As stated in our comprehensive report, providing insights on bacteria, technology, component, end-user, the Global Bacteriological Testing Market is valued at USD 10.85 billion in 2020.
Rise in Demand for Bacteriological Testing?
In the past few years, the consciousness of consumers regarding food selection is surging which in turn; sets the food and beverages industry to experience new structural changes. This hanging trend towards plant-based, immunity-boosting, regenerative, sustainable food and beverages is augmenting the demand for bacteriological testing. The rapid pace of urbanization in emerging economies such as India, China, and others is leading to an increase in disposable income and spending power of the population which will support the Bacteriological Testing Market growth. Moreover, the demand for bacteriological testing in the healthcare sector is increasing. Especially; in pharmaceutical industries, the demand for bacteriological testing is increasing owing to the increase in demand for products, medicines, among others.
Furthermore, the research and development sector is tirelessly working for improving the healthcare sector in a better way than ever. Thus, increasing demand for bacteriological testing in the pharmaceutical research and development sector along with stringent safety regulations is expected to drive the market over the forecast period of 2021-2028.
Where the market will head by 2028?
Our report on Bacteriological Testing Market has covered the study of the latest improvement and investments in the market. The market drivers, restraints, and opportunities have been provided for the forecast period, from 2021 to 2028. The Global Bacteriological Testing Market is valued at USD 10.85 billion in 2020 and is expected to reach USD 15.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.80%.
Some of the key players in the Bacteriological Testing Market include Agilent Technologies, Avantor Performance Materials LLC, Accepta Ltd, Bio-Rad Laboratories, bioMérieux SA, ALS Limited, Aquagenx LLC, Biotrack BV, Danaher Corporation, Eiken Chemical Co., Ltd, Bureau Veritas S. A., Eurofins Scientific, Intertek Group PLC, Merck & Co., Neogen Corporation, Romer Labs Inc., The 3M Company, HiMedia Laboratories, Thermo Fisher Scientific, Inc, SGS S.A., and TUV SUD, among others.
North America is estimated to clutch a substantial share of the Bacteriological Testing Market during the forecast period of 2021-2028. However, Asia Pacific is projected to grow at the fastest compound annual growth rate (CAGR) over the forecast period. The growth is attributed to the growing economies in Asian countries such as India, China, Thailand, Indonesia, and others.