Testing and Analysis Services Market May Set Epic Growth Story | Galbraith Laboratories, ALS, Intertek Group, Eurofins

Latest published market study on Testing and Analysis Services Market provides an overview of the current market dynamics in the Testing and Analysis Services space, as well as what our survey respondents—all outsourcing decision-makers—predict the market will look like in 2027. The study breaks market by revenue and volume (wherever applicable) and price history to estimates size and trend analysis and identifying gaps and opportunities. Some of the players that are in coverage of the study are ALS, Acuren, Activation Laboratories, Element Materials Technology, Elemental Analysis Inc, EAG, Eurofins Scientific Group, Galbraith Laboratories, Maxxam, Intertek Group, etc.

Get ready to identify the pros and cons of regulatory framework, local reforms and its impact on the Industry. Know how Leaders in Testing and Analysis Services are keeping themselves one step forward with our latest survey analysis

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The Global Testing and Analysis Services is Expected to Display an Elevated CAGR of ~5% over the forecast period (2021-2027)

The global testing, and analysis services market is driven by stringent government regulations & standards across various industry verticals across the globe. Globalization has led to an increase in the number of food imports from other regions. This has resulted in the rising number of Testing and Analysis Services analysis activities across countries. This growth in the number of counterfeit goods has driven government authorities to implement various guidelines. The regulations are intended to limit the inflow of counterfeit goods from foreign regions. The lack of commonly accepted standards and the growth in protectionist policies have been the major challenges restraining market growth. These protectionist policies impose high tariffs on imports from foreign regions

Moreover, the presence of numerous players coupled with the launch of new facilities in the regions is acting as a growth catalyst to the industry. Players are leveraging inorganic growth strategies, such as mergers & acquisitions, to gain market share. These companies are primarily targeting small players to expand their geographical reach and increase profitability. For instance, in June 2018, SGS acquired Polymer Solutions Incorporated (PSI), an independent material testing laboratory specializing in polymer science. This acquisition is aimed at strategically enhancing its global platform of materials science and testing laboratories to support the further expansion of its added-value services in new markets.

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Insights Presented in the Report

“Amongst Type, Water segment holds the major share”

Based on type, the market is fragmented into Water, Soil/Sediment, Clay Minerals, Metal Alloy, Biological samples, and Others. The water segment grabbed the major market share and dominated the market in 2020. Water Testing and Analysis Services are used for water quality testing, which includes physical (e.g., turbidity), chemical (e.g., pH), and biological (e.g., coliforms) parameters of the water sample at certain time intervals to determine whether it is safe for drinking purposes or use in any other application. However, the metal segment would witness a considerable CAGR in the forthcoming period as well

“Amongst Application Type, Food and Beverage segment to grab considerable market share”

Based on the application, the market is fragmented into Food & Beverages, Pharma/Medical Devices, Oil & Gas Energy, Automobile and Transportation, Chemicals, Environment and Agriculture, Metal and alloy, Architecture, and Infrastructure. The food and beverage segment grabbed XX% market share in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. The key factors attributed to the growing market of this segment are the stringent regulations by FDA, rising health consciousness among end-users, etc. However, the pharma/medical device segment would witness a robust CAGR in the forthcoming years as well.

“North America represents one of the largest markets of Testing and Analysis Services market”

For a better understanding of the market dynamics of the Testing and Analysis Services market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Testing and Analysis Services providers in abundance. Also, leading manufacturers of Testing and Analysis Services are currently implementing technologically advanced production processes to increase production efficacy and optimize product offerings

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

For deep analysis of Testing and Analysis Services Market Size, Competition Analysis is provided which includes Revenue (M USD) by Players (2019-2021E) & Market Share (%) by Players (2019-2021E) complimented with concentration rate.

Actual Numbers & In-Depth Analysis of Testing and Analysis Services Market Size Estimation and Trends Available in Full Version of the Report.

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