Report Code: CMI33449

Published Date: October 2023

Pages: 220+

Category: Agriculture

Report Snapshot

CAGR: 5.2%
3.1B
2022
3.2B
2023
4.8B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Thermo Fisher Scientific Inc.
  • Agilent Technologies Inc.
  • PerkinElmer Inc.
  • Shimadzu Corporation
  • Waters Corporation
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Pesticide Residue Detector Market is expected to record a CAGR of 5.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 3.1 Billion. By 2032, the valuation is anticipated to reach USD 4.8 Billion.

The Pesticide Residue Detector Market encompasses a range of technologies and solutions designed to identify and quantify pesticide residues in various commodities, particularly in the food and agriculture sectors. It plays a critical role in ensuring food safety and compliance with regulatory standards.

Key components of the market include analytical instruments, testing kits, and laboratory services. Factors driving market growth include stringent food safety regulations, increased awareness of pesticide-related health risks, and advancements in detection technologies.

As consumers demand safer and pesticide-free products, the market continues to evolve with innovative solutions to address these concerns and enhance food quality.

Pesticide Residue Detector Market – Significant Growth Factors

The Pesticide Residue Detector Market presents significant growth opportunities due to several factors:

  • Stringent Food Safety Regulations: Increasingly strict food safety regulations and maximum residue limits (MRLs) for pesticides drive the adoption of residue detectors. These regulations necessitate regular monitoring and testing of agricultural produce and processed foods to ensure compliance, boosting market demand.
  • Growing Awareness of Health Concerns: Rising consumer awareness of the health risks associated with pesticide residues in food products is a significant driver. Consumers are demanding safer, pesticide-free food, pressuring manufacturers and growers to invest in residue detection technologies.
  • Advancements in Detection Technology: Continuous technological advancements, such as the development of high-sensitivity detectors and rapid testing methods, are driving market growth. These innovations enable more accurate and efficient pesticide residue analysis, reducing testing times and costs.
  • Globalization of Food Trade: The globalization of food supply chains and increased international trade necessitate rigorous pesticide residue testing to meet import and export regulations. This globalization factor drives demand for residue detectors to ensure food safety and compliance across borders.
  • Expansion into Emerging Markets: There is significant growth potential in emerging markets where food safety regulations are evolving and consumer awareness is increasing. Companies can expand their presence by offering cost-effective and localized pesticide residue detection solutions.
  • Diversification of End-User Industries: Pesticide residue detection services can diversify their client base by offering services to other industries, such as pharmaceuticals and cosmetics, which also require strict quality control and regulatory compliance.
  • Innovations in Portable and On-Site Testing: Developing portable and on-site pesticide residue detection solutions that are user-friendly and provide rapid results presents a substantial opportunity. This approach can cater to the needs of smaller farms and food processors, increasing accessibility to residue testing.

Pesticide Residue Detector Market – Mergers and Acquisitions

The Pesticide Residue Detector Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Pesticide Residue Detector Market include:

  • In 2023, Syngenta Group introduced an Ag Innovation Collaboration and Accelerator Platform aimed at addressing complex agricultural challenges, fostering innovation, and promoting sustainable agriculture practices in the industry.
  • In 2022, Neogen successfully completed its merger with 3M Food Safety Business, establishing a prominent innovator in the industry. The merged entity boasts expanded geographical reach, advanced product offerings, digital capabilities, and financial agility, positioning it to leverage growth opportunities in sustainability, food safety, and supply chain integrity.
  • In 2019, BASF and Taranis joined forces in a partnership focused on creating and promoting innovative artificial intelligence (AI)-driven agriculture solutions that incorporate pesticide residue detection technology. This collaboration’s primary goal is to assist farmers in enhancing crop yields while simultaneously minimizing their environmental footprint.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Pesticide Residue Detector Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Pesticide Residue Detector Market Pasture Seeds Market Secondary Macronutrients Market
CAGR 5.2% (Approx) CAGR 9.5% (Approx) CAGR 5.3% (Approx)
USD 4.8 Billion by 2032 USD 31.88 Billion by 2032 USD 72.1 Million by 2032

Pesticide Residue Detector Market – Significant Threats

The Pesticide Residue Detector Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Cost Constraints: The high initial cost of purchasing and maintaining advanced pesticide residue detection equipment can be a significant barrier, especially for small-scale farmers and food producers. Cost constraints may limit their adoption of these technologies.
  • Technological Complexity: While advancements in detection technology are a driver, they also pose a threat. The complexity of operating and maintaining sophisticated detectors may deter some users, leading to potential errors or reduced accuracy in testing.
  • Regulatory Changes: Frequent changes in pesticide residue regulations and standards can create uncertainty for businesses. Adapting to evolving regulatory requirements may require additional investments and resources.
  • False Positives/Negatives: Pesticide residue detectors may sometimes produce false positive or false negative results. These errors can have serious consequences, leading to unnecessary food recalls or unsafe products reaching consumers.
  • Competition from Alternative Methods: Alternative pesticide residue testing methods, such as blockchain-based traceability and smart packaging, could pose a threat. These methods offer transparency in the supply chain without the need for extensive laboratory testing, potentially reducing the demand for traditional residue detectors.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 3.2 Billion
Projected Market Size in 2032 USD 4.8 Billion
Market Size in 2022 USD 3.1 Billion
CAGR Growth Rate 5.2% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Technology, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type:

  • Handheld Pesticide Residue Detectors: Handheld detectors are compact, lightweight devices designed for on-site pesticide residue testing. They provide convenience for field operators and inspectors, offering rapid results without the need for sample transportation to a laboratory. These detectors often feature user-friendly interfaces and may integrate with smartphones or tablets for data management. In recent trends, there’s a focus on improving portability, battery life, and the ability to detect multiple pesticide residues simultaneously.
  • Desktop Pesticide Residue Detectors: Desktop detectors are larger, more sophisticated instruments used in laboratory settings. They excel in providing precise and comprehensive analysis of pesticide residues. Recent trends in desktop detectors include increased automation to enhance workflow efficiency, higher throughput capacity to accommodate large sample volumes, and advancements in analytical capabilities, such as improved sensitivity and specificity.
  • Portable Pesticide Residue Detectors: Portable detectors bridge the gap between handheld and desktop models. They offer a balance between mobility and analytical accuracy, making them suitable for applications where on-site or remote testing is necessary. These detectors are trending due to the growing demand for rapid on-site testing in agriculture, food processing, and environmental monitoring. Manufacturers are continually working to enhance their portability, durability, and the range of pesticide residues they can detect.
  • Automated Pesticide Residue Detectors: Automation is a key driver of efficiency in the pesticide residue detection market. Automated detectors are designed to handle high sample volumes with minimal human intervention. Recent trends in automation include the integration of robotics, sample preparation automation, and data analysis software. These advancements aim to reduce human error, increase the speed of pesticide residue analysis, and meet the demands of high-throughput testing required by the food industry and regulatory authorities.

Global Pesticide Residue Detector Market 2023–2032 (By Billion)

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By Technology

  • Chromatography: It is a widely used technology in pesticide residue detection, separating and quantifying pesticide compounds from complex matrices. Trends include the adoption of high-performance liquid chromatography (HPLC) and gas chromatography-mass spectrometry (GC-MS) for enhanced sensitivity and accuracy. Advances in column technology and detection systems are improving efficiency.
  • Spectroscopy in Pesticide Residue Detectors: Spectroscopy methods, such as infrared (IR) and ultraviolet-visible (UV-Vis) spectroscopy, are employed for rapid pesticide residue analysis. Trends involve the development of portable and handheld spectroscopic devices, enabling on-site testing. Additionally, the integration of spectroscopy with data analytics enhances identification and quantification capabilities.
  • Immunoassay in Pesticide Residue Detectors: Immunoassay-based detectors rely on the specific binding of antibodies to pesticide residues. Trends include the use of enzyme-linked immunosorbent assays (ELISA) and lateral flow assays for quick and cost-effective screening. Ongoing research focuses on improving assay sensitivity and expanding the range of detectable pesticides.
  • Biosensors in Pesticide Residue Detectors: Biosensors offer real-time detection capabilities, leveraging biological components to interact with pesticides. Trends encompass the development of miniaturized and field-deployable biosensors for on-site testing. Advances in nanotechnology and biomarker identification enhance sensitivity, enabling rapid and selective detection of pesticide residues in various samples.

By Application

  • Food and Drug Administration (FDA): The FDA employs pesticide residue detectors for regulatory monitoring and compliance. Trends in this application involve increasing demand for high-sensitivity detectors to enforce stringent pesticide residue limits, as well as a focus on streamlining testing processes to expedite food safety evaluations.
  • Laboratory: Laboratories specializing in pesticide residue analysis rely on advanced detectors for precise and comprehensive testing. Trends in laboratory applications encompass the automation of sample preparation, the adoption of high-throughput detectors, and the development of software for data analysis and reporting, streamlining the analytical process.
  • Food Processing Industry: Pesticide residue detectors play a pivotal role in quality control for processed food products. Trends include the integration of detectors into production lines for real-time testing, enhancing efficiency, and ensuring compliance with residue standards.
  • Agricultural Sector: In agriculture, these detectors are used for pre-harvest and post-harvest testing to minimize pesticide usage and ensure crop safety. Trends include the adoption of precision agriculture techniques, such as drone-based detection, and the development of field-deployable detectors to support sustainable farming practices.
  • Environmental Safety: Pesticide residue detectors are employed to monitor pesticide levels in soil, water, and air, ensuring environmental safety. Trends include the use of remote sensing technologies and data analytics for comprehensive environmental monitoring, helping detect pollution and protect ecosystems.
  • Household: At-home pesticide residue detectors empower consumers to verify the safety of their produce. Trends involve user-friendly, portable devices that provide rapid results and connect to smartphones for easy data management, catering to health-conscious consumers.
  • Supermarket: Supermarkets utilize pesticide residue detectors to conduct random checks on fresh produce and ensure compliance with safety standards. Trends include the integration of detectors into supermarket operations, enabling real-time testing of incoming shipments and improving transparency in the supply chain.

Global Pesticide Residue Detector Market 2023–2032 (By Type)

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Pesticide Residue Detector Market – Regional Analysis

The Pesticide Residue Detector Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, a key trend in the pesticide residue detector market is the increasing emphasis on precision agriculture. Farmers are adopting advanced detectors and IoT technologies to monitor and manage pesticide use more efficiently. Additionally, regulatory bodies in North America continue to enforce stringent residue limits, driving the demand for high-sensitivity detectors.
  • Europe: Europe is witnessing a growing trend in sustainable agriculture and organic farming. This shift is driving the need for pesticide residue detectors that can accurately verify the absence of residues in organic products. European regulations are also becoming more stringent, necessitating advanced detectors to ensure compliance.
  • Asia-Pacific: In the Asia-Pacific region, a notable trend is the rapid adoption of pesticide residue detectors in emerging economies. The agriculture sector in countries like China and India is modernizing, with farmers increasingly recognizing the importance of residue testing. Additionally, there is a surge in research and development efforts to create cost-effective and user-friendly detectors tailored to the needs of Asian markets.
  • LAMEA: In this region, there is experiencing a trend towards greater collaboration between governments and the private sector to enhance food safety. Governments in the region are investing in advanced pesticide residue detection technologies to protect public health and promote agricultural exports. Additionally, given the region’s diverse climate and agriculture, there is a focus on developing detectors that can address specific local challenges and crop types.

Global Pesticide Residue Detector Market 2023–2032 (By Technology)

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Competitive Landscape – Pesticide Residue Detector Market

The Pesticide Residue Detector Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Thermo Fisher Scientific Inc.
  • Agilent Technologies Inc.
  • PerkinElmer Inc.
  • Shimadzu Corporation
  • Waters Corporation
  • Eurofins Scientific SE
  • SGS S.A.
  • Neogen Corporation
  • Randox Laboratories Ltd.
  • Bruker Corporation
  • JASCO Corporation
  • Tetracore Inc.
  • Charm Sciences Inc.
  • Intertek Group plc
  • Fera Science Ltd.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Several innovative newcomers have ventured into the pesticide residue detector market, introducing fresh perspectives and technologies to the landscape. Start-ups like AgroScout and Pesticide Data aim to disrupt the market by offering affordable, field-deployable detectors and data analytics platforms, enabling small-scale farmers to access advanced testing. These newcomers prioritize ease of use and cost-effectiveness.

In contrast, key players dominating the market include established names like Thermo Fisher Scientific, Agilent Technologies, and PerkinElmer. These giants have maintained their dominance by continually innovating with cutting-edge detection technologies, extensive distribution networks, and robust customer support.

They invest heavily in research and development, providing high-sensitivity detectors crucial for meeting stringent regulatory requirements and ensuring food safety on a global scale. Their market presence and technological prowess position them as leaders, albeit facing competition from agile new entrants in select niches.

