According to the current analysis by Emergen Research, the Global Industrial Microbiology Market size is expected to reach USD 17.71 Billion in terms of revenue from USD 10.80 Billion, delivering a CAGR of 6.8% through 2027. The market growth is driven by the extensive application of industrial microbiology in the development of vaccines.
Microorganisms are the most favored sources for microbial enzymes due to their fast growth and easy accessibility. Extensive usage of microbial for effectively creating genetic changes with recombinant DNA technology for scientific development and accelerated enzyme production will foster industrial microbiology market size through 2027. However, high costs associated with the manufacturing of sterile products and maintenance of the aseptic processes may negatively impact industry growth.
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Key Highlights From Report:
- Based on product type, the reaction consumable segment is forecast to showcase a CAGR of 7% over 2020-2027 on account of extensive product usage for determining the origin of infections.
- On the basis of type, the sterility test sub-segment is forecast to hold a major chunk of the global industrial microbiology market share over the projected timeframe. Extensive usage of sterility testing for skin materials, surgical devices, drugs, pharmaceutical products, and other products that are supposed to be sterile or free from viable microorganisms is bolstering segmental growth.
- Based on end-use, the pharmaceutical & biotechnology sub-segment is forecast to dominate the market share with a growth rate of 7% through 2027. The segmental growth can be attributed the various advantageous of microbiology for the development of antibiotics in the pharmaceutical industry.
- In the regional landscape, North America is expected to lead the industrial microbiology market with a significant growth rate of 7% over the forecast period. The rapidly growing healthcare and manufacturing sectors in the U.S. will be stimulating regional industry growth in the coming years.
- Prominent players in the global industrial microbiology market are Danaher Corporation, 3M Company, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc., Eppendorf AG, Becton Dickinson and Company, Sartorius AG, Merck KGaA, BioMérieux SA, and Novamed Ltd, among others.
- These industry players are adopting several strategies, such as acquisitions, mergers, collaborations, new product development, and capacity expansion, thereby supporting the overall growth of the industrial microbiology market.
- Danaher Corporation acquired the Life Sciences subsidiary of General Electric Company in March 2020. Now being a part of Danaher, the subsidiary will be renamed as Cytiva, which will be an individual operating entity within Danaher’s Life Sciences division.
Emergen Research has segmented the Global Industrial Microbiology Market on the basis of product, type, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Reaction Consumables
- Laboratory Supply
- Equipment & Systems
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Microbial Limit Testing
- Water & Environmental Testing
- Sterility Testing
- Bio-Burden Testing
- End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Food & Beverages
- Pharmaceuticals & Biotechnology
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/industrial-microbiology-market