Transparency Market Research Report Added "Microbiology Culture Market" to its database.
Albany, NY -- (SBWIRE) -- 09/14/2017 -- On account of the increased funding by several governments in the field of microbiology, North America and Europe has acquired the first two positions in the global microbiology culture market. In 2014, North America topped the list with a share of 35.4%, whereas Europe closely followed with 32.0%. Analysts expect North America to remain the key regional market; however, Asia Pacific is likely to report the growth at the fastest cumulative average rate of 6.80% between 2015 and 2023.
Bacterial culture headed the global market in 2014 and is expected to continue to lead in the near future. Complex media is likely to remain the most preferred culture media over the next few years.
On the whole, the opportunity in the global market for microbial culture is likely to rise at a CAGR of 5.90% between 2015 and 2023, increasing from US$4.5 bn in 2014 to an estimated value of US$7.6 bn by the end of the forecast period.
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"The rapid rise in the demand for antibiotics has had a lasting effect on the practice of microbiology culture," states an analyst at TMR. Antibiotics are secondary metabolites produced by microorganisms and utilized in the treatment of a number of bacterial and protozoan infections. Mostly, antibiotics are naturally occurring; however, the quantity available in the natural environment is far less than the required quantity for large-scale production. Hence, microbes are cultured under controlled conditions to increase their biomass and to separate the antibiotics from them.
According to Lancet Infectious Diseases Commission, the consumption of antibiotic drugs witnessed a rise by 36% during the period from 2000 to 2010 with the BRICS nations holding a share of 76% of this increase. The high prevalence of infectious diseases, the rising healthcare expenditure, and the increasing access to antibiotic drugs have driven the consumption of antibiotics in these countries since the last decade and are likely to do so in the years to come. Owing to this, the demand for microbial culture is also expected to increase significantly over the next few years.
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On the other hand, the market may face severe challenges from the high costs associated with culture media and the continual functioning of fermentation vessel over several weeks. The difficulty in the identification of alternative nutrient sources for the growth of various microorganisms in order to meet the specific requirements and to reduce the cost of large-scale fermentation are also expected to hamper microbial culture practices to some extent in the near future.
The advent of recombinant technology, however, is anticipated to offer lucrative growth opportunities to players operating in the global market for microbiology culture over the forthcoming years.
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Although the top four players - Sigma-Aldrich, Thermo Fisher, Merck Millipore, and Becton, Dickinson and Co. - accounted for a share of 52.7% in the global market for microbiology culture in 2014, the presence of a large pool of international as well as regional players points toward a moderately fragmented structure of the market's competitive landscape, finds a report by Transparency Market Research (TMR). The degree of competition, however, is high within the market and participants are aggressively focused on making new discoveries and reaching new breakthroughs in order to gain a competitive edge.
Global Microbiology Culture Market Report is available @ US$ 5795: http://www.transparencymarketresearch.com/checkout.php?rep_id=3232
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