E. Coli Testing Market: Number of Antibiotic-Resistant E. coli Opens up Lucrative Growth Avenues across Regions, observes TMR
Albany, NY -- (SBWIRE) -- 03/21/2018 -- The E. coli testing market is fairly competitive with the top six players accounting for a combined share of approximately 57.0% in 2016, finds Transparency Market Research (TMR). These companies are Meridian Bioscience, Inc., Alere, Inc, IDEXX Laboratories, Inc., Becton, Dickson and Company, bioMérieux, Inc., and Thermo Fisher Scientific, Inc. Among these, currently, Thermo Fisher Scientific and bioMérieux have emerged as the dominant player. The vendor landscape is characterized by a high degree of fragmentation with the presence of several large players and a number of regional players. The leading companies focus on developing novel testing methods and launching innovative technologies in order to consolidate their shares in the market, notes TMR.
Several prominent companies are actively capitalizing on emerging opportunities in various geographic regions to gain a competitive edge over others. These players are also acquiring regional players to strengthen their geographic presence, which also helps them gain a sustained share in the E. coli testing market.
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The global E. coli testing market was valued at US$1.18 bn in 2016 and is projected to rise at a CAGR of 8.0% from 2017 to 2025. Expanding at this pace, the opportunities in the market is anticipated to reach US$2.36 bn by the end of the forecast period.
Substantial Uptake of Advanced Testing Methods Keep North America Dominant
Based on testing method, the global E. coli testing market is broadly segmented into environmental testing method and clinical testing method. The former is further segmented into membrane filtration, multiple tube fermentation, and enzyme substrate methods, while the latter is further segmented into polymerase chain reaction, tests and enzyme immunoassays. Of all environmental testing methods, the enzyme substrate method segment occupied the major share in the market in 2016 and is anticipated to remain dominant throughout the forecast period.
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The major regional markets for E. coli testing are Europe, North America, Asia Pacific, the Middle East and Africa (MEA), and Latin America. Of these, North America occupied the major share of 44.5% in the global market. The regional market is anticipated to retain its dominance throughout the forecast period, primarily driven by a large number of early adopters of E. coli testing methods and advanced technologies.
Government Initiatives to Prevent Food and Water-Borne Diseases Accentuate Market
The growing incidence of hospital- and community- acquired urinary tract infections caused by E. coli and related morbidity of the infections in various populations are the key factors driving the market. World over, the rising prevalence of antimicrobial resistance among E. coli is a growing concern, paving the way for abundant growth opportunities in the market in the coming years. In recent years, the growing instances of antibiotic susceptibility of E. coli against commonly prescribed antibiotics, such as penicillin and amoxicillin, has offered a shot in the arm for the vendors in the E. coli testing market. The growing prevalence of various water and food-borne diseases, such as diarrhea and hemolytic uremic syndrome, in various nations, particularly in underdeveloped and low-income nations, has led to the demand for E. coli testing methods, catalyzing the market.
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Governments and regulatory agencies in numerous countries in developed regions, such as various parts of North America and Europe, are increasingly adopting preventive measures to prevent any epidemic caused due to growing number of drug-resistant E. coli. This has accentuated the growth of the E. coli market. For instance, Environment Protection Agencies (EPA) has laid down guidelines for water bodies infected by the bacteria exceeding the levels fixed by bacteriological standards. This has positively affected the growth of the market.
World over, initiatives by non-governmental organizations to contain the morbidity of water- and food-borne diseases caused by E. coli has also catalyzed the market growth. However, enzyme-substrate test, a key testing method is fairly expensive. This is a crucial factor likely to inhibit the market in several underdeveloped and low-income nations. Nevertheless, the advent of high-throughput and novel diagnostic methods and exemplary efforts by governments in these nations are recent developments expected to create exciting opportunities for market players.
About Transparency Market Research
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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