Eurofins Scientific SWOT and PESTLE Analysis

Strength

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Weakness

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Opportunity

1. Expanding in Bioanalytical testing market: Bioanalytical testing which can be defined as testing all products and substances that we eat, drink, absorb, swallow, inhale or come in contact with physically is a relatively new market which began expanding significantly only a few decades ago, mainly for third-party service providers. Although the effort is to standardize the whole process, still, the market is highly fragmented, with much smaller and medium-sized laboratories offering a limited technological portfolio, regional presence, and customer reach. Many companies in the bioanalytical testing market are looking forward to providing services. Many countries across the world, have allowed companies to perform laboratory testing mainly restricted to in-house activities.

2. Innovating in clinical diagnostic markets: The clinical diagnostics market mainly consists of assessments, instruments, products, and services that are helpful in the diagnosis and treatment of diseases. This market is expected to grow as effective diagnosis enables the use of more personalized medicine, which involves allowing healthcare professionals to diagnose better and prescribe more definitive treatment for each patient. Technological innovations relevant to medicine can lead to a more accurate diagnosis and treatment of diseases. Furthermore, advances in genomics result in advanced diagnostic tests, which ultimately could bring the healthcare system to a point where personalized medicine can be provided. The amount of healthcare data, including those resulting from modern sequencing technologies, frequently referred to as "next-generation DNA sequencing," and is likely to open up new possibilities to impact diagnosis and treatment of diseases positively.

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Threat

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Political

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Economic

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Social

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Technological

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Legal

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Environmental

1. Contamination of biological materials poses a risk of health hazards: Almost all the organizations operating in the pharmaceutical industry use natural and hazardous materials, which could injure people or violate laws, that could adversely impact its financial condition and business. However, companies cannot guarantee to control the risk of accidental contamination or injury from the use, handling, or disposal of these materials, including in the case of error, accident, fire to its facilities. Any contamination or injury could also damage its image and reputation, which is the primary factor in obtaining new business. Furthermore, companies are often subject to one or more levels of laws and regulations in the countries in which they operate governing the use, storage, and disposal of the specified waste products. The cost of mandatorily following these laws and regulations is high, and if changes are made to impose additional requirements, these costs could increase and have an adverse impact on the results of operations.

2. Growth in the environmental testing market: Demand for PFAS analysis is increasing at a global level, and the need for identification of unknown substances in the environment is increasing. Eurofins has responded by developing methodologies using state-of-the-art testing procedures to concurrently enhance regulated compound detection. There has been a significant increase in pollution issues, and with the development in epidemiology identifying more compounds as toxic, the need of the hour is a sophisticated analysis and more advanced equipment. Citizens across the world are demanding a clean environment, which makes sure that industries increase environment testing and outsource internals labs. Although Eurofins is the leader in the environment testing in the world, still, there are many new demands cropping up in the domains of water contaminants, indoor and ambient pollutants, and analysis of soil. Eurofins has immense opportunity to upgrade their testing potential to leverage these highly demanded domains.

The remaining section of “Environmental” is available only in the 'Complete Report' on purchase.