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(HomeGarden247.com, November 25, 2022 ) According to a research report "Environmental Testing Market by Sample (Wastewater/Effluent, Soil, Water, Air), Technology (Rapid, conventional), Target Tested (Microbial Contamination, Organic Compounds, Heavy Metals, Residues, Solids), End Users and Region - Global Forecast to 2027" published by MarketsandMarkets, the market for Environmental testing is estimated at USD 9.4 billion in 2022; it is projected to grow at a CAGR of 8.1% to reach USD 13.9 billion by 2027.
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The importance of environmental testing is rising as a result of growing public awareness in environmental issues, as well as the ability to broadcast these issues quickly via social media and the increasing regulations by various government organization across the globe.
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.
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 require 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.
The US was the dominating market in the North American region, with the highest CAGR growth in the environmental testing market.
The US economy has experienced rapid growth during the past decade. Population increase and energy consumption can lead to environmental contamination. As a result, the US government has implemented strict environmental standards and policies. These factors are driving as the growth of the market for environmental testing in US.
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Key Market Players
The Environmental testing market consists of a few globally established players such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS (Australia), TÜV SÜD (Germany), TÜV Nord Group (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. These companies have a strong presence in North America, Asia Pacific and Europe. They also have strong laboratory networks across these regions.
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