The environmental testing market was valued at USD 8.47 Billion in 2016 and is projected to reach 12.75 Billion by 2022, at a CAGR of 7.1% during the forecast period.
Seattle, WA -- (SBWIRE) -- 11/02/2017 -- The report "Environmental Testing Market by Sample (Wastewater/Effluent, Soil, Water, and Air), Contaminant (Microbes, Organic Compounds, Heavy Metals, Residues, and Solids), Technology (Conventional and Rapid) and Region - Global Forecast to 2022", The environmental testing market is projected to reach USD 12.75 Billion by 2022 from USD 9.03 Billion in 2017, at a CAGR of 7.1% from 2017. The market is driven by increasing regulations on environment protection, privatization of environmental testing services, and active participation of different government and regulatory bodies to monitor environmental conditions. High capital investment for accurate and sensitive analytical testing is the major factor restraining growth in this market
Browse 82 Market Data Tables and 38 Figures spread through 184 Pages and in-depth TOC on "Environmental Testing Market - Global Forecast to 2022"
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Water testing segment is projected to be the fastest-growing during the forecast period
The market for water testing is projected to be the fastest-growing, by type, from 2017 to 2022. Water testing has become an important area because of the disposal of industrial effluents into water bodies and rise in concerns about water degradation, thereby prompting government regulations to tackle this issue. Also, water contamination is linked to the spread of diseases such as cholera, diarrhea, dysentery, hepatitis A, typhoid, and polio due to which significant emphasis is being laid on water testing.
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Rapid technology is projected to be the fastest-growing segment during the forecast period
Rapid technology is projected to be the fastest-growing segment during the forecast period due to its low turnaround time, higher accuracy, sensitivity, and ability to test a wide range of contaminants in comparison to conventional technology. Also, the availability of rapid testing methods such as PCR, ELISA, spectrometry, and chromatography has reduced the overall cost of determination. Every year, heavy investments are made in laboratory testing, environment protection & treatment, equipment, conveyances, leading-edge technology, and research & development.
Asia Pacific is projected to be the fastest-growing market during the forecast period
The market in the Asia Pacific region is driven by infrastructure development such as construction and energy-related projects, growing awareness regarding environmental pollution, and sustainable transformation of environmental policies.
The death toll due to the unhealthy environment is high in developing Asian countries such as India and China, compared to developed countries, due to which the governments in these countries understand the importance of environmental protection and preservation, and have passed various regulations, which require the services of environmental testing companies, thereby, boosting the high growth of the environmental testing market in the region.
This report includes a study of marketing and development strategies, along with the service portfolios of leading companies. It also includes the profiles of leading companies such as SGS (Switzerland), Eurofins (Luxembourg), Intertek (UK), Bureau Veritas (France), and ALS (Australia), among others.
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