The Laboratory Testing Services industry comprises companies that help businesses and manufacturers perform tests on items ranging from consumer and food products to industrial materials. In an increasingly regulated society, pressure on operators to ensure the safety and quality of their products is higher than ever. A greater number of government safety regulations and consumer lawsuits have led to rigorous testing of manufacturers' goods prior to sale. The industry has grown over the past five years, driven by renewed consumer spending and corporate investment in the development of new products. As companies accommodate stricter environmental regulations and invest in new products over the next five years, demand for laboratory testing services is expected to grow. A projected increase in government regulation concerning consumer products and greater pressure on producers to create high-quality goods, in particular, will ensure stable growth.
Companies in this industry perform physical, chemical and other analytical testing for commercial purposes. Such testing may occur in a laboratory or an on-site facility (i.e. where the product is manufactured or developed). Most results from industry-led tests are checked against government regulations and environmental, industrial and product standards. This industry excludes medical and veterinary testing labs.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.