CHICAGO, Dec. 11, 2023 /PRNewswire/ -- PFAS Testing Market in terms of revenue was estimated to be worth $63 million in 2023 and is poised to reach $121 million by 2028, growing at a CAGR of 14.0% from 2023 to 2028 according to a new report by MarketsandMarkets. Factors such as increasing funding for wastewater treatment projects/programs and increasing efforts to raise awareness for PFAS testing for environmental protection are high growth prospects for the PFAS testing market during the forecast period.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=168277170
Browse in-depth TOC on "PFAS Testing Market"
150 - Tables
50 - Figures
180 - Pages
PFAS Testing Market Scope:
Report Coverage |
Details |
Market Revenue in 2023 |
$63 million |
Estimated Value by 2028 |
$121 million |
Growth Rate |
Poised to grow at a CAGR of 14.0% |
Market Size Available for |
2021–2028 |
Forecast Period |
2023–2028 |
Forecast Units |
Value (USD Million) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Consumable Type, Technique, Analyte Type, Application, and Region |
Geographies Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Report Highlights |
Updated financial information / product portfolio of players |
Key Market Opportunities |
Regulatory agencies to control environmental pollution due to PFAS contamination |
Key Market Drivers |
Greater regulatory emphasis on effective pollution monitoring and control |
The LC-MS-MS segment is to register a significant growth rate over the forecast period of 2023-2028.
Based on the technique, over the forecast period of 2023-2028, the LC-MS-MS segment is to register a significant growth rate. The key factor encouraging the growth of this segment during the forecast period is the broad applicability of LC-MS-MS for testing of various applications such as environmental, food, and biofluids testing, rising number of contract testing labs using LC-MS-MS coupled with higher outsourcing from govt and industrial facilities for wastewater and potable water.
The drinking water standards segment accounted for the largest share of PFAS testing in 2023-2028.
Based on application, the drinking water segment is estimated to hold the largest market share of the PFAS testing market during the forecast period. Increased regulations and legislations set forth by government organizations have triggered the drinking water testing, inspection, and certification of water samples by governments and manufacturing companies lead to a large share of this segment.
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2023, Asia Pacific is expected to register the highest CAGR in the market for PFAS testing during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as the increasing government emphasis on the strict implementation of pollution control strategies, rapid and large-scale industrialization, increasingly stringent environmental regulation policies, and the growing need to comply with safety regulations are driving the growth of the APAC PFAS testing market during the forecast period.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=168277170
PFAS Testing Market Dynamics:
Drivers:
1. Greater regulatory emphasis on effective pollution monitoring and control
Restraints:
1. Stringent storage requirements for PFAS testing reagents and analytical standards
Opportunities:
1. Regulatory agencies to control environmental pollution due to PFAS contamination
Challenge:
1. Inadequate supporting infrastructure and the shortage of skilled professionals
Key Market Players of PFAS Testing Industry:
As of 2022, prominent players in PFAS testing are Merck KGaA (Germany), Agilent Technologies (US), LGC Limited (UK), Waters Corporation (US), Biotage (Sweden), AccuStandard, Inc. (US), PerkinElmer, Inc. (US), Thermo Fisher Scientific, Inc. (US), Phenomenex (US), MACHEREY-NAGEL GmbH & Co. KG (Germany), and Shimadzu Corporation (Japan), among others.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1–25%, Tier 2–30%, and Tier 3– 45%
- By Designation: Director-level–30%, C-level–23%, and Others–47%
- By Region: North America–40%, Europe–30%, Asia Pacific–22%, Latin America- 6%, MEA- 2%
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=168277170
PFAS Testing Market Recent Developments:
- In August 2022, Agilent Technologies, Inc. plans to invest $20 million to expand its Shanghai manufacturing center to meet growing demand in China for the company's advanced liquid chromatography (LC), spectrometer, and mass spectroscopy (MS) systems.
- In June 2022, MACHEREY-NAGEL GmbH & Co. KG introduced NUCLEODUR PFAS and PFAS Delay, HPLC columns for the analysis of per- and polyfluoroalkyl substances (PFAS).
- In September 2020, Waters Corporation established its Innovation and Research Laboratory in Massachusetts (US). For the innovation of analytical instruments and their consumables, which will strengthen the product portfolio of analytical products and consumables of Waters Corporation.
PFAS Testing Market - Key Benefits of Buying the Report:
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
- Analysis of key drivers (rising levels of environmental pollution worldwide, increasing efforts from public-private organizations to raise awareness on environment protection, privatization of environmental testing and treatment services, increasing funding activities on wastewater treatment projects/programs, greater regulatory emphasis on effective pollution monitoring and control, and government initiatives for pollution control and environmental testing), restraints (limited public awareness related to effective pollution monitoring strategies across developing markets, stringent storage requirements for PFAS testing reagents and analytical standards, and high capital investments for accurate and sensitive analytical testing), opportunities (regulatory agencies to control environmental pollution due to PFAS contamination and growth potential offered by emerging markets), and challenges (inadequate supporting infrastructure and the shortage of skilled professionals and lack of proper approved laboratory methods for PFAS testing other than drinking water) influencing the growth of the PFAS testing market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the PFAS testing market
- Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the PFAS testing market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the PFAS testing market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
Related Reports:
Continuous Bioprocessing Market - Global Forecasts to 2028
Research Antibodies & Reagents Market - Global Forecasts to 2028
Therapeutic Drug Monitoring Market - Global Forecasts to 2027
Environmental Testing Equipment Market - Global Forecasts to 2027
Chromatography Instruments Market - Global Forecasts to 2025
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/pfas-testing-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/pfas-testing.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
Share this article