Reports And Data

Food Diagnostics Market Trends – Outsourcing of Diagnostic Industry are key factors contributing to high CAGR of Diagnostics industry during forecast period.

NEW YORK CITY, NEW YORK, UNITED STATES, May 23, 2023 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global Food Diagnostics market was valued at USD 11.76 Billion in 2018 and is expected to reach USD 20.75 Billion by year 2026, at a CAGR of 7.35%. The rising contaminants cases, increasing instances of mislabeling, growing food borne diseases and mounting consciousness among the consumers about the food safety are the key factors driving the demand for diagnostic testing market. Contaminants and chemicals which enters during manufacturing process are considered to be the significant cause for food poisoning which may increase the necessity of testing and diagnostics during the forecasted period. Meat, poultry, & sea-food are expected to dominate the safety testing market for eatables. Additionally, escalating demand for pesticides residue & other contaminants testing will enhance the industry progress over the forecasted time frame.

The Diagnostics refers to the procedure of verification of eatables in order to check safety and to decrease the risk of contamination causing illness. The testing involves validation of product as indicated on the labels. The safety testing techniques such as microbial contamination and analysis on chemical will provide safer production, processing and delivering the product to the consumer. This diagnostics helps the companies in regulating allergenic components and pathogenic bacteria in eatables.

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Major players includes 3M, Merk Kgaa, Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Biomrieux S

Further key findings from the report suggest

Global food diagnostics market from pathogens generated over USD 6.05 billion revenue in 2018. Pathogens can be found in multiple categories such as meat, dairy, processed items, and fruits & vegetables.
Meat, poultry, & sea-foods dominates the global diagnostic industry and is anticipated to reach around USD 7.06 billion in 2026.
Asia Pacific region is expected to show the fastest market growth of CAGR 8.0% from 2018 to 2026. The region presents immense scope for market development, owing to the increasing urban population size, and favorable investments by the government, among others.
In November, 2016 3M launched 3MTM Molecular Detection Assay 2-Cronobacter to enhance its molecular detection system pathogen testing platform displaying the collaborative efforts of key players to enhance the diagnostics industry.
The key players have ramped up their mergers & acquisition strategy over the recent years, in order to generate public awareness about their existing and new products and also in technologies. For instance, In November 2017, Eurofins Scientific acquired Spectro Analytical Labs Ltd. ("Spectro) to expand their testing services in India.
Diagnostics market from genetically modified organisms (GMOs) is projected to witness around 7.5% CAGR from 2018 to 2026. Changing government regulations on GMO labeling may augment the industry growth in upcoming years.
Rapid inspection technology is projected to witness over 7.5% CAGR up to 2026. Immunoassay and PCR techniques hold a significant share of rapid technologies.

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Type (Revenue, USD Million; 2018–2026)

Systems
Consumables

Diagnostics System (Revenue, USD Million; 2018–2026)

Hybridization Based
Chromatography Based
Spectrometry Based
Immunoassay Based
Biosensors
Testing Kits
Others

Food Tested (Revenue, USD Million; 2018–2026)

Meat, Poultry and Sea-food Products
Processed Food
Fruits and Vegetables
Dairy Products
Cereals and Grains

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Regional Outlook

For comprehensive understanding of market dynamics, the global Food Diagnostics Market is analysed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Food Diagnostics Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Food Diagnostics Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Food Diagnostics Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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