$10.6bn
$XXX.Xm
62,967
5,905
$X.Xbn
The need for accelerated vaccine development and treatment options led to a construction boom in the life-sciences sector amid the pandemic. Companies and institutions rushed to create state-of-the-art research spaces, resulting in over 31.0 million square feet of new labs built by the fourth quarter of 2021. Still, interest rate hikes slowed this growth. Industry revenue has been decreasing at a CAGR of 1.4% over the past five years to total an estimated $10.6 billion in 2024, including an estimated decrease of 2.2% in 2024.
Industry revenue has declined at a CAGR of 1.4 % over the past five years, to reach an estimated $10.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
LCS Constructors | 37.0 | 0.9 | 2.4 | |
The Walsh Group Ltd. | 13.9 | 0.3 | 2.4 | |
The Whiting-Turner Contracting Company | 5.6 | 0.1 | 2.4 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including New construction, Additions and renovations and Repair and maintenance. New construction is the largest segment of the Laboratory Design & Build Contractors in the US.
Contractors faced volatility in new work
This industry designs and builds laboratories for customers. Design considerations include minimizing cost, choosing a suitable location, hazardous chemical storage, adhering to federal regulations and providing explosion-proof electrical fixtures of walls. Construction includes new construction and laboratory relocations, additions or renovations.
Purchase this report to view all 3 major companies in this industry.
NAICS 54131 - Laboratory Design & Build Contractors in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The pandemic spurred new construction, with much of this growth from the life-science market. Interest rate hikes led clients to prefer smaller, cheaper projects, cutting rev...
Learn about an industry's products and services, markets and trends in international trade.
Growth from new construction projects has been volatile. Contractors saw a surge in life science laboratory builds post-COVID, but expenditures have dropped following vaccine...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Contractors heavily concentrate in the West. Many higher education and life science research institutions in California encourage this establishment. This support bolsters th...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition among lab design and build contractors is stiff. They vie to submit the lowest bid in a fierce, price-based rivalry, all seeking to secure coveted contracts.
Learn about the performance of the top companies in the industry.
The industry is notably fragmented. Larger companies often outsource to subcontractors, while small ones form consortiums to boost negotiation power and secure more significa...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Contractors must meet rigorous design guidelines. This is especially true for labs, where ventilation, cooling and safety systems are critical. More detailed specifications e...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Laboratory design and build contractors are struggling with dropping profits caused by sluggish growth and fierce price competition. In addition, soaring labor costs amid wor...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Laboratory Design & Build Contractors in the US industry in United States is $10.6bn in 2024.
There are 5,905 businesses in the Laboratory Design & Build Contractors in the US industry in United States, which has grown at a CAGR of 2.5 % between 2019 and 2024.
The market size of the Laboratory Design & Build Contractors in the US industry in United States has been declining at a CAGR of 1.4 % between 2019 and 2024.
Over the next five years, the Laboratory Design & Build Contractors in the US industry in United States is expected to grow.
The biggest companies operating in the Laboratory Design & Build Contractors market in United States are LCS Constructors, The Walsh Group Ltd. and The Whiting-Turner Contracting Company
Laboratory additions and remodeling and New laboratory construction are part of the Laboratory Design & Build Contractors in the US industry.
The company holding the most market share in United States is LCS Constructors.
The level of competition is high and steady in the Laboratory Design & Build Contractors in the US industry in United States.