Overview and Scope
Laboratory proficiency testing refers to a process by which the effectiveness of other labs for certain tests or metrics is evaluated and used to track lab performance over time. One or more artifacts are exchanged between participating labs during the laboratory proficiency test. Each laboratory makes measurements on the objects (such as a ring gauge or a set of gauge blocks) based on a preset set of criteria and communicates the results to the administrator. Each laboratory's results for a certain purpose are compared to the reference value for that purpose.
Sizing and Forecast
The laboratory proficiency testing market size has grown strongly in recent years. It will grow from $1.33 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to quality assurance emphasis, regulatory compliance requirements, industry-specific testing needs, globalization of testing standard, continuous professional development.
The laboratory proficiency testing market size is expected to see strong growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to integration of artificial intelligence, continuous professional development, quality assurance emphasis, rising demand for accurate testing, globalization of quality standards. Major trends in the forecast period include digitalization and online testing, customized testing programs, focus on data analytics, rising demand for accreditation, quality improvement initiatives.
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Segmentation & Regional Insights
The laboratory proficiency testing market covered in this report is segmented -
1) By Technology: Cell Culture, PCR, Immunoassays, Chromatography, Spectrophotometry, Other Technologies
2) By Test: Routine, Specialty
3) By Department: Parasitology, Virology, Hematology, Toxicology, Immunology/Serology, Histopathology, Urinalysis, Other Departments
4) By End-use: Hospitals, Contract Research Organizations, Pharmaceutical & Biotechnology Companies, Academic Research, Diagnostic Laboratories, Independent Laboratories, Specialty Laboratories
North America was the largest region in the laboratory proficiency testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global laboratory proficiency testing market report during the forecast period. The regions covered in the laboratory proficiency testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growth in the biosimilars market is expected to propel the growth of the laboratory proficiency testing market going forward. Biosimilars refer to biologic medicinal products that are essentially a replica of an original product that is produced by a separate firm. As the biosimilar market expands, there is a greater need for analytical and bioanalytical testing of these products. This can lead to an increased demand for laboratory proficiency testing services to ensure the accuracy and reliability of the test results. For instance, according to IQVIA, a US-based provider of commercial outsourcing and biopharmaceutical development services, biosimilar value increased at a 78% CAGR between 2015 and 2020, reaching about $17.9 billion in 2020, and is predicted to increase at a 15% CAGR between 2020 and 2030, reaching an estimated $75 billion within the following decade. The estimated number of losses of protection (LoP) occurrences for originator pharmaceutical products will be a primary driver of biosimilar volume increase over the next decade. Therefore, the growth in the biosimilars market is driving the growth of the laboratory proficiency testing market.
Key Industry Players
Major companies operating in the laboratory proficiency testing market report are LGC Limited, American Proficiency Institute, College of American Pathologists, Bio-Rad Laboratories, Randox Laboratories, Merck KGAA, FAPAS, Waters Corporation, QACS International Pvt. Ltd., Wales External Quality Assessment Scheme, AOAC INTERNATIONAL, Bureau Interprofessionnel d'Études Analytiques., SPEX CertiPrep Group LLC, Absolute Standards Inc., Trilogy Analytical Laboratories, Advanced Analytical Solutions, NSI Lab Solutions, INSTAND e.V., Anresco Laboratories, Avomeen Analytical Services, BioScreen Testing Services Inc., Brooks Applied Labs, Comprehensive Pain and Treatment Center, EMSL Analytical Inc., Eurofins Scientific SE, Exova Group Limited, Food Safety Net Services LLC, Analytical Laboratory Services Inc., Singapore Accreditation Council, Proctor & Allan East Africa Limited
The laboratory proficiency testing market report table of contents includes:
1. Executive Summary
2. Laboratory Proficiency Testing Market Characteristics
3. Laboratory Proficiency Testing Market Trends And Strategies
4. Laboratory Proficiency Testing Market - Macro Economic Scenario
5. Global Laboratory Proficiency Testing Market Size and Growth
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31. Global Laboratory Proficiency Testing Market Competitive Benchmarking
32. Global Laboratory Proficiency Testing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Laboratory Proficiency Testing Market
34. Laboratory Proficiency Testing Market Future Outlook and Potential Analysis
35. Appendix
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the laboratory proficiency testing market include LGC Limited, Bio-Rad Laboratories, Randox Laboratories, Merck, College of American Pathologists, American Proficiency Institute, Waters Corporation, QACS, FAPAS, and AOAC.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Laboratory Proficiency Testing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/laboratory-proficiency-testing-market/download-sampleMarket DynamicsThe market is mainly driven by the rising number of new proficiency testing programs being boosted by significant players.
In addition to this, the increasing adoption of laboratory proficiency testing due to strict regulations and a rising focus on diagnostic laboratories due to the COVID-19 pandemic is also propelling the growth of the market.
Further, strict rules implemented by regulatory authorities such as the FDA to assure the quality of the food and drug products are likely to drive the market.
Moreover, many organizations are undertaking drives to resist the challenges faced by laboratories related to accreditation, thereby boosting the market growth.
