Bioremediation Technology and Services Market: Global Outlook

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Bioremediation Technology and
Services Market Global Outlook The rapid
increase in the quantity of hazardous wastes and
their cleanup is becoming a serious concern
worldwide. The governments in both developed and
developing countries are weighing the benefits
and drawbacks of bioremediation applications.
This is to address contamination issues in order
to protect future generations from resource
shortages.
The global bioremediation technology and services
market was worth 122.7 billion in 2021 and is
expected to reach 219.6 billion in 2028, growing
at a CAGR of 7.15 over the forecast period
2022-2028. The studied market accelerates
its growth as governments worldwide continue
to prioritize environmental preservation. For
instance, the United States Army Corps of
Engineers is implementing procedures and
programs to treat explosives-contaminated
groundwater using a bioremediation strategy.
Additionally, the in situ bioremediation
technique is being adopted due to its economic
benefits and cost-effectiveness. However, the
long duration of the bioremediation process and
its dependence on environmental factors hamper
the market growth.
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• A Dig into the Market Key Insights
• Bioremediation is a diverse treatment method that
  accelerates the biological cleanup process by
  naturally occurring microorganisms to convert
  hazardous compounds into less toxic or harmless
  substances.
• Over the last few decades, new approaches and
  concepts for treating polluted soil have arisen.
  Due to economic benefits, adopting in situ
  bioremediation technology and services is
  expected to strengthen the studied market
  during the projected period. Natural
  attenuation, bio-sucking, composting, bio
  venting, and microbe-assisted phytoremediation
  are some of the most widely used in situ
  bioremediation technologies and services.
• In situ bioremediation is the fastest growing
  type segment, with a CAGR of 9.10 during
  the forecast period. The growth is attributed to
  its increasing application in the bioremediation
  process.
• Based on the global scenario, Asia-Pacific
  bioremediation technology and services market
  is anticipated to be the fastest-growing,
  surging at a CAGR of 9.24 during the forecast
  period. The region is rapidly adopting in situ
  technology to conserve biodiversity and promote
  the sustainable use of terrestrial ecosystems.
  The growing awareness about the harmful impacts
  of these polluted sites and government regulatory
  compliances to prevent the environment have also
  boosted the market growth.
• Since the technology is a sustainable
  pollution management approach, it requires
  much more research and development. Several
  government initiatives and investments are
  initiated for developing eco-friendly
  technologies to achieve sustainability goals.
  Some of these are listed below.
• EiCLaR project in China and Europe emphasizes
  working to develop technical innovations for in
  situ bioremediation technologies to treat a range
  of environmental pollutants.
• The NABIR program by the U.S. Department of
  Energy (DOE) focuses on research to get
• promising bioremediation technologies for
  cleaning DOE sites.
• University of British Columbias research
  for microbial bioremediation and green
  chemistry received funding of 1.2 million
  through the Natural Sciences and Engineering
  Research Council of Canada.
• In India, initiatives like Environmental
  Biotechnology Program and Swachh Bharat
  Abhiyan focus on environmental improvement,
  including bioremediation of filthy water and
  other techniques.
• Market Players Steer Growth with Innovation and
  Development
• In the last decade, the bioremediation
  technology and services market has seen
  significant activity as companies such as
  Altogen Labs, Drylet Inc, Aquatech
  International etc., bring innovation and
  development opportunities. The players continue
  to emphasize on the development

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• of cutting-edge bioremediation solutions that
  primarily assist in the stability,
  sequestration, recovery, and destruction of
  toxins.
• During the forecast period, advancements in the
  studied market are expected to occur in two main
  areas
• Innovations aimed at improving the resolution to
  interpret the overlay of contaminants and
  hydrogeology
• Digital innovations aimed at streamlining the
  data collection process across larger data
  pools.
• Innovative contribution by Companies-
• Regenesis Remediation Solution introduced ORC
  Advanced, a technology for stimulating aerobic
  bioremediation of contaminated groundwater. This
  is designed specifically for in situ treatment of
  petroleum-based hydrocarbon contaminations.
• InSitu Remediation Services Ltd acquired
  ChemScan Inc to expand In Situs ability to
  serve process applications, including
  industrial and municipal wastewater and
  other drinking water process markets.
• Gaia Klen LLC partnered with Mavu Bio to
  work for the bioremediation industry by
• introducing a top range of eco-friendly products.
• Future Prospects Oxygen Releasing Compounds to
  Gain Traction
• The long duration of the bioremediation process
  is a challenge for the market and one of the ways
  to reduce the time is by applying an
  oxygen-releasing compound (ORC). One such
  patented ORC product is Calcium Peroxide
  (CPO), which promotes aerobic biodegradation
  in soil and groundwater for In Situ
  Bioremediation. Therefore, the application of
  oxygen release compounds in Aerobic
  Bioremediation is gaining traction and is
  expected to boost the bioremediation
  technology and services market during the
  forecast period.
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