Diagnostic procedures to evaluate the quality of soil and crops are referred to as agricultural and environmental diagnostics. The current agricultural performance is quantified and divided into various performance categories. To keep an agricultural or environmental system in good shape, agricultural and environmental diagnostics offer test equipment and services. Owing to the rise in energy consumption as a result of increased usage of large machinery and equipment in farming is anticipated to facilitate market development.
To make them more energy efficient, big agricultural farms, ranches, and rural small businesses are typically the target of the agricultural and environmental diagnostics industry. Utilizing energy-efficient automobiles, irrigation pumps, and motors is just one example of several technologies. This sped up market expansion of agricultural and environmental diagnostics.
The main factors driving the market of agricultural and environmental diagnostics are rural economic development, achieving food and energy security, government support through rebates on the purchase of farming test equipment, offering technical support, and providing free energy audits to farmers.
According to Business Research Insights, the global agricultural and environmental diagnostics market size was valued at USD 3,611.1 million in 2020 and is projected to reach a valuation of USD 7,131.2 by 2027 with a CAGR of 10.1% during the forecast period. The market has leading players such as Intertek Group PLC, BioControl Systems, C-Qentec Diagnostics, IDEXX Laboratories, Agdia, BioMerieux SA, R-Biopharm AG, PerkinElmer, Romer Labs, Neogen Corporation, Charm Sciences, Roche Diagnostics, Danaher Corporation, Accugen Laboratories, Michigan Testing, Bio-Rad, and Eurofins Scientific.
Pandemic Induced Lockdown to Hamper Market Growth During the Pandemic
The global economy has been severely disrupted by the onset and spread of the coronavirus (COVID-19) pandemic, which caused an imbalance in every sector globally. All industrial sectors have experienced significant labor reductions and job losses as a result of social exclusion, quarantine laws, and stringent travel restrictions. The agricultural industry was one of the areas that was totally exposed. Governments’ decision to declare a state of emergency led to the closure of agricultural enterprises worldwide, which had an effect on the entire supply chain from farmers to consumers.
Business Research Insights States Top 5 Companies Operating in the Market-
1. 3M Company (U.S.)
The 3M Company is an American global conglomerate with operations in manufacturing, consumer goods, healthcare, worker safety, and agriculture sectors. The business has created more than 60,000 products under various labels. Its headquarters are in Maplewood, Minnesota.
2. Thermo Fisher Scientific (U.S.)
Thermo Fisher is an American provider of scientific equipment, reagents, and consumables as well as software services. Thermo Fisher, headquartered in Waltham, Massachusetts, was formed in 2006 by the Union of Thermo Electron and Fisher Scientific. Other suppliers of reagents, consumables, instruments, and services, such as Life Technologies Corporation, Alfa Aesar, Affymetrix, and PPD, have been purchased by Thermo Fisher Scientific.
3. Intertek Group PLC (England)
A worldwide British firm called Intertek Group plc, with offices in London, England, specializes in assurance, inspection, product testing, and certification. It is a part of the FTSE 100 Index and is traded on the London Stock Exchange. As the largest consumer products tester in the world, Intertek Consumer Goods and Retail has a network of more than 1,000 laboratories spread across 100 nations.
4. BioControl Systems (U.S.)
BioControl Systems is situated in Bellevue on King County's eastern side in the U.S. BioControl has been a world-renowned innovator in industrial microbiology testing for over 30 years, offering food diagnostic solutions. The business provides a wide range of specialized, quick detection techniques for microbe quantification, food-borne pathogen detection, and hygiene monitoring.
5. C-Qentec Diagnostics Pty, Ltd. (Australia)
Agriculture diagnostic technologies are offered by C-Qentec Diagnostics Pty, Ltd. The business focuses on the operation and development of diagnostic science and agricultural production. The business was established in 2000 and has offices in Payneham and Epping, both in Australia.
Rising Demand for Agricultural Products to Pose an Opportunity for Market Growth
Demand for agricultural products has increased as a result of a growing middle class, with populations, notably in Asia, starting to consume food at the Organization for Economic Co-Operation and Development (OECD) levels. A large portion of that supply comes from tropical forest regions. Systemic solutions that can preserve livelihoods, food security, and economic resilience are crucial given the competing requirements of meeting agricultural demand, preserving livelihoods, and assuring economic development. The market gains from factors such as rising consumer and manufacturer awareness of environmental protection and rising demand for agricultural products. The market participants should expect to gain from new technology in the food processing sector that will improve product quality. Other factors affecting the market include rising rates of foodborne illnesses, strict government guidelines for food safety, and growing interest in organic foods.