The environmental testing market refers to the industry that provides services and products for testing and analyzing various aspects of the environment. This can include air, water, soil, and other elements of the natural world. Environmental testing is essential for assessing and monitoring environmental conditions, ensuring compliance with regulations, and identifying potential hazards or contaminants that may harm ecosystems and human health.
The global environmental testing market is expected to be worth roughly $9.4 billion in 2022 and more than $13.9 billion by the end of 2027, with a CAGR of around 8.1% from 2022 to 2027.
As the world becomes more conscious of the need to pursue sustainable practices, the demand for environmental testing services is on an upward trajectory. This trend is expected to continue over the forecast period, with governments and industries placing greater emphasis on environmental protection and resource conservation. In this highly competitive market, environmental testing service providers are working to offer a diverse range of testing services that cater to the specific needs of different industries and comply with various regulatory requirements. The environmental testing industry is at the forefront of the battle against pollution, and its growth is a testament to the urgent need to create a healthier, more sustainable world.
North America was the dominating region for the environmental testing market during the forecast period.
The number of testing laboratories has doubled in the major regions of North America. And Various environmental governing organizations in the US have been driving the growth of the environmental testing market through implementing various environmental protection policies, with numerous initiatives by the authoritative bodies in North American countries are some the key factors dominating the market.
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Key Market Players
The key players in this market SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS (Australia), TÜV SÜD (Germany), AsureQuality (New Zealand), Mérieux NutriSciences (France), Microbac Laboratories, Inc. (US), Envirolab Services Pty Ltd (Australia), R J Hill Laboratories Limited (New Zealand), Symbio Laboratories (Australia), Alex Stewart International (UK), EMSL Analytical, Inc. (US), and F.B.A. Laboratories Ltd (Ireland). These players in this market are focusing on increasing their presence through expansion and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have infrastructure facilities along with strong laboratory networks across these regions.
Water is the fastest-growing sample segment for organic contaminants during the forecast period of the environmental testing market.
Organic contaminants in wastewater include dye, humic substances, phenolic compounds, petroleum, surfactants, pesticides, and medicines. Organic pollutants in water can cause toxic chemicals, this could result in major health consequences for individuals who drink water from various water sources. As a result, the government has been extremely strict in terms of drinking water. Thus, the water sample testing segment growing faster for organic compounds.
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Immunoassay is the dominating technology type in rapid testing, with the highest CAGR value in the environmental testing market.
Rapid testing of immunoassay tests is faster, more sensitive, and requires less sample. Hence, conventional immunoassay-based tests are being dominated by new technology. As a result, industries have been opting for rapid technology for immunoassay.
Global Environmental Testing Market size is expected to reach US$ 12.95Bn by 2026 from US$ 7.76 Bn in 2019, at a CAGR of 7.6% during the forecast period.Methodology:The analysis of the report is carried on different primary and secondary data sources.
The primary sources include interviews with many industry analysts, suppliers, distributors, and other including professionals.
The percentage splits, market shares, and breakdowns of the segments are derived based on weightage assigned to each of the segments on their utilization rate and average sale price.After the complete market engineering with calculations for market statistics, market volume estimations, market forecasting, and market breakdown, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at.
Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.Global Environmental Testing Market Dynamics:Growing governmental regulations imposed over the pollution maintenance, waste water limits led to increased investments by the several manufacturing industries in environmental testing services.
are factors expected to support the growth of water segment.To know about the Research Methodology :- Request Free Sample ReportGlobal Environmental Testing Market Regional Insights:North America dominates the market and is expected to maintain its position throughout the forecast period (2020-2026).
Also, an increase in the development of the testing company helps to grow the revenue share of the market.
