LONDON--(BUSINESS WIRE)--The automated microbiology market is likely to experience steady growth because of the increasing burden on microbiological laboratories and growth in the number of new product approval and launches. Rising at a CAGR of over 8%, the market is estimated to have an incremental growth of USD 744.20 million by 2024. Download Free Sample Report
A Technavio analyst says, "The spread of the COVID-19 will not have a major impact on the growth of the global automated microbiology market. However, the market outlook might change if the containment efforts go beyond Q2 2020."
Technavio’s recent analysis of the automated microbiology market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in North America, Europe, Asia, and ROW, geographically. The Asia region is expected to have a market share of 40% and will provide significant growth opportunities for market players during the forecast period.
For further information on this analysis, please visit: https://www.technavio.com/report/automated-microbiology-market-industry-analysis
The high cost of automated microbiological systems and the concerns related to installation, integration, and space availability might hamper market growth. However, the integration of AI and analytical tools into automated microbiology systems and the availability of barcode scanning features in automated microbiology systems are expected to positively influence the growth of the global automated microbiology market.
Technavio’s analysis of the automated microbiology market also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the automated microbiology market growth during the next five years
- Precise estimation of the automated microbiology market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automated microbiology market industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of automated microbiology market vendors
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