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Environmental Testing Market Projected to Garner Significant Revenues by 2022

(Food-Beverage-News.Com, January 30, 2020 ) Increasing regulations pertaining to environment protection, cost- & time-effective customized testing services, and active participation of government and regulatory bodies to monitor environmental conditions are factors driving the environmental testing market. This market is projected to reach USD 12.75 billion by 2022, at a CAGR of 7.1% from 2017.



On the basis of sample, the water segment is projected to grow at the highest rate from 2017 to 2022. Water testing has become an important sector because of the disposal of industrial effluents into water bodies and rise in concerns about water degradation, thereby prompting government regulations to tackle this problem. Also, water contamination is linked to the spread of diseases such as cholera, diarrhea, dysentery, hepatitis A, typhoid, and polio.



On the basis of contaminant, the organic segment is projected to be the fastest growing. Economically motivated adulteration, poor storage hygiene, faulty supply chains, and contaminated equipment have led to milk being contaminated, consumption of which can cause serious health problems to humans. Due to this, testing of milk & milk powder is projected to be the fastest-growing segment.



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By technology, the market for rapid technology is projected to be the fastest growing owing to its high level of emissions and sustained growth in consumption, mainly of hydrocarbons. They are also known to cause serious illnesses such as cancer, kidney damage, and liver damage.

Asia Pacific is projected to be the fastest-growing regional market for environment testing from 2017 to 2022. This growth is attributed to infrastructure development such as construction and energy-related projects, growing awareness regarding environmental pollution, and sustainable transformation of environmental policies.



Wide-scale adoption of advanced technologies is an opportunity for medium- and small-scale laboratories to expand their service offerings and compete with large players in the environment testing market, as these technologies offer higher sensitivity, accuracy in results, reliability, multi-contaminant, and non-targeted screening with low turnaround time, among other benefits.



The environment testing industry is experiencing technological innovations as major players are offering new, fast, and more accurate technologies such as LC (Liquid Chromatography), HPLC (High Performance Liquid Chromatography), and ICP-MS (Inductively Coupled Plasma Mass Spectrometry). Investing in untapped environment markets with future growth potential—such as Southeast Asian countries—through expansions and establishment of labs is also an opportunity for market players.



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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.





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raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com
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