Laboratory Design & Build Contractors in the US - Market Research Report (2014-2029)

Lab test: Labor shortages, supply chain issues, and soaring interest rates have burdened the industry

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.

Laboratory design and build contractors primarily specialize in new laboratory construction, remodeling, renovations, relocations and additions. Government funding through public research institutions makes up a significant portion of demand; however, startup companies backed by venture capital represent an expanding revenue source. Demand soared through the pandemic as companies heavily invested in COVID-19 treatment and vaccine research. Even so, skyrocketing interest rates have cut into demand, leading to sharp post-pandemic declines. Revenue has fallen at an estimated CAGR of 1.2% to $10.5 billion through the current period, including a 1.2% drop in 2023.

This industry designs and builds laboratories for customers. Design considerations include minimizing cost, choosing a suitable location, hazardous chemical storage, adhering to federal regulations and providing explosion-proof electrical fixtures of walls. Construction includes new construction and laboratory relocations, additions or renovations.