WELLESLEY, MA--(Marketwired - September 28, 2016) - Growth in environmental microbiology is moving the global market for microbiology technology, equipment, and consumables. BCC Research reveals in its new report that new technologies are facilitating simpler methods of handling samples, while the potential for biosensors is making this field less labor- and time-consuming, which is encouraging the expansion of microbiology technology applications for environmental monitoring.
The global market for microbiology technology, equipment and consumables market, which reached $9.8 billion revenue in 2015, should total nearly $12.3 billion by 2020, reflecting a five-year compound annual growth rate (CAGR) of 4.6%. Automation and technology as a segment reached nearly $3.7 billion in 2015, and should reach more than $4.9 billion in 2020, increasing at a five-year CAGR of 6.1%. Equipment as a segment totaled $3.6 billion in 2015, and should total more than $4.1 billion in 2020, demonstrating a five-year CAGR of 2.8%.
New technology -- and newer uses of older technologies such as PCR -- is driving the growth of the clinical diagnostic segment. PCR is scaling down to be simpler to use, even to the development of point-of-care diagnostics. Automation in clinical diagnostics has led to falling costs for clinical microbiology, which in turn has reduced cost pressures -- particularly cost-per-test -- among health care providers.
Lower crude oil prices have limited the outlook for biofuel. However, government policy demands for renewable fuel have put a floor in the market, and many biofuel producers are pivoting towards petrochemicals traditionally produced as byproducts of the refinery process. Investments towards these technologies will continue to make biofuels a viable market for future investment. Technologies in this field will also continue to benefit the industrial microbiology market as they get spun off from biofuels.
Increased concerns about food safety are pushing the development and adoption of new technologies in food microbiology. Issues with the difficulty of processing food specimens are encouraging developments within the field. From new sample processing techniques and novel molecular technologies to increased use of biosensors, food microbiology is becoming a much more technically sophisticated field.
Environmental monitoring has developed into a major business, with companies consulting for industrial concerns such as industry, public works, utilities and real estate.
"Environmental microbiology has become a part of the skill set of these firms, allowing them to effectively deploy their skills to meet their clients' needs," says BCC Research analyst Todd Graham. "For example, bioremediation, or using bacteria to remove toxic chemical contamination from soil and water, has become a major environmental microbiology application. With applications in such well-known cases like the Deepwater Horizon oil spill in the Gulf of Mexico, this technique will be a part of environmentalists' toolkits for a long time to come."
Global Markets for Microbiology Technology, Equipment and Consumables (BIO130B) analyzes the current state, setbacks, innovations, and the future needs of the market. The report also examines the impact of this market on other industries such as food safety, environmental, and pharmaceutical industries. Global market drivers and trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020 also are provided.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. Founded in 1971, BCC Research is a unit of Eli Global, LLC. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.