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Rapid Test Market by Technology, Contaminant, Food Tested And Region - Global Forecast to 2022

Rapid Test Market: Global Forecast until 2022

  • September 2017
  • 227 pages
  • ID: 5135701
In this report:
Merieux NutriSciences announced ##% acquisition of ACM Agro (France), a private company providing microbiological analytical services for the agro-food industry.
ALS LIMITED Arabia entered into a partnership with Biyaq Laboratories LLC (Oman) to reinforce the business in the Arabian region by offering an extensive rage of chemical testing, mineral testing, environmental testing, and food safety testing as major services.
Eurofins acquired a ##% majority stake in GCL/Fundación Chile (GCL), a leading food testing service provider in Chile.

Summary

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"Rapid test market forecasted to grow at a CAGR (Compound annual growth rate) of 7.70 percent"

The quick test market is estimated to grow ~$15.7B by 2022, at a compound annual growth rate of 7.70 percent from 2017. The sector is influenced by Elements such as the establishment of stringent regulations in the food market by developed as well as emerging countries due to growing food product recalls and cases of bloodborne illness & hospitalizations caused by contaminated food. The increase in the industry is also attributed to the technological advancements due to increased R&D investments by firms.

Elements such as complexity in testing technologies and the lack of standardization in regulations across several areas are selecting the market increase.

"Meat speciation segment is expected to be quickest increasing between 2017 and 2022"

The meat speciation segment is expected to rise at the highest CAGR (Compound annual growth rate) among the all contaminants for fast test market between 2017 and 2022. Rising incidences of meat adulterations in higher value meat products in fueling increase of the market. Consumers must be correctly informed about the materials used in the product through the labeling act before they make any purchase decision. As the inclusion of meat is growing in modern food, a convenient method of verifying the labeling of commercial food products is important to ensure food safety and gain consumers' trust.

"PCR-based technology segment led the sector with the biggest share in 2016"

PCR is DNA-based molecular technology. The technology amplifies fragments of DNA extracted from the food product samples to accurately identify the DNA of each species in the product, resulting in enabled cross-checking of the product's quality and confirmation of the claims that the product makes. PCR technology offers assurance of reliability, quality, and faster test results, which in turn drives its market.

"Meat & seafood products testing controled the industry in 2016"

Meat & seafood products contain products from fish, crustaceans, mollusks, crabs, beef, chicken, mutton, and pork. There are certain processed meat and seafood products including ham and sausages that are genetically modified during the production process. The quick test technology largely used for meat identification is the detection of species-specific proteins or DNA study.

"China (CN) helped to the biggest market share in the Asia Pacific area in 2016"

The North American area controled the fast test market in 2016. The sector for quick test in North America (NA) is influenced by the rise in the US market, as it is a important producer, importer, and exporter of various types of meat, food products, and producer of different crops.

The USA has been implementing several regulations to certify and assure the quality and safety of food from biological and chemical threats.

The Asia Pacific area is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period. The increase of fast testing in the Asia Pacific area is influenced by the rising export activities, which need faster test results and stringency of rules & regulations enforced by distinct countries and areas.

Food security standards are getting stringent year-on-year to ensure safer supply of food to individuals in local and foreign countries. Since countries including China (CN), India (IN), and Australia (AU) are big exporters of food products to developed countries of North America continent & Europe (EU), which are cautious about the quality and labeling of products imported from the Asia Pacific area, the governments of these exporting countries have enforced different regulations in place for consumers, producers, and regulators.

The figure below shows the breakdown of the primaries on the basis of the company, description, and area, conducted during the business research study.

- By Company Type: Tier 1 - 38.0 percent, Tier 2 - 42.0 percent, and 1/3 3 - 20.0 percent

- By Description: C-suite - 45.0 percent, and D-suite - 55.0 percent

- By area: Europe - 70.0 percent, Asia Pacific - 15.0 percent, North america (NA) - 10.0 percent, RoW - 5.0 percent

Main players including SGS, Bureau Veritas, Intertek, Eurofins, TUV SUD, and Merieux NutriSciences collectively accounted for a majority of the overall quick test market. Other actors in the industry contain ALS Limited, Microbac Laboratories, AsureQuality, Romer Labs, and OMIC USA.

Segment Research

The analysis highlights on fast test services for various materials and territories. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments-contaminants, technology, food tested, and area. Moreover, the market research includes a detailed competitive analysis of the top players in the sector together with their company descriptions, competitive leadership mapping, recent evolutions, and key industries strategies.

Why acquiring this study can help you:

• To get a comprehensive overview of the overall quick test market

• To benefit wide-ranging information about the top actors in this market, their service portfolios, and top strategies approved by them

• To benefit insights of the main countries/localities in which the fast test market is prospering

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