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Rapid Test Market Size, Industry Analysis Report, Regional Outlook-2024

12-18-2017 11:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: GMI

/ PR Agency: GMI
Rapid Test Market Size, Industry Analysis Report, Regional

Rapid Test Market size is expected to witness a surge in demand owing to factors including increasing need for rapid test results to improve yield, rise in product recalls due to strict protocols, globalization of food trade and up surging incidences of foodborne illness. Increasing consumer consciousness regarding food safety and rising involvement of several government & non-government bodies to provide safe food products to consumers will offer new opportunities to rapid test market players.

Rapid test consists of examination of food products for identification of numerous contaminants. Some of the contaminants includes heavy metals, mycotoxins, pesticides, allergens, GMOs, meat speciation and pathogens. Increasing demand for faster and quantitative assessment results to confirm food safety is propelling rapid test market development. Several industry players are responding to these new opportunities by improving their service offerings and expanding their global presence.

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In April 2017, the campaign, #Live2LUV facilitated in endorsing education on sexual wellness that included HIV in young population of several South-East Asian countries. Organizations including UNAIDS along with Youth Lead, Youth Voices Count, UNICEF and UNFPA launched a four days campaign to educate masses on examination procedures. Additionally, ASEAN Youth Summit in the Philippines launched several public awareness programs and thus propelling the rapid test market expansion.

Increasing demand for decentralized assessments is a crucial factor boosting the industry growth. Initial diagnosis of diseases along with accuracy plays a substantial role in the treatment of patients. Initial diagnosis of diseases along with accuracy plays a substantial role in the treatment of patients. Thus, the adoption of quick diagnostic kits is gaining recognition due to its accuracy and inexpensive examinations for diseases including syphilis, HIV and tuberculosis.

In several developing and under-developed countries, pathogens are foremost reasons of foodborne deaths and illnesses, whereas in various emerged economies, millions of cases of infectious digestive sicknesses are reported each year owing to foodborne pathogens. This leads to costing billions of dollars in medical care and lost yield. Conventional approaches, that have been broadly used in pathogen assessment of food, are very time consuming, taking as high as 7 to 8 days to deliver the results. Thus, the segment led the overall rapid test market share in 2016.

Meat speciation segment is anticipated to grow at the highest rate amongst all contaminants in the rapid test market over the forecast timeframe. Rising incidences of meat adulterations in complex value meat products in driving rapid test market growth. Consumers must be appropriately informed regarding the ingredients used in the product through proper labeling before they make any purchase decision. Increasing meat inclusion in modern food industry is driving the emergence of convenient technologies to verify labeling of commercial food products. Thus, ensuring food safety and gaining consumers' trust.

PCR is a specialized DNA based molecular technology. The technology augments DNA fragments extracted from the food samples to precisely classify the DNA of each species in the product. This results in enabling cross examination of the product's quality and validation of the specifications that the product proclaims. PCR technology offers assurance of quality, reliability and quicker examination results, in turn driving the rapid test market size.

Meat & seafood products comprise of pork, mutton, chicken, beef, crabs, mollusks, crustaceans and fish. There are some processed meat and seafood products including sausages and ham that are genetically modified throughout the manufacturing process. The technology mostly utilized for meat identification is PCR based, particularly for the detection of species-specific proteins or DNA analysis.

North America dominated the rapid test market in 2016 due to the large presence of product manufacturers, importers and exporters in the region. High productivity of meat, food products and of numerous crops in the region will support product penetration. U.S. has been implementing several regulations to certify and assure high quality and safety of food from biological and chemical threats.

Global rapid test market is characterized by a wide range of product offerings to fulfil the requirements of the industry. Several industry players have adopted cell-based assays, immunoassay, clinical chemistry and nucleic acid-based techniques for diverse clinical applications. They are also concentrating on product enhancement and marketing strategies to boost their industry foothold.

Some of the rapid test market players include SGS, Romer Labs, TUV SUD, OMIC USA, ALS Limited, Eurofins, Intertek, Bureau Veritas, Merieux NutriSciences, Genetic ID, Meridian Bioscience, Microbac Laboratories and AsureQualit.

Other prominent rapid test market players are Romer Labs, bioMérieux, Alere, Abbott Diagnostics, Princeton BioMeditech Corporation, SA Scientific, Sekisui Diagnostics, Thermo Fisher Scientific, Siemens Healthcare, Beckman Coulter and Roche Diagnostics.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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