Global E.coli Water Testing Kit Market Reflecting Healthy Growth: Projected to Grow at a CAGR of 6.4% by 2027
Published | 03 November 2021
The global E.coli water testing kit market is growing at a high CAGR because of the increasing incidences of diarrhea, antibiotic resistance in the E.coli pathogens, and the growing government initiatives towards generating awareness of E.coli water testing…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global E.coli water testing kit market was worth USD 183.2 million in the year 2020. According to the study, the market is estimated to grow at a CAGR of 6.4%, earning revenue of around USD 282.2 million by the end of 2027. The global E. coli water testing kit market is growing rapidly due to an increase in diarrhea incidences, antibiotic resistance in E.coli pathogens, and the growing government initiatives to generate awareness of E.coli water testing. A growing government investment in healthcare infrastructure, an increase in research and development activities by manufacturers, and the launch of innovative products for advancing portable water testing kits are also driving the growth of the global E. coli water testing kit market. However, the high price of water testing kits may significantly impede market growth, especially in less developed regions.
Increasing Incidences of Diarrhea Is Anticipated to Drive The Global E.coli Water Testing Kit Market
Globally, diarrhea is one of the major causes of public health concerns. The number of diarrhea-related deaths among children under the age of five is estimated at around 525,000. This is the second-leading cause of death in children under five and accounts for 8 percent of all deaths. With safe drinking water and proper sanitation and hygiene, a significant proportion of deaths caused by diarrhea can be avoided. As a result, people and industries are prominently using E.coli water testing kits to check the quality of water, which is anticipated to drive the market in the forecast period.
Growing Research and Development Activities Projected to Boost the Global E.coli Water Testing Kit Market
With the increasing prevalence of diseases and other health problems caused by diarrhea, market players are focusing on research and development activities to improve the testing of these pathogens. Researchers are also striving to advance existing methods and develop alternative methods for e. coli detection in water. Additionally, biosensor-based techniques are being developed to decrease testing times. The government and private institutions are also funding these developments, which is likely to boost the global E.coli water testing kit market during the forecast period.
Global E.coli Water Testing Kit Market - By End-User
Based on end-users, the global E.coli water testing kit market is categorized into institutional, government research, commercial, food service, beverage & food processing, hospitality, healthcare, and others. The institutional segment accounts for the largest market share because of the high demand for immediate and real-time testing for water safety. Furthermore, the limited availability of laboratory facilities in emerging economies and underdeveloped countries is anticipated to offer lucrative growth opportunities to the segment in the forecast period.
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Global E.coli Water Testing Kit Market - Regional Insights
Geographically, the global E.coli water testing kit market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, Europe dominates the global E.coli water testing kit market. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. Growing water pollution levels in developing countries such as China and India are expected to fuel the E. coli testing market in the Asia-Pacific. Additionally, the region's growing population motivates manufacturers to invest in and expand in the Asia-Pacific region.
Impact of COVID-19 on Global E.coli Water Testing Kit Market
The unprecedented COVID-19 pandemic proved to be a boon for the global E.coli water testing kit market. Research and development were restricted initially to preserve resources for COVID-19 vaccine development. However, the global pandemic highlighted the potential environmental hazards of urbanization and limited access to safe drinking water, especially in developing and underdeveloped economies. During the forecast period, this is expected to drive demand for E. coli water testing kits.
Global E. coli Water Testing Kit Market - Competitive Landscape
The leading players in the global E.coli water testing kit market are Aquagenics, Lovibond, Wilhelmsen, Glacier Clean, Vermicorne, Genemis Laboratories, Idexx Laboratories, Hatch Company, EBPI, PUR Test, and other prominent players.
The market is highly fragmented, with the presence of various industry participants. A significant portion of the companies' efforts is directed toward improving technology and improving test kit results. In addition, partnerships, mergers, acquisitions, joint ventures, etc., are among the competitive strategies used in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global E.coli water testing kit market. Moreover, it highlights the factors influencing market size forecasts. The report promises to provide recent technology trends of the global E.coli water testing kit market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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