The increasing preference for automation has resulted in strong growth of the global industrial microbiology market. The market is expected to gain considerable impetus from the rising emphasis on industrial food and safety. In a report, titled “Industrial Microbiology Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2016 – 2024,” Transparency Market Research (TMR), presents a holistic study on the various factors influencing the market’s trajectory.
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According to TMR, the increasing demand for consumer products, as an inevitable outcome of global population rise, will support the growth of the industrial microbiology market. With national and international organizations rooting for stringent safety regulations, the demand for industrial microbiology is expected to rise considerably in the near future.
Industrial microbiology is concerned with screening and management of microorganisms used in the manufacturing of various products. Accurate and timely investigation of pathogens is thus pivotal in shielding the brand image and reduce industry costs. The rising product recalls over the last few years and associated concerns have been fuelling the demand for adequate screening processes, thereby boosting prospects for the industrial microbiology market. Moreover, microorganisms are crucial for the fermentation of wine, beer, and cheese. Proper screening of microorganisms is thus deemed essential, boosting the demand for industrial microbiology solutions in response.
For enterprises operating in the global industrial microbiology market, compliance to stringent regulations is mandatory. This, combined with the lack of skilled professionals and high cost incurred on the process, is inhibiting the market’s trajectory. Nevertheless, the use of industrial microorganisms is likely to increase in bioremediation process, the production of syrup formulation, manufacturing empty capsules, and preparing genetically modified food products. This will in turn fuel opportunities for the key players to capitalize on in the near future.
North America dominated the global industrial microbiology market in 2015. The U.S. is poised to exhibit lucrative opportunities for industrial microbiology solution providers in the region. The favorable reimbursement policies and increasing spending on drug research and development are the key factors responsible for the growth of this regional market.
Based on application, the global industrial microbiology market is classified into pharmaceuticals, cosmetics, agriculture, and the food and beverage industry. Of these, the pharmaceutical sector is expected to emerge as the key revenue contributor to the market in the forthcoming years. The increasing participation of pharmaceutical companies in the research and development of novel drugs is a primary factor fuelling the demand for industrial microbiology in this segment.
The global industrial microbiology market has been thus exhibiting lucrative prospects. In order to gain competitive advantage, companies such as Bio-Rad Laboratories, Inc., 3M, Merck KGaA, Thermo Fisher Scientific Inc., Danaher Corporation, Asiagel Corporation, Becton, Dickinson and Company, and Sartorius AG are looking to capitalize on the prevailing opportunities.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.