Press release
PFAS Testing Market CAGR To Reach 11.1% by 2040, Due to the Increasing Awareness and Development of Innovative Technological Solutions | Roots Analysis
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The PFAS testing companies offer their solutions to a diverse array of end-users (including pharmaceutical companies, environmental scientists, research institutes, government agencies, testing laboratories and other end-users) providing testing service in the form of quantification, screening and extraction, following different regulatory standards such as, EPA / USEPA, ISO, ASTM, DIN and other methods / testing Standards. However, the testing for PFAS is hindered due to various challenges, including high cost of testing and technologies, lack of skilled workforce, and limited detection of PFAS analytes. To successfully navigate these challenges and seize the market opportunities at hand, the PFAS testing companies must follow new innovative methodologies and opt for technological advancements for efficient results to stay ahead in the market. As the market continues to evolve, we can expect to see continued innovation in the PFAS testing domain.
PFAS Testing Market Segments
Based on the type of sample tested, the market is segmented into water testing, soil testing, food and beverages testing, blood / serum / plasma testing and air testing
1. The water sample testing segment led the PFAS testing market, capturing the largest revenue share of 40% in the PFAS testing market, in the current year.
2. The food and beverages testing segment is anticipated to show an annual growth rate of 11.6%, during the forecast period.
Based on type of testing service offered, the market is segmented into quantification, screening and extraction
1. The quantification testing service segment led the PFAS testing market, capturing the largest revenue share (40%) in the current year.
2. The quantification testing service segment is anticipated to show an annual growth rate of 11.5%, during the forecast period.
Based on the type of PFAS analyte tested, the market is segmented into the perfluorooctanoic acid, perfluorooctane sulfonic acid, perfluorohexane sulfonate acid, perfluorononanoic acid and other analytes
1. The perfluorooctanoic acid segment led the PFAS testing market, capturing the largest revenue share (35%) in the current year.
2. The perfluorohexane sulfonate segment is anticipated to show an annual growth rate of 12.5%, during the forecast period.
Based on the method / testing standard, the market is segmented into the Environmental Protection Agency / United States Environmental Protection Agency (EPA / USEPA), International Organization for Standardization (ISO), The American Society for Testing and Materials (ASTM), Deutsches Institut für Normung (DIN) and other testing methods / standards
1. The Environmental Protection Agency / United States Environmental Protection Agency (EPA / USEPA) segment led the PFAS testing market, capturing the largest revenue share (more than 35%) in the current year.
2. The Environmental Protection Agency / United States Environmental Protection Agency (EPA / USEPA) segment is anticipated to show an annual growth rate of 11.5%, during the forecast period.
Based on the type of technology, the market is segmented into the Liquid Chromatography-Mass Spectrometry (LC-MS), Gas Chromatography Mass Spectrometry (GC-MS), Enzyme-Linked Immunosorbent Assay (ELISA), Nuclear Magnetic Resonance (NMR) and other technologies
1. The Liquid Chromatography-Mass Spectrometry (LC-MS) segment led the PFAS testing market, capturing the largest revenue share (55%) in the current year.
2. The Gas Chromatography Mass Spectrometry (GC-MS) segment is anticipated to show an annual growth rate of 11.5%, during the forecast period.
Based on the end-user, the market is segmented into pharmaceutical companies, environmental scientists, research institutes, government agencies, testing laboratories and other end-users.
1. The pharmaceutical companies segment led the PFAS testing market, capturing the largest revenue share (40%) in the current year.
2. The pharmaceutical companies segment is anticipated to show an annual growth rate of 11.3%, during the forecast period.
Based on the regional insights, the market is segmented into North America, Europe, Asia Pacific, Middle East and North Africa, and Latin America
1. North America dominated the PFAS testing market and accounted for the largest revenue share in the current year.
2. In Asia-Pacific, the PFAS testing market is anticipated to demonstrate lucrative growth during the forecast period.
PFAS Testing Market Regional Outlook
Based on the geographical regions, the PFAS testing market can be segmented into five major regions, including North America, Europe, Asia Pacific, Middle East and North Africa, and Latin America. Led by the US, North America is anticipated to capture the majority share of the PFAS testing market in current year. This can be attributed to the presence of major market players, robust regulatory framework, high investments and involvement of established players. Asia-Pacific is accounted to be the fastest-growing segment of the market.
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Key Report Takeaways
1. Presently, around 131 PFAS testing solutions are being offered by companies across the globe; of these, majority of the companies are headquartered in North America.
2. Close to 40% of the companies engaged in offering PFAS testing solutions are mid-sized firms; of these, almost 60% of the firms are based in North America.
3. More than 75% providers offer PFAS testing services of these, 101 players provide testing services for water samples, followed by those testing soil samples.
4. The rising interest in this domain is reflected by the rise in recent development initiatives undertaken by various stakeholders; notably, more than 85% of the initiatives were inked in the last three years
5. The PFAS testing market is anticipated to grow at an annualized rate of 11.1% till 2040; further, the market in Asia-Pacific is likely to grow at a faster pace.
PFAS Testing Market Key Players
Examples of key companies engaged in the PFAS testing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Agilent, Biotage, Danaher, Envirolab Services, FREDsense, GL Sciences, LCTech, Macherey-Nagel, Merck Corporation, MPL Laboratories, PerkinElmer, Sartorius, Shimadzu, Symbio Laboratories and Waters Corporation.
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Contact Details
Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com
About Roots Analysis
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.
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