Rapid Microbiology Testing Market

BioMérieux (France) and Danaher are leading players Rapid Microbiology Testing Market

The global rapid microbiology testing market is projected to reach USD 5.09 billion by 2023 from USD 3.45 billion in 2018, at a CAGR of 8.1%. Growth in the rapid microbiology testing market can be attributed to factors such the rising prevalence of infectious diseases; ongoing technological advancements; increasing food safety concerns; and increased funding, research grants, and public-private investments. Emerging countries and a growing focus on the detection of antimicrobial resistance are expected to provide significant growth opportunities in the market. On the other hand, reimbursement concerns and the high cost of automated instruments are the key factors that are expected to restrain market growth to a certain extent during the forecast year.

Analysis of the market developments between 2015 and 2018 revealed that several growth strategies such as product launches, enhancements, and strategic acquisitions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the rapid microbiology testing market. Among these business strategies, product launches and approvals were the most widely adopted growth strategies by the players in the rapid microbiology testing market.

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BioMérieux (France) held the leading position in the global rapid microbiology testing market in 2017. The company has a robust product portfolio and a strong geographical presence in more than 150 countries across the world. The company has a comprehensive range of solutions for rapid microbial identification, resistance detection, and the diagnosis of bacterial infection. In 2017, the company focused extensively on research and development efforts to accelerate growth, with ~13.3% of its sales invested in R&D. This heavy investment in R&D is driving the launch of new and technologically improved products by the company. For instance, in July 2016, the company enhanced the VITEK MS system’s performance by improving and updating its database and reagent kits to include the identification of 297 new species. This helped the company to strengthen its position and expand its revenue in the rapid microbiology testing market.

Danaher is one of the leading companies in the healthcare and life science research industry. The company focuses on acquisitions, partnerships, and new product launches to strengthen its market position. Danaher acquired many companies from 2011–2018, including Beckman Coulter Inc. (one of the key companies in the life sciences and diagnostics market in the US), Cepheid (US), Siemens Healthineers’ clinical microbiology business, and Xitogen Technologies Inc. (China) with the aim to expand its molecular diagnostics product portfolio and increase its market share in the rapid microbiology testing market. The company has launched innovative products in recent years, such as MicroScan and the DxN VERIS Molecular Diagnostics System. These products have helped the company increase its revenue and maintain its position in the rapid microbiology testing market.

Related Reports:

Rapid Microbiology Testing Market by Method (Growth, Viability), Product (Automated Microbial Identification & AST System, PCR, Reagent), Application (Clinical Diagnosis, Environmental), End User (Labs, Hospitals, Industry) - Global Forecast to 2023

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Report Code
MD 6602
Published ON
Sep, 2018
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