Food Diagnostic Equipment and Consumables Market

Date: 2016-05

The food diagnostic industry is highly diversified market including of several equipment and consumables. To ensure the safety and nutritional value of a food product to be consumed some tests are conducted. The report provides a detailed analysis of all the diagnostic equipment used for food diagnosis, both in terms of both value and volume (unit shipments). The market is segmented into different equipment types and consumable type, by application and by geography. IndustryARC estimated that the global food diagnostic equipment market size for 2014 to be around $xxx m while that of consumables was around $xxx m.

Increasing trade of food around the world, rising instances of food mishaps resulting in product recalls, rising consumer awareness on food to be consumed, regular audits, are the key factors driving the demand for food diagnostic equipment. Stringent regulations enforced by regulatory agencies of different countries are another major factor fuelling the growth of this industry. The food product manufacturers are financing the food diagnostic services not just to ensure match with the food regulations of that country but also to increase marketability of their products by making various claims such as “Cholesterol Free”, “GM Free”, “Fat Free” etc.

The food diagnostic equipment market is segmented based on the major types of diagnostic equipment such as mass spectrometers, chromatography, PCR, ELISA, Immunoassay, cytometry and hybrid-systems and others.

North America is the dominant region accounting for XX% in 2014 with revenues of $xx. Rising standards for food safety in China and India is fuelling the demand for food diagnostic equipment and consumables in APAC which is poised to grow at the fastest CAGR of xx% by 2020.

PCR equipment accounted for the maximum share in 2014 and is estimated to grow with the fastest CAGR through 2020 owing mainly to the rise in the installations. Following PCR, Immunoassay and Hybrid-systems are to grow at faster rate. This diagnostic equipment is mostly used to test the nutritional value and contaminants in the food product.

Agilent Technologies Inc. (U.S.) and Thermo Fisher Inc. (U.S.) accounted for considerable share in the market owing to their strong focus on food diagnostic equipment segment. Thermo Fisher Inc. had made collaborations and acquisitions apart from launching six products to increase its revenues from food diagnostic equipment business unit. 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 recently which are used for varied applications of food testing.

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