$31.6bn
$X.Xbn
154k
9,417
$XX.Xbn
Demand for laboratory testing services has been high during the current period, but revenue has been somewhat volatile. During COVID-19, lower consumer spending, nonresidential construction and corporate profit hindered investment in laboratory testing services. Despite these developments, spending on personal protective equipment, vaccines and other essential materials that require laboratory testing increased amid the pandemic, causing revenue to expand in 2020. Solid growth in consumer spending, nonresidential construction and health expenditure has caused spending on laboratory testing services to rise from 2022 onward.
Industry revenue has grown at a CAGR of 2.4 % over the past five years, to reach an estimated $31.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Intertek Group Plc | 1,250.4 | 226.3 | 18.1 | |
Eurofins Scientific | 1,054.0 | 120.2 | 11.4 | |
Golder Associates Corporation | 775.0 | 88.4 | 11.4 |
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Industry revenue is measured across several distinct product and services lines, including Agricultural and food product testing, Environmental and biological testing and Commercial and construction testing. Agricultural and food product testing is the largest segment of the Laboratory Testing Services in the US.
Commercial and construction testing evaluates buildings and industrial machinery
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.
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NAICS 339116 - Laboratory Testing Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The industry has benefited from increased government regulation on consumer and food products, higher retailer standards and evolving consumer preferences. Soaring corporate ...
Learn about an industry's products and services, markets and trends in international trade.
Larger testing laboratories often provide unrelated services to businesses in multiple downstream sectors. Smaller labs, however, prefer to specialize in a particular service...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Testing laboratories are often located near their customers to respond quickly and meet local regulations. This is crucial for providing fast and compliant services.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Obtaining an accreditation can help laboratory testing companies retain clients and gain new business. Customers favor laboratories that have accreditation because they rely ...
Learn about the performance of the top companies in the industry.
No single company accounts for more than 5.0% of revenue since market share concentration is low. Each company has its specialization, serving a specific group of customers o...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Laboratory testing companies are subject to regulations set by government agencies and international groups. This includes documentation and record-keeping standards along wi...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit among laboratory testing companies closely follows economic trends. When economic conditions are favorable, increased spending and industrial activity boost revenue, w...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Laboratory Testing Services in the US industry in United States is $31.6bn in 2024.
There are 9,417 businesses in the Laboratory Testing Services in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
The market size of the Laboratory Testing Services in the US industry in United States has been growing at a CAGR of 2.4 % between 2019 and 2024.
Over the next five years, the Laboratory Testing Services in the US industry in United States is expected to grow.
The biggest companies operating in the Laboratory Testing Services market in United States are Intertek Group Plc, Eurofins Scientific and Golder Associates Corporation
Commercial and construction testing and Environmental and biological testing are part of the Laboratory Testing Services in the US industry.
The company holding the most market share in United States is Intertek Group Plc.
The level of competition is moderate and increasing in the Laboratory Testing Services in the US industry in United States.