Report Code: A13235 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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Testing and analysis services play an important role to ensure products and materials are safe for consumer use and for environment. These services protect consumers and environment from hazardous chemicals. Testing and analysis services analyses every product as per the regulations from specific governments and ensure the amount of content in products. These services help end users augment manufacturing efficiency, enable local procedures to meet global standards, and help companies to manage their risks.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Coronavirus disease 2019 (COVID-19) has created an economic crisis in addition to the healthcare crisis. COVID-19 pandemic has stretched healthcare system worldwide; developed countries are expected to cause economic recession. The pandemic has an adverse impact on the healthcare system, resulting in 50% to 70% drop in revenue from March. Many small hospitals, clinics, and nursing homes, have been forced to shut their operations. In addition, social distancing and localized curfews have resulted in delayed elective surgical procedures. Further, visa cancellations have led to an interruption in medical tourism and can negatively impact the healthcare services market growth.
Top Impacting Factors
Market Trends
New Product Launches and Business Expansion Strategies
In 2020, LabCorp’s Drug Development Business announced launch of preclinical, clinical, post approval cell, and gene therapy drug testing and analysis service solutions.
In 2019, Eurofins Scientific announced merger with Transplant Genomics Inc to expand their testing footprint services.
In 2019, Frontage Labs partnered with Johnson & Johnson corporate Services Inc. to expand their healthcare analytical testing services in Canada and west coast of North America.
In 2019, SGS announced mergers with Chemical Solutions Ltd, a testing laboratory specialized in elemental and heavy metal testing for foods, nutraceuticals, pharma, and cosmetic products.
Key Benefits of the Report
Questions Answered in the Testing and Analysis Services Market Report
Testing and Analysis Services Market Report Highlights
Aspects | Details |
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By Sample Type |
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By Service Provider |
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By Applications |
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By End User |
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By Region |
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Key Market Players | Micro Analysis, Maxxam, Midwest Microlab, Galbraith Laboratories, Lucedeon, Limited Liability Company(LLC), Intertek Group, Eurofins Scientific Group, Element Materials Technology, Elemental Analysis Inc, NSL Analytical Services, EAG, Activation Laboratories, Acuren |
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