Press release
Testing and Analysis Services Market to Grow at a 7.0% CAGR from 2019 to 2027, Reaching US$ 27,864.7 Mn: TMR Report
Testing and Analysis Services
The global testing and analysis services market achieved a valuation of US$ 21.8 billion in 2018, as stated in the report. Moreover, it forecasts a robust compound annual growth rate (CAGR) of 7.0% to reach US$ 27,864.7 Mn from 2019 to 2027, indicating sustained expansion within the industry.
๐๐๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ :
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The global testing and analysis services market is a multibillion-dollar industry that facilitates massive amounts of samples. In this fast-paced market, testing and analysis services are required to keep up with regulatory reforms and increased demand. To decrease the risk of failure, promote safety, comply with regulations, and limit financial losses, thorough testing of diverse products, raw materials, as well as other goods is required. As a result, testing services are required in every business before items are ready for sale.
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Most testing services, notably in life sciences, petrochemical, and chemical sectors, are conducted in-house. Currently, around 42% to 45% of these services are outsourced to independent service providers, a percentage that has notably increased over the past five years. Compared to 2015, the outsourced testing services market has grown by more than 5%, with further growth anticipated in the forecast period.
Large companies increasingly outsource testing to reduce costs, particularly due to rising regulatory requirements, which make in-house testing more expensive. These companies are delegating responsibilities to independent third parties to ensure regulatory compliance while focusing on core activities.
Outsourcing is most prominent in the environmental (including agriculture) industry, reaching approximately 60% in 2018. The food & beverage sector follows as the second-largest market for outsourcing services. However, recent trends indicate that the biopharmaceutical and medical devices industry will witness the highest growth rate in outsourcing services.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐:
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
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐ฒ๐ฉ๐
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
๐๐ฒ๐ฉ๐ ๐จ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
Elemental Analysis
Organic Analysis
Isotopic Analysis
Particle size analysis
Mineralogical Analysis
Metallurgical Analysis
Petroleum Petrochemical
Biomedical and Biopharmaceutical Analysis
Others
๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
Food & Beverage
Pharmaceutical, Medical Devices
Environmental
Energy (Oil & Gas)
Mining & Minerals
Chemical & Commodities
Heavy Industry
๐๐๐ญ ๐๐ก๐ข๐ฌ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ, ๐๐ง๐ฌ๐ญ๐๐ง๐ญ๐ฅ๐ฒ:
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๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
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๐๐จ๐ง๐ญ๐๐๐ญ:
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