ALBANY, New York, April 13, 2017 /PRNewswire/ --
Six of the prominent companies, comprising Thermo Fisher Scientific,Inc., BioMerieux, Inc., Becton, Dickson and Company, IDEXX Laboratories, Inc., Alere, Inc, and Meridian Bioscience, Inc., held nearly 57% of the global E. coli testing market in 2016. The current scenario is indicative of a highly fragmented vendor landscape
Besides innovating products, the key players in the global E. coli testing market are cashing in their extensive geographic presence and recent technological advancements. In addition, consolidating market share via acquiring regional players is a key strategy adopted by the leading companies to expand their regional footprint. These strategies adopted by companies to strengthen their foothold have a profound impact on the market.
Spurred by the same and other growth drivers, the global E. coli testing market will exhibit a CAGR of 8.0% between 2017 and 2025. At this pace, the market is forecast to reach US$2.36 bn by the end of 2025, from its valuation of US$1.18 bn in 2016.
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North America to Retain its Lead through Forecast Period
Among the key regional markets, North America emerged dominant with a share of 44.5% in 2016. Through the course of the forecast period, North America is expected to retain its dominance as it continues being an early adopter of the latest technologies. The presence of a sophisticated healthcare and pharmaceutical infrastructure also aided the expansion of the E. coli testing market in North America.
In terms of end user, home and drinking water suppliers constituted the leading segment in the global E. coli testing market. They held over 49.7% share in the overall market in 2016 and are expected to remain a dominant segment also in the coming years.
Need to Check Food and Water-borne Diseases to Fuel Demand E. Coli Testing
The incidence of E. coli has rapidly increased in the last few years, raising concerns globally. The demand for advanced testing methods, for accurate and timely diagnosis is thus at all-time high. "Alarmed by the rise of water and food-borne diseases, especially in underdeveloped and developing nations, investment towards advanced diagnosis and treatment methodologies has increased," said a lead TMR analyst. E. coli has been identified as a major causative organism of water and foodborne diseases. E. coli testing has thus become crucial to curb the spread of diseases such as diarrhea and hemolytic uremic syndrome (HUS).
This however could not be possible without positive government initiatives around the world. Efforts by nongovernment organizations to curb the morbidity due to water and food borne diseases are also exemplary. Various governments have toughened their regulations for the food industry. Such steps taken towards ensuring health and wellness of larger population will bolster opportunities for the global E. coli testing market. Besides this, the market will gain impetus from factors such as the development of drug-resistance species, stringent approval norms for novel therapeutics, and steps taken to ensure early diagnosis of ailments. In addition, the presence of untapped opportunities in developing and underdeveloped nations will help several companies operating in the market gain pace in the near future.
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High Cost of Enzyme-substrate Test to Create Hindrances for Market
On the downside, the high cost of enzyme-substrate test, which is a key method of E. coli testing is acting against the market. Also lack of health and food safety awareness in emerging and underdeveloped nations is also a major bottleneck. Nevertheless, as companies focus on research and development of novel therapeutics and governments create an environment encouraging the same, the market will gain considerable growth opportunities. Additionally, the advent of polymerase chain reaction (PCR) based tests environment water testing will boost the market in the coming years.
This review has derived information from a TMR study, titled "E. Coli Testing Market (Testing Method - Environmental Testing Method (Membrane Filtration (MF), Multiple Tube Fermentation (MTF), and Enzyme Substrate Methods) and Clinical Testing Method (Polymerase Chain Reaction (PCR) Tests and Enzyme Immunoassays (EIA)); End User - Environmental Testing (Home and Drinking Water Suppliers, Bottled Water Suppliers, Waste Water Treatment Organizations, Government Agencies, Private Well Owners, Ground Water Testing, and Farm Water Testing) and Clinical Testing (Hospital, Diagnostic Laboratories, and Physician Offices)) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast, 2017 - 2025."
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The report segments the global E. coli Testing Market as:
Global E. Coli Testing Market, by Testing Methods
Global E. Coli Testing Market, by End-user
Global E. Coli Testing Market, by Geography
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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