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Overview of Market Growth

• Strong recent growth: From $2.65 billion in 2023 to $2.91 billion in 2024 (CAGR: 10.0%)
• Factors driving historic growth: Increased knowledge about healthy foods, active lifestyle trends, demand for supplements, need to validate nutritional information, prevalence of supplement use

Future Growth Prospects

• Expected rapid growth to $4.33 billion in 2028 (CAGR: 10.4%)
• Factors contributing to forecasted growth: Increasing consumer awareness, urbanization and modern lifestyles, demand for preventive healthcare, focus on quality and safety, growth in supplement products
• Major trends in the forecast period: Technological advancements, strict regulations, emphasis on quality control, safety and efficacy, innovative testing methodologies

Read More On The Dietary Supplement Testing Services Market Report 2024 – https://www.thebusinessresearchcompany.com/report/dietary-supplement-testing-services-global-market-report

Healthcare Spending Drives Market Growth

• Impact of healthcare spending on the market
• Allocation towards safety and efficacy testing of dietary supplements
• Example: Healthcare spending trends in the UK
• Role of funding research studies and clinical trials
• Leading companies in the market

Strategic Alliances Propel Market Growth

• Importance of strategic partnerships in market expansion
• Example: HealthLoq and UL Solutions partnership
• Benefits of collaboration for launching supplements into new markets
• Example: Merieux Nutrisciences’ acquisition of Dyad Labs
• Expansion of Merieux Nutrisciences’ presence in the US

Market Segmentation

• Segments covered: Service, ingredient, service provider, end-user
• Overview of key segments and their significance

Regional Insights

• North America: Largest region in 2023
• Europe: Expected to be the fastest-growing region in the forecast period
• Emerging trends and growth prospects in different regions

Conclusion

• The dietary supplement testing services market is witnessing robust growth driven by factors such as increasing consumer awareness, demand for preventive healthcare, and emphasis on quality and safety.
• Future growth prospects remain strong, with a focus on technological advancements and innovative testing methodologies.
• Companies in the market need to leverage strategic alliances and partnerships to expand their presence and address the growing demand for quality-assured dietary supplements worldwide.

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