LONDON--(BUSINESS WIRE)--According to a recent Technavio report, the microbial identification market is expected to grow by USD 792.57 million during 2019-2023. Growth in the microbial identification market can be attributed to many segments, one of which is the end-users segment comprising of healthcare industry, food and beverage industry, and others. Industry participants are focusing on analyzing maximum growth opportunities in the market by considering their prospects in the fast-growing end-users segment.
What are the Latest Trends?
Factors such as the rise in disposable income and increasing use of cosmetics across the globe are driving the preference for premium cosmetic products. However, poor manufacturing methods, presence of organic solvents, and contamination of raw materials can lead to the development of cosmetic products of poor quality. This is driving the need for microbial identification systems and solutions to eliminate the chances of contamination of these products. As per Technavio, the microbial identification market is forecast to grow at a CAGR of almost 7% by 2023.
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The cosmetics industry is gaining traction with the increasing popularity of social media channels such as Instagram and YouTube. This is because these channels create huge demand for beauty products as they are highly influential among a large group of customers.
The growing purchase of these cosmetics including skincare, haircare, deodorants, and perfumes is boosting the need for microbial identification technology to ensure the production of microbe-free, good quality products.
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Developments in the field of Microbial Identification
Several vendors in the market are coming up with new products to expand their product offerings range. For instance, Merck KGaA offers Milliflex Rapid Microbiology Detection and Enumeration System to quantitatively detect microorganisms.
Charles River is one of the several vendors operating in the microbial identification space. The company offers Axcess MALDI-TOF System, which is used for the instantaneous identification of isolated colonies from a plate.
For Further Market Information
More insights like this on the U.S. and global markets can be found in a series of reports published by Technavio entitled the Antimicrobial Susceptibility Testing Market Analysis, Size, Trends | Global | 2019-2023 & Antimicrobial Therapeutics Market Analysis, Size, Trends | Global | 2019-2023.
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