Food Consumables market is expected to reach $5 billion by 2023 at a CAGR of 8.9%
HYDERABAD, TELANGANA, INDIA, August 21, 2018 /EINPresswire.com/ — According to the new market research report by IndustryARC titled “Food Diagnostic Equipment and Consumables Market: By Form (Handheld, Automatic, Portable, Others), By Equipment Type (Chromatographs, Spectrometers, PCR, Others); By Consumable Type (Test Kit, Reagents, Labware); By Application (Microbiology, Chemistry, GMO, Others); By End users (Food testing Laboratories, Food plant Labs (In-house facilities), Research and Academic Labs) & By Geography – Forecast (2018-2023)”, the market is- driven by the rising global trade and consumer awareness on labeling to mandate effective food testing.
Americas held the largest market share in the Food Diagnostic Equipment and Consumables Market:
Americas region holds the largest market share in Food Diagnostic Equipment Market, and is anticipated to grow at a CAGR of 4.5% to reach $1.37 billion. Ironically, the same Americas region accounts for the largest market share in Food Consumables Market, and is estimated to grow at a CAGR of 7.60% to reach $1.67 billion by 2023. However, APAC region registers highest growth rate for both Food Diagnostic Equipment Market and Consumables Market, and is anticipated to touch $1.36 billion at a CAGR of 8.0% and $1.39 billion at a CAGR of 11.1% during the forecast period. Americas Food Diagnostic Equipment and Consumables Markets are driven by rising food borne illness cases annually, free global trade activity, and consumer awareness.
Selected Pricing Analysis done in the full report:
The Food diagnostic equipment has been segmented into eight product segments, namely: Chromatography Systems, Mass Spectrometry Systems, Hybrid Systems, PCR Equipment, ELISA Equipment, Flow Cytometry Systems, NMR Systems and Others (Data Systems, Auto samplers, and so on). The data systems and auto samplers are integrated with the rest of the medical diagnostic equipment, and are also bought separately to operate. The pricing of all the equipment are entirely different as the size, configuration, operations, life-time of these equipment are diverse.
The demand for food diagnostic equipment market continues to grow with the increasing food testing service providers. In the coming years, there will be huge scope for rapid and hybrid systems such as PCR, ELISA. These systems have improvised the testing procedure, facilitating faster results. Hence, the classic methods such as chromatography and mass spectrometry, which are being replaced by these rapid systems, will experience a slight decline in the pricing. The hybrid systems, flow cytometry systems will continue to gain demand as there is vast scope for the growth of sophisticated laboratories with expertise in multiple areas of food testing. These systems are used in various analyses, and are expensive compared to other equipment. It is projected that the increase in the number of food equipment manufacturers coupled with advancements in technology will bring the prices down.
The NMR equipment is only used by the multinational laboratories as the cost of manufacturing set up is huge. There are only a few suppliers in the market who manufacture NMR spectrometers and thus, have the pricing advantage. The price of this equipment is the highest of all, and is estimated to grow with the increasing demand from the food testing service providers.
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Excerpts on Market Growth Factors:
The key factors that drive the growth for Food Diagnostic Equipment and Consumables Market are the rising contamination instances which is set to increase food testing demand.
The increasing demand for rapid methods are likely to propel Diagnostic equipment and consumables market.
PCR equipment is the dominant device type, and is anticipated to exhibit the market size of $1.30 million at a CAGR of 7.40% by 2023 due to increasing installations.
Food microbiology is the most dominant application in food diagnostics, and is estimated to reach $1.58 billion at a CAGR of 7.2% by 2023.
Reagents are the dominant consumable types, and is expected to reach $2.36 billion by 2023 at a CAGR of 8.5%.
Immunoassay and Hybrid systems are also poised to exhibit faster growth as these are rapid analytical systems that hold huge potential for growth.
Agilent Technologies Inc. also introduced a rapid pathogen detection system, namely: AriaMx system. This system provides easily exchangeable optics cartridges for genotyping for PCR equipment facilitating quicker results. Similarly, the Hybrid systems, Immunoassay systems are also being employed with rapid methods.
By 2020, 1,69,635 units of PCR equipment are estimated to be shipped globally, while that of Immunoassay systems are estimated to reach 1,77,844 units at 5.2% and 4.7% CAGR, respectively.
