Global Food Diagnostics Market is expected to grow at a CAGR of 8.1% during the forecast period from 2019-2025
Global Food Diagnostics Market 2019, Global Food Diagnostics Market Growth, Global Food Diagnostics Market Trends and Analysis,
Global Food Diagnostics Market by Type(Diagnostics Systems,Diagnostics Consumables), Type of Test (Safety, Quality), Food Tested (Meat, Poultry, & Seafood,Others), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025
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Leading companies in the industry include Beckman Coulter Inc., Randox Laboratories Ltd., Biocontrol Systems Inc., E. I. Du Pont De Nemours and Company, Thermofisher Scientific Inc.among otherswhichare offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in December 2018, SCIEX in collaboration with NofaLab announced the development of the first non-derivatized method using LC-MS/MS for quick and simple detection and quantitation of glyphosate and other polar pesticides in food, feed, and water commodities.
The type segment is classified into diagnostics systems and diagnostics consumables. The diagnostics systems segment estimated to lead the food diagnostics market and valued around USD 6.59 Billion in 2017.Under the diagnostic systems segment, PCR and microarray systems are gaining importance as powerful tools for food analysis as they provide high analytical precision, user-friendly procedures, and accurate output in food diagnosis. Type of test segment is divided into segments such as safety and quality. The type of test segment is dominating the market with the share of 59.90% in 2017. Growing awareness about food safety in emerging markets have led to the development of food diagnostics systems. They identify food impurities and contamination that occur during manufacturing, processing, and packaging stages. Food tested segment includes meat, poultry, & seafood products, dairy products, processed foods, cereals & grains, fruits & vegetables and others. The meat, poultry, & seafood products segment is dominating the market and valued around USD 3.12 Billion in 2017. The contamination of meat & poultry products is often observed during processing, packaging and storing. The Food Safety and Inspection Service (FSIS) has framed regulations to stop the contamination of meat & poultry products in slaughterhouses and processing plants, based on the HACCP food safety control system.
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Rising number of foodborne illnesses is an important factor affecting the growth of the market. Also, increased implementation of new and improved technology of PCR, chromatography and immunoassay and stringent policies of government on foodborne diseases preventionare also fuelling the growth of market.But modifications in sample collection and preparation standardizationmay hamper the growth of market. However, increased government expenditure and spending on food safetydrives the industry growth in coming years.
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