Research Nester has released a report titled “Environmental
Testing Market – Global Demand Analysis
& Opportunity Outlook 2028” which also
includes some of the prominent market analyzing parameters such as industry
growth drivers, restraints, supply and demand risk, market attractiveness,
year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS
analysis, SWOT analysis and Porter’s five force model.
In the
1970s, when the environmental regulations were enacted, there has been a significant concern amongst business organizations for
the impact on their businesses upon the enactment of the act. Over the years,
the enactment has significantly contributed to the improvement in the quality
of air and water and has provided greater authority to the government to
control and restrict environmental pollution. Moreover, with the development of
control indexes, such as the Environmental Democracy Index (EDI), it is now
possible to understand and track the progress of nations on the action they
take for the environment, which on the other hand is also raising the awareness
amongst individuals of the nation to keep the environment clean. Further, the
increasing concern for health led by the impact of environmental pollution is
also raising the need for environmental testing, which in turn is anticipated
to drive the growth of the market in the coming years.
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The global environmental testing market is anticipated
to achieve a CAGR of 7.07% across the globe during the forecast period, i.e.
2020-2028 owing to the increasing focus towards rapid testing methods in
comparison to conventional testing methods, growing adoption of business
intelligence tools to save costs, increasing advancements in environmental
testing technologies, and the increasing awareness for the environment.
Additionally, the market is also expected to grow up to USD 16914.36 million by
the end of 2028 from a value of USD 9146.30 million in the year 2019.
“The
Final Report will cover the impact analysis of COVID-19 on this industry.”
The global environmental testing market is segmented
by product
into bio-testing/pathogen testing, mass spectrometers, chromatography products,
molecular spectroscopy products, toc analyzers, dissolved oxygen analyzers and
others. Among these segments, the bio-testing/pathogen testing segment
registered the largest market share of 27.62% in the year 2019 and is
anticipated to gain an incremental $ opportunity of USD 181.01 million in the
year 2020 as compared to the previous year. Factors such as the need to
determine the sanitation effectiveness throughout the production of environment
products is anticipated to drive the growth of the segment in the global
environmental testing market during the forecast period.
Geographically, the global environmental testing
market is segmented into five major regions including North America,
Latin America, Europe, Asia Pacific, Middle East and Africa. Among these
regions, the market in North America registered the largest market share of
30.94% in the year 2019 on the back of growing awareness for the environment
amongst individuals, private and public institutions, increasing number of
environment regulatory bodies, increasing number of manufacturing industries, growing
government participation to regulate environmental testing, and increasing
pollution amongst others. The North America environmental testing market is
further anticipated to gain an absolute $ opportunity of USD 943.23 million by
growing at 1.7x during the forecast period.
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Report: https://www.researchnester.com/sample-request-2713
However, concerns for the high cost of equipment such
as RT-PCR testing, mass spectrometers and molecular spectroscopy products, that
are required by laboratory analysts for undergoing the tests, and the high cost
of test, are anticipated to hamper the market growth in the coming years.
This
report also studies existing competitive scenario of some of the key players of
the global environmental testing market, which includes profiling of Intertek
Group PLC (LON: ITRK), bioMérieux SA (EPA: BIM), Eurofins Scientific (EPA: ERF),
Microbac Laboratories, Inc., R J Hill Laboratories Limited, Symbio
Laboratories, SGS SA (SWX: SGSN), AB Sciex Pte. Ltd., and Suburban Testing Labs.
The
profiling enfolds key information of the companies which comprises of business
overview, products and services, key financials and recent news and
developments. Conclusively, the report titled “Environmental Testing Market – Global Demand Analysis &
Opportunity Outlook 2028”, analyses the overall environmental
testing industry to help new entrants to understand
the details of the market. In addition to that, this report also guides
existing players looking for expansion and major investors looking for
investment in the global environmental testing market in the near future.
Read More Information@ https://www.researchnester.com/reports/environmental-testing-market/2713
About Research
Nester
Research
Nester is a leading service provider for strategic market research and
consulting. We aim to provide unbiased, unparalleled market insights and
industry analysis to help industries, conglomerates and executives to take wise
decisions for their future marketing strategy, expansion and investment, etc.
We believe every business can expand to its new horizon, provided a right
guidance at a right time is available through strategic minds. Our out of box
thinking helps our clients to take wise decision so as to avoid future
uncertainties.
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