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(Medical-NewsWire.com, January 08, 2021 ) Growth in the Environmental Testing Equipment Market can be attributed to factors such as the rising levels of environmental pollution worldwide, increasing government regulations and initiatives for environmental protection, privatization of environmental testing services, and increasing focus on wastewater treatment.
The global environmental testing equipment analysis market is projected to reach USD 2.9 billion by 2023 from USD 2.1 billion in 2018, at a CAGR of 7.1%.
On the other hand, high capital investments for accurate and sensitive analytical testing and lack of supporting infrastructure and skilled professionals are expected to limit market growth to a certain extent during the forecast period.
Global Leaders:
The major players in the environmental testing equipment market include Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), Shimadzu Corporation (Japan), Bruker (US), PerkinElmer (US), SCIEX (a subsidiary of Danaher) (US), JEOL (Japan), Analytik Jena (Germany), and Merck KGaA (Germany).
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Growth Strategies:
The analysis of market developments between 2016 and 2018 showed that market players adopted growth strategies such as product launches, strategic acquisitions, expansions, partnerships, agreements, and collaborations to strengthen their product portfolios and maintain a competitive position in the environmental testing equipment analysis market.
In 2017, Agilent technologies held the dominant position in the environmental testing equipment market. This can be attributed to the extensive product portfolio of analytical technologies, including chromatography, molecular spectroscopy, and mass spectrometry that the company offers. The firm strives to maintain its leading position by engaging in inorganic and organic growth strategies such as product launches, acquisitions, collaborations, and expansions.
The increase in the revenue of the Life Sciences and Applied Markets segment (offering chromatography and spectrometry instruments) was led by its growth in applied markets such as environmental, chemical and energy, and food. Agilent adopted the strategies of acquisitions, collaborations, and expansions to improve its market presence and maintain its leadership position in the market. For instance, in 2018, Agilent established a new logistics hub in Shanghai to enable the rapid delivery of the company’s instrument parts, supplies, and consumables to laboratories in China.
In 2017, Thermo Fisher Scientific was the second-largest player in the environmental testing equipment analysis market. The company’s leading position can be attributed to the growth in its sales, which was particularly strong in Asia. The sale towards each of the company's primary end-user markets also grew, including environmental industries. Thermo Fisher’s strong geographic presence is another asset for the company, with a presence in over 150 countries worldwide.
It sells its products and services through direct sales with the assistance of customer-service professionals, e-commerce, and third-party distributors. The company is equipped with a sales workforce of 12,000 highly trained personnel to meet the technical needs of end users. The firm strives to maintain its leading position by focusing on product launches and other developments. In 2018, Thermo launched the TSQ Fortis Triple Quadrupole Mass Spectrometer, Q Exactive UHMR Hybrid Quadrupole-Orbitrap Mass Spectrometer, and ISQ EM Single Quadrupole Mass Spectrometer to strengthen its LC-MS platform.
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Shimadzu Corporation was the third largest player in the environmental testing equipment market in 2017. The strong foothold of the company in the market can also be attributed to its versatile portfolio of environmental testing products offered via its Analytical and Measuring Instruments segment. In June 2017, Shimadzu acquired the French reagents manufacturer, Alsachim SAS, which will serve as the base of Shimadzu’s reagents business in Europe. In 2017, the sales of the company’s liquid chromatographs, mass spectrometers, gas chromatographs, and other environmental instruments was strong in North America and China owing to the government policies strengthening pollution control measures. Shimadzu has an established its marketing and production bases all around the world.
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