Service Laboratory Market: 6.20% CAGR to $148.38 Billion

Service Laboratory Market Size Worth $148.38 Billion By 2032 | CAGR: 6.20%


The global service laboratory market size is expected to reach USD 148.38 billion by 2032, according to a new study by Polaris Market Research. The report “Service Laboratory Market Share, Size, Trends, Industry Analysis Report, By Service Type (Repair, Support & Maintenance, Testing & Validation, and Others); By Deployment; By End User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A rapidly developing discipline, the digital transformation of laboratories profoundly alters the way labs are created, constructed, and operated from the ground up. This revolution is being fueled by a number of technologies, including laboratory information management systems (LIMS) and artificial intelligence (AI). Overall, digitization offers laboratories the chance to strengthen their research skills, collaborate better, work more efficiently, and advance science. Electronic lab notebooks (ELNs) and other advances in digital technology are already assisting in the digitalization of laboratories and enhancing the precision and reproducibility of scientific research. Such fueling digitalization is contributing to the development of services in laboratories and broadening global revenue.

Advances in technology, such as automation, robotics, data analytics, and artificial intelligence, are transforming laboratory operations. These innovations enhance efficiency, accuracy, and productivity in laboratory processes, leading to increased demand for services that cater to these technologies. Laboratories often require expert assistance and specialized services to adopt and optimize these advanced technologies.

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Many companies and research institutions are outsourcing their laboratory services to external service providers as a strategy to reduce costs and improve efficiency. Outsourcing allows organizations to focus on their core competencies while relying on specialized laboratories for specific testing, analysis, and research needs. This trend drives the demand for service laboratories that offer a wide range of services and expertise. Furthermore, with increasing globalization and cross-border trade, the need for standardized testing and certification has grown significantly. Service laboratories play a crucial role in providing internationally recognized testing and analysis services to ensure compliance with global standards. It is particularly important in sectors such as manufacturing, consumer goods, and pharmaceuticals, where adherence to quality and safety regulations is essential.

Service Laboratory Market Report Highlights

  • The repair segment held the largest market share in 2022 due to its ability to prolong equipment lifespan, specialized expertise, and minimize downtime.
  • The cloud segment accounted for the highest market share during the forecast period due to its benefits like scalability and flexibility.
  • The life science segment dominated the global market in 2022 due to the growing demand for research and development across many regions.
  • North America dominated the largest share in 2022 and remains a lucrative market for service laboratories. It is linked to increasing numbers of laboratories and growing research and development in the region.
  • The global players include Carl Zeiss SMT, Direct Electron, FEI Company, Hitachi High-Technologies, Intertek Group, JEOL, Moody Labs, Nanolab Technologies, and Tuscan.

Polaris Market Research has segmented the Service Laboratory market report based on service type, deployment, end user, and region:

Service Laboratory, Service Type Outlook (Revenue - USD Billion, 2019-2032)

  • Repair
  • Support & Maintenance
  • Testing & Validation
  • Others

Service Laboratory, Deployment Outlook (Revenue - USD Billion, 2019-2032)

  • On premises
  • Cloud

Service Laboratory, End User Outlook (Revenue - USD Billion, 2019-2032)

  • Industrial- Oil & Gas, Metal & Mining, Automotive, Chemical, Pharmaceutical
  • Electronics- Semiconductor Manufacturing, Microelectronics and MEMs
  • Life Science
  • Healthcare
  • Others

Service Laboratory, Regional Outlook (Revenue - USD Billion, 2019-2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Service Laboratory Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 91.36 billion

Revenue forecast in 2032

USD 148.38 billion

CAGR

6.20% from 2024 – 2032

Base year

2023

Historical data

2019– 2022

Forecast period

2024– 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Service Type, By Deployment, By End User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization    

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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