Environmental Testing Market Size

Environmental Testing Market size was over USD 11.76 billion in 2023 and is projected to reach USD 30.85 billion by 2036, growing at around 7.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of environmental testing is assessed at USD 12.48 billion.

In recent years, environmental testing has changed drastically owing to the recent development in technology and innovation in products. New products have been launched in the market which are used in environment testing such as digital lux meters, laser distance meter, refractometers and electrosmog meter among others. 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 if 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.

Additionally, companies are shifting priorities by using business intelligence to not only save on costs but to also become environmentally aware. Business intelligence’s ability to keep track of performance, as well as alert decision makers on behavioural changes, make it a complementary approach as demonstrated by the desire by many companies to become more eco-friendly. Increasing advancements in computers and computer software are also profoundly affecting the laboratory industry. However, it has been observed that the environmental lab business and instrumentation suppliers have been relatively slow in advancing towards computational power. Individual lab instruments have possessed computer control and data collection capabilities for large time thereby reducing costs and boost operating efficiencies. Such factors are anticipated to promote the growth of the global environmental testing market in the recent years.