Let's look at a snapshot of present happenings we
Post# of 2022
Let's look at a snapshot of present happenings we know about and then we can make some pretty good guesses.
First of all, the picture looks very good concerning the show at Rhode Island, the AOAC show in Las Vegas, and now the Chicago food show this week. I say this from experience. By witnessing the MIT 1000 test myself, I was absolutely stunned. Therefore, I would say that real professionals will be affected the same way.
Secondly, we can pretty much say that certs are almost completed by timelines set by the company.
Thirdly, there are enough food pathogen lawsuits to fuel sales of the MIT 1000
Fourthly, growing concern in the global food industry over faster transportation of food has brought worry as present food-testing models are now failing to comply with new food safety requirements. Systems are being set up that will require testing into a cloud before food is shipped around the globe. You can read about that pilot project here:
As part of the FDA Food Safety Modernization Act (FSMA), signed by President Obama on January 4th, 2011, FDA's approach to food-borne illness is shifting from post-outbreak reaction, to early detection and prevention of contamination. As part of this new effort eLEXNET becomes the central food testing repository that will allow for the sharing of food testing data among various government agencies in a timely manner. This effort will provide a key tool in early detection of food related outbreaks.
The Electronic Laboratory Exchange Network (eLEXNET) is a seamless, integrated, secure network that allows multiple government agencies engaged in food safety activities to compare, communicate, and coordinate findings of laboratory analyses. eLEXNET enables health officials to assess risks, analyze trends and provides the necessary infrastructure for an early-warning system that identifies potentially hazardous foods. eLEXNET is a program funded by the Food and Drug Administration (FDA) and supported by the U.S. Department of Agriculture (USDA) and the Department of Defense (DoD). The eLEXNET project received the Department of Health and Human Services Secretary's Award from Secretary Tommy G. Thompson in June 2001, "For outstanding contributions to the successful development of the first electronic network to exchange laboratory data among federal, state, and local food safety agencies."
https://www.elexnet.com/elex/
Fourthly, the new food bill passed in 2011 will bring new food testing markets. Read the report:
Global Food Safety Products and Food Safety Testing Market is Expected to Reach USD 19,425.9 million and USD 4,891.9 million respectively in 2018: Transparency Market Research
Information contained on this page is provided by companies via press release distributed through PR Newswire, an independent third-party content provider. PR Newswire, WorldNow and this Station make no warranties or representations in connection therewith.
SOURCE Transparency Market Research
NEW YORK , October 16, 2012 /PRNewswire/ --
According to a new market report published by Transparency Market Research ( http://www.transparencymarketresearch.com ) " Food Safety Products Market and Food Safety Testing Market : Global Industry Size, Market Share, Trends, Analysis and Forecast, 2010 - 2018 ," the global market for food safety products was estimated to be worth USD 10,152 million in 2010, and is expected to reach USD 19,425.9 million by 2018, growing at a CAGR of 8.6% from 2013 to 2018. Whereas, the global market for food safety testing market was valued at USD 2,566 million in 2010 which is expected to reach a market worth USD 4,891.9 million by 2018, growing at a CAGR of 8.5% from 2013 to 2018.
Browse the full report at http://www.transparencymarketresearch.com/foo...arket.html
Some of the major factors driving the global growth of the food safety products market include growing outbreaks of food borne diseases caused due to presence of contaminants such as pathogens and chemicals in the food, stringent regulatory compliance norms and growing awareness regarding food safety among consumers.
Other factors which are impacting the overall market positively are the globalization of food supply trade which is increasing the level of cross contamination in food and food products, thus creating an increased need for food safety products and testing. However, the variation in the tests required for different food types and lack of food safety awareness in developing and under-developed countries along with a lack of uniformity among regional regulations are key factors expected to restrain the market.
Disinfection products are the largest product type, accounting for 43% of the global market in 2011. The market for disinfection products was estimated to be worth USD 4,451.7 million in 2010 and is expected to reach USD 8,285.1 million by 2018, growing at a CAGR of 8.2% from 2013 to 2018. In terms of growth, smart labels and tags are expected to be the fastest growing product segment, growing at a CAGR of 9.1% from 2013 to 2018.
Related & Recently Published Reports by Transparency Market Research
Compound Feed Additives Market
Fifthly, because lawsuits are so destructive for food agencies where pathogens are concerned, food insurance companies are growing every month. Thus, with protection against monetary losses of their own, insurance companies must have the best tools. Here is a small list of articles every investor must read.
http://insurance4foodindustry.com/blog/tag/fo...insurance/
http://producenews.com/index.php/news-dep-men...-is-enough
http://www.denverpost.com/news/ci_19279433
My conclusion is that MMTC may have 1000 machines or more in back order. We will have to wait for a PR to see. However, the above material tells me that the MIT 1000 is a hit yet to be announced.
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