Food Diagnostics Market

According to Stratistics MRC, the Global Food Diagnostics Market is accounted for $16.50 billion in 2023 and is expected to reach $31.55 billion by 2030 growing at a CAGR of 9.70% during the forecast period. In order to guarantee food products' safety and quality, food diagnostics is an important field that involves the detection and analysis of contaminants, pathogens, and other substances in food products. By utilizing sophisticated methods like DNA analysis, chromatography, and spectroscopy, researchers can detect possible dangers such as allergens, pesticides, bacteria, and toxins. Moreover, quick and precise food diagnostics are essential for avoiding food borne infections, upholding legal compliance, and protecting the general public's health.

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Market Dynamics: 

Driver: 

Growing number of food borne illnesses

The consumption of packaged and processed foods has increased in tandem with the growth in the world's population and urbanization. Unfortunately, as a result of pathogens like bacteria, viruses, and parasites contaminating food products, this trend has also increased the frequency of foodborne illnesses. Additionally, as a result, there is a greater need than ever for efficient food diagnostic solutions to recognize and reduce possible hazards before tainted goods are sold to customers.

Restraint:

High expenses of cutting-edge diagnostic tools

While improvements in technology have resulted in the creation of increasingly complex and precise food diagnostic techniques, these state-of-the-art tools are frequently expensive. Smaller food businesses and laboratories may find it prohibitive to make the initial investment necessary for acquiring and implementing advanced diagnostic equipment and systems. Furthermore, these technologies are not widely adopted, especially in emerging economies and small-scale food enterprises, due to additional financial burdens such as ongoing maintenance, calibration, and training costs.

Opportunity:

Rapid development in emerging markets and the food sector

The food industry is expanding rapidly worldwide due to various factors like urbanization, population growth, and shifting consumer preferences. Asia-Pacific, Latin America, and Africa are among the emerging markets that offer substantial potential for the food diagnostics industry to grow. Moreover, strong food safety and quality assurance solutions are required as these areas experience economic growth and urbanization due to the rising demand for packaged and processed foods.

Threat:

Barriers to market access and regulatory compliance

Food diagnostic companies face challenges in expanding their operations and entering new markets due to strict regulations and standards enforced by regulatory bodies. Food manufacturers and diagnostic service providers bear heavy financial and resource costs as a result of complying with various and changing regulatory frameworks, such as those pertaining to food safety, quality standards, and labeling requirements. Additionally, international trade and market access are further complicated by regional and national regulatory requirements that differ and are inconsistent.

Covid-19 Impact: 

The food diagnostics market has been impacted by the COVID-19 pandemic in a number of ways. On the one hand, there is a greater need for diagnostic tools to guarantee the quality and safety of food products due to the growing emphasis on food safety and hygiene. Regulatory bodies, food producers, and food processors have stepped up testing and observation programs to find possible contaminants and stop the virus from spreading through food. However, the pandemic has caused supply chain disruptions, which have impacted the availability and accessibility of food diagnostic goods and services by creating logistical problems, a labor shortage, and production delays.

The Immunoassay Based segment is expected to be the largest during the forecast period

The market for food diagnostics is expected to be dominated by the immunoassay-based diagnostics segment. Immunoassay-based techniques, which rely on the specific binding of antibodies to target analytes, are popular for routine testing in food safety laboratories and food production facilities. Furthermore, they offer advantages like high sensitivity, rapid results, and ease of use. Immunoassay-based kits and platforms are widely used for screening food products for various hazards, including microbial pathogens, toxins, pesticides, and allergens.

The Pathogens segment is expected to have the highest CAGR during the forecast period

The food diagnostics market's pathogen diagnostics segment is projected to grow at the highest CAGR. Detecting dangerous bacteria, viruses, and parasites that can lead to food borne illnesses is what pathogen diagnostics do, and it is essential to maintaining food safety. The need for quick and precise ways to find pathogens in food products has increased due to the rise in foodborne illness cases and growing worries about food safety. Moreover, pathogen detection has undergone a revolution thanks to advanced molecular diagnostic techniques like Next-Generation Sequencing (NGS), immunoassays, and polymerase chain reaction (PCR), which offers higher sensitivity, specificity, and speed than conventional culture-based methods.

