PUBLISHER: Grand View Research | PRODUCT CODE: 1529694
PUBLISHER: Grand View Research | PRODUCT CODE: 1529694
The global aquatic ecotoxicological studies market size is expected to reach USD 750.9 million by 2030 and grow at a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by growing environmental awareness, the potential risk of toxic substances on aquatic organisms, and the increasing need for ecotoxicological studies to identify and assess environmental risks and ensure compliance with environmental regulations.
Furthermore, increased focus on environmental sustainability and the requirement for regulatory practices to characterize the long-term effects of toxic substances on aquatic ecosystems and pollution-related issues have fueled the market. Likewise, the studies provide crucial insights into pollutant behavior, bioaccumulation, and ecological pathways, helping to prevent environmental disasters and protect human health. Moreover, the companies are significantly focusing on developing formulations and solutions with lesser threats and adverse impacts on environmental entities. Hence, aquatic ecotoxicological studies are crucial to evaluate the safety of these newly developed formulations on aquatic life before their widespread use.
In addition, the market is significantly growing, with players offering various testing services such as acute toxicity tests, chronic toxicity tests, bioaccumulation studies, biodegradation studies, and others, propelling the market growth. In addition, the growing expansion of facilities for aquatic ecotoxicological studies in various regions across the globe is gaining momentum, driven by a growing demand for environmentally friendly and sustainable options. For instance, in October 2022, Charles River Laboratories announced the ecotoxicology expansion of its 16,000 m2 site to meet the growing demand for various time-critical testing programs. In addition, the company has completed the construction of six new ecotoxicology laboratories and has upgraded its existing facilities. At its Den Bosch site, the company will now offer expertise in ecotoxicology, toxicology, and environmental risk assessments. Additionally, new facilities will include a custom-designed fish culture system for aquatic ecotoxicology studies. Besides, in early 2023 the testing volumes performed are expected to increase when changes to endocrine disruptor testing requirements. This expansion will allow the company's clients to effectively continue their studies in accordance with regulatory changes.
Some of the key players in the market are SGS SA, Charles River Laboratories Inc., Laboratory Corporation of America Holdings, Toxi-Coop Ltd., and others. Market players are adopting key strategic initiatives to boost their market presence and expand their business. For instance, in October 2022, EcoAnalysts, Inc. announced its expansion in Florida after its acquisition of Hydrosphere Research Environmental Services, an aquatic ecotoxicity testing service provider.
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