NEW YORK, Jan. 8, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05236667
The bacteriological testing market, by services, is estimated to be valued at USD 9.58 billion in 2017 and is projected to reach 13.98 billion by 2022, at a CAGR of 7.8% from 2017 to 2022. The market is driven by global increase in outbreaks of foodborne illnesses, implementation of stringent food safety regulations in developed economies, and increase in microbial contamination in water reservoirs due to rise in urban & industrial waste. Lack of food control systems, technologies, infrastructure, and resources in developing countries are the major restraints for the growth of this market.Salmonella led the market with the largest share in 2016.Salmonella testing dominated the market for bacteriological testing in 2016; it is also projected to grow at the highest CAGR during the forecast period. The cases of Salmonella infection are sometimes found to be fatal. It is the most common pathogen causing foodborne and waterborne disease outbreaks found in the US and other countries. The severity of the infection is generating demand for Salmonella testing of food and water samples, which in turn is driving the market for bacteriological testing.Consumables & reagents projected to be the fastest-growing component segment from 2017 to 2022.The bacteriological testing equipment market, by component, was dominated by the instruments segment in 2016. The dominance of instruments is attributable to the introduction of sophisticated & improved technologies, increased effectiveness of instruments, and high prices of such instruments compared to other components. The market for consumables & reagents is projected to be the fastest-growing during the forecast period. Consumables & reagents are vital components to be used to follow the set compliances of equipment. Therefore, increasing technical and regulatory complexity and their wide use in different instruments is driving this market.North America led the bacteriological testing services market with the largest share in 2016.The North American market was the largest in 2016, owing to the stringency of food safety regulations and laws pertaining to nutritional content and labeling here. It has the highest number of testing laboratories among all regions and tests the most number of bacteriological samples. The Asia Pacific market is projected to be the fastest from 2017 to 2022 and is driven by China, Australia, and Southeast Asian countries, as these countries are becoming more aware of food safety and are implementing regulations for their testing.The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:• By Company type: Tier 1: 28%, Tier 2: 33%, and Tier 3: 39%• By Designation: C-level: 49%, D-level: 21%, Others: 30%• By Region: North America: 25%, Europe: 30%, Asia Pacific: 40%, and RoW: 5%Key bacteriological testing services providing players include the following:• SGS (Switzerland)• Eurofins (Luxembourg)• Intertek (UK)• Bureau Veritas (France)• TÜV SÜD (Germany)• ALS Limited (Australia)Key bacteriological testing equipment providing players include the following:• 3M (US)• Thermo Fisher (US)• Merck (Germany)• Agilent (US)• Bio-Rad (US)• Romer Labs (Austria)The key players in the bacteriological testing market adopted acquisition as their key growth strategy to increase their market share and profits. Expansions & investments accounted for the second-highest percentage of the total developments, followed by acquisitions.Research CoverageThe report analyzes the bacteriological testing market across different types of bacteria and regions. It aims at estimating the market size and future growth potential of this market across different segments such as bacteria, end-use industry, technology, component, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in both services and equipment market, along with their company profiles, recent developments, and key market strategies.Key Benefits of Buying the Report:The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall bacteriological testing market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report will also help the stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.Read the full report: https://www.reportlinker.com/p05236667
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