Agricultural and Environmental Diagnostics Market to Reach $7.9 billion with 15.5% CAGR Forecast to 2022
key players - 3M Company, BioControl Systems, Evans Analytical Group LLC, Intertek Group plc., IDEXX Laboratories, Life Technologies Corporation
PUNE, MAHARASHTRA, INDIA, November 18, 2016 /EINPresswire.com/ -- Agricultural and Environmental Diagnostics IndustryDescription
The Global Agricultural and Environmental Diagnostics market is valued at $2.5 billion in 2014 and is expected to reach a value of $7.9 billion by 2022 at a CAGR of 15.5%. The factors that are driving the market growth include globalization of food supply, increasing investments in R&D for new product development, advancements in microbial testing, growing consumer awareness and stringent food safety regulations. Rising concerns over food and water safety globally continue to increase the need for testing contaminants, thereby generating strong demand for agricultural and environmental diagnostics.
Pathogens such as Escherichia coli, salmonella, listeria, and several others are linked to several food borne illnesses affecting millions of individuals across the globe. Testing of food products is gaining significance, owing to growing demand for specialist diets in developed markets, and an increasing demand for cheaper, convenience food. The food diagnostics market faces deficit in terms of availability of test kits that can detect all types of allergens. Among the major test kits, DNA tests and ELISA represent the major portion of test kits that can identify majority of the allergens.
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Global Agricultural and Environmental Diagnostics market is segmented by technology, by product and by geography. Based on technology, market is categorized into microbiology, mycotoxin and pesticide residue. Based on product, market is classified into food microbiological, pathogen, food residue, antibiotic and environmental residue. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Emerging markets are expected to fuel future growth relying on agricultural commodity exports. Europe represents the largest market worldwide whereas, U.S. represents the second largest region globally. Asia-Pacific is expected to be the fastest growing regional market with a CAGR of more than 18% over the forecast period.
The key players in the Agricultural and Environmental Diagnostics market include
3M Company, BioControl Systems, Evans Analytical Group LLC, Intertek Group plc., IDEXX Laboratories, Life Technologies Corporation, Neogen Corporation, PerkinElmer, Inc., R-Biopharm AG and Romer Labs Diagnostic GmbH.
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