Global Rapid Microbiology Testing Market to Reach $9.6 Billion by 2030
The global market for Rapid Microbiology Testing estimated at US$5.8 Billion in the year 2023, is expected to reach US$9.6 Billion by 2030, growing at a CAGR of 7.5% over the analysis period 2023-2030. Rapid Microbiology Testing Instruments, one of the segments analyzed in the report, is expected to record a 7.6% CAGR and reach US$4.9 Billion by the end of the analysis period. Growth in the Rapid Microbiology Testing Reagents & Kits segment is estimated at 7.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 11.6% CAGR
The Rapid Microbiology Testing market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 11.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 6.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.4 Billion by the year 2030.
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