Food Allergen Testing Market to Witness 31% Incremental Growth from APAC During 2020-2024 | Technavio

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the food allergen testing market, operating under the healthcare sector. The latest report on the food allergen testing market, 2020-2024 estimates it to register an incremental growth of by $ 783.20 mn, at a CAGR of 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 3M Co., ALS Ltd., Bio-Rad Laboratories Inc., Bureau Veritas SA, Eurofins Scientific SE, Intertek Group Plc, Neogen Corp., Quest Diagnostics Inc., Thermo Fisher Scientific Inc., and TUV SUD are among some of the major market participants.

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Increasing allergic reactions among individuals has been instrumental in driving the growth of the market. However, the high cost involved in allergen testing procedures might hamper the market growth.

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Food Allergen Testing Market 2020-2024: Segmentation

Food Allergen Testing Market is segmented as below:

Based on geographic segmentation, over 31% f the market’s growth originated from APACduring the forecast period. In addition, LC/MS technology dominated the growth under the technology segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the food allergen testing market size.

• Technology
  • LC/MS Technology
  • Immunoassay/ELISA Technology
  • PCR Technology
• Geography
  • North America
  • Europe
  • APAC
  • ROW

Food Allergen Testing Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The food allergen testing market report covers the following areas:

• Food Allergen Testing Market Size
• Food Allergen Testing Market Trends
• Food Allergen Testing Market Industry Analysis

This study identifies increasing product launches as one of the prime reasons driving the Food Allergen Testing Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Food Allergen Testing Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist food allergen testing market growth during the next five years
• Estimation of the food allergen testing market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the food allergen testing market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of food allergen testing market, vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Technology

• Market segments
• Comparison by Technology
• LC/MS technology - Market size and forecast 2019-2024
• Immunoassay/ELISA technology - Market size and forecast 2019-2024
• PCR technology - Market size and forecast 2019-2024
• Market opportunity by Technology

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• ROW - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 3M Co.
• ALS Ltd.
• Bio-Rad Laboratories Inc.
• Bureau Veritas SA
• Eurofins Scientific SE
• Intertek Group Plc
• Neogen Corp.
• Quest Diagnostics Inc.
• Thermo Fisher Scientific Inc.
• TUV SUD

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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