Laboratory Testing Services in the US - Industry Market Research Report
Description
Laboratory Testing Services in the US
The Laboratory Testing Services industry includes companies that help businesses, construction contractors and manufacturers perform tests on items ranging from consumer and food products to industrial materials. As consumer goods become increasingly regulated, increased demand for testing services continues. Over the past five years, testing services providers have experienced growth in demand for testing services. In 2020, due to the COVID-19 pandemic, demand for testing services surged, leading industry revenue to grow that year. Accordingly, industry revenue is expected to grow over the five years to 2023, rising an annualized 3.1% to $30.3 billion, including a decline of 0.9% in 2023 alone.
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.
The Laboratory Testing Services industry includes companies that help businesses, construction contractors and manufacturers perform tests on items ranging from consumer and food products to industrial materials. As consumer goods become increasingly regulated, increased demand for testing services continues. Over the past five years, testing services providers have experienced growth in demand for testing services. In 2020, due to the COVID-19 pandemic, demand for testing services surged, leading industry revenue to grow that year. Accordingly, industry revenue is expected to grow over the five years to 2023, rising an annualized 3.1% to $30.3 billion, including a decline of 0.9% in 2023 alone.
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.
Table of Contents
49 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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