Laboratory Testing Services in the US - Market Research Report (2014-2029)

Passing grade: Increasing regulatory standards are expected to drive demand for testing services

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.