Dietary supplement testing services refer to a range of analyses to ensure the quality, safety and compliance of dietary supplements. Dietary supplement testing analyzes the dietary supplement for the containing vitamins, minerals, amino acids and others.
The dietary supplement testing services market consists of sales, by entities (organizations, sole traders or partnerships), of dietary supplement testing services involve laboratory testing of consumer-ready supplements to identify all of the ingredients in the supplement and the ingredient's potency.
The global dietary supplement testing services market was valued at $1,642.57 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 10.00%.
Government Initiatives for Healthcare
Government initiatives for research and development in healthcare propelled growth of the dietary supplement testing services market. Government initiatives refer to specific actions, programs, policies or projects undertaken by government authorities at various levels (local, regional, national or international) to address specific issues, achieve certain goals or create positive changes in society. Government initiatives play a vital role in shaping the landscape of dietary supplement testing services by establishing regulations, funding research, promoting public awareness, implementing quality assurance programs and fostering international collaboration. For instance, in 2022, according to the Department of Health and Social Care (DHSC), a UK-based government authority, the UK government announced £260 million ($270.65 million) in funding to boost healthcare research and manufacturing. This was committed by BEIS (Department for Business, Energy and Industrial Strategy) and DHSC to support NHS (National Health Service)-led health research into diagnostics and treatment through new privacy-preserving platforms and clinical research services and £60 million ($63.6 million) to help expand life sciences manufacturing in the UK. Therefore, government initiatives for research and development in healthcare drove the growth of the dietary supplement testing services market.
Development Of Contaminant Testing Platforms
Companies operating in the dietary supplement testing services market are focusing on developing new contaminant testing platforms to strengthen their position in the market. For instance, in January 2024, Alkemist Labs, a US-based botanical identity testing with expanded capabilities in phytochemical potency analysis provider, announced the launch of two new contaminant testing platforms. The two new contaminant testing platforms are the Residual Solvents Testing Platform and the Microbiological Testing Platform. The new platforms are part of the company's ongoing efforts to expand its service offerings and provide more comprehensive testing solutions for the natural products industry. These testing services are essential for dietary supplement manufacturers to ensure the quality and safety of their products. The addition of microbiological and residual solvents testing platforms, along with the existing pesticides and heavy metals testing, provides a comprehensive suite of testing services for clients.
The global dietary supplement testing services market is fairly concentrated, with a few large players dominating in the market. The top ten competitors in the market made up to 29.2% of the total market in 2022.
Dietary Supplement Testing Services Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global dietary supplement testing services market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for dietary supplement testing services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The dietary supplement testing services market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider dietary supplement testing services market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by service, by ingredient, by service provider and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the dietary supplement testing services market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by service, by ingredient, by service provider and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies-Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for dietary supplement testing services providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Service: Stability Testing; Analytical Testing; Microbiological Testing; Regulatory Testing And Compliance; Other Services
- 2) By Ingredient: Herbal; Vitamins; Minerals; Amino Acids; Enzymes; Other Ingredients
- 3) By Service Provider: Testing Laboratories; Contract Research Organizations (CROs); Regulatory Consultants; Other Service Providers
- 4) By End-User: Manufacturers; Contract Manufacturers; Distributors; Regulatory Bodies
- Companies Mentioned: Eurofins Scientific SE; Quest Diagnostics Inc.; UL LLC (Underwriters Laboratories); Herbalife Nutrition Ltd.; Covance Laboratories Inc.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia.
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; dietary supplement testing services indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.