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Key players of Wireline Services Market:
The top five suppliers in the market are Agilent Technologies Inc., Thermo Fisher Inc., Shimadzu Corporation, PerkinElmer Inc., and Bruker Corporation. Others include manufacturers such as Bio-Rad Laboratories, AB SCIEX, Neogen Corporation, and Waters Corporation. Agilent Technologies Inc., Thermo Fisher Inc., Shimadzu Corporation, PerkinElmer Inc., and Bruker Corporation together constituted 52.6% of the market share
The global food diagnostic equipment market is fragmented. However, the top five players constitute significant share owing to the wide distribution network, brand reputation and positioning of the product. Other major players such as Waters Corporation, AB SCIEX, and others have considerable share in the market.
Agilent Technologies Inc. and Thermo Fisher Inc. accounted for considerable share in the market, owing to their strong focus on food safety segment. They are striving to increase their market share by launching new products.
Thermo Fisher Inc. had made collaborations and acquisitions, apart from launching six products to increase its revenues from the food safety segment. Agilent Technologies Inc. launched five products, out of which four were hybrid systems. The company launched 6400 LC/MS system, Q-TOF GC/MS System, 5977A Series GC/MSD, and GC-MS system which are used for varied applications of food testing. There are many small and medium equipment and consumable manufacturers existing in the market, which account for 47.6%, the highest share.
Companies such as Gene-Probe Inc., Thermo Fisher Inc., Agilent Technologies Inc., major Universities such as National Cheng Kung University, Seoul National University Industry were the key innovators.
Other companies such as Novartis AG, 3M Company, bioMérieux also recorded patents.
Food Diagnostic Equipment and Consumables Market Report is segmented as indicated below:
A. Food diagnostic equipment and consumables Market – By Forms
B. Food diagnostic equipment and consumables Market – By Classification
1. Food testing equipment – By Type
1.1. Chromatography Systems
1.1.1. Gas Chromatography
1.1.2. Liquid Chromatography
1.1.3. Ion Chromatography
2. Polymerase chain reaction (PCR) equipment
2.3. Immunoassay systems
2.4. Hybrid systems
2.5. NMR Systems
2.6. Flow Cytometry systems
3.1. Atomic spectroscopy
3.2. Mass spectrometry
3.3. Molecular spectroscopy
3.4. Fluorescence spectroscopy
3.5. Imaging spectroscopy
4. Alcohol Analyzer
5.1. Automatic refractometers
5.2. Abbe refractometers
6.1. Automatic Titrators
6.2. Karl Fischer Titrators
6.3. Potentiometric Titrators
6.4. Thermometric Titrators
7. Moisture analyzers
8.1. Rotational or Shear rhoemeters
8.2. Extensional Rheometers
C. Food diagnostic equipment and consumables Market – By Application
1. Food chemistry analysis
2. Food microbiology analysis
3. Food nutrition analysis
4. Food allergen analysis
5. GMO testing
6. Food shelf-life studies
7. Natural food toxin analysis
D. Food diagnostic equipment and consumables Market – By End User
1. Food testing Laboratories
2. Food plant Labs (In-house facilities)
3. Research and Academic Labs
E. Food diagnostic equipment and consumables Market – By Classification
1. Food Testing Consumables – By Type
1.1. Test Kits
1.3. General Lab-ware
1.3.1. PCR tubes
F. Food Diagnostic Equipment and Consumables Market By Geography (Covers 12 + Countries)
G. Food Diagnostic Equipment and Consumables Market By Entropy
Charm Sciences Inc;
Du Pont De nemours
Perkin Elmer Inc;
IDEXX Laboratories Inc;
A. Food Safety Testing Equipment and Consumables Market
B. Allergy Diagnostics Market
What can you expect from the report?
The Food Diagnostic Equipment and Consumables Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, geography or application based reports in Food Diagnostic Equipment and Consumables Market?
Response: Yes, we do have separate reports as mentioned below:
1. Americas Market for Food Diagnostic Equipment and Consumables (2018-2023)
2. Europe Market for Food Diagnostic Equipment and Consumables (2018-2023)
3. APAC Market for Food Diagnostic Equipment and Consumables (2018-2023)
4. By Forms Food Diagnostic Equipment and Consumables (2018-2023)
5. By Classification Food Diagnostic Equipment and Consumables (2018-2023)
6. By Application Food Diagnostic Equipment and Consumables (2018-2023)
7. By End-User Food Diagnostic Equipment and Consumables (2018-2023)
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Source: EIN Presswire