The Environmental Testing Market 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 according to a new report by MarketsandMarkets™.
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 organizations across the globe.
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 samples. Hence, conventional Immunoassay -based tests are being dominated by new technology. As a result, industries have been opting for rapid technology for immunoassay.
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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 the growth of the market for environmental testing in the US.
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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