Jun 15, 2023

News Provided By Share This Article CHICAGO, UNITED STATES, June 15, 2023/ EINPresswire.com / -- The demand for rapid and more precise testing procedures across various industries is likely to drive the global rapid microbiological testing market from 2023 to 2031. The global market is projected to rise from US$ 4.3 billion in 2022 to US% 8.8 billion in 2031, registering a CAGR of 9.24%. Request Sample Report @ https://www.astuteanalytica.com/request-sample/rapid-microbiology-testing-market The global market is growing due to the rising consumer demand for quick and precise microbiological detection and identification, technical improvements, and expanding healthcare systems in developing nations. According to the Institute of Food Technologists (IFT), rapid approaches and consistently developing technologies have changed microbiological testing. Rapid testing is gaining popularity as a field of study and a trustworthy instrument both domestically and globally. In order to offer solutions more quickly, researchers have taken up the task and created a new diagnostic method. According to information provided by the European Commission, since the beginning of the pandemic, the organization has coordinated European and international research efforts. The Horizon 2020 program has already raised US$ 570 Mn in investment since January 2020. The HG nCoV19 test was funded by the first emergency call, which had a US$ 57.9 M budget and was the first stage in this mobilization. Infectious diseases, such as malaria, pneumonia, HIV, COVID-19, tuberculosis, and HIV are growing more prevalent. Globally, 38.4 million people had HIV/AIDS as of 2021, and 690,000 people died from AIDS-related illnesses in 2020. In 2021, an estimated 245 million individuals were diagnosed with malaria, and 619,000 patients died. In order to encourage early detection and preventive healthcare, there are now more awareness efforts for certain disorders. As the prevalence of these diseases has grown, so has the necessity for rapid microbiological tests. For instance, according to the World Health Organization (WHO), more than 76 million people had been diagnosed with COVID-19 as of the beginning of 2023, and more than 6.8 million of those individuals had died from the sickness. The number of new cases has drastically fallen since its peak. These techniques make it possible to quickly and accurately screen for microbes, identify them, and test them for disease resistance, all of which are expected to drive market growth. Instrument Segment to Generate 54% of the Revenue Share This is due to the increased demand for quick and precise microbe detection and identification. This is especially significant in fields where prompt decision-making is essential, such as clinical, food and beverage, and environmental testing laboratories. The occurrence of infectious diseases and foodborne illnesses is rising, which has fueled the segment expansion. Technology developments have produced inventive and effective fast microbiological testing apparatuses, including MALDI-TOF and PCR-based systems. Drug Testing to Develop More than 22% Revenue of the Global Rapid Microbiology Testing Market The pharmaceutical and biological drug testing segment is anticipated to account for more than 22% of market revenue. This section covers testing for pharmaceutical and biologic products' efficacy and safety and for maintaining product quality during production. The global market for pharmaceutical and biotech microbiological testing was estimated to be worth US$ 920.85 million in 2022 and is projected to grow to US$ 1,995 million by 2031, according to a report by Astute Analytica. According to the study, factors, including rising drug approval rates and growing demand for quality control testing fuels the segment growth. As part of the drug clearance process, the U.S. FDA mandates that pharmaceutical companies undergo various microbiology tests, such as checks for sterility, endotoxin levels, and microbial limits. In 2021, FDA carried out over 9,500 microbiological tests on pharmaceutical goods and raw materials. North America to Dominate Global Rapid Microbiology Testing Market with Over 38% Revenue Share With more than 38% of global market revenue coming from North America, this region holds the highest market share. The high prevalence of microbial infections in the region and the sophisticated healthcare infrastructure that facilitates quick microbiological testing are two factors that contribute to this market domination. With millions of cases recorded each year, infectious diseases in North America have a heavy toll. With approximately 4.4 million notifiable infectious disease cases recorded in the United States in 2021 alone, infectious diseases continue to pose a serious threat to public health. Similar to the United States, approximately 225,000 instances of notifiable infectious illnesses were reported in Canada in 2021, making them a serious public health concern. According to the Public Health Agency of Canada (PHAC), infectious illnesses continue to be a serious public health concern in Canada. Over 225,000 cases of notifiable infectious diseases, including foodborne illnesses, respiratory infections, and sexually transmitted infections, were reported in Canada in 2021, according to the PHAC. Flu, pneumonia, hepatitis, STDs, and foodborne illnesses are some of the most prevalent infectious disorders in the North America rapid microbiological testing market. Geographical and demographic factors influence the prevalence of these diseases, with different populations and regions being more vulnerable owing to several environmental and lifestyle factors. Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/rapid-microbiology-testing-market Companies Profile Abbott Laboratories, Becton, Dickinson and Company, Merck KGaA, and Thermo Fisher Scientific Inc. are the top 4 market participants for fast microbiology testing globally. The companies have observed how the major players have used new product launches, mergers and acquisitions, partnerships, joint ventures, and partnership strategies to acquire a competitive edge. The companies are also adopting highly efficient, sophisticated automated microbiological technologies. Key Players Some of the strategies adopted by key players include: • In April 2023, a six-year agreement between bioMérieux and JMI Laboratories (JMI) is announced in order to carry out joint research examining the effectiveness and expanding the potential of quick and cutting-edge microbiology diagnostics as crucial weapons in the fight against AMR. • In Sept 2022, Rapid Microbial Method, created by Microgenetics, has a six-hour turnaround time. As compendial methods of microbial contamination tests have a turnaround time of 14 days, and even speedier technologies require roughly 4 days, this vital stage is costing many enterprises time and resources. • In March 2021, NEOGEN's Soleris® is a new generation of quick microbiological testing technology. Soleris Next Generation (NG) is a quick, automated microbial testing technology that identifies microorganisms in food, nutraceutical, and cosmetic matrices quickly and accurately. • In Feb 2021, in order to create an at-home COVID-19 quick test using a BD antigen test and the Scanwell Health mobile app, Becton, Dickinson, and Company and Scanwell Health partnered. As part of the collaboration, BD developed a lateral flow antigen test that will work with the Scanwell Health mobile app. The app will probably provide comprehensive instructions on how to collect a nasal swab sample, transfer it, and use the phone's camera to review and decipher the results. • In September 2020, HiMedia Laboratories and Syngene International established a partnership to combine research and development services for the production of the "ELISafe 19TM" IgG-based ELISA test kit for COVID-19. The Indian Council of Medical Research (ICMR) has authorized the kit. A fantastic offering of 100% sensitivity and 99% specificity characterizes the new product. Segmentation Outline By Product About Astute Analytica Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us. Aamir Beg