Explore the Environmental Health & Safety (EHS) Market is demanded globally
Environmental health & safety (EHS) is likely to be an integral part of the framework of all business models in not-so-distant future. Over the past few years, business executives, owners, and their promoters are increasingly adopting workplace regulations to comply with EHS regulations.
A number of EHS regulations are gaining collective public consciousness, and are likely to shape the future approaches of running businesses on a larger scale. The environmental health & safety (EHS) market has evolved and gained impetus largely on these factors and trends.
A crucial aspect of this dynamic is the growing access to EHS labs. Further, companies are willing to put their stakes on EHS management and are partnering with lab management services.
New approaches in EHS management are encouraging investments in the EHS market. Policymakers in various countries have also become more conscious than ever to update the regulations to meet the latest trends in EHS.
Organizations are becoming conscious about the implementation of EHS programs on their culture and their role further in ensuring the safety of employees. Numerous small- and medium-scale companies in the developing world are actively making audits and inspections and taking control measures accordingly.
This has spurred new growth prospects in the EHS market.
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The COVID-19 pandemic has upended the business, operating, and strategic models of organizations of all size and nature. The high health morbidity and rising mortality have alarmed and challenged public and private health systems.
The healthcare infrastructure of even the developed and emerging economies have been stressed beyond imagination on one hand, and the trade barriers have severely affected the cash flow in economies. Governments from across the world have joined hands and are concertedly working to reduce the economic fallout and making vaccines available to the needy nations.
These trends are expected to mitigate the economic and social impacts of an emerging pandemic in the next few months. New business models in EHS market will be tested, and new canvas will be used for targeting new consumer propositions.
Multiple statutory and legal requirements to maintain EHS safety standards
Some internationally acclaimed regulatory agencies ensure health & safety of employees and their work environment. These agencies include Occupational Safety and Health Administration (OSHA), Environmental Protection Agency (EPA) of the U.S, National Institutes of Health (NIH), The National Institute for Occupational Safety & Health (NIOSH), Nuclear Regulatory Commission, Department of Labor, New York City Department of Environmental Protection, Council on Certification of Health, Environmental and Safety Technologists (CCHEST), European Agency for Safety and Health at Work (EU-OSHA), and Mine Safety and Health Administration (MSHA).
Environmental Health & Safety System Market Taxonomy
The EHS market is segmented on the basis of components, end-use industry, and geography. The components segment is classified on the basis of software solutions and services offered.
EHS services dominated the global EHS component market and is further expected to maintain its position throughout the forecast period. EHS services have seen extensive deployment across large number of industry verticals globally and have proven to be beneficial.
Based on end-use industry, the market is segmented into chemical & petrochemical, energy & mining, construction, agriculture, transportation, manufacturing, government & public sector, retail, healthcare, and others. Globally, chemical & petrochemical industries have gained significance over the last few decades in major economies such as the U.S., GCC countries, China, Japan, Russia, and Brazil.
The Organisation for Economic Co-operation and Development (OECD) is a dedicated intergovernmental organization protecting employee health and the…