by Mold remediation services involve removal of indoor mold from commercial and residential properties. Mold causes several health issues such as asthma, respiratory infections, wheezing and skin irritation. With rising awareness about health impacts of indoor mold, demand for mold inspection and removal services has increased substantially.
The global mold remediation service market is estimated to be valued at US$ 1241.61 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for indoor air quality is a major trend fueling the growth of the mold remediation service market. People are increasingly concerned about indoor pollutants and allergens including mold. Prolonged mold growth can release toxins and spores in the air causing various respiratory issues. Hence, with rising health consciousness, consumers are willing to invest in mold inspection and removal services to ensure good indoor air in their homes and offices. Various government regulations regarding indoor air standards are also driving more commercial facilities and buildings to adopt mold remediation services.
SWOT Analysis
Strength: Mold remediation services offers permanent removal of mold through advanced cleaning techniques and chemicals. This ensures complete safety from health hazards of mold.
Weakness: The mold remediation process is time consuming and requires skilled technicians. Improper handling can spread mold spores instead of removing them.
Opportunity: Increasing awareness about health issues of indoor air pollutants like mold is driving the demand for professional mold removal services. New technologies for fast and effective mold detection and killing also present opportunities.
Threats: DIY mold removal kits and incomplete mold removal services by general cleaning companies can threaten the market for specialized mold remediation services. Economic slowdowns may reduce spending on non-essential home improvement services.
Key Takeaways
The Global Mold Remediation Service Market Size is expected to witness high growth. The global Mold Remediation Service Market is estimated to be valued at US$ 1241.61 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.
The North America region currently dominates the mold remediation service market owing to strict regulations regarding indoor air quality and health hazards of mold. The United States holds the major share in this region due to high occurrence of rain and flooding that causes mold growth.
Key players operating in the Mold Remediation Service market are HiMedia Laboratories, Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Corning Inc., Atlas Biologicals, Inc., TCS Biosciences Ltd., Bovogen Biologicals Pty Ltd., Novus Biologicals, LLC, Capricorn Scientific, PAN-Biotech GmbH, Atlanta Biologicals, Inc., Rockey Mountain Biologicals, GE Healthcare, Serana, and Zhejiang Tianhang Biotechnology.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
