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2025 U.S. Industry Statistics & Market Forecast - Testing Laboratories and Services
Market Size & Industry Statistics
The total U.S. industry market size for Testing Laboratories and Services:
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 | 2020 2021 2022 2023 2024 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Testing Laboratories and Services industry include:- Increased regulatory requirements
- Growth in personalized medicine
- Technological advancements in testing equipment
- Demand for outsourcing to reduce costs
- Expansion into emerging markets
- Adoption of automation and AI technologies
- Stringent quality control standards
- Rising focus on environmental and sustainability testing
- Growth in the biotechnology and pharmaceutical sectors
- Cybersecurity challenges in lab data management
- Shift towards genomic and genetic testing
- Integration of big data analytics
Product & Services Breakdown
Research products and services in the Testing Laboratories and Services 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 |
|---|---|---|---|
Industry Total |
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Testing Services (Physical Or Product), Excluding Medical And Veterinary Services |
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Testing Services - Agricultural |
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Testing Services - Food |
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Testing Services - Waste Testing Services (Include Solid And Hazardous Waste.) |
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Testing Services - Soil, Rock, And Sludge (Include Geotechnical Testing.) |
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Testing Services - Pharmaceutical, Medical Devices, And Personal Care Products |
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Testing Services - Construction Materials Testing And Inspection Services |
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Testing Services - Machinery And Equipment |
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Testing Services - Metallic And Non-Metallic Minerals And Products |
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Testing Services - Water |
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Testing Services - Air (Include Radon And Sick-Building Testing.) |
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Testing Services - Asbestos |
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Other Testing Services |
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Calibration Of Instruments And Reference Materials |
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Product Certification Services |
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Commercial Inspection Services |
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Consulting Services For Testing And Related Fields (Include Expert Witness Services.) |
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Engineering Services |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market 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 (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Testing Laboratories and Services 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 and Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Testing Laboratories and Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| 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. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation 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 |
|---|---|---|---|---|
| Management Occupations | 10% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 4% | |||
| Business and Financial Operations Occupations | 6% | |||
| Business Operations Specialists | 5% | |||
| Architecture and Engineering Occupations | 21% | |||
| Engineers | 12% | |||
| Drafters, Engineering Technicians, and Mapping Technicians | 9% | |||
| Engineering Technologists and Technicians, Except Drafters | 8% | |||
| Life, Physical, and Social Science Occupations | 24% | |||
| Physical Scientists | 7% | |||
| Life, Physical, and Social Science Technicians | 14% | |||
| Chemical Technicians | 6% | |||
| Chemical Technicians | 6% | |||
| Office and Administrative Support Occupations | 11% | |||
| Production Occupations | 16% | |||
| Other Production Occupations | 13% | |||
| Inspectors, Testers, Sorters, Samplers, and Weighers | 13% | |||
| Inspectors, Testers, Sorters, Samplers, and Weighers | 13% | |||
Testing Laboratories and Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Testing Laboratories and Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Testing Laboratories and Services industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Testing Laboratories and Services industry. |
Source:
Latest Industry News
- Toxicology lab to pay over $4 million after allegations of unnecessary tests and Medicare claims - A Toxicology lab with several medical practices in Michigan will pay over $4.4 million to settle claims of unnecessary testing and submitting Medicare claims for reimbursement for those test. (01/04/2025)
- Inside the lab that tests food, detects salmonella and analyses athletes’ urine samples - Scientists at the National Measurement Institute test about 30,000 samples a year, predominantly food for nutritional value, allergens, safety or place of origin. (01/04/2025)
- NH destroyed firefighting foam full of PFAS chemicals. Now a lab is testing the results. - The Battelle lab is testing a variety of different materials, including cow liver, pasta, and fishing line, for PFAS chemicals. In the Battelle lab, Pala showed off all the items his team is starting to test for PFAS: cow liver, cookies, pasta, cat food, fabric. A whole bucket of frozen fish. (01/04/2025)
- Toxicology lab ordered to pay $4.425M settlement over unnecessary testing - GRAND RAPIDS, Mich. (WILX) - A Florida-based toxicology lab has agreed to pay $4,425,000 in a settlement over medically unnecessary drug testing and submitting claims for reimbursement. (01/03/2025)
- Florida lab to pay $4M over claims of ‘unnecessary drug testing’ in Michigan - A medical testing laboratory based out of Tampa, Florida has agreed to pay over $4 million to resolve allegations that the company ordered "medically unnecessary urine drug testing and hormone testing. (01/03/2025)
- OhioHealth outsourcing some lab work to Quest Diagnostics - OhioHealth Corp. has outsourced some lab work to Quest Diagnostics Inc., part of a growing healthcare trend. Quest (NYSE:DGX) paid $200 million cash to Central Ohio's largest hospital system for "select assets of the outreach laboratory services business," according to its most recent quarterly report. (01/03/2025)
- Fire prompts evacuation, some decontamination at Biosafety lab in Montgomery County - A fire involving a bio safety sterilizer insider a recently opened testing lab that inRockville, Maryland late 2024 was evacuated Thursday after a fire (01/02/2025)
- FDA Sued Over Laboratory Developed Tests Final Rule - The Food and Drug Administration (FDA) is being sued in two lawsuits after releasing its Final Rule on Laboratory Developed Tests (LDTs). The (12/31/2024)
- Dr. Sandip Shah Appointed Chairperson of NABL, Promises New Era in Testing and Calibration Quality Standards - A Visionary Leader in Diagnostics and Healthcare Innovation to Strengthen India's Quality Assurance Framework. (12/27/2024)
- Clinical Medical Laboratory Services Market Strategy, Trends and Forecasts Report 2025-2029 with Situation Analysis and Executive & Consultant Guides - Make investment decisions and valuations with confidence using the latest data.Dublin, Dec. 26, 2024 (GLOBE NEWSWIRE) -- The "Clinical Medical Laboratory Services Market 2025-2029 - Strategy & Trends with Forecasts by Assay Type, (12/26/2024)
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