Global Environmental Testing Market to Reach $11.7 Billion by 2026

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Mar 23, 2022, 03:05 ET

SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Environmental Testing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Environmental Testing Market to Reach $11.7 Billion by 2026

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Edition: 21; Released: February 2022
Executive Engagements: 5807
Companies: 60 - Players covered include AB Sciex LLC ; Alex Stewart International; ALS Limited ; Bureau Veritas S.A.; Eurofins Scientific S.E.; Intertek Group plc.; Mérieux NutriSciences ; Microbac Laboratories, Inc. ; SGS SA; and Others.
Coverage: All major geographies and key segments
Segments: Sample (Wastewater/Effluent, Soil, Water, Air, Other Samples); Technology (Rapid, Conventional); Contaminant (Organic Compounds, Microbial Contamination, Heavy Metals, Residues, Solids)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Environmental Testing Market to Reach $11.7 Billion by 2026
Environmental testing involves the analysis of air, water and soil to assess their quality and impact on health and ecological environment. Environmental testing continues to be an integral part of efforts intended to discourage local and regional air, water and land pollution. Rising concerns over food, air, and water safety and tightening environmental regulations globally continue to increase the need for testing of contaminants, thereby creating strong demand for Environmental Diagnostics. Also driving growth is the increasing list of products recognized as toxic as part of environmental monitoring regulations. Changing international environmental policies and the increased need to comply with various environmental safety regulations play a significant role in preventing outbreak of environment associated illnesses and threats. With governments, industrial enterprises and general population becoming more engaged in environmental issues, the role and importance of environmental testing is taking center stage. An increase in outsourcing of tasks such as environmental monitoring, testing and analysis by enterprises aimed at improving their environmental footprint to specialists also auger well for market growth. The market is also bolstered by increasing industrialization across regions like Asia-Pacific and Africa. The situation is driving governments to implement environmental-protection acts and amend environmental safety laws. These efforts are augmenting the demand for environmental testing across developing countries in the Asia-Pacific region. The market is poised to also gain from continuing development of sophisticated testing techniques for contaminants like pesticide residues, organic chemicals and heavy metals.

Amid the COVID-19 crisis, the global market for Environmental Testing estimated at US$8.7 Billion in the year 2022, is projected to reach a revised size of US$11.7 Billion by 2026, growing at a CAGR of 7% over the analysis period. Wastewater/Effluent, one of the segments analyzed in the report, is projected to grow at a 8% CAGR to reach US$6.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Soil segment is readjusted to a revised 6.5% CAGR for the next 7-year period. This segment currently accounts for a 27.7% share of the global Environmental Testing market. As an effective epidemiological tool, wastewater-based epidemiology is expected to play a significant part in mitigating the COVID-19 outbreak and minimizing associated domino effects like economic stress and impact on people. Testing wastewater for traces of COVID-19 virus provides an early warning and allows timely interventions. Soil testing involves analysis of soil sample to estimate the concentration of plant nutrients to determine nitrogen fertilizer addition in agriculture, or to determine the presence of trace elements such as potassium, magnesium, and calcium for plant growth and also detection of potential heavy metal contamination for or ecological investigations.

The U.S. Market is Estimated at $3.2 Billion in 2022, While China is Forecast to Reach $952.3 Million by 2026
The Environmental Testing market in the U.S. is estimated at US$3.2 Billion in the year 2022. The country currently accounts for a 37.18% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$952.3 Million in the year 2026 trailing a CAGR of 10% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$1 Billion by the end of the analysis period. North America along with Europe is anticipated to remain at the forefront of environmental testing due to high level of awareness and the robust laboratory infrastructure. Stringent regulations with strong focus on sustainable development are expected to drive the market. In addition, testing laboratories are sprouting in the region and support efforts to maintain the environment. Important factors benefiting the environment testing market in developing countries include rising levels of pollution driven by growing population, industrialization and urbanization, underpenetrated and unpenetrated nature of the market, and growing consumer awareness levels of water, air, and food contamination. Also the expanding middle class income group is driving gains in the market, as higher incomes is leading to increased expenditure on high-quality and safe consumption, fueling increased demand for pathogen testing.

By Sample Type, Water Segment to Reach $1.8 Billion by 2026
Water testing plays a major role in determining the quality of the end product in several industries. Testing is important not just for drinking water supplies, but also for environmental waters. Strict regulations enforced on pharmaceutical, environmental, and food sector are encouraging companies from various industries to employ instruments that monitor and control water quality to ensure safety and compliance with set standards. The need to measure as well as control water quality for domestic and industrial uses to address increasingly stringent environment regulations is the overarching driver of the market for water analysis instrumentation. In the global Water segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$80.1 Million by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period. More

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