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Global Microbial Identification Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

The Associated Press

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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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005078/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/15/2019 10:12 AM/DISC: 04/15/2019 10:12 AM

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