Testing Laboratories: A Global Strategic Business Report
San Jose, California (PRWEB) March 29, 2012
Follow us on LinkedIn – Testing laboratories, over the years, has witnessed gradual changes to include new types of laboratories to meet diverse customer demands. With rapidly evolving needs of clients and changing society concerns, the scope of the testing laboratories market has vast extended to include environmental testing, welded joint radio graphing, X-ray inspection service, automobile proving ground, pollution testing, among others. This has not only resulted in the expansion of services at the existing laboratories for offering new services, but has also led to establishment of new laboratories that specialized in a particular area. Resultantly, the market for testing laboratories is forecast to witness steady growth, backed by the myriad regulations adopted by various countries for food, drugs, equipment, and other general products,. The market would also be propelled by globalization, growing consumer demand for safe products, and increasing number and size of testing laboratories globally.
Of all the testing laboratories, Food Testing Laboratories represents one of the most common types of testing laboratories. Food testing no longer remains a subject of concern specific to a certain region, as food products are presently exported and imported virtually throughout the world. Globalization of food products has, in turn, led to the formation of more stringent standards on food products. Besides, the list of components that need to be tested in food products continues to grow, giving ample opportunities for food testing laboratories worldwide. A major challenge that confronts the food testing laboratories is the requirement for acquiring instruments and methods that can detect new compounds and ingredients as issues surface. Other important testing laboratories include those offering Chemical Testing, Physical Testing, and Analytical Testing, including vibration or acoustics testing, biological testing, electronic and electrical testing, mechanical testing, among several others.
Regionally, developed markets, such as the Europe and the US, dominate the testing laboratories industry, as stated by the new market research report on Testing Laboratories. The European Union, which remains the leading importer of food products worldwide, has a major say in global food safety testing market. Making food safety a priority, the EU promotes safety of food products at every stage, ranging from farming to distribution. Asia-Pacific is forecast to exhibit the fastest growth over the coming years, depicting a compounded annual growth of more than 9.5% during the analysis period. Growth is also expected to emanate from other developing markets, such as Latin America and the Middle East.
Internet is expected to make a significant impact on the laboratory services industry. Several players in the industry are eyeing Internet as a potential source to generate new business. Of late, Internet has become a virtual retail space witnessing trading of several types of products. However, such transactions are sight-unseen, thereby laying substantial premium on quality assurances from third-party testing service providers. Resultantly, testing companies assume all the more importance for transactions on the Internet.
Major players profiled in the report include Bureau Veritas Group, ELCA Laboratories, Eurofins Scientific Group, Foodtest Laboratories Ltd., GeneScan Europe AG, Genetic ID, Geotechnical Engineering Ltd., Intertek Group Plc., MET Laboratories Inc., National Technical Systems Inc., NGC Testing Services, SGS S.A., Silliker Inc., TÜVRheinland, Underwriters Laboratories Inc., Wyle Laboratories, 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 market, overview of the different types of testing laboratories, including food safety testing, 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 –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/