Testing Laboratories Industry AnalysisIdentify industry changes, evaluate the market size, market outlook, trends, key players, and growth opportunities.
|Contents||Standard Report||Premium Report|
|Industry Overview & Outlook|
|Market Size (industry trends)|
|Market Forecast (5-year projection)|
|Revenue per State|
|Salary & Compensation Benchmarks|
|Industry News & Innovators|
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2018 Market Analysis & Industry Outlook: Testing Laboratories
Overview of the U.S. Testing Laboratories IndustryThis section provides answers to key questions about the industry:
- What is the total market size (industry revenue)?
- What is the industry outlook?
- Market Analysis: Is the market growing or declining, and how quickly?
- Are long-term forecasts positive or negative?
- What is the average company size in the industry?
- How many companies are in the industry?
Market Size & Industry StatisticsThe total U.S. industry market size for Testing Laboratories: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
|Statistics||2012 2013 2014 2015 2016 2017|
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|Average Revenue Per Firm|
|Average Employees Per Firm|
Market Forecast[PREMIUM]Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.
|Forecast / Industry Outlook||2017||2018||2019||2020||2021||2022|
|Market Forecast ($ millions)|
|Projected Industry Growth Rate (%)|
Product & Services BreakdownResearch products and services in the Testing Laboratories industry generating sales. Note that products are broken into categories with different levels of classification.
|Product Description||Number of Companies||Sales ($ millions)||Percent of Total Sales|
Testing Services (Physical Or Product), Excluding Medical And Veterinary Services
Testing Services - Agricultural
Testing Services - Food
Testing Services - Waste Testing Services (Include Solid And Hazardous Waste.)
Testing Services - Soil, Rock, And Sludge (Include Geotechnical Testing.)
Testing Services - Pharmaceutical, Medical Devices, And Personal Care Products
Testing Services - Construction Materials Testing And Inspection Services
Testing Services - Machinery And Equipment
Testing Services - Metallic And Non-Metallic Minerals And Products
Testing Services - Water
Testing Services - Air (Include Radon And Sick-Building Testing.)
Testing Services - Asbestos
Other Testing Services
Calibration Of Instruments And Reference Materials
Product Certification Services
Commercial Inspection Services
Consulting Services For Testing And Related Fields (Include Expert Witness Services.)
All Other Receipts
All Other Operating Receipts
U.S. Geographic Distribution: Revenue Statistics by StateMarket Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.
|Industry Average||Percent of Sales|
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|Cost of Goods Sold|
|Pension, profit sharing plans, stock, annuity|
|Rent paid on business property|
|Domestic production activities deduction|
|Compensation of officers|
|Salaries and wages|
|Employee benefit programs|
|Taxes and Licenses|
|Other Operating Expenses|
|Total Operating Expenses|
|EBIT (Earnings Before Interest and Taxes)|
|Earnings Before Taxes|
Financial Ratio AnalysisFinancial ratio information can be used to benchmark how a Testing Laboratories company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.
|Profitability & Valuation Ratios||Industry Average|
|Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Testing Laboratories industry is performing.|
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
|Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
|Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Testing Laboratories measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.
|Liquidity Ratios||Industry Average|
|Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.|
Measures a firm's ability to pay its debts over the next 12 months.
|Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.
|Efficiency Ratios - Key Performance Indicators||Industry Average|
|Measure how quickly products and services sell, and effectively collections policies are implemented.|
|Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
|Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.
Compensation & Salary Surveys for EmployeesCompensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.
|Title||Percent of Workforce||Bottom Quartile||Average (Median) Salary||Upper Quartile|
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|General and Operations Managers||3%|
|Architecture and Engineering Occupations||23%|
|Drafters, Engineering Technicians, and Mapping Technicians||9%|
|Engineering Technicians, Except Drafters||9%|
|Life, Physical, and Social Science Occupations||25%|
|Chemists and Materials Scientists||6%|
|Life, Physical, and Social Science Technicians||16%|
|Office and Administrative Support Occupations||13%|
|Other Production Occupations||11%|
|Inspectors, Testers, Sorters, Samplers, and Weighers||11%|
|Inspectors, Testers, Sorters, Samplers, and Weighers||11%|
Testing Laboratories Industry Market Share [PREMIUM]Largest companies in the industry and related industries, with private company revenue estimates.
|Medical Diagnostic Laboratories||160|
Additional companies, details and innovation scoring in the full report.
