LONDON--(BUSINESS WIRE)--The global PCR system for the food diagnostic market 2018-2022 is expected to post a CAGR of close to 7% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising foodborne illness. The huge number of foodborne illness and illnesses caused by food contamination during processing indicate that F&B manufacturing companies cannot afford to compromise on food safety standards. Thus, it becomes important for these companies to have strong food testing products such as PCR diagnostic systems. PCR diagnostic systems are used to check for the presence of microorganisms or human pathogens such as Salmonella, E. coli, and Listeria.
This market research report on the global PCR system for food diagnostic market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing product recalls as one of the key emerging trends in the global PCR system for the food diagnostic market:
Global PCR system for the food diagnostic market: Increasing product recalls
Globally, product recalls in food products have increased, which is not a good indicator for the growth of the food safety industry. Though some products have been relaunched and have regained their market presence, there is still a huge number of products facing recalls due to safety issues.
“Product recalls can be harmful to companies and can lead to huge financial losses as well as loss of brand reputation. Thus, to reduce the number of recalls, F&B companies are required to invest in proper food safety systems. With the surge in product recalls the need for safety testing systems such as PCR also increases, thus driving market growth,” says a senior market research analyst at Technavio for research on life science research tools.
Global PCR system for food diagnostic market: Segmentation analysis
This market research report segments the global PCR system for the food diagnostic market by product (consumables, and instruments) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with more than 40% of the market share, followed by EMEA and APAC, respectively. The dominance of the Americas can be attributed to the increasing stringent regulations and the initiation of food safety acts.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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