The report "Environmental Testing Market by Sample (Wastewater/Effluents,Soil, Water, Air),Technology (Rapid, Conventional),Target Tested (Microbial Contamination, Organic Compounds, Heavy Metals, Residues, Solids), End User, And Region - Global Forecast To 2025", is estimated to be valued at USD 8,298.5 million in 2020 and is projected to reach USD 12,111.3 million by 2025 at a CAGR of 7.9%. Environmental testing is crucial in present scenarios of industrialization, where the prevalence of contaminants and pollutants is high. Government and non-government agencies have laid down stringent plans for markets, which the organizations have to adhere to in every possible sector. The increase in demand for resources, such as drinking water, building material, and fuel is on its peak. As a result, the need for environmental testing services and certification is rising as well.
Browse 114 Market Data Tables and 48 Figures spread through 218 Pages and in-depth TOC on "Environmental Testing Market by Sample (Wastewater/Effluents,Soil, Water, Air),Technology (Rapid, Conventional),Target Tested (Microbial Contamination, Organic Compounds, Heavy Metals, Residues, Solids), End User, And Region - Global Forecast To 2025"
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Growing need for cost-saving and time-effective customized testing services
Regulatory bodies demand regular testing of samples and inspection of the waste that is disposed of in the environment. Manufacturing industries and several organizations test these samples to safeguard the environment. Environmental testing is important for many different reasons. First of all, the company wants to know the longevity of its product, and how to increase it to satisfy its customers fully. As a result, companies conduct regular third-party testing to stand by the regulatory requirements.
Companies demand tests that are specific to their samples and meet their requirements and provide time-efficient results. Hence, several analytical laboratories have identified the need for customized testing services and offer testing services as per the client requirements. This helps the companies to manage their testing costs and to save time. It also helps the clients to obtain accurate data and analytical understandings, which establishes a long-term relationship between analytical laboratories and companies. Environmental testing labs have an important function in giving manufacturers important information regarding their products and how they perform in certain conditions. Considering these factors, the need for customized testing was observed in the market. The quality of soil and water is being tested by the majority of companies before making a major land and/or facility purchase. Hence, the services offered by testing laboratories are often of great usefulness to businesses in a wide range of industry sectors.
Active participation of government and regulatory bodies to monitor environmental conditions
To reduce pollution across various sectors, different government and regulatory bodies began actively participating in environmental monitoring. The Global Environment Fund (GEF), an international investment company, has invested USD 1.0 billion in companies operating in high-growth clean energy, energy and resource efficiency, environmental quality, and sustainable natural resource management industries. Regulatory bodies that actively participate in environmental protection and monitoring are mentioned in the below table. These organizations continuously monitor the environment and report any changes that are being observed. Regular tests are being conducted on different environmental samples, which is driving the market growth for environmental testing.
Stringent government rules and norms driving the market
Before a product is launched in the market, it has to go through several tests to see whether it complies with the existing norms laid down by the government and various national and international bodies. Before a product is launched, some stringent regulations are to be complied with.
With the increasing number of imports and exports across the globe, demand for inspection, testing, and certification services will continue to increase in the coming future. Therefore, products need to be inspected, tested, and certified before they are imported from the producing countries. An increase in the number of imports from the developing countries is expected to fuel the demand for inspecting, testing, and certifying products. Given below are various reasons why testing for a product becomes essential.
North America is projected to reach USD 12,111.3 million during the forecast period.
The numerous initiatives by the authoritative bodies in North American countries are the key factors driving market growth. Environmental conditions in the US have improved over time. The environmental testing laboratories in Canada are continuously working to improve the quality of air and the continuous funding by the Mexican government to ensure the treatment of wastewater is expected to drive the market in North America.
The US is a highly developed environmental testing market and is projected to account for the largest share during the forecast period.
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