Global Microbial Identification Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
16 April 2019 - 12:12AM
Business Wire
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 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
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version on businesswire.com: https://www.businesswire.com/news/home/20190415005078/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com