The global service laboratory market size is anticipated to gain substantial growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is projected to surpass a valuation of US$ 52.5 billion in 2023. It is predicted to hit a valuation of US$ 87.5 billion by 2033. The market is foreseen to thrive at a CAGR of 5.2% from 2023 to 2033.
A multitude of factors are anticipated to promote the expansion of the service laboratory sector, including the growing demand for specialized testing and analysis, the rising trend of outsourcing non-core tasks, regulatory compliance requirements, breakthroughs in technology, globalization, and a demand for R&D assistance.
Attribute | Details |
---|---|
Service Laboratory Market Share (2022) | US$ 49.5 billion |
Service Laboratory Market Share (2023) | US$ 52.5 billion |
Service Laboratory Market Share (2033) | US$ 87.5 billion |
Service Laboratory Market Share (2023 to 2033) | 5.2% |
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The global service laboratory industry size developed at a CAGR of 6.1% from 2018 to 2022. In 2018, the global market size stood at US$ 39.0 billion. In the following years, the market witnessed substantial growth, accounting for US$ 49.5 billion in 2022.
Service laboratories offer knowledge and cutting-edge analytical methods to carry out complicated testing and analysis that enterprises do not have the resources or capability to carry out internally. Specialized testing services are becoming more and more essential as sectors including pharmaceuticals, biotechnology, healthcare, environmental protection, and food and beverage keep evolving.
Instead of making large investments in expensive machinery, employing specialist personnel, and upkeep of their facilities, many businesses are preferring to outsource their testing and analysis requirements to service laboratories. This growing trend of outsourcing is predicted to bolster market growth in the coming years. Additionally, technological advancements are predicted to amplify market growth during the forecast period.
Historical CAGR (2018 to 2022) | 6.1% |
---|---|
Forecasted CAGR (2023 to 2033) | 5.2% |
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According to the segmentation based on deployment, the cloud segment is predicted to gain monumental growth during the forecast period. As per FMI, the cloud segment is predicted to exhibit a CAGR of 5.1% from 2023 to 2033.
Platforms for cloud-based service laboratories make it simple to access test data, reports, and results whenever and wherever users are. With real-time data exchange, analysis, and decision-making possible due to this accessibility, laboratory personnel, customers, and stakeholders may work together more effectively. Additionally, it enables remote access to testing services, which is advantageous in circumstances where physical access to the laboratory is constrained or unfeasible. These favorable attributes proliferate cloud-based service laboratory market expansion.
According to the segmentation based on end-user, the life sciences segment is slated to dominate the global market during the forecast period. As per FMI, the life science segment is poised to thrive at a CAGR of 5.0% from 2023 to 2033.
Many organizations might not have access to the expert knowledge and cutting-edge equipment that are frequently required for life science testing on-site. Service laboratories are well-equipped with cutting-edge equipment, sophisticated analytical tools, and highly qualified experts with numerous years of experience in testing in the life sciences. Genomic, proteomic, bioanalytical, toxicological, and clinical diagnostic services are just a few of the ample services that these labs are capable of providing. Increasing research and development in the life science industry is expected to bolster the service laboratory market growth.
According to FMI, China’s market for service laboratories is predicted to expand at 6.7% CAGR from 2023 to 2033, creating an absolute dollar growth worth US$ 10.1 billion by 2033 end.
China's growing middle class has boosted consumer awareness and demand for products of greater quality and safety. This has increased the necessity of product certification and testing to guarantee customer safety and satisfy quality standards. Service laboratories are essential in testing things including food and drink, consumer goods, and electronics to make sure they adhere to regulatory requirements and consumer expectations.
According to FMI, the United States is predicted to thrive at a CAGR of 4.1% from 2023 to 2033, creating an absolute dollar growth worth US$ 4.6 billion by the end of 2033.
The United States maintains strict regulatory standards in various kinds of sectors, including healthcare, pharmaceuticals, the environment, and food safety. Service laboratories provide compliance testing, validation research, and quality control services to help firms comply with these legal requirements. Updates to laws like the CLIA (Clinical Laboratory Improvement Amendments), FDA (Food and Drug Administration) rules, and EPA (Environmental Protection Agency) requirements are recent developments in the United States that have boosted the demand for testing and analysis services. Due to factors including an aging population, an increase in chronic illnesses, and advancements in medical technology, there is a growing demand for healthcare services in the United States, which is anticipated to bolster market growth in the region.
Countries | Forecasted CAGR (2023 to 2033) |
---|---|
United States | 4.1% |
United Kingdom | 3.7% |
China | 6.7% |
Japan | 5.5% |
South Korea | 5.7% |
The competitive landscape of the market is defined by the existence of several key competitors offering a vast array of testing and analysis services. These businesses compete based on characteristics including service offerings, technical prowess, geographic reach, industry knowledge, client connections, and price. Although there are a lot of small and medium-sized service laboratories in the market, there are also bigger firms with a sizable market share and a presence all over the world.
Partnerships, mergers, and acquisitions, as well as other forms of collaboration, have an impact on the competitive environment. Companies might collaborate in strategic partnerships to diversify their service offerings, spread into new geographies, or capitalize on complementary skills. Larger businesses frequently use acquisitions and mergers to increase their consumer bases and obtain access to new technology.
Recent Developments Observed by FMI:
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | US$ Million for Value |
Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa (MEA) |
Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
Key Segments Covered | Service Type, Deployment, Channel, End-user, Region |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The industry is likely to secure a CAGR of 5.2% throughout 2033.
