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Food safety diagnostics market to hit $1.6 billion over the coming years

Press Release   •   Feb 18, 2013 11:21 GMT

The food safety diagnostics market has been forecast to hit a valuation of $1.6 billion over the coming years, driven by microbiologic tests, immunoassays and molecular tests.

Food safety is a scientific discipline describing handling, preparation, and storage of food in ways that prevent foodborne illness. This includes a number of routines that should be followed to avoid potentially severe health hazards.

Food can transmit disease from person to person as well as serve as a growth medium for bacteria that can cause food poisoning.

In developed countries there are intricate standards for food preparation, whereas in lesser developed countries the main issue is simply the availability of adequate safe water, which is usually a critical item. In theory food poisoning is 100% preventable.

The global food supply faces numerous threats, most notably bacteria and viruses but also environmental toxins, as well as adulterants, agricultural chemicals, and veterinary drugs.

The global food industry--including farms and agricultural production sites; distributors; food processors; retail; and food service industry--relies on product and environmental (work process surfaces and immediate facility) testing programs leveraging IVD products to ensure food safety. 
Food safety tests are completed by both food industry users and commercial or third-party laboratories specialising in confirmatory and advanced testing.

IVD manufacturers can expect a relatively open market opportunity in food safety testing. Food safety diagnostics do not qualify as medical devices or consumer products and are not subject to the regulatory approvals customary in clinical IVD or even veterinary diagnostics markets.

This means cost savings for test-makers used to going through FDA protocols as regulatory guidelines relating to food safety testing recommend rather than restrict usage of market-available products. Regional product certification provided by industry associations represents the primary challenge in market acceptance of food safety diagnostic products.

Key players currently dominating the food safety diagnostics market include 3M, bioMérieux SA, DuPont Qualicon, Life Technologies Corporation, Merck Millipore, Neogen Corporation, Thermo Fisher Scientific Inc., and Waters Corporation.

For more information on the food safety diagnostics market, see the latest research: Food Safety Diagnostics Market

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