The industrial microbiology market is expected to grow at a CAGR of 7.5%. Industrial microbiology is growing rapidly due to advancement in the health care industry. Industrial microbiology is a branch of biotechnology that applies microbial sciences to create industrial products in mass quantities, often using microbial cell factories. The key drivers include rise of application in testing organization, gas companies, and food and beverage industry. The key application areas include pharmaceutical, agriculture, environment, gas, cosmetics, food and beverage. The rise in application of fermentation process across various industries remained as the key booster to the growth of industrial microbiology market. Covid 19 led to exponential demand for medical microbiology applications due to increased research targeting at understanding the aspects of virus with respect to virulence, mode of transmission and methods to eradicate and so on.
Many industries use microbiology for quality control purposes, to conclude that there are no living contaminants or to figure out what type of contaminants exist so as to eliminate them from medical deliverables. Industrial microbiology equipment includes microscopes, slides, test tubes, petri dishes, growth mediums, inoculation loops, pipettes tips, incubators, autoclaves and laminar flow hoods. Large-scale fermentations are utilized to create massive quantities of ethanol which are used for food production, alcohol production, and even gasoline production. Continuous efforts are made by the pharmaceutical and food sector to ensure better health of consumers, by intense focus and investment in research and development. The global pharmaceutical sector reached $ 405.52 billion in 2020 therefore, promising significant opportunities in this industry. Rapid evolution of biological drugs, vaccines gives rise to safety challenges and issues, companies are establishing and upgrading programs to reduce risk factors. Rising demand for drugs, vaccines, dairy products, agricultural feed, environmental monitoring for microbes are the factors contributing to the growth of the industrial microbiology market. Pharmaceutical and biotechnology segment held the largest share in the end-user segment, due to the role of microbiology on the advances in the pharmaceutical and biotechnology industries has resulted in to the discovery from vaccines to medical devices, and dietary supplements, which is directly responsible for the growth of industrial microbiology market.
Increase in revenues across various application segment such as energy and healthcare, focus on infrastructure, increased investment in R&D by end user companies is the key driver for market growth in North America. However, the market is highly competitive in this region. North America therefore ranks first with respect to market revenues followed by Europe & Asia pacific. The American society for microbiology ensures adherence of regulation in this segment by creating awareness and enabling the companies to follow guidelines and furthermore aids investments for R&D.
Furthermore, the favourable reimbursement scenario and strong investment from the federal government in the U.S. is further assisting the growth of industrial microbiology market in the region. Asia-Pacific emerged as the most attractive region and is expected to grow at the fastest growth rate during the forecast period of 2023-2030. The factors driving the Asia-Pacific market are flourishing industrial outlook with modern amenities and techniques. Furthermore enhanced measures to maintain the safety and quality of the products are further fuelling the market growth, apart from keen focus on research on Covid 19 vaccination.
The pandemic boosted the medical microbiology market as there was increase in the diagnostics and patient testing. Medical microbiology is playing a key role in vaccine research, treatment options, identifying variants of the virus and so on. Medical microbiology is also applied in other infectious diseases such as HIV, HPV, hepatitis b and c. Therefore, the pandemic led to boost in the market revenues, also placing efficient cost models in place.
Key market players include Becton Dickinson and Company, BioMerieux, Bio-Rad Laboratories Inc, Thermo Fisher Scientific Inc, Qiagen NV, 3M Company, Agilent Technologies, Danaher Corporation, Eppendorf AG, Sigma Aldrich. The key strategies include focusing on medical technological innovation, mergers, and acquisition, long term growth by ensuring appropriate investments.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Industrial Microbiology market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
