(+1) 614-588-8538 Central and South America Food Safety Testing Market Size to Grow at CAGR of 6.80% Forecast2021-2026 Technological Advancements in Testing Industry Driving the Growth of Central & South America Food Safety Testing Market.
BriefingWire.com, 6/09/2021 - Central & South America Food Safety Testing Market size was valued at $ 1.29 Billion by 2020, and is anticipated to grow at a CAGR of 6.80% during the forecast period 2021-2026. The Central & South America Food Safety Testing Market growth rate is attributed to a rise in the cases of chemical contamination in food processing industries owing to improper use of techniques in the production of ready-to-eat meals is anticipated to boost the product demand in the market over the forecast period 2021-2026. Food safety testing is the examination of food products for disease-causing organisms, chemicals, and other hazardous materials. An increased outbreak of food-borne illnesses worldwid
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Global Microbiological Testing of Water Market was valued at USD 1.27 billion in 2019 and is expected to reach USD 2.16 billion by the year 2027, growing at a CAGR of 6.8%.
Rising water usage in the pharmaceutical industry, growing food industry, rising incidences of water-borne disease, increased technological adoption, and increasing contamination of reservoirs and other water sources are key factors contributing to the high CAGR of Microbiological Testing of Water Market during the forecast period.
Microbiological testing of water involves biological, biochemical, or chemical methods for detecting and identifying the microorganisms present in the water. The process of testing includes sampling, filtration, culturing, and incubation processes to give the final results.
IDEXX Laboratories Inc. (Nasdaq: IDXX) on Tuesday posted first-quarter results that surpassed market forecasts and raised its 2021 outlook to reflect expectations for higher organic revenue growth and better operating margins.
The Westbrook-based provider of veterinary diagnostics, veterinary practice software and water microbiology testing said that first-quarter revenue was $778 million, an increase of 24% on a reported basis and 21% higher organically over a year earlier. That exceeded the consensus forecast of analysts polled by Zacks Investment Research by 5.87%.
Earnings per diluted share of $2.35 represents 82% growth as reported and 73% on a comparable basis, beating the Zacks consensus estimate of $1.72 per share.
The company attributed the earnings increase to strong operating margin gains, reflecting benefits from high recurring revenue growth in its Companion Animal Group diagnostics division and favorable comparisons to higher operating expense levels in pre-pand