Market Share of Residue Testing Industry
The Global Residue Testing Market is highly fragmented, having some of the major playersof the Residue Testingare SGS S.A., Bureau Veritas S.A., Intertek Group plc., ALS Limited, Eurofins Scientific. New product launches, market expansion, partnerships, and acquisitions are the preferred strategic approaches adopted by most companies involved in the global residue testing market. Mergers and acquisitions is the topmost strategy adopted by residue testing companies. M&A activities assist companies to have diversified products and services, gain operational stability, improve and develop a growth model, gain access to patents, R&D or technology and others. For example, in 2017, Eurofins expanded its products offering in food testing market by acquiring Institut Nehring GmbH, which is aleading food testing laboratory in Germany thus, further expanding its market share in Germany food testing market. Expansion is another key strategy adopted by residue testing companies in order to strengthen their overall presence in the global residue testing market.
Residue Testing Market Leaders
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SGS SA
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Bureau Veritas
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Eurofins Scientific
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Intertek Group plc
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AsureQuality Limited
*Disclaimer: Major Players sorted in no particular order
