Sep 18, 2020
Dioxin Analyzer Market to Reach US$ 376 Mn by 2030-end; COVID-19 Outbreak to Impede Sales Prospects in Near Term
by Team Fact.MR
The dioxin analyzer market is poised to grow at a value CAGR of over 3% and is expected to create an absolute dollar opportunity of US$ 102 Mn over the forecast period of 2020-2030. Dioxins and related chemicals are gaining particular attention owing to their toxic nature, and therefore, the sensitive and effective detection of dioxins has become imperative. Further, governments across the world have programs in place to monitor and protect food supply from the contamination of dioxins.
However, the COVID-19 outbreak has retarded the demand for dioxin analyzers due to the unavailability of components because of major supply chain disruptions. Manufacturers have temporarily shut down their plants, and the demand for dioxin analyzers is witnessing a downturn. However, recovery in demand is expected by the end of last quarter of 2020.
Key Takeaways from Dioxin Analyzer Market Study
- Under the impact of COVID-19, the global dioxin analyzer market is estimated to reach a market valuation of US$ 376 Mn by the end of 2030
- By technology, GC-MS/MS dioxin analyzers are projected to expand at a value CAGR of 2.7%, to be valued 2.3X than GC-HRMS by the end of 2020.
- On the basis of end user, the food testing laboratories segment is anticipated to expand 1.1X by 2030-end, to reach a market valuation of US$ 98 Mn.
- Collectively, government institutions and food product companies are foreseen to account for over 75% of the absolute $ opportunity from 2020 and 2030.
- By region, East Asia is expected to emerge as the fastest-growing dioxin analyzer market, and is projected to create an absolute $ opportunity of US$ 20 Mn by the end of 2030.
“Despite the impact of COVID-19, the recovery of the dioxin analyzer market is expected by the end of 2020. Post COVID-19 pandemic, swift growth in food safety and testing is expected to create demand for dioxin analyzers, thereby contributing to the growth of the market,” says a Fact.MR analyst.
Facility Expansion to Enhance Market Resiliency
Prominent players in the dioxin analyzer market are Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation., Bruker Corporation, Hitachi High-Tech Corporation, AB Sciex Pte. Ltd., JEOL Ltd., and Gasmet Technologies Oy, among others. These players are focusing on expanding their facilities to increase their reach in the global market. For instance,
- In 2019, Thermo Fisher Scientific Inc opened its customer solution center in India in collaboration with the Food Safety and Standards Authority of India (FSSAI). With this center, the company will focus on meeting the demands of scientists in F&B laboratories by developing integrated solutions, which will enable building food safety capacity in India.
- In 2019, the same company expanded the analytical instrument portfolio of US FDA Class 1 medical devices for clinical diagnostic laboratories. The portfolio provides an extensive range of chromatography and mass spectrometry instruments for lab development test optimization.
More Valuable Insights on Dioxin Analyzer Market
Fact.MR, in its new offering, presents an unbiased analysis of the global dioxin analyzer market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the dioxin analyzer market on the basis of technology (GC-MS/MS, GC-HRMS, and LC-MS/MS) and end user (food testing laboratories, government institutions, and food product companies), across seven regions.
>>> To Get more insights on dioxin analyzer market, visit- https://www.factmr.com/report/4159/dioxin-analyzer-market
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed systems manufacturing across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.