According to MarketsandMarkets, the global environmental testing market size is estimated to be valued at USD 8.3 billion in 2020 and projected to reach USD 12.1 billion by 2025, recording a CAGR of 7.9% in terms of value. Emerging markets in upcoming economies such as the Asia Pacific and South American countries are going to be potential markets for the environmental testing players. The increase in environmental awareness and introduction of stringent rules and regulations are poised to increase the share of the market. These factors are projected to drive the growth of the environmental testings market during the forecast period.
North America is the dominating market for Environmental testing as it is crucial in present scenarios of industrialization, where the prevalence of contaminants and pollutants is high. Government and non-government agencies have laid down stringent plans for markets, which the organizations have to adhere to in every possible sector. The increase in demand for resources, such as drinking water, building material, and fuel is on its peak. As a result, the need for environmental testing services and certification is dominating in the region.
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The presence of various environmental governing organizations in the US is driving the growth of the environmental testing market through the implementation of various environmental protection policies. The number of testing laboratories has doubled in the major regions, such as North America and Europe, in the last few years, aiming to safeguard the environment. The regulatory bodies in the regions are closely monitoring the safety and quality of the environment to establish environmental safety across the geographies.
Wastewater/effluent is the dominating sample segment for environmental testing market. Since a lot of wastewater/effluent is generated by all industrialization process in the developed economy of North America, the government encourages the wastewater recycling to meet the increasing water demand. Therefore, the region is a dominant market for testing of wastewater/effluent.
Water is the fastest growing sample segment of environmental testing market. A wide range of testing is provided by the environmental testing firms to analyze and certify water for different purposes, such as groundwater, wastewater, and drinking water. The testing companies look for aquatic toxicity, the presence of harmful microorganisms, and various unwanted organic and inorganic compounds in the water, which can be harmful to the consumption or environment
Asia Pacific is projected to witness the fastest growth in the environmental testing market during the forecast period .The market in Asia Pacific is primarily driven by infrastructure developments, such as construction and energy-related projects, industrial development, growth in awareness regarding environmental pollution, and sustainable transformation of environmental policies.
Rapid tests segment are dominating segment by technology. These tests are more sophisticated than conventional methods and provide more accurate results. Their use avoids human contact, which reduces the possibility of contamination of the sample. With the increase in the pollutants and improper management of waste, the resources are getting affected more easily. Therefore, fast analytical methods are needed more than ever. The results must be reliable, accurate, and meaningful for the authorities to take further steps. Therefore they are more popular than the conventional method.
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Organic compounds is the dominating target tested segment for environmental testing market.Organic waste is created due to the high disposal of wastes from hospitals, households, and industries. The improper treatment of organic waste produces health hazards to the public. Domestic and medical waste is released in the water bodies, which causes the contamination of such natural resources. This has led the organic compounds segment to dominate the environmental testing market, by targets tested.
