• According to Transparency Market Research’s latest report on the global testing and analysis services market for the historical period 2017–2018 and forecast period 2019–2027, International standards and regulations have been a major driver of the testing and analysis services market during the forecast period
  • According to the report, the global testing and analysis services market was valued at US$ 21.8 Bn in 2018 and is anticipated to expand at a CAGR of 7.0% from 2019 to 2027

Growing trend of Outsourcing: Key Drivers

  • Most of the testing services are conducted in-house and is particularly evident in the life sciences, petrochemical, and chemical industries. Currently, only 42% to 45% of the services are being outsourced, served by independent service providers (companies whose primary business activities are providing testing services). However, the percentage has grown significantly in the past five years. Compared to 2015, the outsourced testing services market has grown more than 5%, and is expected to grow further during the forecast period.
  • Large companies are increasingly outsourcing testing in an attempt to reduce costs as the increasing levels of regulations make it progressively costlier to test in-house. These companies are focusing on core activities and passing on responsibilities to independent third parties for regulatory compliance. Outsourcing activities is highest in the environmental (including agriculture) industry; the number has reached approximately 60% in 2018. The food & beverage industry is the second largest market for outsourcing services. However, recent trends suggest that outsourcing services would grow at the highest rate in the biopharmaceutical and medical devices industry.

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Manufacturing Migration and Short Product life Cycle

  • Higher value-added manufacturing (chemicals, biopharmaceuticals, medical devices, and precious commodities) continues to do reasonably well in most of the developed regions. However, manufacturing of general consumable goods, food, and other commodities has moved to emerging countries in the last decade due to high cost. Although manufacturing migration has little to moderate effect on large companies, it has opened new avenues of income for small companies in the region. Countries such as Vietnam, India, China, Brazil, and Mexico are picking up quite a bit of that work because labor costs are extremely low and these countries have easy access to the global market. Business operations in these countries would help increase revenue as well as brand recognition. Additionally, expanding business in these countries is cheap compared to western countries. Hence, risk on return on investment would be minimal.

High Capital Requirements to Hamper Market

  • High capital requirement is one of the major challenge for companies operating in the industry, especially for new market entrant and small size companies. A testing services company usually requires multiple instruments and well trained staff to run business efficiently.
  • The instruments may cost in excess of US$ 200,000 even for a small setup. Additionally, other costs such as consumables, premises, and staff would incur significant investment. Depending on the setup and up-front investment, the companies require large capital to sustain the business; a major restrain for small startup business.

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Global Testing and Analysis Services Market: Competitive Landscape

  • This report profiles major players in the global testing and analysis services market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global testing and analysis services market is highly fragmented, with the presence of a number of international as well as regional players
  • Leading players operating in the global testing and analysis services market are
    • ALS Limited
    • Activation Laboratories Ltd.
    • EAG Inc.
    • Element Materials Technology
    • Elemental Analysis, Inc.
    • Galbraith Laboratories
    • Intertek Group plc
    • Eurofins Scientific Group.
    • Maxxam, Acuren
    • Laboratory Testing Inc.
    • Lucedeon Limited
    • Micro Analysis, Inc.
    • Midwest Microlab
    • LLC
    • NSL Analytical Services, Inc. 
    • Particle Technology Labs
    • SGS SA
    • Solvias AG
    • Exeter Analytical (UK) Ltd.,
    • among others

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Global Testing and Analysis Services Market: Key Developments

Key players in the global testing and analysis services market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global testing and analysis services market.

The report on the global testing and analysis services market discussed individual strategies, followed by company profiles of manufacturers of testing and analysis services. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global testing and analysis services market.

Global Testing and Analysis Services Market - Scope of Report

TMR’s report on the global testing and analysis services market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global testing and analysis services market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global testing and analysis services market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global testing and analysis services market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global testing and analysis services market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global testing and analysis services market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global testing and analysis services market.

The report delves into the competitive landscape of the global testing and analysis services market. Key players operating in the global testing and analysis services market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global testing and analysis services market that have been profiled in this report.

Key Questions Answered in Global Testing and Analysis Services Market Report

  • What is the scope of growth of product companies in the global testing and analysis services market?
  • What will be the Y-o-Y growth of the global testing and analysis services market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global testing and analysis services market?
  • Will North America continue to be the most profitable market for testing and analysis services providers?
  • Which factors are anticipated to hamper the growth of the global testing and analysis services market during the forecast period?
  • Which are the leading companies in the global testing and analysis services market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global testing and analysis services market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global testing and analysis services market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the testing and analysis services market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the testing and analysis services market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global testing and analysis services market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global testing and analysis services market more reliably and accurately.

Regional Segmentation of Testing and Analysis Services Market

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Global Testing and Analysis Services Market - Segmentation

Sample Type

  • Water
  • Soil (Manure and Air)
  • Sediment
  • Clay minerals
  • Metal Alloys
  • Biological Sample
  • Food/Beverage
  • Chemical Products
  • Corrosion Products
  • Oil , Gas and Fluids
  • Minerals and Ores

Type of Analysis

  • Elemental Analysis
  • Organic Analysis
  • Isotopic Analysis
  • Particle size analysis
  • Mineralogical Analysis
  • Metallurgical Analysis
  • Petroleum Petrochemical
  • Biomedical and Biopharmaceutical Analysis
  • Others

Industry

  • Food & Beverage
  • Pharmaceutical, Medical Devices
  • Environmental
  • Energy (Oil & Gas)
  • Mining & Minerals
  • Chemical & Commodities
  • Heavy Industry

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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