Global Laboratory Proficiency Testing Market Size 2024, Forecast To 2033
6 Mar, 2024
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.
Global Laboratory Proficiency Testing Market Key Driver
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. The market size for laboratory proficiency testing in 2023 stood at $XX million and is expected to reach $XX million by 2024, with a projected growth rate of XX%. Additionally, by 2028, the market is forecasted to grow to $XX million.
Get A Free Sample Of The Global Laboratory Proficiency Testing Market ReportGlobal Laboratory Proficiency Testing Market Segments
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
By Geography:The regions covered in the laboratory proficiency testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Laboratory Proficiency Testing Industry Players
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
Get The Full Global Laboratory Proficiency Testing Market Report
Laboratory Proficiency Testing Market Overview
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.
Laboratory Proficiency Testing Global Market Report 2023 provides data on the global laboratory proficiency testing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The laboratory proficiency testing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.