Dublin, Feb. 05, 2024 (GLOBE NEWSWIRE) — The “Testing Laboratories – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Testing Laboratories Market to Reach $143.9 Billion by 2030
The global market for Testing Laboratories estimated at US$83.4 Billion in the year 2022, is projected to reach a revised size of US$143.9 Billion by 2030, growing at a CAGR of 7% over the analysis period 2022-2030.
Testing laboratories play a crucial role in various industries, and this report provides valuable insights into their global market landscape. In 2022, key competitors in the testing laboratory sector have significant market shares, underscoring the industry’s importance. The pandemic has had a notable impact on laboratory testing services, with macroeconomic variables deteriorating and subdued industrial activity affecting the market.
This report introduces different types of testing laboratories, including food testing, biological testing, hydrostatic testing, automobile testing, calibration testing, electrical testing, film badge testing/radiation testing, forensic testing, geotechnical testing, product testing, mechanical testing, and non-destructive testing (NDT). NDT is particularly highlighted for its importance and applications across various industries.
Global market prospects and outlook reveal opportunities in developing markets, offering significant growth potential. The report also outlines criteria for selecting a testing laboratory, helping stakeholders make informed decisions. Competition in the industry is examined, distinguishing between world brands and recent market activities. The competitive landscape is categorized as having a strong, active, niche, or trivial presence for players worldwide in 2022, providing valuable insights into the market dynamics.
The U.S. Market is Estimated at $26.7 Billion, While China is Forecast to Grow at 9.5% CAGR
The Testing Laboratories market in the U.S. is estimated at US$26.7 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$21.7 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 6.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 455 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $83.4 Billion |
| Forecasted Market Value (USD) by 2030 | $143.9 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Trends Poised to Transform the Future of Laboratories
- Companies Prefer Off-Site Testing Laboratory Services
- Artificial Intelligence Enhances Lab Testing Services
- Harmonization of Global Standards Remains a Challenge for Testing Labs
- Food Testing Laboratories: The Most Common Types of Testing Lab Services
- Increase in Number and Complexity of Foodborne Outbreaks and Product Recalls: Potential for Growth
- Number of Food Allergen Recalls in the US: Breakdown by FDA-Regulated Foods and FSIS-Regulated Foods for 2019
- Foodborne Illness Outbreak Investigations in the US (2019 & 2020)
- Impact of COVID-19 on Food Safety Testing Industry
- Increasing Risk of Food Fraud a Major Concern for Food Companies
- Rising Need for Universal Food Safety and Security Regulatory Reforms
- Globalization Injects Universal Demand for Food Diagnostics
- Food Contract Laboratories to Outdo In-house Labs
- Outsourcing of Food Safety Testing Gathers Steam
- Food Microbiology Testing Market on a Growth Spree
- Global Food Microbiology Testing Market Breakdown of Value Sales (in %) by Pathogen and Routine Tests for 2020E
- Rapid and Automated Tests: Attractive Solution for Food Processors
- Emerging Technologies Transform Food Safety Testing Market
- NGS-based Food Safety Testing: A Technology with High-Growth Promise
- Novel & Tested Technologies to Spur Growth
- Nanotechnology in Food Testing
- Biosensors and Smartphones Set New Frontiers
- Biotechnology and Bioinformatics: The Backbone of New Testing Technologies
- Process Testing to Gain Prominence
- Automation Picks Up Momentum
- Real-time PCR/qPCR Technologies Fundamental in Food Safety Testing
- Metabolomic Profiling in Food Safety Testing: An Opportunity to Tap
- Competitive Landscape
- An Insight Into Non-Destructive Testing (NDT) Services Market
- Impact of COVID-19 on the NDT Market
- NDT Services: Current Market Scenario and Outlook
- Power and Energy Sector Provides Potential Growth
- Developing Regions to Exhibit Faster Growth
- Evolving Applications of NDT Inspection: A Positive Trend
- Ultrasonic Technique (UT): Largest Category
- Magnetic Particle Inspection (MPI) Widens Business Prospects
