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Ecotoxicological Studies Market Size, Growth, Drivers, Trends Report To 2024-2033
Ecotoxicological Studies Market Size
According to The Business Research Company's, The ecotoxicological studies market size has grown strongly in recent years. It will grow from $1.79 billion in 2023 to $1.90 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to the increased number of chemicals, growing population, increased urbanization and industrialization, increased use of antimicrobial surface coatings, and increased use of pesticides.
The ecotoxicological studies market size is expected to see strong growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing concerns about the environmental impact, increased focus on nanotoxicology, rise of citizen science initiatives, focus on ecosystem-level impacts, and demand for testing services. Major trends in the forecast period include advances in ecological modeling, advancements in analytical techniques, mass spectrometry, biomarker assays, and the development of environmental toxicology.
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Market Drivers and Trends:
Increasing water pollution is expected to propel the growth of the ecotoxicological studies market going forward. Water pollution is the contamination of water bodies, such as lakes, rivers, oceans, and groundwater, by harmful substances or pollutants, leading to adverse effects on human health, aquatic ecosystems, and the environment. There is increasing water pollution due to several factors, such as industrial discharge, agricultural runoff containing pesticides and fertilizers, improper disposal of waste, urbanization leading to sewage contamination, and oil spills. Ecotoxicological studies are used for evaluating the toxicity of pollutants, such as chemicals, heavy metals, and other contaminants, on various organisms within aquatic environments to develop effective pollution control measures to mitigate the adverse effects of water pollution. For instance, in September 2023, according to the World Health Organization (WHO), a Switzerland-based agency for global health and safety, a minimum of 1.7 billion individuals globally rely on a drinking water source tainted with fecal contamination in the year 2022. Furthermore, in March 2021, according to the United Nations Environment Programme (UNEP), a Kenya-based environmental authority, globally, the health of over 3 billion people is at risk of disease due to inadequate data on the water quality of their rivers, lakes, and groundwater. Therefore, increasing water pollution is driving the ecotoxicological studies market.
Major companies operating in the ecotoxicological studies market are focused on developing innovative tools, such as environmental software, to improve risk assessments and provide more accurate predictions of the effects of chemicals on ecosystems. Environmental software refers to specialized tools designed to analyze the effects of chemicals on ecosystems and organisms. It plays a crucial role in ecotoxicological studies by providing tools and platforms to model, analyze, and predict the effects of pollutants on ecosystems and their components. For instance, in April 2023, Ricardo, a UK-based strategic environmental and engineering consulting company, launched the Persistence Assessment Tool, the world's first tool to improve the assessment of chemical persistence for environmental safety. This software aids in navigating complex regulations and increasing demands for chemical biodegradation testing. It provides a structured methodology, ensuring transparency and reliability in assessments and filling critical gaps in guidance.
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Major Key Players of the Market:
AECOM, Laboratory Corporation of America Holdings (LabCorp), Eurofins Scientific SE, SGS SA, Bureau Veritas SA, Arcadis, Charles River Laboratories Inc., Intertek Group PLC, Ramboll Group AS, ALS Global Limited, Aragen Life Sciences Pvt. Ltd., SynTech Research Group, Fera Science Limited, Staphyt Ltd., JRF International Ltd., Gradient Corporation, EnviroScience Inc., ibacon GmbH, Vivotecnia, Noack Laboratorien GmbH, TSG Consulting, Techtron Ltd., Aqua Survey Inc., AquaTox Testing & Consulting Inc, EA Engineering, Science, and Technology Inc, The Smithers Group Inc
Ecotoxicological Studies Market 2024 Key Insights:
• The ecotoxicological studies market size is expected to see strong growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Increasing Water Pollution Growth In Ecotoxicological Studies
• Innovative Environmental Software Enhances Ecotoxicological Risk Assessments
• Europe was the largest region in the ecotoxicological studies market in 2023
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