Growth opportunities and latent adjacency in Environmental Testing Market
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 Account for a Value of USD 12.8 Billion By 2022 Increasing incidences of pollution and wastage in various countries impact the health of citizens. As the need for waste and pollution management persists, manufacturers are increasingly developing effective environmental testing solutions. According to MarketsandMarkets, the environmental testing market is projected to account for a value of USD 12.8 billion by 2022, recording a CAGR of 7.1%.
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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Market Dynamics
Cost and time effective customized testing services is driving the environmental testing market growth.
Regulatory bodies demand regular testing of samples and inspection of the waste that is disposed in the environment. Manufacturing industries and several organizations test these samples to safeguard the environment. As a result, companies conduct regular third-party testing to abide by the regulatory requirements. Companies demand tests that are specific to their samples and meet their requirements and provide time-efficient results. Considering these factors, the need for customized testing was observed in the market. Several analytical laboratories have identified the need for customized testing services and offer testing services for specified client requirements. This helps companies to manage their testing costs and to save time. It also helps the client to obtain accurate data and analytical interpretations, which establishes a long-term relationship between analytical laboratories and companies.
High capital investment for accurate and sensitive analytical testing is restraining growth.
High costs and extensive sample preparation require laboratory analysts to use advanced testing technologies. A wide range of existing testing methods and the introduction of advanced technologies to conduct testing of environmental samples has resulted in an effective change of market dynamics of environmental testing. Advanced technologies such as liquid chromatography (LC), high performance liquid chromatography (HPLC), and spectrometry are sensitive, accurate, and efficient. However, these technologies have limitations of high cost, extensive sample preparation, and calibration issues. A majority of analytical methods are suitable for only certain samples such as soil, water, and effluent while other methods are used for testing samples of air. However, the cost of these tests is very high, leading to the need for higher capital investments, which in turn restrains market growth.
Introduction of Innovative Rapid Technologies.
The technological focus from conventional environmental testing methods such as Biological Oxygen Demand BOD and Chemical Oxygen Demand (COD) has been shifting towards innovative rapid testing methods as they are efficient and generate results within a few hours. Rapid testing methods ensure the analysis of a larger sample size, and thereby reduce the time required for sample testing. Advanced technologies also ensure the detection of microbial as well as chemical contaminants present in the samples even they have very low level of presence. Furthermore, simultaneous detection of all contaminants present in the samples can reduce the number of tests required, thus saving time and cost of each test conducted. The sensitive and accurate time-efficient results obtained through environmental testing have been driving the growth of the environmental testing market will provide growth opportunity.
Lack of basic supporting infrastructure is a major challenge for the environmental testing market.
Testing & certification practices in several developing countries lack organization, sophistication, and technology. The lack of basic supporting infrastructure for setting up testing laboratories acts as a major challenge to the growth of the environmental testing market. Testing services in some areas of developing regions also face the challenge of obtaining samples from manufacturing companies as they are fragmented and dominated by small enterprises.
There are several key issues such as the lack of institutional coordination; shortage of equipment and technical skills & expertise for the implementation of legislation at grass root levels ; and the lack of updated standards, which inhibit the market for environmental testing. Good manufacturing practices (GMP) are required to ensure cooperation between manufacturing companies and government testing services. Lack of these has been acting as a bottleneck in the growth of the environmental testing market. With substantial support from governments, there can be some growth in the environmental testing market majorly in developing regions such as the Asia Pacific and Africa.
Asia Pacific To Record the Fastest Growth in the Environmental Testing Market During the Forecast Period
In parallel with the population growth in various Asia Pacific countries, the number of construction projects has increased. High number of construction projects has led to increased production of various components for residential and commercial buildings, which leads to high emission levels and disposal of wastewater. Due to these factors, Asia Pacific is projected to record the fastest growth in the market during the forecast period.
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Leading players operating in the environmental testing market include Eurofins (Luxembourg), SGS (Switzerland), Intertek (UK), ALS (Australia), and Bureau Veritas (France). Key players operating in this market are adopting strategies such as expansions, joint ventures, new product launches, and acquisitions to expand their customer base.
Overall, the environmental testing market is projected to record significant growth. With the increasing number of construction projects and the imposition of government regulations about low emission levels and waste reduction, the adoption of environmental testing services is projected to remain high. These factors are expected to reflect positively on the market growth.
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