Latest Industry News
- Ask SAM: Is water test letter legit? - The solicitation C.S. forwarded to us is from a private company, “DVR Labs c/o Carolina Fresh Water.” It asks some general questions about conditions the consumer may experience, such as chlorine smell, rust stains, water spots, rotten egg smell ... (01/10/2018)
- Point-of-Care Testing Market Expecting CAGR of +8.4% an Outstanding Growth with Key Players Analysis Report Till 2024 - dbmr=point-care-testing-poct-market Nature of business ... Abbott Administration Inc. (Delaware), Abbott Home Infusion Services, Inc. (New York), Abbott Laboratories International Co. (Illinois), Abbott Australasia Pty Ltd.(Australia), Murex Diagnostics ... (01/10/2018)
- Received an at-home DNA test as a holiday gift? Proceed with caution - Some genetic-testing companies encouraged the purchase of kits as holiday gifts — even offering free gift wrapping. Dr. Wayne Grody, director of the UCLA Molecular Diagnostic Laboratories and Clinical Genomics Center and a professor of pathology ... (01/10/2018)
- Blessing Hospital says new Legionella testing method coming soon - The statement said the hospital has been using a testing method that sent specimens to an "outside national laboratory for analysis." Dr. Nirav Shah, director of the Illinois Department of Public Health, testified Tuesday during a joint hearing of the ... (01/10/2018)
- China Food and Drug Administration (CFDA) approves Biomerica colorectal screening test to help identify the early warning signs of colorectal cancer - The test does not require handling of stool or dietary restrictions ... used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. (01/10/2018)
- Bornite Metallurgical Test Work Demonstrates High Quality Copper Concentrate Grades and Recoveries - Test work has been completed at SGS Laboratories in Burnaby, British Columbia, which is independent of Trilogy Metals. Test work followed industry standard methods and procedures commonly used for the design and development of copper recovery processes ... (01/10/2018)
- IDEXX Launches SDMA in the Point of Care with IDEXX Catalyst® SDMA Test - IDEXX first launched the IDEXX SDMA Test at its reference laboratories in 2015, and has run more than 12 million SDMA patient tests, creating the world's largest database on kidney disease in dogs and cats. The IDEXX SDMA Test is a kidney test proven to ... (01/10/2018)
- New York City Plans New, $400 Million Public-Health Lab - As a result, a decommissioned parasitology lab is used as a break room. Technicians now work in spaces that often have poor access to testing equipment, forcing them to package up their samples just so they can go down the hall or to another floor to get ... (01/09/2018)
- Bend testing lab buys stake in Berkeley firm - A Bend-based marijuana testing and consulting company has acquired a majority interest in a California testing lab. Evio Inc., which owns a testing lab in Bend on O.B. Riley Road, announced its acquisition of C3 Labs LLC on Tuesday, a day after legal ... (01/02/2018)
Government ContractsIn 2016, the federal government spent a total of $370,935,792 on Testing Laboratories. It has awarded 6,779 contracts to 1,308 companies, with an average value of $283,590 per company.
Top government vendors:
|Company||Federal Contracts||Total Award Amount|
Growth Opportunities / Competitive ThreatsCompanies in other industries may also sell similar products. Since there is an overlap in the customer base, there may be an opportunity for companies in Testing Laboratories to sell additional products/services offered by these adjacent industries. Alternatively, these industries may identify further products in this industry to target. Products most at risk are those with the highest profit margins and lowest barriers to entry.
The following industries are competing channels for sales of similar products/services.
|Competing Industry||Sales Relative to Testing Laboratories||Opportunity/Threat|
|Research & Development in the Physical, Engineering & Life Sciences|
|Custom Computer Programming & Software Development Services|
|Surveying & Mapping Services|
Since sales from Testing Laboratories are a small fraction compared to other industries selling Engineering Services, companies in the Testing Laboratories industry have the opportunity to expand their product offering to take share from these adjacent industries.
Engineering Services Product Sales Report
Segments classified within this market research reportThis industry market research report includes companies whose primary business is any of the following:
Biological (except medical, veterinary) testing laboratories or services, Assaying services, Radiation dosimetry (i.e., radiation testing) laboratories or services, Laboratory testing (except medical, veterinary) services, Electrical testing laboratories or services, Non-destructive testing laboratories or services, Soil testing laboratories or services, Fire insurance underwriters' laboratories, Industrial testing laboratories or services, Pollution testing (except automotive emissions testing) services, Radiography inspection services, Radiation testing laboratories or services, Radiographing welded joints on pipes and fittings, Environmental testing laboratories or services, Hydrostatic testing laboratories or services, Film badge testing (i.e., Radiographic testing laboratories or services, Acoustics testing laboratories or services, Metallurgical testing laboratories or services, Radon testing laboratories or services, Geotechnical testing laboratories or services, Calibration and certification testing laboratories or services, Testing laboratories (except medical, veterinary), Electronic testing laboratories or services, Seed testing laboratories or services, Thermal testing laboratories or services, Mechanical testing laboratories or services, Automobile proving and testing grounds, Vibration testing laboratories or services, Forensic (except medical) laboratories or services, Food testing laboratories or services, X-ray inspection services, Product testing laboratories or services, etc.