Global Testing Laboratories Market to Reach $77 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Testing Laboratories market. The global market for Testing Laboratories is forecast to reach $77 billion by the year 2017. Rising customer interest in safety of food and other products, increasing number and stringency of regulations for assessing safety of products are some of the key factors driving growth in the testing laboratories market. Factors such as globalization as well as large diversity of products are fuelling growth in the testing laboratories market.

Testing Laboratories: A Global Strategic Business Report

San Jose, California (PRWEB), April 18, 2011 -- Number as well as the size of testing laboratories worldwide, especially in developed markets such as the US, has been on the rise over the past several years. A major factor that led to this substantial growth is the increase in product testing numbers. Increasing consumer demand, globalization in sourcing and distribution, and the existence of significant diversity of products are providing substantial impetus to product testing and certification. Other factors contributing to growth in product testing numbers include rising cost of product liability insurance, lack of comparable testing facilities within smaller facilities, and continued interest from large corporations to rely on independent testing facilities for securing independent results.

Growing concerns over safety of food and other products, and the subsequent implementation of regulations that necessitated testing of ingredients used in these products led to the emergence of a new industry during the twentieth century– Testing Laboratories. During this time, several testing laboratories sprouted, especially in regions that had necessary legislations that mandated specific safety standards. Historically, though, the testing laboratories industry witnessed gradual changes to include new types of laboratories that moved in tandem with evolving customer concerns. From food and radiation, the industry witnessed the development of laboratories for environment during the latter part of the century. This has not only resulted in the expansion of services at the existing laboratories for offering new services but also led to establishment of new laboratories that specialized in a particular area. Today, various countries have myriad regulations for drugs, food, equipment, and other general products, and emergence of laboratories that offer testing for various hazards and substances has propelled testing laboratories into an industry in its own right.

Testing laboratories facilitate in performing Chemical testing, Physical testing, and Analytical testing, including vibration or acoustics testing, biological testing, electronic and electrical testing, mechanical testing, certification and calibration testing, food testing; seed testing; thermal testing, product testing; geotechnical testing, and nondestructive testing, among others.

Europe leads the global testing laboratories market, as stated by the new market research report on Testing Laboratories. The US follows in the second place. However, growth is expected to emanate from Asia-Pacific, which is forecasted to increase at a compounded annual growth of more than 9.0% during the analysis period.

Although demand for laboratory testing services largely relies on R&D spending from government and industry aimed at developing novel products and services, and in enhancing operational efficiencies, profitability in this labor-intensive industry depends largely on technical expertise of independent companies. Large companies possess an edge over smaller companies through providing a wide array of services from multiple sites as well as from strategic alliances with major corporations. Meanwhile, competitiveness of smaller laboratories lies in their focus on certain specific services. Major players profiled in the report include Bureau Veritas Group, ELCA Laboratories, Eurofins Scientific Group, Food Analytical Laboratories Ltd., Foodtest Laboratories Ltd., GeneScan Europe AG, GEO Laboratory Testing Services Ltd., Geotechnical Engineering Ltd., American Industrial Testing Services, Intertek Group Plc., Landauer Inc., MET Laboratories Inc., National Technical Systems Inc., NGC Testing Services, Retlif Testing Laboratories, Underwriters Laboratories Inc., among others.

The research report titled “Testing Laboratories: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the Testing Laboratories markets, overview of the different types of testing laboratories, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides revenue estimates and projections for Testing Laboratories services for years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Testing_Laboratories_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
E-mail: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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