Scientific Research & Development Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 2/26/2024
SIC Codes: 8731, 8732, 8733
NAICS Codes: 5417
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Scientific Research & Development Services Industry Profile

Companies in this industry conduct research or apply research findings to develop new products or processes in a variety of fields, including life sciences, physical sciences, engineering, social sciences, and the humanities. Major companies include Argonne National Laboratory, Battelle Memorial Institute, and IQVIA (all based in the US), as well as AKKA Technologies (Belgium), Qinetiq Group (UK), and WuXi Apptec (China).

Global spending on research and development, a demand driver for scientific research services, is about $2.4 trillion. Global R&D investment has been growing steadily over the last several years, with the US leading the charge. Other top spending countries include China, Japan, Germany, and South Korea, according to Statista.

The US scientific research and development services industry includes about 19,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $160 billion.


Demand is driven by government and commercial investment in science and technology. The profitability of individual companies depends on the discovery of potentially useful or marketable new products. Large companies can compete by employing scientists across several disciplines and taking advantage of economies of scale; they can also compete by managing government research operations. Small companies can compete by focusing on their expertise in a single specialty. The US industry is fragmented: the top 50 companies account for about 40% of revenue.

The prospect of patentable -- and potentially lucrative -- discoveries through ...

View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Scientific Research & Development Services that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options