The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Laboratory proficiency testing involves the delivery of samples with unknown values to the external laboratories who are required to analyze the samples and report their results back to the proficiency testing provider. It assesses the performance of laboratories for specific analytes or tests. Proficiency testing helps the laboratories to assure the quality of their testing and reporting process.
Market key trends
Stringent regulatory guidelines regarding laboratory accreditation and quality management systems are increasing the demand for proficiency testing programs globally. For instance, the Clinical Laboratory Improvement Amendments (CLIA) requirements in the U.S. mandate regular proficiency testing for clinical laboratories to obtain and maintain CLIA certificates. Furthermore, the expansion of healthcare infrastructure and rise in biomarkers and molecular diagnostics are also supporting the market growth. However, the high cost associated with proficiency testing programs may hamper the market growth over the forecast period.
SWOT Analysis
Strength: Laboratory proficiency testing helps improve the accuracy and reliability of test results by identifying errors and allowing corrective actions to be taken. It ensures labs adhere to quality standards.
Weakness: The proficiency testing process can be time consuming and expensive for laboratories. Errors identified may require labs to redo large volumes of work.
Opportunity: Growing demand for accredited laboratory testing from industries like food, environmental and pharmaceutical offers huge market potential. Regulatory focus on quality is driving increased adoption.
Threats: Economic downturns can negatively impact business spending on non-essential testing services. Virtual proficiency testing is gaining traction as a lower-cost alternative.
Key Takeaways
The global Laboratory Proficiency Testing Market Share is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing regulatory focus on accurate and reliable laboratory testing.
Regional analysis
North America dominated the market in 2022, accounting for over 35% share, due to stringent regulations and focus on quality standards in industries. Asia Pacific is expected to grow at the fastest pace during the forecast period, driven by increasing penetration in countries like China and India to meet export-oriented regulatory requirements.
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, Finning UK & Ireland, Helena Laboratories, Hygiena, International Education and Research Corporation, Maine Molecular Quality Controls, Inc., Microbiologics, Inc., NSI Lab Solutions, QACS Ltd.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it