The global microbiology culture market is estimated to gain a valuation of US$ 10 Bn by 2027, notes an assessment by Transparency Market Research (TMR). Moreover, the market for microbiology culture is prognosticated to develop at a CAGR of 6% during the forecast period, 2019 – 2027. The market growth is ascribed to many factors including a surge in the demand for next-gen antibiotics across the globe.
The global microbiology culture market outlook offers panoramic view of the market. Hence, readers gain complete assessment of key factors influencing the market growth, which include the growth drivers, growth opportunities, demand and supply ratio, growth restraints, regional analysis, R&Ds, competition landscape, and emerging trends in the microbiology culture market. This aside, the report enlightens readers on the recent developments in the microbiology culture market.
Microbiology culture is being utilized for a wide range of applications including the bioenergy & agricultural research, cosmetic industry, food & water testing, and pharmaceutical industry. This broad application is estimated to result into revenue-generation opportunities in the microbiology culture market in the forthcoming years, notes a TMR analysis.
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Rise in R&D Activities Fuels Sales Growth in Microbiology Culture Market
The global microbiology culture market is anticipated to gain profitable opportunities in the forthcoming years owing to many factors including a rise in the adoption of improved antibiotics across the globe and growth in the funding focused on the life science researches. Moreover, the global microbiology culture market is being driven by technological advancements in the food microbiology segment and increase in the cases of different foodborne and other infectious disorders across the globe.
Over the period of past few years, there has been a surge in the cases of food safety concerns, note analysts of a TMR report. Moreover, the number of incidences related to food recalls are being increasing around the world. These factors are resulting into sizable business avenues for companies in the global microbiology culture market. This aside, the market is being driven by several factors such as evolving nature of pathogens, increasing press coverage and people awareness, and rise in the use of microbiology culture across different other end-use industries across the globe.
Players in Microbiology Culture Market Invest Heavily in R&D Projects
Some of the leading players in the microbiology culture market include bioMérieux S.A, Becton, Dickinson and Company, Eiken Chemical Co, Ltd., Bio-Rad Laboratories, Inc., Hi-Media Laboratories Pvt. Ltd., EMD (Merck) Millipore, Sigma-Aldrich Co. LLC, Neogen Corporation, Thermo Fisher Scientific, Inc., and Scharlab S.L.
The existence of numerous well-entrenched companies makes the competition landscape of the global microbiology culture market highly intense. This factor is encouraging microbiology culture service provider companies to execute organic and inorganic strategies in order to sustain in the high competitions. Hence, there has been a surge in the number of mergers, acquisitions, partnerships, and collaborations in the market for microbiology culture.
Players operating in the microbiology culture market are investing heavily in R&Ds in order to improve the quality of services they provide. Moreover, such R&D initiatives are also helping companies to launch innovative products. Such factors, in turn, are helping in the rapid expansion of the microbiology culture market.
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North America: Profitable Market Region
The microbiology culture market is spread across many regional segments such as Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Of them, North America is one of the dominating region in the market for microbiology culture owing to factors such as rise in the number of R&D projects in the region for the development of next-gen treatment solutions for different diseases.