The intense rivalry between Merck Millipore, Thermo Fisher, Sigma-Aldrich, and Becton, Dickinson and Co. characterizes the competitive landscape of the global microbiology culture market, finds a research study by Transparency Market Research (TMR). In 2015, these four players held a share of nearly 53% in the overall market.
With leading participants focusing aggressively towards product innovation and reaching new breakthroughs, the competition within the market is likely to remain high over the next few years. These companies are looking to expand their bases to emerging economies, such as India, Brazil, and China, in order to exploit the untapped opportunities they hold.
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According to the research study, the worldwide market for microbiology culture presented an opportunity worth US$4.51 bn in 2014. Progressing at a CAGR of 5.90% during the period from 2015 to 2023, the market is likely to reach US$7.59 bn by the end of the forecast period. Bacterial culture has gained prominence in the global market and is expected to retain it over the period of forecast, expanding at a CAGR of 6.70%.
Significant Rise in Government Funding to Ensure North America’s Lead
The report also analyzes the global market for microbiology culture on its geographical presence. As per the study, Asia Pacific, North America, Europe, the Middle East, Latin America, and the Rest of the World are the main geographical sections of this market. With the significant rise in the government funding to increase research and development activities in microbiology, Europe and North America have emerged as the leading contributors to the global market. Researchers project North America to retain its position with a share of nearly 35% by the end of the forecast period.
On the similar line, Asia Pacific is also anticipated to witness strong growth over the forecast period, thanks to the rise in the disposable income of consumers, advancement in healthcare infrastructure, and the high prevalence of infectious diseases.
Growing usage of Antibiotics in Bacterial and Protozoan Infection Therapeutics to Boost Demand for Microbiology Culture
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“The increasing demand for antibiotics is the key factor behind the rising the practice of microbiology culture,” states the author of this study. With the growing usage of antibiotics for the treatment of various bacterial and protozoan infections, the need for its large-scale production has increased substantially as the available quantity of naturally-occurring antibiotics is very less. As a result, microbes are being cultured under controlled conditions to raise their biomass and separate antibiotics from them, which eventually, is leading to a remarkable rise of the global microbiology culture market.
On the flip side, the high costs of culture media and the constant operation of fermentation vessel over a number of weeks may create obstacles to the growth of this market over the next few years. The difficult procedure of alternative nutrient source identification for the progression of various microorganisms in a bid to meet the exact requirements and the urgent need to decrease the cost of large-scale fermentation are also projected to limit microbial culture practices in the coming years, states the research report.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Microbiology Culture Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”