Microbial Identification Market to Reach an Opportunity of US$ 1.4 billion by the End of 2022

Future Market Insights has recently published an exclusive forecast report on the global market for microbial identification. In the foreseeable future, improvements in techniques adopted by microbiologists for identifying pathogens and examining microbial cultures will factor developments in microbial identification systems. From healthcare to food & beverage, the vital use of microbial identification in applied research projects will continue to boost the growth of the global microbial identification market. By 2022-end, microbial identification systems are pegged to become a global market worth US$ 1.4 billion. During the forecast period, 2017-2022, the global market for microbial identification will be registering a robust growth at 6% CAGR.

The global microbial identification market is segmented on the basis of product type, application, technology, end user and region.

As products, bacterial identification systems will remain sought-after in the global market. Although, by the end of 2022, over US$ 300 million worth of microbial enumeration systems are anticipated to be sold globally.

In 2017, pharmaceutical and biotechnology industry will be observed as the largest end-user of microbial identification. The report also anticipates a steady end-use of microbial identification systems in water and environment industry throughout the forecast period. Independent research laboratories, in particular, will record fastest revenue growth from the end-use of microbial identification methods.

Through 2022, food & beverage testing applications are anticipated to reflect moderate growth by registering a CAGR of 4.7%. To the contrary, diagnostic applications of microbial identification will gain fastest traction, and procure more than US$ 350 million revenues in the global market by the end of the forecast period.

The report observed genotypic methods as promising technologies in the global market for microbial identification. Over the forecast period, the adoption of genotypic microbial identification methods is anticipated to increase at a momentum which will be marginally higher compared to phenotypic microbial identification techniques.

The report also reveals that North America will register highest sales of microbial enumeration systems, primarily due to the high reliability of these systems, and their low prices.

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