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The Global Laboratory Proficiency Testing Market Is Estimated To Be Valued At US$ 1.29 Billion

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Ashish Thapa
The Global Laboratory Proficiency Testing Market Is Estimated To Be Valued At US$ 1.29 Billion

Market Overview:

Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes.

Market Key Trends:

One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. According to the College of American Pathologists (CAP), the number of CAP-accredited laboratories globally increased from over 7,000 in 2010 to over 8,000 in 2020. This has significantly boosted demand for proficiency testing among medical laboratories.

Segment Analysis

The laboratory proficiency testing market is segmented by form into quality control services and quality control products. The quality control services segment is expected to dominate the market during the forecast period since it offers multiple advantages such as ease of use, reduced cost, timely optimization, compliance with accreditation standards, and improved quality control.

The global Laboratory Proficiency Testing Market Demand is estimated to be valued at US$ 1.29 Billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.


Key Takeaways

The global laboratory proficiency testing market is expected to witness high growth, exhibiting a CAGR of 7.3% over the forecast period 2023 - 2030, due to increasing regulatory compliance in healthcare and food testing industry.

Regional Analysis

The US region is expected to dominate the market during the forecast period owing to high demand for proficiency testing caused by stringent regulations in clinical trials and food testing. The region constitutes over 30% of the global market share currently. The Asia Pacific region is expected to exhibit the fastest growth rate over the coming years due to growing healthcare infrastructure and research initiatives in countries such as China and India.

Key Players

Key players operating in the laboratory proficiency testing market are Bio-Rad Laboratories, LGC Limited, Merck KGaA, Randox Laboratories, Thermo Fisher Scientific, Westgard QC, Advanced Analytical Solutions, LLC, AOAC International, Bipea, CAP, Charmex, Fera Science Limited (Fera), Finning UK & Ireland, Helena Laboratories, Hygiena, International Education and Research Corporation (ERC), Maine Molecular Quality Controls, Inc. (MMQCI), Microbiologics, Inc., NSI Lab Solutions, QACS Ltd. Bio-Rad Laboratories is currently dominating the market owing to its diverse product portfolio and global presence.


Read More: https://www.dailyprbulletin.com/laboratory-proficiency-testing-market-growth-trends-and-forecast-analysis/

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