New York, March 20, 2024 (GLOBE NEWSWIRE) -- The global industrial microbiology testing services market size is slated to expand at ~11% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 15 billion by the end of 2036, up from a revenue of ~USD 5 billion in the year 2023.This market growth is poised to be dominated by a growing elderly population. As per the predictions of the World Health Organization, the population of people in the world aged 60 years and older is expected to double (2.1 billion) by 2050. Hence, the demand for industrial microbial testing services is projected to rise. This is because old people have weaker immune systems which necessities quality medications. As a result, the demand for industrial microbial texting is predicted to grow.
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Furthermore, the growing prevalence of infectious diseases such as COVID-19 is also estimated to influence the market expansion. In the world, approximately 767 million cases of Covid-19 were registered as of June 13, 2023. Therefore, the demand for medications is also estimated to surge which is further estimated to encourage the demand for industrial microbial testing services.
Growing Population to Boost the Growth of Global Industrial Microbiology Testing Services Market
Across the globe, the population is rising at a proportion of approximately 0.90%. Furthermore, it is projected that every year over 72 million people are added. Hence, owing to this the demand for food is also estimated to rise which is further poised to increase the market demand for industrial microbiology testing services to ensure the safety of the food by testing the food to observe the presence of pathogens. This reduces the prevalence of food contamination, deterioration, and health problems.
Industrial Microbiology Testing Services Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Healthcare Expenditure to Encourage Market Expansion in North America
The North American market for industrial microbiology testing services is projected to rise owing to growing healthcare expenditure. Healthcare spending increased by 4.1 percent in 2022 in the US, reaching USD 4.5 trillion or USD 13,493 per person. Hence, the adoption of industrial microbiology testing services is set to rise in the healthcare industry in this region.
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Surging Urban Population to Drive the Market Growth in Asia Pacific
The Asia Pacific market for industrial microbiology testing services is estimated to have notable growth of the market. This market growth is poised to be dominated by the rising urban population. For instance, about 2.2 billion population is set to be residing in Asia’s urban region. This means that about 54% of the globe’s urban people are residing in Asia. This number is estimated to grow by close to 50% by 2050.
Industrial Microbiology Testing Services, Segmentation by End-User
- Food & Beverages
- Pharmaceutical & Biotechnology
- Agricultural
- Environmental
- Cosmetics & Personal Care
The pharmaceutical & biotechnology segment in the industrial microbiology testing services market is predicted to generate the highest revenue share of over 30% over the coming years. This growth of the segment is set to be influenced by the growing prevalence of HIV. In the world, over 39 million population considered to have HIV in 2022. Amongst these, 1.5 million are children and adults amounted to 37.5 million. The proportion of women stood at 53%.
Industrial Microbiology Testing Services, Segmentation by Test Type
- Sterility Testing
- Microbial Limits Testing
- Bio-Burden Testing
- Water Testing
- Air Monitoring Tests
The sterility testing segment is set to generate the largest share in the market of about 32% over the forecast period. This growth is segmented to be encouraged by growing investment by pharmaceutical on R&D. For instance, spending on research & development in the pharmaceutical companies amounted to over USD 243 billion in the world.
Industrial Microbiology Testing Services, Segmentation by Product Type
- Reaction Consumables
- Equipment & Systems
A few of the well-known industry leaders in the global industrial microbiology testing services market that are profiled by Research Nester are Charles River Laboratories, Spectro Analytical Labs Pvt. Ltd., Pace® Analytical Services, Biotech Testing Services, Merck KGaA, TÜV SÜD, Precise Analytics Lab, Eurofins Scientific, Biocare Research (India) Pvt. Ltd. • STERIS, Intertek Group Plc, and others.
Recent Development in the Market
- The introduction of Accugenix was announced by Charles River Laboratories for fungal identification and bacterial identification that gives necessary knowledge regarding microbial management to pharmaceutical and personal care products.
- The acquisition of Alpha Analytical was announced by Pace@ Analytical Services to introduce additional capabilities which include tissue testing, increased sediment, and sophisticated hydrocarbon analytical support to test tissue, soil, and water.
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