Region with largest share:

The market for food diagnostics is dominated by North America. The region's dominance is ascribed to multiple factors, such as the existence of important market players and research institutions, strict regulations pertaining to food safety, and sophisticated healthcare infrastructure. The United States Department of Agriculture (USDA) and the Food and Drug Administration (FDA) enforce strict standards and regulations to guarantee the safety and quality of food products, which fuels the demand for advanced food diagnostic technologies. Additionally, the adoption of advanced diagnostic solutions in the region has also been fueled by rising foodborne illness incidence and heightened consumer awareness of food safety.

Region with highest CAGR:

The market for food diagnostics is growing at the highest CAGR in the Asia-Pacific region. Numerous factors are driving this growth, such as population expansion, fast urbanization, rising disposable incomes, and changing food safety laws. Robust food diagnostic solutions are becoming increasingly necessary to guarantee food safety and quality throughout the supply chain as consumers become more health-conscious and demand safer food products. Furthermore, the region's adoption of advanced diagnostic technologies is being propelled by the growth of the food processing industry, the globalization of food trade, and the increasing prevalence of foodborne illnesses. 

Key players in the market

Some of the key players in Food Diagnostics market include Biomerieux Sa, Thermo Fisher Scientific Inc., Merck KGaA, Danaher Corporation, 3M Company, Randox Food Diagnostics, Shimadzu Corporation, Bio-Rad Laboratories, Inc., Neogen Corporation, Ring Biotechnology Co Ltd., Agilent Technologies Inc., Nemis Technologies AG, Clear Labs, Inc., PerkinElmer Inc. and Biorex Food Diagnostics.

Key Developments:

In April 2024, Merck KGaA Darmstadt, Germany entered into a licensing agreement with Inspirna, Inc. for ompenaclid (RGX-202), a first-in-class oral inhibitor of the creatine transport channel SLC6A8, and SLC6A8-targeting follow-on compounds. Ompenaclid is currently being evaluated in a Phase II study for the second-line treatment of RAS-mutated (RASmut) advanced or metastatic colorectal cancer (mCRC).

In October 2023, To support emerging precision therapies and improve patient outcomes by increasing access to reliable genomic testing needed to match patients with targeted cancer treatments, Thermo Fisher Scientific today announced a companion diagnostic (CDx) partnership with Boehringer Ingelheim. Through this collaboration, the companies will work to develop CDx tests to help identify patients with non-small cell lung cancer (NSCLC) with specific genomic mutations.
 
In August 2023, Science and medical technology firm Danaher announced that it has entered into an agreement to acquire Abcam, a Cambridge, U.K.-based supplier of antibodies, reagents, biomarkers, and assays. Under the agreement, Danaher will acquire all outstanding Abcam shares for $24 per share in cash, with a total enterprise value of approximately $5.7 billion, including Abcam’s assumed debts and net of acquired cash.

Types Covered:
• Systems
• Consumables
• Other Types
 
Testing Types Covered:
• Safety
• Quality

Diagnostics Systems Covered:
• Hybridization Based
• Chromatography Based
• Spectrometry Based
• Immunoassay Based
• Biosensors
• Testing Kits
• Other Diagnostics Systems

Sites Covered:
• Outsourcing Facility
• Inhouse
 
Contaminant Types Covered:
• Pathogens
• Pesticides
• Genetically Modified Organisms (GMOs)
• Toxins
• Other Contaminant Types

Applications Covered:
• Meat, Poultry, and Seafood
• Dairy Products
• Processed Food
• Fruits & Vegetables
• Cereals, Grains, and Pulses
• Nuts, Seeds, and Spices
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances