In view of growing demand from the agriculture industry, the global phytopathological disease diagnostics market is projected to surpass US$ 130 Mn mark by the end of 2029. The market will display a steady rate of growth during 2019 - 2029, as suggested by a new Future Market Insights (FMI) study. Phytopathological disease diagnostics are projected to witness heightened adoption in the agriculture and forestry industries. This demand growth is attributed to growing need for superior plant health management and reduced risk of plant related diseases, concludes the FMI study.
"Increasing prevalence of plant diseases and rising demand for food due to the surging population are prominent factors augmenting the growth prospects of the phytopathological disease diagnostics market," says the FMI analyst.
Key Takeaways of the Phytopathological Disease Diagnostics Study
- Rising adoption of phytopathological disease diagnostic kits for plant disease detection will be a major source of revenue.
- Lateral flow devices are set to be a prominent segment, with better accuracy and faster results.
- Serological tests will be a key segment, with significant availability for test performance in the industry.
- Europe will hold major a market share, owing to evolution in technology.
Phytopathological Disease Diagnostics Market - Top Growth Drivers
- Concerns over economic losses arising from plant related diseases would be a major growth driver.
- Advancements in molecular diagnostics for phytopathogens will bolster overall demand.
- An upsurge in private investments towards research and development in agriculture is a key driving factor.
- Rising investments in digitalization will accelerate sales.
Phytopathological Disease Diagnostics Market - Key Restraints
- Reluctance of agriculture businesses towards paying the upfront costs of phytopathological disease diagnostics is a key restraint to the market.
- Conventional phytopathological disease diagnostics market players are also being restrained by the resistance of microbes to present cures.
Some of the prominent players that are covered by the study include, but are not limited to, Thermo Fischer Scientific, Qualiplante, Clear Detections B.V., Agdia Inc., and Merck KGaA. Leading players in the field of phytopathological disease diagnostics are investing in product development and launches to bolster scope of application. Further, regional manufacturers are pushing for digitalization of their services to bolster overall demand.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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