The Laboratory Testing Services Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Laboratory Testing Services Market?
The market size for laboratory testing services has experienced robust growth recently. The market is projected to increase from $107.18 billion in 2024 to $113.15 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.6%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Laboratory Testing Services Industry?
The Laboratory Testing Services Global Market is predicted to grow to a size of $139.66 billion in 2029. The projected compound annual growth rate (CAGR) for this period is 5.4%.
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What are the Key Growth Drivers Fueling the Laboratory Testing Services Market?
The key drivers in the laboratory testing services market are:
• Increased focus on precision medicine
• Rapid growth in diagnostic testing
• Increased outsourcing of testing services
• Growing importance of environmental testing
Global Market Segmentation: Identifying Major Laboratory Testing Services Industry Segments
The laboratory testing services market covered in this report is segmented –
1) By Test Type: Clinical Chemistry, Immunology, Cytology, Genetics, Microbiology, Hematology, Other Test Types
2) By Application: Bioanalytical And Lab Chemistry Services, Toxicology Testing Services, Cell And Gene Therapy Related Services, Preclinical And Clinical Trial Related Services, Drug Discovery And Development Related Services, Other Applications
3) By Service Provider: Stand-Alone Laboratories, Hospital-Based Laboratories, Contract Research Organizations, Other Service Providers
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What are the Emerging Trends Shaping the Future of the Laboratory Testing Services Market?
The key trends in the laboratory testing services market are:
• The future of laboratory testing services market is being shaped by emerging technologies.
• Advancements in pharmaceutical and biotechnology are a significant trend.
• Collaboration and partnership are increasingly becoming a noteworthy trend.
• There is a growing focus on precision medicine and rise in outsourcing.
Who Are the Top Competitors & Leading Players in the Laboratory Testing Services Market?
Major companies in the laboratory testing services market are:
• Abbott Laboratories
• Siemens Medical Solutions USA Inc.
• Laboratory Corporation of America Holdings
• Quest Diagnostics Inc.
• Eurofins Scientific SE
• SGS US Testing Co Inc.
• Sonic Healthcare Limited
• Bureau Veritas S.A.
• Charles River Laboratories International Inc.
• SYNLAB International GmbH
• Intertek Group plc
• Covance Inc.
• Underwriters Laboratories Inc.
• ARUP Laboratories Inc.
• ALS Limited
• QIAGEN N.V.
• Acuren Group Inc.
• Cerba HealthCare SAS
• OPKO Health Inc.
• Bio-Reference Laboratories Inc.
• NeoGenomics Laboratories Inc.
• Exova Group plc
• Silliker Inc.
• Mérieux NutriSciences S.A.
• Microbac Laboratories Inc.
• US BioTek Laboratories
• American Testing Lab Inc.
• Unilabs Holding A/S
• Element Materials Technology Limited
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the laboratory testing services market in 2024
