Riding on Strong Trends, the Laboratory Testing Services Market Set to Grow At 5.6% CAGR Lagging $139.66 Billion by 2029

Sustained by increasing regulatory compliance, escalating incidences of chronic diseases and a growing emphasis on quality assurance, the laboratory testing services market reveals robust growth and future promise.

What Is The Projected Market Size Of The Global Laboratory Testing Services Market And Its Growth Rate?
• The market grew from $107.18 billion in 2024 to $113.15 billion in 2025, showcasing a compound annual growth rate (CAGR) of 5.6%.
• This growth can be credited to factors like rising regulatory compliance, globalization of trade, increase in chronic diseases, environmental concerns and focus on quality assurance in the food and beverage industry.
• The market is expected to reach $139.66 billion in 2029 at a CAGR of 5.4%, fueled by factors such as increased focus on precision medicine, rapid growth in diagnostic testing, global supply chain challenges, increased outsourcing of testing services, and growing importance of environmental testing.

What Is Driving The Growth In The Laboratory Testing Services Market?
The global rise in chronic and infectious diseases primarily drives growth in the laboratory testing services market. Chronic illnesses last three months or longer and can potentially worsen over time, creating a need for monitoring facilitated by laboratory testing services. These services also play a crucial role in the quality and performance check of new products during design, control quality during manufacturing, calibration of measuring devices and failure analysis. In the USA alone, six out of every ten adults suffer from chronic diseases, as per the Centers for Disease Control and Prevention. The UK Health Security Agency reported a sevenfold increase in measles cases, from 53 in 2022 to 368 in 2023. Therefore, the rising incidence of chronic and infectious diseases is driving the laboratory testing services market's growth.

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Who Are The Key Players Driving Laboratory Testing Services Market Growth?
• Abbott Laboratories
• Siemens Medical Solutions USA Inc.
• Laboratory Corporation of America Holdings
• Quest Diagnostics Inc.
• Eurofins Scientific SE
• SGS US Testing Co Inc.
• Sonic Healthcare Limited
• Bureau Veritas S.A.
• Charles River Laboratories International Inc.
• SYNLAB International GmbH
• Intertek Group plc
• Covance Inc.
• Underwriters Laboratories Inc.
• ARUP Laboratories Inc.
• ALS Limited
• QIAGEN N.V.
• Acuren Group Inc.
• Cerba HealthCare SAS
• OPKO Health Inc.
• Bio-Reference Laboratories Inc.
• NeoGenomics Laboratories Inc.
• Exova Group plc
• Silliker Inc.
• Mérieux NutriSciences S.A.
• Microbac Laboratories Inc.
• US BioTek Laboratories
• American Testing Lab Inc.
• Unilabs Holding A/S
• Element Materials Technology Limited

What Are The Key Trends In The Laboratory Testing Services Market?
• Emerging technologies
• Pharmaceuticals and biotechnology advancements
• Technological advancements
• Collaboration and partnerships
• Focus on precision medicine
• Rise in outsourcing

What Are The Segments Of The Global Laboratory Testing Services Market?
• By Test Type: Clinical Chemistry, Immunology, Cytology, Genetics, Microbiology, Hematology, Other Test Types
• By Application: Bioanalytical And Lab Chemistry Services, Toxicology Testing Services, Cell And Gene Therapy Related Services, Preclinical And Clinical Trial Related Services, Drug Discovery And Development Related Services, Other Applications
• By Service Provider: Stand-Alone Laboratories, Hospital-Based Laboratories, Contract Research Organizations, Other Service Providers

Which Region Leads The Laboratory Testing Services Market?
North America dominated the laboratory testing services market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laboratory testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The Laboratory Testing Services Market Global Market Report?
• Market Size Analysis: Analyze the Laboratory Testing Services Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Laboratory Testing Services Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Laboratory Testing Services Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Laboratory Testing Services Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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