The Pesticide Residue Detector Market is segmented as follows:

By Type

  • Handheld
  • Desktop
  • Portable
  • Automated

By Technology

  • Chromatography
  • Spectroscopy
  • Immunoassay
  • Biosensors

By Application

  • Laboratory
  • Food and Drug Administration
  • Food Processing Industry
  • Agricultural Sector
  • Environmental Safety Household
  • Supermarket

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Pesticide Residue Detector Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Pesticide Residue Detector Market: snapshot
  • Chapter 3. Global Pesticide Residue Detector Market – Industry Analysis
    • 3.1 Pesticide Residue Detector Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Stringent Food Safety Regulations
      • 3.2.2 Growing Awareness of Health Concerns
      • 3.2.3 Advancements in Detection Technology
      • 3.2.4 Globalization of Food Trade
      • 3.2.5 Expansion into Emerging Markets
      • 3.2.6 Diversification of End-User Industries
      • 3.2.7 Innovations in Portable and On-Site Testing.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Technology
      • 3.7.3 Market Attractiveness Analysis By Application
  • Chapter 4. Global Pesticide Residue Detector Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Pesticide Residue Detector Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Pesticide Residue Detector Market – Type Analysis
    • 5.1 Global Pesticide Residue Detector Market Overview: By Type
      • 5.1.1 Global Pesticide Residue Detector Market Share, By Type, 2022 and – 2033
    • 5.2 Handheld
      • 5.2.1 Global Pesticide Residue Detector Market by Handheld, 2024 – 2033 (USD Billion)
    • 5.3 Desktop
      • 5.3.1 Global Pesticide Residue Detector Market by Desktop, 2024 – 2033 (USD Billion)
    • 5.4 Portable
      • 5.4.1 Global Pesticide Residue Detector Market by Portable, 2024 – 2033 (USD Billion)
    • 5.5 Automated
      • 5.5.1 Global Pesticide Residue Detector Market by Automated, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Pesticide Residue Detector Market – Technology Analysis
    • 6.1 Global Pesticide Residue Detector Market Overview: By Technology
      • 6.1.1 Global Pesticide Residue Detector Market Share, By Technology, 2022 and – 2033
    • 6.2 Chromatography
      • 6.2.1 Global Pesticide Residue Detector Market by Chromatography, 2024 – 2033 (USD Billion)
    • 6.3 Spectroscopy
      • 6.3.1 Global Pesticide Residue Detector Market by Spectroscopy, 2024 – 2033 (USD Billion)
    • 6.4 Immunoassay
      • 6.4.1 Global Pesticide Residue Detector Market by Immunoassay, 2024 – 2033 (USD Billion)
    • 6.5 Biosensors
      • 6.5.1 Global Pesticide Residue Detector Market by Biosensors, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Pesticide Residue Detector Market – Application Analysis
    • 7.1 Global Pesticide Residue Detector Market Overview: By Application
      • 7.1.1 Global Pesticide Residue Detector Market Share, By Application, 2022 and – 2033
    • 7.2 Laboratory
      • 7.2.1 Global Pesticide Residue Detector Market by Laboratory, 2024 – 2033 (USD Billion)
    • 7.3 Food and Drug Administration
      • 7.3.1 Global Pesticide Residue Detector Market by Food and Drug Administration, 2024 – 2033 (USD Billion)
    • 7.4 Food Processing Industry
      • 7.4.1 Global Pesticide Residue Detector Market by Food Processing Industry, 2024 – 2033 (USD Billion)
    • 7.5 Agricultural Sector
      • 7.5.1 Global Pesticide Residue Detector Market by Agricultural Sector, 2024 – 2033 (USD Billion)
    • 7.6 Environmental Safety Household
      • 7.6.1 Global Pesticide Residue Detector Market by Environmental Safety Household, 2024 – 2033 (USD Billion)
    • 7.7 Supermarket
      • 7.7.1 Global Pesticide Residue Detector Market by Supermarket, 2024 – 2033 (USD Billion)
  • Chapter 8. Pesticide Residue Detector Market – Regional Analysis
    • 8.1 Global Pesticide Residue Detector Market Regional Overview
    • 8.2 Global Pesticide Residue Detector Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Pesticide Residue Detector Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Pesticide Residue Detector Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Pesticide Residue Detector Market, by Type, 2024 – 2033
      • 8.4.1 North America Pesticide Residue Detector Market, by Type, 2024 – 2033 (USD Billion)
    • 8.5 North America Pesticide Residue Detector Market, by Technology, 2024 – 2033
      • 8.5.1 North America Pesticide Residue Detector Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.6 North America Pesticide Residue Detector Market, by Application, 2024 – 2033
      • 8.6.1 North America Pesticide Residue Detector Market, by Application, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Pesticide Residue Detector Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Pesticide Residue Detector Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Pesticide Residue Detector Market, by Type, 2024 – 2033
      • 8.8.1 Europe Pesticide Residue Detector Market, by Type, 2024 – 2033 (USD Billion)
    • 8.9 Europe Pesticide Residue Detector Market, by Technology, 2024 – 2033
      • 8.9.1 Europe Pesticide Residue Detector Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.10 Europe Pesticide Residue Detector Market, by Application, 2024 – 2033
      • 8.10.1 Europe Pesticide Residue Detector Market, by Application, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Pesticide Residue Detector Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Pesticide Residue Detector Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Pesticide Residue Detector Market, by Type, 2024 – 2033
      • 8.12.1 Asia Pacific Pesticide Residue Detector Market, by Type, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Pesticide Residue Detector Market, by Technology, 2024 – 2033
      • 8.13.1 Asia Pacific Pesticide Residue Detector Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Pesticide Residue Detector Market, by Application, 2024 – 2033
      • 8.14.1 Asia Pacific Pesticide Residue Detector Market, by Application, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Pesticide Residue Detector Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Pesticide Residue Detector Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Pesticide Residue Detector Market, by Type, 2024 – 2033
      • 8.16.1 Latin America Pesticide Residue Detector Market, by Type, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Pesticide Residue Detector Market, by Technology, 2024 – 2033
      • 8.17.1 Latin America Pesticide Residue Detector Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Pesticide Residue Detector Market, by Application, 2024 – 2033
      • 8.18.1 Latin America Pesticide Residue Detector Market, by Application, 2024 – 2033 (USD Billion)
    • 8.19. The Middle East and Africa
      • 8.19.1 The Middle-East and Africa Pesticide Residue Detector Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Pesticide Residue Detector Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Pesticide Residue Detector Market, by Type, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Pesticide Residue Detector Market, by Type, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Pesticide Residue Detector Market, by Technology, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Pesticide Residue Detector Market, by Technology, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Pesticide Residue Detector Market, by Application, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Pesticide Residue Detector Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Thermo Fisher Scientific Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Agilent Technologies Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 PerkinElmer Inc.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Shimadzu Corporation
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Waters Corporation
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Eurofins Scientific SE
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 SGS S.A.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Neogen Corporation
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Randox Laboratories Ltd.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Bruker Corporation
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 JASCO Corporation
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Tetracore Inc.
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Charm Sciences Inc.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Intertek Group plc
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 Fera Science Ltd.
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Others.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
List Of Figures

