North America Mycotoxin Testing Market, By Type (Aflatoxins, Ochratoxins, Fusarium Toxins, Deoxynivalenol, Patulin, Penicillium Toxins, Cyclopiazonic Acid, Ergot Alkaloids, Citrinin, Sterigmatocystin, Alternaria, T-2 Toxin, Zearalenone, Others), Product Type (Devices, Reagents & Kits, Services), Technology (Chromatography Based, Immunoassay-Based, Lateral Flow Assay Based, Spectroscopy Based, Others), Sample (Food, Feed, Pharmaceuticals), End User (Research Lab, Research Institutes, Food Testing Industries, Feed Testing Industries, Other), Country (U.S., Canada, Mexico) – Industry Trends & Forecast to 2027
Market Analysis and Insights : North America Mycotoxin Testing Market
Mycotoxin testing market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.2% in the forecast period of 2020 to 2027 and is expected to reach USD 9,462.31 thousand by 2027. Wide range of applications in cosmetic industry and growing demand of bioethanol as a fuel is the major driver which is propelling the market in the forecast period.
Mycotoxins are secondary metabolites generated by a variety of filamentous fungi that grow on different foods and feeds. Such compounds cause a wide range of toxicological effects, which present a health risk for both humans and animals. Analysis of mycotoxins is an important method for managing fungal contamination of food and feed. The consequences of certain food-borne mycotoxin are severe, with signs of a serious illness occurring rapidly after the ingestion of mycotoxin-contaminated food items. Many food-borne mycotoxins have been related to long-term health effects, including cancer induction and immune deficiency. The detection method used in mycotoxin quantification methods includes chromatographic techniques, physico-chemical methods, biological methods, and immunological methods. Raising mycotoxins production owing to humid atmospheric conditions and straighten government regulations regarding food safety is driving the mycotoxin testing market. Lack of food control infrastructure & instrumentation in emerging countries and high capital investment is expected to restraint the usage of mycotoxin testing in the forecasted period.
The mycotoxin testing market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Mycotoxin testing Market Scope and Market Size
Mycotoxin testing market is segmented on the basis of type, product type, technology, sample and end user.The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the mycotoxin testing market is segmented into aflatoxins, ochratoxins, fusarium toxins, deoxynivalenol, patulin, penicillium toxins, cyclopiazonic acid, ergot alkaloids, citrinin, sterigmatocystin, alternaria, T-2 toxin, zearalenone, others. The fusarium toxins is further sub-segmented into trichothecenes, zearalenone, fumonisin and others. In 2020, alfatoxins segment comprised the highest market share owing to factors such as high prevalence in the agricultural products, which are used for human consumption such as corn, peanuts, groundnuts, cotton seeds, and tree nuts.
- On the basis of product type, the mycotoxin testing market is segmented into devices, reagents & kits, and services. In 2020, reagents & kits segment have comprised the highest market share due to the utilization of the kits and strips across all laboratory procedures and innovation with the rapid test kits have leading their growth across African region.
- On the basis of technology, the mycotoxin testing market is segmented into chromatography based, immunoassay-based, lateral flow assay based, spectroscopy based, and others. In 2020, chromatography based segment holds the largest market share as the services involved in the mycotoxin testing provides efficient testing with HPLC and LC chromatography and their accuracy with respect to the content detection in analytical procedures have led their dominance in mycotoxin testing.
- Based on sample, the mycotoxin testing market is segmented into food, feed, and pharmaceuticals. In 2020, the food segment has comprised the highest market share as mycotoxin majorly causes spoilage to food products especially maize and cereals.
- On the basis of end user, the mycotoxin testing market is segmented into research lab, research institutes, food testing industries, feed testing industries and other. In 2020, food testing industries segment has comprised the highest market share as testing services are majorly opt by food industry due to the strict government guidelines and framework before commercialization of the food products which have led their dominance in the mycotoxin testing market.
Mycotoxin Testing Market Country Level Analysis
The mycotoxin testing market is analysed and market size information is provided by country, type, product type, technology, sample and end user as referenced above.
The countries covered in the mycotoxin testing market report are the U.S., Canada, Mexico.
North America is expected to dominate the market due to growing promotion and innovation along with awareness program of the region U.S. is dominating in the market and leading the growth in the North America market due to growing testing laws and regulations framed towards the hygiene food in the region with the promising growth rate in the forecast period of 2020 to 2027.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Technological Advancements for Rapid Testing and Detection is Creating New Opportunities for Players in the Mycotoxin testing Market
Mycotoxin testing market also provides you with detailed market analysis for every country growth in particular industry with Mycotoxin testing sales, impact of advancement in the Mycotoxin testing and changes in regulatory scenarios with their support for the Mycotoxin testing market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Mycotoxin testing Market Share Analysis
Mycotoxin testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Mycotoxin testing Market.
The major players covered in the report are Bureaus Veritas, Group plc, Eurofins Scientific, NEOGEN Corporation., LGC Limited (A SUBSIDIARY OF KOHLBERG KRAVIS ROBERTS & CO. L.P.), EnviroLogix, TÜV SÜD, VICAM, A Waters Business, SGS SA, Fera Science Limited (A Subsidiary Of Capita plc.), AB Sciex Pte. Ltd., R-Biopharm AG, TLR International Laboratories, Deltamune, Mérieux NutriSciences, QIMA, Certified Laboratories, Romer Labs Division Holding GmbH, OMIC USA Inc., among other domestic and North America players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the mycotoxin testing market.
For instance,
- In July 2020, LGC Limited acquired the Native Antigen Company which is a leading supplier of high quality infectious disease antigens and antibodies. The acquisition is going to enhance the credibility and brand image of the company.
- In March 2018, BUREAU VERITAS acquired EMG Corporation (EMG) which was a leader in construction and other services. The company has strengthened its service portfolio through the acquisition which has enhanced its brand value for the company and generated more income to it.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the mycotoxin testing market which also provides the benefit for organisation to improve their offering for mycotoxin testing.
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