Stringent Environment Protection Mandates Paves Way for Growth in Environment Testing Services Market, Market projected to Rise at Stellar 6.5% CAGR from 2020 - 2030: TMR

- Institutional participation from government bodies as well as private enterprises to work in a consortium model garners third-party investments

- Integration of cutting-edge technology with conventional testing methodologies expands growth horizon

ALBANY, N.Y., March 9, 2021 /PRNewswire/ -- Over the past decade, environment protection and safety have garnered considerable attention and the trend is set to continue to gain momentum across industrial and commercial sectors in the forthcoming years. Increasing government initiatives, rising awareness of the negative impact of industrial chemicals on the environment, and stringent environment protection statutes have necessitated the development of committed environment testing services to monitor environment protection at various fronts.

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To attain environment protection goals, besides government agencies, several semi-government and private enterprises have entered the environment testing services fray. This scale of institutional participation, new environment protection policies in place, and regulatory frameworks have drawn attention of authorities and environment protectionists to create a consortium for environment testing services. With the backing of world environment protection bodies high ROI on environment testing services has garnered the interest of private and non-private entities to invest in this domain. Consequently, environment testing services has evolved as a billion dollar market, which with continued support is predicted to touch the US$ 21.4 bn mark by 2030-end.

Key Findings of Environment Testing Services Market Report

Close Monitoring to Measure Volume of Hazardous Waste from Industries Secures Growth

Large volume outflow of hazardous waste and contaminated water from industries has gathered the attention of environment protection agencies to closely monitor the residues. Environment protection agencies and environment departments are adopting tools to measure hazardous residue from industries. To facilitate the process, several technology companies are joining hands to integrate cutting-edge technology in the larger interest of environment protection goals, which indirectly benefits the environment testing services market.

Increasing need for the adoption of wastewater treatment services and water quality assessment services in the agriculture sector which is in the scope of environment testing services adds extra stars of growth to the said market.

Furthermore, the advent of new technologies in wastewater testing has served to address shortcomings of predecessor technologies. New biosensors and physiochemical sensors enable to monitor parameters from other categories of wastewater treatment such as trace analysis, RoHS testing, scientific assessments, REACH testing, hazardous material testing, and soil testing. Thus, with the adoption of novel technologies in wastewater treatment services under the umbrella of environment testing services – the environment testing services market is at gains.

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Need to Clean Large Volume Clinical Waste amidst COVID-19 extends Growth Opportunities

Amidst COVID-19, several tons of clinical waste disposed on a daily basis amounts to huge burden on sanitation departments in several parts of the world. Clinical waste associated with the pandemic include non-reusable surgical masks, solid tissue paper, and empty hand sanitizer bottles that carries the risk of transmitting the deadly virus at disposal sites has caught the attention of environmentalists and environment protection agencies. Due to intense nature of handling clinical waste of thousands of patients each day, and testing of the massive volume of clinical waste is a herculean task – healthcare institutions serving COVID-1P patients are outsourcing the work of testing the surroundings to environment testing agencies. This is creating opportunities in the environment testing services market. 

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Environment Testing Services Market – Growth Drivers

• Stringent environment protection mandates to closely monitor volume of hazardous waste from industries spells growth.
• High risk of transmission of SARS-CoV-2 of COVID-19 via clinical waste at disposal sites that necessitates testing of the surroundings creates opportunities.

Environment Testing Services Market – Key Players

• SGS SA
• Eurofins Scientific SE
• ALS Limited
• Thermo Fischer Scientific Inc.
• Symbio Laboratories
• Merieux NutriSciences
• RJ Hill Laboratories Limited
• Element Materials Technology Ltd
• Analytica Laboratories Limited
• Asure Quality Limited
• ULL LC
• Micrbac Laboratories Inc.
• Intertek Group Plc.
• Bureau Veritas S.A.
• Covance Inc.

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