- Radiographic Testing (RT) Accelerates Market Expansion
- Visual Inspection Testing (VT) Exhibits Faster Growth
- Eddy Current Testing Holds Immense Potential
- Manufacturing Sector: Dominant Consumer of NDT Services
- Oil & Gas Entities Leverage NDT to Deal with Challenging Environment and Stringent Standards
- NDT Gains Traction in Detecting Imperfections in Aerospace Materials
- NDT Comes to the Fore to Ensure Safety of Power Generation Installations
- Maintenance of Traditional Fossil Fuel Plants to Drive Demand for NDT Services
- Non-Destructive Testing for Safety of Critical Nuclear Installations
- Inspection in Fossil Fuel Power Infrastructures
- Automotive Sector: A Traditional End-Use Sector for NDT
- Automotive OEMs Rely on NDT to Drive Manufacturing Quality & Uptime
- Calibration Testing Services Market: An Overview
- Focus on Preventive Maintenance and High Quality Standards Drive Demand for Calibration Services
- Developing Markets: Opportunities in Store
- Key End-Use Applications of Calibration Services
- Onsite Calibration Fuels Adoption of Calibration Services
- User-Friendly & Self-Calibrating Devices Pose a Threat to Outsourcing of Calibration Services
- Notable Trends in the Calibration Services Market
- Expansion of Service Portfolio is Key to Future Growth
- Recognition of Intrinsic Cost Benefits: Critical to Market Acceptance
- Drive to Maintain Quality Standards
- Accreditation Magnifies Business Case for Calibration Services
- Proliferation of OEMs to Improve Quality of Calibration
- Innovations in Service Delivery Mechanisms
- Shift to Paperless Calibration Management System
- Rising Prominence of Paperless Technology for Maintenance & Calibration in Life Sciences Market
- Improved Access to Expert Guidance Helps Laboratories
- Calibration Management Software Shifts to Cloud Platform
- Key Challenges Facing Calibration Services Market
- Calibration Services: Provider Landscape
- Environment Testing Laboratories: Growing Demand for Clean Environment Ups Market Opportunities
- Impact of COVID-19 Pandemic on Environmental Testing Market
- Wastewater Surveillance Emerge as Lucrative Area for Environmental Testing Providers
- Services to Detect COVID-19 Virus on Environmental Surfaces Impel Testing Market
- Deteriorating Quality of Water Throws Emphasis on Water Testing Services
- Percentage of Contaminated Water in Drinking Water Supplies in Africa, Asia, and Latin America and Caribbean
- Growing Concerns over Rising Emissions, and Climate Change Trigger Demand for Air Quality Testing Services
- Global Indoor Air Pollution Related Fatalities by Health Condition (2020E)
- Global Carbon Dioxide (CO2) Emissions (in Billion Metric Tons): 2010-2019
- Testing Soil Quality Gains Significant Importance
- Challenges Facing Environmental Testing Laboratories
- Automation and Focus on Improving Productivity and Quality Drive Demand for Testing Services in Automotive Industry
- World Automobile Production in Million Units: 2008-2022
- Automobile Production % YoY Change Across Select Regions: 2020 Vs 2019
- Complex Nature of Oil & Gas Operations Enhance Significance of Lab Testing Services
- Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
- Global Oil & Gas E&P Industry Spending (in US$ Billion) for 2015-2021E
- Electrical Testing Services Market: Ensuring Safety of Products
- Forensic Testing Laboratories Market: Potential Opportunities in Store
- Rise in Crime Boosts the “Need” Factor
- DNA Analysis: The Ultimate Weapon in the Battle against Crime
- DNA Profiling: A Key Forensic Tool
- Rise in Gun Violence Raises the Demand for Forensic Ballistics
- Increase in Cyber Crimes Brings to Fore the Emergence of Computer Forensics
- Cloud Forensics Grow in Popularity
- All Eyes on Forensic Consulting Services
- Insufficient Funding Hampers Operations of Crime Labs
- Challenges Facing Testing Laboratories Market
FOCUS ON SELECT PLAYERS(Total 111 Featured)
- ARUP Laboratories
- ADICON Clinical Laboratories, Inc.
- ATS GeneTech Pvt., Ltd.
- Aurora Diagnostics
- BioReference Laboratories, Inc.
- Bioscience Laboratories, Inc.
- ACM Global Laboratories
- Avomeen Analytical Services
- Biounique Testing Laboratories Inc.
- Bio-Check (UK) Ltd.
- Barnes International, Inc.
- 2 River Labs
- Aeon Global Health
- Cannabis Training Institute
- Akron Rubber Development Laboratory, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/sswkju
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Source: Vietnam Insider