The global laboratory proficiency testing market is estimated to be valued at US$ 1.49 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period from 2024 to 2031.
Laboratory proficiency testing (or PT testing) provides quality control of clinical laboratory testing to assess accuracy and reduce errors in diagnostic sample testing. It helps laboratories evaluate and improve their performance through a system of sample testing, scoring, statistical analysis and feedback. PT testing samples are circulated to clinical laboratories for analysis under routine testing conditions, and results obtained by the lab are returned to the PT provider for evaluation.
Key players operating in the Laboratory Proficiency Testing market are RxBio Inc., Annova Chem Inc., Medicom Healthcare Ltd., Onconova Therapeutics, Genome Protection Inc., Grace Therapeutics LLC, Amgen Inc., Partner Therapeutics Inc., Jubilant Life Sciences Ltd., Cipla Inc., Stium Inc., Soligenix Inc., Aeolus Pharmaceuticals, PharmaIN Corp, Immune Modulators Inc. The rise of chronic and infectious diseases such as cancer, diabetes and COVID-19 has prompted strict regulation to ensure accurate diagnostic testing, fueling demand for PT programs. In addition, increasing acceptance of external quality assessment to monitor performance of labs has supported market growth.
Key Takeaways
– Key players such as RxBio Inc. and Annova Chem Inc. dominate the market, offering comprehensive PT programs across major disease testing areas
– Uptake of proficiency testing solutions is growing among small and medium clinical laboratories seeking to improve efficiency and gain accreditation
– Technological advancements including artificial intelligence and digitalization facilitate scoring and data management in PT programs
Market Drivers
The main driver for the laboratory proficiency testing market is strong regulatory emphasis on diagnostic accuracy and quality control practices. Regulatory bodies like CMS and COLA require clinical labs to participate in PT programs to maintain certification and accreditation. Strict guidelines ensure laboratories consistently achieve high standards of testing performance. This helps improve patient safety and outcomes by reducing diagnostic errors.
Challenges in the Laboratory Proficiency Testing Market
The Laboratory Proficiency Testing Market faces some key challenges which need to be addressed to realize its full growth potential. Important current challenges include maintaining consistent quality standards across diverse geographic regions given variations in local regulations and infrastructure. Harmonizing quality requirements and audit processes across countries remains an ongoing area of focus.
SWOT Analysis
Strength: Standardized proficiency testing helps labs improve quality and adhere to accreditation. Regular competency evaluations boost confidence in lab results.
Weakness: High compliance costs and documentation requirements pose barriers for some smaller labs. Lack of uniform international standards complicates multi-national proficiency programs.
Opportunity: Growing emphasis on accuracy and reliability of clinical test results open up opportunities in developing countries expanding healthcare systems.Demand for specialized testing is rising with new treatments and therapies.
Threats: Economic downturns may force labs to cut budgets, reducing investment in proficiency programs. Sovereign states may set own regulations, risking fragmentation of quality standards.
Geographical Regions
In terms of value, North America accounts for the largest share of the global Laboratory Proficiency Testing market owing to stringent regulatory requirements and focus on healthcare quality in the US and Canada. Countries in Western Europe such as Germany, the UK and France also represent major markets due to established medical infrastructure and emphasis on lab accreditation.
The Asia Pacific region is expected to witness the fastest growth over the forecast period from 2024 to 2031. This can be attributed to infrastructure investments and expanding healthcare access across populous nations like India and China coupled with growing emphasis on international quality certifications. Rising medical tourism is also contributing to higher proficiency testing needs in Asia.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.