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Liquid Chromatography-Mass Spectroscopy Segmented By Triple Quadrupole, Time of Flight, Quadrupole Technology in Clinical Testing, Environmental Testing, Forensic Testing
By application, the environmental testing segment is expected to create an absolute $ opportunity of more than US$ 10 Mn in 2017 over 2016. By the end of 2024, the environmental testing application segment is projected to cross more than US$ 290 Mn, expanding at a CAGR of 8.7% over the forecast period.
The environmental testing segment accounted for a market share of more than 11% in 2016 and is projected to account for a little more than 13% market value share by 2024 end. This represents an increase of 71 basis points during the forecast period.
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In the Asia Pacific liquid chromatography-mass spectrometry market, the environmental testing segment by application is likely to record a CAGR of 7.6% during the forecast period. In terms of revenue, the environmental testing segment was one of the attractive segments by application in the Asia Pacific regional market in 2015, and the trend is projected to grow throughout the forecast period. In the MEA liquid chromatography-mass spectrometry market, the environmental testing application segment was valued at a little more than US$ 4 Mn in 2016 and is expected to reach approximately US$ 7 Mn by 2024.
The environmental testing segment is expected to dominate the North America liquid chromatography-mass spectrometry market by reaching a market value of more than US$ 130 Mn by the end of the forecast period, expanding at an attractive CAGR of 10.2%. The environmental testing segment is likely to be a lucrative market segment by application in the Latin America liquid chromatography-mass spectrometry market.
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Get a Customized VersionThere are a few factors that are expected to fuel the growth of the environmental testing segment in the global liquid chromatography-mass spectrometry market such as the sustainable transformation of environmental policies; increasing number of energy and construction related projects; and the main factor being a rising awareness among the global population regarding the ill effects of environmental pollution. There has been an increasing growth of environmental testing in India owing to the government’s initiatives and also due to the rising demand for the development of waste infrastructure.
Industrial boom and rapidly increasing air and water pollution levels are primarily responsible for the growth of the environmental testing application segment in the global liquid chromatography-mass spectrometry market. This trend has been observed particularly after a rising number of automobiles that run on non-renewable sources and thus create enormous levels of air pollution. In a similar manner, due to increasing industrial activities, water bodies across the world have become polluted, which is invariably impacting the environmental testing application segment of the global liquid chromatography-mass spectrometry market.
The government in the U.S. has set stringent policies and has also appointed regulating bodies to deal with the growing problems of air and water pollution. For instance, various amendments have been made in the safe drinking water act and the clean air act. These measures are likely to fuel the growth of the environmental testing application segment.
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