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Classified in: Environment, Health, Science and technology
Subject: MRR

PFAS Testing Market Worth $121 Million | MarketsandMarkets


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.

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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.

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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:

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PFAS Testing Market Recent Developments:

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:

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

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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.

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SOURCE MarketsandMarkets


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