Study: N.A. food pathogen testing market to witness substantial gains through 2024
Market players are adopting partnership programs, joint ventures and acquisition activities as major growth strategies.
The commercialization matrix of the food pathogen testing market has witnessed a remarkable surge in recent years, augmented by the stringency in food regulations implemented by FDA, FAO and EU, to name a few. Food processors are continuously brainstorming new manufacturing facilities that can quickly and efficiently detect the presence of pathogens in food. With the increasing consumer awareness in food safety and hygiene, food processors and testing laboratories are shifting their focus toward the deployment of high-performance and effective food pathogen testing technologies.
In fact, the food industry is likely to stimulate the food pathogen testing market size, which was pegged at a valuation of $3 billion in 2016, according to a study produced by Global Market Insights, Inc., Ocean View, Del.
Case in point: market players are adopting partnership programs, joint ventures and acquisition activities as major growth strategies. The ongoing developments in this market indicate the extensive scope for entrants and established players to tap into the technological domain to augment popularity. The incorporation of biosensors and nanotechnology in pathogen detection systems is likely to bring forth numerous opportunities for players in the coming years. Considering the future scope of this market, testing equipment developers are looking to develop products with high accuracy and a user-friendly design for quick results. Furthermore, in a bid to increase lab productivity and performance, food pathogen testing equipment manufacturers are deploying automated systems. Driven by a strict regulatory landscape, the market will surpass revenue collection of $5.5 billion by the end of 2024.
Food providers across North America are increasingly focusing on the adverse effect of contaminated food. These initiatives are likely to substantially drive North America food pathogen testing, which as per estimates, will surpass a revenue collection of $2 billion by 2024.
Plus, the growing technological advancements prevalent in the current pathogen testing methods will lead to a generation of new entrants in food pathogen testing.