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Agricultural diagnostics market driven by stringent environmental regulation

Press Release   •   Nov 07, 2013 14:08 GMT

The global agriculture diagnostics market has been forecast to reach a value of $7.3 billion by the end of 2018, driven by stringent environmental regulations and an increase in the amount of money spent by food processing companies on quality control.

Rising concerns over food and water safety and tightening environmental regulations globally continue to increase the need for testing contaminants, thereby generating strong demand for agricultural diagnostics.

Growth is also buoyed by increasing government regulations, which is putting pressure on manufacturers to deliver high quality products in compliance.

Food residue testing market is gaining ground with the world food supply under constant threat from residues of drugs, environmental toxins and agricultural chemicals. Growth in the segment has accelerated over the past few years supported by increasing demand from laboratories and governmental agencies as well as regulations that ensure food safety.

Food Microbiology Testing represents a rapidly growing segment in the environmental and agricultural diagnostics market. Increased public attention to microbiological hazards due to the acute harm associated with pathogen contamination is driving growth in the market.

Rapid microbial testing is gaining momentum driven by inherent advantage of offering accurate testing within less time. Given the pace of current breakthroughs, the market is expected to witness the emergence of several novel procedures and ideas in the years to come.

According to a recent market report, 'Agricultural and Environmental Diagnostics: A Global Strategic Business Report,' Europe represents the largest market worldwide.

Asia-Pacific is projected to emerge as the fastest growing regional market registering a compound annual growth rate (CAGR) of 11.9% through 2018.

As the majority of emerging economies rely on agricultural commodity exports, these nations have been adopting quality control measures to widen market share in the international market.

For more information on the agricultural diagnostics market, see the latest research: Agricultural Diagnostics Market

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