Industry Outlook and Trend Analysis
The Bacteriological Testing Market was worth USD 7.66 billion in the year of 2014 and is expected to reach approximately USD 14.96 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.72% during the forecast period. The worldwide increase in incidences of foodborne diseases, usage of stringent rules regarding safety of food in developed economies, and increment in rates of microbial defilement in water reservoirs because of more industrial and urban waste are the components driving this market.
Bacteria Outlook and Trend Analysis
On the basis of bacteria the market is fragmented into Campylobacter, Coliforms, Listeria, Coliforms, Salmonella, and others. The market for testing for Salmonella commanded in 2016, and is additionally anticipated to be quickest developing section amid the conjecture time frame. The seriousness of disease by this pathogen is developing the interest for Salmonella testing in samples of food and water, which thus is driving the market for bacteriological testing.
Technology Outlook and Trend Analysis
Based on technology the market has been sectioned into rapid and traditional. In 2016 the rapid technology portion ruled the market and is anticipated to develop at a higher CAGR in the upcoming years. This is because of sensitivity, higher precision, low turnaround time, and capacity to test an extensive variety of bacteria when compared with conventional technological strategies.
End User Outlook and Trend Analysis
On the basis of end user the market is sectioned into water, pharmaceutical, cosmetics, and food & beverage. Testing for bacterial defilement in food & beverage is performed for checking and evaluation of food quality, and approval of food safety, so as to dispense with the danger of bacterial tainting. Bacteriological testing is performed over the food & beverage industry because of the rising occurrence of foodborne diseases, food spoilage, or food related intoxication for the identification of different bacterial contaminations. The pharmaceutical section is anticipated to develop at the most astounding CAGR in the general bacteriological testing market amid the examination time frame. This is ascribed to key factors, for example, the existence of entrenched and all around acknowledged directions that oversee the assessment of bacterial tainting amid pharmaceutical producing and raw material sourcing combined with the expanding volume of pharmaceutical medications sold each year, increase in safety concerns related to pharmaceutical manufacturing in emerging countries, expansion of the drug development pipeline of key pharmaceutical manufacturers, and rise in market demand for safer drugs for disease treatment.
Component Outlook and Trend Analysis
On the basis of component the market has been fragmented into test kits, consumables & reagents, and instruments. In 2016 this market was commanded by the instruments fragment. The predominance of instruments is owing to the advent of complex and enhanced advancements, expanded adequacy of instruments, and high cost of such instruments when compared with different parts. The market for consumables and reagents is anticipated to be the quickest developing amid the figure time frame. Consumables and reagents are fundamental parts to be used to take after the set compliances of equipment. In this way, expanding specialized and administrative multifaceted nature and their wide use in various instruments is driving this market.
Regional outlook and Trend Analysis
North America represented the biggest share of the overall industry in the bacteriological testing market. The prevailing share of this area is credited to the stringency of food security controls and laws relating to nutritious substance and marking in the area. It has the most astounding number of testing research centers among all districts and tests the most number of bacteriological examples. The development of the Asia Pacific market is anticipated to be the speediest in the upcoming years, and is driven by Australia, China, and Southeast Asian nations, as these nations are ending up more conscious of nourishment security and are actualizing controls for their testing.
The market is extensively competitive with leading players such as Eurofins Scientific, Thermo Fisher Scientific, Bureau Veritas, SGS India, Agilent Technologies, ALS, Romer Labs, Merck & Co and Bio-Rad Laboratories. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Bacteriological Testing Market is segmented as follows-
Consumables & reagents
By End User:
Food & beverage
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?