Global Microbial Identification Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global microbial identification market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
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The global microbial identification market is expected to post a CAGR of close to 7% during the period 2019-2023 (Graphic: Business Wire)
Food products consumed by individuals usually contain many types of microorganisms as they are composed of plants and animals. The chances of microbes coming in contact with the food and contaminating it is high during the production and consumption of food products. For instance, raw meat gets contaminated while slaughtering the animal. The microbial contamination of food items results in their spoilage, which can lead to foodborne illnesses when consumed. As a result, the use of microbial identification products and services helps in maintaining the quality of the food products launched in the market and curtails microbial contamination.
As per Technavio, the increased demand for microbial identification in cosmetic and personal care industries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global microbial identification market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global microbial identification market: Increased demand for microbial identification in cosmetic and personal care industries
The increase in disposable incomes along with a growing emphasis personal appearance has led to the global rise in demand for cosmetics. Microorganisms such as bacterial cells are considered potential sources of functional ingredients and additives to improve the quality of cosmetic products. However, manufacturers need to ensure that the products are free of harmful microorganisms and are safe for consumer use. Microorganisms in cosmetics may lead to chemical changes in the products and cause adverse effects. Cosmetics can get contaminated by poor manufacturing, packaging, storage, and shipping conditions, which is leading to an increase in demand for microbial identification.
“Microbiology has immense potential in the pharmaceutical industry. The development of microorganism-based products plays a pivotal role in the manufacture of antibiotics, insulin, vaccines, and steroids. However, contamination and ethical problems concerning the slaughter of animals for drug production pose major challenges. This is leading to an increase in the use of microbial identification in the pharmaceutical industry during the production of vitamins, steroids, and vaccines,” says a senior research analyst at Technavio.
Global microbial identification market: Segmentation analysis
This market research report segments the global microbial identification market by end-users (healthcare industry, food and beverage industry, and others) and geographic regions (Asia, Europe, North America, and ROW).
The healthcare segment held the largest microbial identification market share in 2018. The demand for microbial identification is increasing rapidly in this segment mainly due to the growth of the healthcare industry and the rising prevalence of rare diseases such as neonatal herpes and diphtheria.
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market in North America is driven by the US, owing to the growing focus on drug and vaccine discovery and development, and the presence of several pharmaceutical companies in the country.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 04/15/2019 10:12 AM/DISC: 04/15/2019 10:12 AM