Figures No 1 to 30

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Thermo Fisher Scientific Inc.
  • Agilent Technologies Inc.
  • PerkinElmer Inc.
  • Shimadzu Corporation
  • Waters Corporation
  • Eurofins Scientific SE
  • SGS S.A.
  • Neogen Corporation
  • Randox Laboratories Ltd.
  • Bruker Corporation
  • JASCO Corporation
  • Tetracore Inc.
  • Charm Sciences Inc.
  • Intertek Group plc
  • Fera Science Ltd.
  • Others

FAQs

The key factors driving the Market are Stringent Food Safety Regulations, Growing Awareness of Health Concerns, Advancements in Detection Technology, Globalization of Food Trade, Expansion into Emerging Markets, Diversification of End-User Industries And Innovations in Portable and On-Site Testing.

The “Technology” category dominated the market in 2022.

The key players in the market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., PerkinElmer Inc., Shimadzu Corporation, Waters Corporation, Eurofins Scientific SE, SGS S.A., Neogen Corporation, Randox Laboratories Ltd., Bruker Corporation, JASCO Corporation, Tetracore Inc., Charm Sciences Inc., Intertek Group plc, Fera Science Ltd., Others.

“North America” had the largest share in the Pesticide Residue Detector Market.

The global market is projected to grow at a CAGR of 5.2% during the forecast period, 2023-2032.

The Pesticide Residue Detector Market size was valued at USD 3.1 Billion in 2022.

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