Press release
PFAS Testing Market worth $217 million by 2028
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.
PFAS Testing Market [https://www.marketsandmarkets.com/Market-Reports/pfas-testing-market-168277170.html?utm_source=Abnewswire&utm_campaign=Paid&utm_content=Referral] 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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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:
* 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%
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Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Aashish Mehra
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Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pfas-testing-market-168277170.html
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