The industry is likely to record a value of US$ 52.5 billion in 2023.
China is predicted to expand at a 6.7% CAGR until 2033.
With a CAGR of 5%, life sciences may dominate the market by 2033.
A CAGR of 6.1% was reported for the market from 2018 to 2022.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Service Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Service Type, 2023 to 2033
5.3.1. Repair
5.3.2. Support & Maintenance
5.3.3. Testing & Validation
5.3.4. Others
5.4. Y-o-Y Growth Trend Analysis By Service Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Service Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Deployment, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment, 2023 to 2033
6.3.1. On-premise
6.3.2. Cloud
6.4. Y-o-Y Growth Trend Analysis By Deployment, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Deployment, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Channel
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Channel , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Channel , 2023 to 2033
7.3.1. OEMs
7.3.2. Third Party Service Provider
7.4. Y-o-Y Growth Trend Analysis By Channel , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Channel , 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By End-User, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-User, 2023 to 2033
8.3.1. Industrial - Oil & Gas, Metal & Mining, Automotive, Chemical, Pharmaceutical
8.3.2. Electronics - Semiconductor Manufacturing, Microelectronics and MEMS
8.3.3. Life Sciences
8.3.4. Healthcare
8.4. Y-o-Y Growth Trend Analysis By End-User, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By End-User, 2023 to 2033
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. MEA
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. The USA
10.2.1.2. Canada
10.2.2. By Service Type
10.2.3. By Deployment
10.2.4. By Channel
10.2.5. By End-User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Service Type
10.3.3. By Deployment
10.3.4. By Channel
10.3.5. By End-User
10.4. Key Takeaways
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Service Type
11.2.3. By Deployment
11.2.4. By Channel
11.2.5. By End-User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Service Type
11.3.3. By Deployment
11.3.4. By Channel
11.3.5. By End-User
11.4. Key Takeaways
12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. United Kingdom
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Service Type
12.2.3. By Deployment
12.2.4. By Channel
12.2.5. By End-User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Service Type
12.3.3. By Deployment
12.3.4. By Channel
12.3.5. By End-User
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. Singapore
13.2.1.5. Thailand
13.2.1.6. Indonesia
13.2.1.7. Australia
13.2.1.8. New Zealand
13.2.1.9. Rest of Asia Pacific
13.2.2. By Service Type
13.2.3. By Deployment
13.2.4. By Channel
13.2.5. By End-User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Service Type
13.3.3. By Deployment
13.3.4. By Channel
13.3.5. By End-User
13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Service Type
14.2.3. By Deployment
14.2.4. By Channel
14.2.5. By End-User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Service Type
14.3.3. By Deployment
14.3.4. By Channel
14.3.5. By End-User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Service Type
15.1.2.2. By Deployment
15.1.2.3. By Channel
15.1.2.4. By End-User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Service Type
15.2.2.2. By Deployment
15.2.2.3. By Channel
15.2.2.4. By End-User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Service Type
15.3.2.2. By Deployment
15.3.2.3. By Channel
15.3.2.4. By End-User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Service Type
15.4.2.2. By Deployment
15.4.2.3. By Channel
15.4.2.4. By End-User
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Service Type
15.5.2.2. By Deployment
15.5.2.3. By Channel
15.5.2.4. By End-User
15.6. United Kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Service Type
15.6.2.2. By Deployment
15.6.2.3. By Channel
15.6.2.4. By End-User
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Service Type
15.7.2.2. By Deployment
15.7.2.3. By Channel
15.7.2.4. By End-User
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Service Type
15.8.2.2. By Deployment
15.8.2.3. By Channel
15.8.2.4. By End-User
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Service Type
15.9.2.2. By Deployment
15.9.2.3. By Channel
15.9.2.4. By End-User
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Service Type
15.10.2.2. By Deployment
15.10.2.3. By Channel
15.10.2.4. By End-User
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Service Type
15.11.2.2. By Deployment
15.11.2.3. By Channel
15.11.2.4. By End-User
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Service Type
15.12.2.2. By Deployment
15.12.2.3. By Channel
15.12.2.4. By End-User
15.13. Singapore
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Service Type
15.13.2.2. By Deployment
15.13.2.3. By Channel
15.13.2.4. By End-User
15.14. Thailand
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Service Type
15.14.2.2. By Deployment
15.14.2.3. By Channel
15.14.2.4. By End-User
15.15. Indonesia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Service Type
15.15.2.2. By Deployment
15.15.2.3. By Channel
15.15.2.4. By End-User
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Service Type
15.16.2.2. By Deployment
15.16.2.3. By Channel
15.16.2.4. By End-User
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Service Type
15.17.2.2. By Deployment
15.17.2.3. By Channel
15.17.2.4. By End-User
15.18. GCC Countries
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Service Type
15.18.2.2. By Deployment
15.18.2.3. By Channel
15.18.2.4. By End-User
15.19. South Africa
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Service Type
15.19.2.2. By Deployment
15.19.2.3. By Channel
15.19.2.4. By End-User
15.20. Israel
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Service Type
15.20.2.2. By Deployment
15.20.2.3. By Channel
15.20.2.4. By End-User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Service Type
16.3.3. By Deployment
16.3.4. By Channel
16.3.5. By End-User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Perkin Elmer
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. BIOTECON DIAGNOSTICS
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Agilent Technologies Inc
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Siemens SA
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Labware Inc
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Thermo Fisher Scientific Inc
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. LabLynx Inc
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Nanolab Technologies Inc
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Cerium Labs
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Exponent
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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