Global Rapid Microbiology Testing Market to Sales Revenue of USD 8.8 Billion by 2031: Astute Analytica
The global rapid microbiology testing market is expected to see significant growth in the coming years, driven by factors such as increasing demand for fast and accurate microbial detection and identification, technological advancements, and expanding healthcare systems in developing countries. The market is projected to generate over US$ 8.8 billion in revenue by 2031, with the cellular component-based rapid microbiology testing and pharmaceutical and biological drug testing segments expected to see particularly high growth.
New Delhi, April 13, 2023 (GLOBE NEWSWIRE) -- Global rapid microbiology testing market is expected to be valued at USD 8.8 billion by 2031 from USD 4.3 billion in 2022, growing at a CAGR of 9.24% during the forecast period 2023-2031.
There has been a growing demand for rapid microbiology testing around the globe in recent years, driven by the increasing prevalence of microbial diseases and the need for timely and accurate diagnosis. Microbial diseases, caused by bacteria, viruses, fungi, and other microorganisms, are a major global health concern, affecting millions of people each year and leading to significant morbidity and mortality.
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The COVID-19 pandemic has had a significant impact on the rapid microbiology testing market. The pandemic has highlighted the importance of rapid and accurate diagnostic testing for infectious diseases, and there has been a surge in demand for COVID-19 diagnostic tests since the outbreak began in early 2020. The global COVID-19 testing market was valued at $33.3 billion in 2020. As of early 2023, over 76 million people had been diagnosed with COVID-19 globally, according to data from the World Health Organization (WHO) and more than 6.8 million succumb to the disease. However, the number of new cases declined to a great extent from the peak.
In addition to COVID-19, there have been several other microbial outbreaks in recent years that have affected large numbers of people. For example, the Ebola virus outbreak in West Africa in 2014-2016 resulted in over 28,000 cases and 11,000 deaths, according to the WHO. Similarly, the Zika virus outbreak in Latin America in 2015-2016 affected an estimated 1.3 million people, according to the Pan American Health Organization.
*Global Microbial Disease Burden in Global Rapid Microbiology Testing Market *
· Tuberculosis (TB): TB is caused by the bacterium Mycobacterium tuberculosis and is one of the top 10 causes of death worldwide. In 2021, an estimated 10.6 million people fell ill with TB globally, and 1.5 million died from the disease.
· HIV/AIDS: Human immunodeficiency virus (HIV) is a virus that attacks the immune system, leading to acquired immunodeficiency syndrome (AIDS). As of 2021, around 38.4 million people were living with HIV/AIDS globally, and approximately 690,000 people died from AIDS-related illnesses in 2020.
· Malaria: Malaria is a parasitic disease transmitted by mosquitoes. It is a major public health problem in many tropical and subtropical regions. In 2021, an estimated 245 million people were affected by malaria, and approximately 619,000 people died from the disease.
· Hepatitis: Hepatitis is a viral infection that affects the liver. There are several types of hepatitis in the global rapid microbiology testing market, including hepatitis A, B, C, D, and E. In 2021, an estimated 354 million people were living with chronic hepatitis B or C globally, and approximately 1.3 million people died from the disease.
· Influenza: Influenza, commonly known as the flu, is a contagious respiratory illness caused by influenza viruses. It can cause mild to severe illness and can lead to hospitalization and even death, especially in high-risk populations such as young children, older adults, and people with underlying health conditions. It is estimated that influenza affects between 3 and 9 million people worldwide each year, with up to 650,000 deaths annually.
*Cellular Component Based Rapid Microbiology Testing to Contribute Over $1.7 Billion to Market *
The cellular component-based rapid microbiology testing market is expected to see substantial growth in the coming years, with this technology generating more than 20% of the overall market revenue. The growth of this market is being driven by the need for faster, more accurate, and more sensitive detection of microbial pathogens, which is crucial for effective treatment and control of infectious diseases.
Cellular component-based rapid microbiology testing is used in the diagnosis of several major diseases, including infectious diseases, foodborne illnesses, and healthcare-associated infections. With the increasing demand for faster and more accurate diagnostic testing for these diseases, the cellular component-based rapid microbiology testing market is expected to continue growing in the future.
In addition to increased demand, several other factors are contributing to the growth of this market, including technological advancements, expanding healthcare systems in developing countries, and growing awareness of the importance of food safety. The COVID-19 pandemic has also led to increased investment in microbiology testing and the development of new testing technologies, which is likely to benefit the cellular component-based rapid market as well.
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*Drug Testing to Generate more than 22% Revenue of Global Rapid Microbiology Testing Market *
The pharmaceutical and biological drug testing segment is a significant part of the global rapid market, and is expected to generate more than 22% of the market revenue. This segment includes testing for the safety and efficacy of pharmaceuticals and biologics, as well as for quality control during the manufacturing process.
According to a report by Astute Analytica, the global pharmaceutical and biotech microbiology testing market size was valued at $920.85 million in 2022, and is expected to reach a valuation of $1,995 million by 2031. The report notes that factors such as increasing demand for quality control testing and the growing number of drug approvals are driving the growth of this market.
The U.S. FDA requires drug manufacturers to conduct a range of microbiology testing as part of the drug approval process, including testing for sterility, endotoxin levels, and microbial limits. In fiscal year 2021, the FDA conducted over 9,500 microbiology tests on pharmaceutical products and raw materials.
*North America to Dominate Global Rapid Microbiology Testing Market With Over 38% Revenue Share *
North America is the largest market, generating over 38% of the global market revenue. This market dominance is driven by several factors, including the high prevalence of microbial diseases in the region and the advanced healthcare infrastructure that supports rapid microbiology testing.
The burden of microbial diseases in North America is significant, with millions of reported cases each year. In the United States, infectious diseases remain a significant public health threat, with over 4.4 million reported cases of notifiable infectious diseases in 2021 alone. Similarly, in Canada, infectious diseases are a significant health issue, with over 225,000 reported cases of notifiable infectious diseases in 2021.
In Canada, the Public Health Agency of Canada (PHAC) reports that infectious diseases remain a significant health issue. According to the PHAC, there were over 225,000 reported cases of notifiable infectious diseases in Canada in 2021, including sexually transmitted infections, foodborne illnesses, and respiratory infections
Some of the most common infectious diseases in North America rapid microbiology testing market include influenza, pneumonia, hepatitis, sexually transmitted infections, and foodborne illnesses. The burden of these diseases varies by demographic and geographic factors, with certain populations and regions at higher risk due to various environmental and lifestyle factors.
Despite the high burden of infectious diseases, North America benefits from advanced healthcare infrastructure that supports rapid microbiology testing. This infrastructure includes well-equipped laboratories, advanced diagnostic tools, and experienced healthcare professionals who can quickly and accurately diagnose and treat microbial diseases.
*Some of the Top Market Players Are:*
· Abbott Laboratories
· Becton, Dickinson and Company
· Biomerieux SA
· Bruker Corporation
· Charles River Laboratories International, Inc.
· Danaher Corporation
· Don Whitley Scientific Limited
· Merck KGaA
· Mocon, Inc
· Neogen Corporation
· Quidel Corporation
· Rapid Micro Biosystems Inc.
· Sartorius AG
· Thermo Fisher Scientific Inc.
· Vivione Biosciences LLC
· Other Prominent Players
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