Opportunity in Global Food Safety Diagnostics Market, Forecast to 2017
Innovative and Disruptive technologies will Drive Food Safety Diagnostics Market
Increasing import and export due to globalization has by large increased the incidents of contamination which has led to growing incidence of foodborne illness, food safety scandals and health scares among consumers. This has increased food recalls and change in regulatory framework, thereby accelerating the need for testing equipment across the value chain. Use of innovative technology in diagnostics such as genome sequencing, integrated equipment (sensors integrated with portable devices) and the Internet of Things will help track and examine food products throughout the supply chain. Going forward, there is likely to be increased pressure on diagnostic companies to ensure the quality and safety, which requires them to innovate new technologies that can deliver results in less time. Rapid testing technology is forecasted to be the fastest-growing due to higher accuracy, greater sensitivity and ability to test a wide range of contaminants in comparison to traditional technology. Technologies such as bacteriophages, biochips, biosensors that offer cost effectiveness, ability to test multiple samples in less time and capability to identify multiple pathogens are expected to flourish in future. The extensive need to match innovation demand and increasing competition had led manufacturers to either collaborate with technology partners or self-developing technologies to cater to market needs. Growing concerns with regards to food contamination and stringent regulations over food safety led to development of diagnostic equipment with faster testing technology which is expected to stimulate the food safety diagnostic market.
Use of innovative technology in diagnostics such as genome sequencing, integrated equipment (sensors integrated with portable devices) and Internet of Things will help track and monitor food products throughout supply chain.
This edition of the Agriculture & Nutrition Opportunity Engine Series, showcases opportunities in food safety diagnostics market.