Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.4 % over the past five years, to reach an estimated $31.6bn in 2024.
Trends and Insights
Recessionary fears have somewhat hindered downstream demand
- The Federal Reserve has increased interest rates since 2022 to bring inflation down. As a result, it's become more expensive for individuals to purchase property, engage in home improvements and buy a slew of different items.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Solid economic conditions will foster stable revenue growth
- Despite challenges related to high inflation, rising interest rates and recessionary fears, the US economy is expected to expand during the outlook period.
Biggest companies in the Laboratory Testing Services in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Intertek Group Plc | 1,772.3 | 306.8 | 17.3 | |
Eurofins Scientific | 804.5 | 115.3 | 14.3 | |
Bureau Veritas S A | 405.4 | 46.2 | 11.4 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Agricultural and food product testing, Environmental and biological testing and Commercial and construction testing. Agricultural and food product testing is the largest segment of the Laboratory Testing Services in the US.
Trends and Insights
Commercial and construction testing evaluates buildings and industrial machinery
- Commercial and construction testing services include the testing of construction material, industrial machinery and other manufacturing products and equipment.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Companies in this industry perform physical, chemical and other analytical testing for commercial purposes. Such testing may occur in a laboratory or an on-site facility (i.e. where the product is manufactured or developed). Most results from industry-led tests are checked against government regulations and environmental, industrial and product standards.
What's included in this industry?
Commercial and construction testingEnvironmental and biological testingAgricultural and food product testingForensic testingGeotechnical testingX-ray inspectionTechnical consultancyCompanies
Intertek Group PlcEurofins ScientificBureau Veritas S APurchase this report to view all 4 major companies in this industry.
Related Terms
RESEARCH AND DEVELOPMENT (R&D)OUTSOURCECERTIFICATIONCALIBRATIONGEOTECHNICAL ENGINEERINGIndustry Code
NAICS 339116 - Laboratory Testing Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry has benefited from increased government regulation on consumer and food products, higher retailer standards and evolving consumer preferences. Soaring corporate ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Larger testing laboratories often provide unrelated services to businesses in multiple downstream sectors. Smaller labs, however, prefer to specialize in a particular service...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Testing laboratories are often located near their customers to respond quickly and meet local regulations. This is crucial for providing fast and compliant services.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Obtaining an accreditation can help laboratory testing companies retain clients and gain new business. Customers favor laboratories that have accreditation because they rely ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
No single company accounts for more than 5.0% of revenue since market share concentration is low. Each company has its specialization, serving a specific group of customers o...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Intertek Group Plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Eurofins Scientific's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Bureau Veritas S A's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Intertek Group Plc, and factors influencing its performance in the industry
- Description and key data for Eurofins Scientific, and factors influencing its performance in the industry
- Description and key data for Bureau Veritas S A, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Laboratory testing companies are subject to regulations set by government agencies and international groups. This includes documentation and record-keeping standards along wi...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit among laboratory testing companies closely follows economic trends. When economic conditions are favorable, increased spending and industrial activity boost revenue, w...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Laboratory Testing Services in the US industry in United States in 2024?
The market size of the Laboratory Testing Services in the US industry in United States is $31.6bn in 2024.
How many businesses are there in the Laboratory Testing Services in the US industry in 2024?
There are 9,417 businesses in the Laboratory Testing Services in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Laboratory Testing Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Laboratory Testing Services in the US industry in United States has been growing at a CAGR of 2.4 % between 2019 and 2024.
What is the forecast growth of the Laboratory Testing Services in the US industry in United States over the next 5 years?
Over the next five years, the Laboratory Testing Services in the US industry in United States is expected to grow.
What are the biggest companies in the Laboratory Testing Services in the US market in United States?
The biggest companies operating in the Laboratory Testing Services market in United States are Intertek Group Plc, Eurofins Scientific and Bureau Veritas S A
What does the Laboratory Testing Services in the US in United States include?
Commercial and construction testing and Environmental and biological testing are part of the Laboratory Testing Services in the US industry.
Which companies have the highest market share in the Laboratory Testing Services in the US in United States?
The company holding the most market share in United States is Intertek Group Plc.
How competitive is the Laboratory Testing Services in the US industry in United States?
The level of competition is moderate and increasing in the Laboratory Testing Services in the US industry in United States.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Manufacturing in the US
- Construction in the US
Complementors
- Environmental Consulting in the US
- Scientific Research & Development in the US
- Remediation & Environmental Cleanup Services in the US
- Diagnostic & Medical Laboratories in the US
International industries
- Laboratory Testing Services in Canada
- Materials Testing Services in Australia
- Technical Testing & Analysis in the UK
- Architectural, Engineering & Related Services in Mexico
View all industries in United States
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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