
Strategic Acquisitions and Growth: In November 2022, IDEXX, a US-based provider of rapid microbiology testing services, acquired Tecta-PDS, a US-based water safety testing company, expanding its capabilities to provide clean and safe water worldwide. This acquisition underscores the industry's commitment to advancing microbiology solutions for global challenges.
Fueling Growth through R&D Investment: The industrial microbiology market is poised to experience significant growth due to increased Research and Development (R&D) investment in pharmaceutical companies. Such investments fuel innovation, leading to advancements in healthcare, nutrition, and environmental solutions. For instance, European health industries invested approximately €188.7 billion ($206 billion) in R&D in 2020, accounting for 20.8% of total business R&D expenditure globally. Additionally, increased R&D investment is evident in government initiatives, such as the UK Parliament's commitment to increase R&D investment to £20 billion ($22.05 billion) per year by 2024/25, driving R&D expenditure to 2.4% of GDP by 2027.
Encompassing Market Landscape: The industrial microbiology market encompasses services such as production hygiene, final product testing, preservation system design and evaluation, and disinfectant and treated article testing. The market also includes the sale of equipment and supplies used in industrial microbiology services, including slides, test tubes, petri dishes, growth mediums, and incubators.
Reasons to Choose the Report:
- Gain a comprehensive global perspective with a report covering 50+ geographies.
- Understand the market's response to COVID-19 and anticipate growth trends as the pandemic's impact recedes.
- Assess the implications of the Russia-Ukraine conflict on agriculture, energy, mineral commodities, and their direct and indirect impact on the market.
- Measure the influence of global inflation on market expansion.
- Develop region-specific and country-specific strategies backed by localized data and analysis.
- Identify high-potential growth segments for investment.
- Leverage forecast data and market insights to outperform competitors.
- Stay informed about customer preferences through the latest market shares.
- Benchmark your performance against key competitors.
- Enhance your internal and external presentations with reliable data and analysis.
Key Questions Addressed:
- What are the largest and fastest-growing markets for industrial microbiology?
- How does the industrial microbiology market correlate with the overall economy and related sectors?
- What factors will shape the market's future? The comprehensive global report on the industrial microbiology market provides answers to these and more questions.
Prominent Players in the Industrial Microbiology Market:
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- Bio-Rad Laboratories Inc.
- The Merck Group
- Becton Dickinson and Company
- Asiagel Corporation
- Eppendorf Group
- bioMerieux SA
- Novamed Ltd.
- QIAGEN N.V.
- Sartorius AG
- 3M
- Agilent Technologies Inc.
- vermicon AG
- Eurofins Scientific SE
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $14.51 billion |
| Forecasted Market Value (USD) by 2027 | $18.81 billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/hxk4um
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