Even-though urbanization and industrialization have led to the social and economic transformation of human society, there are some festering consequences that have emerged as the global concerns in the recent past years. The microbial contamination of water as a result of the discharge of urban sewage and industrial waste into water reservoirs is the primary negative environmental externality of the rapid industrialization and urbanization. Intake of contaminated water causes many illnesses including diarrhea, cholera, typhoid, and dysentery. Now, 3.4 million people die annually across the world as a result of waterborne diseases. The aforementioned festering figures have created high emphasis on the prevention of pathogenic infections among consumers across the world. This, in turn, has instigated the water industry to deploy water testing technologies such as bacteriological testing, in order to monitor microbial contamination before consumption. Bacteriological testing services are predominantly used for coliform testing, salmonella testing, legionella testing, and listeria testing applications. Therefore, in order to provide hygienic and pathogen-free potable water to the consumers, the authorities involved in the drinking water supply chain are increasingly adopting bacteriological testing instruments and kits. Thus, the rising instances of microbial water contamination coupled with the growing prevalence of waterborne illnesses is considered to the prime factor fostering the growth of the bacteriological testing market size. Moreover, owing to the increasing demand for bottled water, especially in developed countries, the packaged mineral water producers are increasingly demanding for bacteriological testing technologies to provide pure water to the consumers. For instance, bottled water volume in the USA was increased from 12.8 billion gallons in 2016 to 13.7 billion gallons in 2017, an increase of 7%. Therefore, the growing demand for pure and hygienic bottled water is another factor augmenting the growth of the bacteriological testing market size.
The Bacteriological Testing Market was valued at 10 billion in 2018. Furthermore, the demand for bacteriological testing instruments and kits is anticipated to propel at a CAGR of 8.2% during the forecast period 2019-2025.
Booming Pharmaceutical Industry Bolstering Bacteriological Testing Market
Rising demand for bacteriological testing technologies in the pharmaceutical sector for introducing pathogen-free and cost-effective end products is projected to contribute to the growth of the bacteriological testing market. The expanding demand for pharmaceutical drugs across the world is creating safety concerns related to pharmaceutical manufacturing and raw material sourcing. The import value of pharmaceutical products reached $617 billion in 2018, with an annual growth rate of 11% between 2017 and 2018. Therefore, the companies involved in the manufacturing of drugs are governed by stringent regulations to prevent bacterial contamination and to ensure the development of safer drugs for disease treatment. Thus, the booming pharmaceutical industries are creating perpetual demand for bacteriological testing technologies to meet the safety guidelines imposed by government bodies.
Food Safety Concerns Creating Demand Influx for Bacteriological Testing Market
On the basis of the end-use industry, the food and beverage segment is considered to rise at a highest growth rate during the forecast period. The dominance of this segment is attributed to growing safety concerns regarding food and beverages. The requisite to provide safe and quality food products to the consumers has made the bacteriological testing technology an inevitable part of the preliminary analysis by government bodies, which has created a strong demand for bacteriological testing across the food supply chain. The increasing global food consumption has created both opportunities and challenges for food safety across the world. The consumption of unhygienic and unsafe food products has led to the incidence of foodborne diseases. Around 600 million people suffer from illnesses resulting from the consumption of contaminated food and 420, 000 die every year. Therefore, in order to ensure the safety of the consumers, the regulatory bodies such as European Food Safety Authority (EFSA), Food Safety Commission of Japan, Food Standards Australia New Zealand (FSANZ), Food and Drug Administration (FDA), Canadian Food Inspection Agency, and Agri-Food & Veterinary Authority of Singapore (AVA) (Singapore), have levied stringent regulations on food products. Owing to these regulations, manufacturers of food and beverage products are increasingly demanding for bacteriological testing technologies. Moreover, the rising demand for packaged and processed food products is also creating lucrative opportunities for the bacteriological testing market. For instance, the food processing market in India is estimated to grow from $322 billion to $543 billion during 2018 – 2020. The food processing industries striving to increase the shelf-life of the products by using various testing methods such as bacteriological testing during the production process. This is further propelling the growth of the bacteriological testing market. Therefore, the food and beverage segment is anticipated to prosper at a CAGR of 7.2% through to 2025.
North America Emerges as Lucrative Bacteriological Testing Marketplace
Geographically, North America is projected to provide promising prospects for the growth of the global bacteriological testing market during the forecast period and was responsible for generating 28% of the total revenues incurred in 2018. The growth of the regional market is attributed to the stringency of the safety regulations concerning the health and hygiene of the people. The rising incidences related to the bacterial infections has created burden on the regional economy by impacting the health of the people. Now, annually in the US, 6,939 deaths and 477,000 emergency department visits are estimated due to waterborne diseases. Moreover, 48 million people suffer from illnesses due to foodborne diseases, 128,000 are hospitalized, and 3000 die every year. Thus, the growing burden of the bacterial infections has instigated the authorities such as the Food and Drug Administration (FDA) and United States Department of Agriculture (USDA) to implement laws and guidelines to impede the prevalence of bacterial infections. This, in turn, has created unprecedented demand for bacteriological testing technologies in the region. Moreover, the technological advancements in the developed economies such as the USA, Canada, and Mexico has led to the transition from traditional bacteriological testing technology to rapid bacteriological testing technology. The rapid technology provides various benefits such as high precision, low turnaround time, sensitivity, and ability to test wide spectrum of bacteria. This is further strengthened the growth of the bacteriological testing market in North America.
Bacteriological Testing Market Companies’ Strategies
Key companies that are striving to stay ahead of their competitors by securing the majority of the global bacteriological testing market share are SGS S.A., Bureau Veritas Group, Intertek Group plc, Eurofins Scientific, TÜV SÜD, ALS Limited, Romer Labs, EMSL Analytical, Inc., Bio-Rad Laboratories, Inc., and Rakiro Biotech Systems Pvt., Ltd. These companies are continuously involved in adopting business strategies such as acquisitions, mergers, partnerships, collaborations, and expansions to expand their presence to the global market. Moreover, they are investing heavily in R&D activities to develop innovative and advanced testing technologies within affordable process.
In July 2019, SGS has announced the acquisition of DMW Environmental Safety Ltd., United Kingdom. The acquisition is intended to augment the company’s growth in environment, health & safety services and moreover to fortify its market presence in the United Kingdom.
In April 2018, Intertek Group plc, has announced its decision to acquire Proasem, a Colombian laboratory testing and inspection company. The acquisition is intended to strengthen the position of Intertek as a quality assurance solutions provider in Latin America.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
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