Market Analysis and Insights: Global Genetically Modified Organism (GMO) Testing Market
Genetically modified organism (GMO) testing market is growing at a substantial CAGR of 8.0% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026. The growth of the market can be attributed to growing investments in R&D of Biotech and technological advancements in farming.
Market Definition: Global Genetically Modified Organism (GMO) Testing Market
Over the years, the technology used in GM has evolved as a reaction to the difficulties of feeding an ever-growing worldwide population to produce plants that are to be resistant to pests, viruses or climate. GM crops are often used intentionally for the manufacturing of meat and feed. GMO testing has some advantages such as it helps to decrease the crop prices, high nutritional value of crops.
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Competitive Analysis
Global genetically modified organism (GMO) testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of genetically modified organism (GMO) testing market for Global, Europe, North America, Asia-Pacific and South America.
Market Drivers:
• Technological advancements in farming is driving the market growth
• Growing investments in R&D of biotech is also expected to drive the growth of this market
• Increasing demand for nutritious food is boosting the market growth
• Diverse processed foods through GM crops is escalating the market growth
Market Restraints:
• Lack of regulation implementation is expected to restrain the market growth
• Lack of required technical personnel is also expected to hinder the market growth
• High cost of tests by manufacturers can restrain the market growth
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Segmentation: Global Genetically Modified Organism (GMO) Testing Market
By Trait
o Stacked
o Herbicide Tolerance
o Insect Resistance
By Technology
o Polymerase Chain Reaction (PCR)
o Immunoassay
By Crop & Processed Food Tested
o Crop
o Corn
o Soy
o Rapeseed/Canola
o Potato
o Others
 Tomato
 Sugarbeet
 Rice
o Processed Food
o Bakery & Confectionery
o Meat & Meat Products
o Breakfast Cereals & Snacks
o Food Additives
o Other Processed Food
 Infant food
 Dairy products
 Processed beverages
By Geography
• North America
o US
o Canada
o Mexico
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Key Developments in the Market:
• In November 2018, Oeko-Tex has announced the launch of GMO Test for Organic Cotton. This can identify the known genetically modified materials with a limit of 0.1% test results which indicates whether these GMOs were detected or not. This product launch helps the company to enhance their product portfolio and increase more revenue through it
• In March 2018, NCRST has launched The National Genetically Modified Organism (GMO) Testing, Training and Research Laboratory. This laboratory provides the testing services for Genetically Modified Organism (GMO).This development helps the company to increase their customer base through this new laboratory
Major Market Competitors/Players
Few of the major competitors currently working in the global genetically modified organism (GMO) testing market are Thermo Fisher Scientific, Inc., SGS S.A., Bureau Veritas, Intertek Group plc, Eurofins Scientific, Tüv Süd, Bio-Rad Laboratories, Inc., ALS Limited, Mérieux Nutrisciences, Asurequality, Romer Labs Division Holding GmbH, Microbac Laboratories, Inc., Emsl Analytical Inc., Genetic ID, Inc., IfpInstitut fur Produktqualitat GmbH, OMIC USA Inc., Silliker, Inc. among others.
Research Methodology: Global Genetically Modified Organism (GMO) Testing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
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