Testing and Analysis Services Market: (By Sample Type: Water, Soil/Sediment, Clay Mineral, Metal Alloy, Biological Sample, Food, Chemicals, Corrosion, Oil and Gas, and Minerals and Ores; By Analysis Type: Elemental, Organic, Isotopic, Particle Size, Mineralogical, Metallurgical, Petroleum and Petrochemical, Biomedical and Biopharmaceutical, and Others; By Industry: Food/Beverages, Pharma/Medical Device, Energy, Minerals, Chemicals and Other Commodities, Environment and Metal and Alloy - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Testing and Analysis Services market size is expected to hit around USD 40.5 billion by 2030 from valued at USD 23.8 billion in 2021 and growing at a CAGR of 6.4% from 2022 to 2030.

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.

Even in these times of dramatic cost cutting across the globe, most of the manufacturers keep spending significant amounts on testing and analytical services in a bid to preserve product quality. In order to promote product development, safety compliance, and quality assurance, all businesses need to spend on testing.

Report Scope of the Testing and Analysis Services Market

Extensive Use across Several End Use Sectors to Bolster Growth of the Market

Products are no longer limited to a single location; instead, they are available globally, meeting international standards. As items must comply to local as well as international standards, global trade has raised test volume several times.

International testing services firms, particularly in Europe, have benefited from increased global commerce. Global commerce has benefited large testing services organizations the most, as multinational manufacturers use the same service providers across multiple locations.

Hundreds of tests for quantitative as well as qualitative product measurements are available in the global testing and analysis services market. The market has been divided into nine broad groups based on the sort of analysis used. In addition to that, each category was subdivided into subgroups based on closely comparable analyses and tests.

Elemental analysis, metallurgical analysis, particle size analysis, mineralogical analysis, petroleum and petrochemical tests, organic analysis, biochemical analysis, isotopic analysis, and other types of analysis/testing are among the most common.

Pharmaceutical and medical device testing, food and beverage, mining and minerals, environmental, and energy are just a few of the sectors that make use of testing and analysis services extensively. Testing materials for compatibility and strength, chemical and composition, food quality and quantification, environmental studies of broad categories of goods, and a variety of additional exclusive as well as non-exclusive testing services are all available in these sectors.

Growing trend of Outsourcing: Key Drivers

• Most of the testing services are conducted in-house and is particularly evident in the life sciences, petrochemical, and chemical industries. Currently, only 45% to 48% of the services are being outsourced, served by independent service providers (companies whose primary business activities are providing testing services). However, the percentage has grown significantly in the past five years. Compared to 2015, the outsourced testing services market has grown more than 5%, and is expected to grow further during the forecast period.
• Large companies are increasingly outsourcing testing in an attempt to reduce costs as the increasing levels of regulations make it progressively costlier to test in-house. These companies are focusing on core activities and passing on responsibilities to independent third parties for regulatory compliance. Outsourcing activities is highest in the environmental (including agriculture) industry; the number has reached approximately 60% in 2018. The food & beverage industry is the second largest market for outsourcing services. However, recent trends suggest that outsourcing services would grow at the highest rate in the biopharmaceutical and medical devices industry.

Manufacturing Migration and Short Product life Cycle

• Higher value-added manufacturing (chemicals, biopharmaceuticals, medical devices, and precious commodities) continues to do reasonably well in most of the developed regions. However, manufacturing of general consumable goods, food, and other commodities has moved to emerging countries in the last decade due to high cost. Although manufacturing migration has little to moderate effect on large companies, it has opened new avenues of income for small companies in the region. Countries such as Vietnam, India, China, Brazil, and Mexico are picking up quite a bit of that work because labor costs are extremely low and these countries have easy access to the global market. Business operations in these countries would help increase revenue as well as brand recognition. Additionally, expanding business in these countries is cheap compared to western countries. Hence, risk on return on investment would be minimal.

High Capital Requirements to Hamper Market

• High capital requirement is one of the major challenge for companies operating in the industry, especially for new market entrant and small size companies. A testing services company usually requires multiple instruments and well trained staff to run business efficiently.
• The instruments may cost in excess of US$ 200,000 even for a small setup. Additionally, other costs such as consumables, premises, and staff would incur significant investment. Depending on the setup and up-front investment, the companies require large capital to sustain the business; a major restrain for small startup business.

Some of the prominent players in the Testing and Analysis Services Market include:

• 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

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Testing and Analysis Services market

Sample Type

• 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

Type of Analysis

• Elemental Analysis
• Organic Analysis
• Isotopic Analysis
• Particle size analysis
• Mineralogical Analysis
• Metallurgical Analysis
• Petroleum Petrochemical
• Biomedical and Biopharmaceutical Analysis
• Others

Industry

• Food & Beverage
• Pharmaceutical, Medical Devices
• Environmental
• Energy (Oil & Gas)
• Mining & Minerals
• Chemical & Commodities
• Heavy Industry

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Testing and Analysis Services industry analysis from 2022 to 2030 to identify the prevailing Testing and Analysis Services industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Testing and Analysis Services industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Testing and Analysis Services industry trends, key players, market segments, application areas, and market growth strategies.