by The 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 performance evaluation of laboratories through analysis of unknown test specimen provided by an external body authorized to provide proficiency testing to laboratories. It aims to evaluate continuing testing competence of laboratories and improve the quality of test results reported. Proficiency testing schemes are designed to evaluate all relevant steps of the analytical process from sample receipt through analysis and reporting of results. Common analytes tested include microbiology, clinical chemistry, hematology and immunology analytes. Proficiency testing ensures laboratories maintain a high level of accuracy and precision in their testing and helps identify problems. It further helps laboratories improve their performance through corrective actions.
Market Dynamics:
Growing focus on ensuring quality of testing and accurate test results is a key factor driving growth of the laboratory proficiency testing market. Regulatory bodies across countries mandate participation in proficiency testing programs to maintain accreditation of medical laboratories. Furthermore, increasing number of medical laboratories and growing prevalence of diseases requiring diagnostic testing is also propelling demand for proficiency testing schemes. According to the Center for Disease Control and Prevention, in 2020, the United States registered around 7.5 million visits to medical laboratories. However, lack of harmonization of proficiency testing practices globally poses a challenge to market growth. Stringent regulatory guidelines and availability of stringent accreditation standards are expected to boost the demand for laboratory proficiency testing over the forecast period.
Segment Analysis
The global laboratory proficiency testing market is segmented on the basis of technology, industry, analyte type and region. Based on technology, the market is segmented into PCR, chromatography, spectroscopy, immunoassay and others. The chromatography segment accounted for the largest market share in 2022 owing to its widespread usage across various industries. Based on industry, the market is categorized into clinical diagnostics, food and beverage testing, environmental testing, pharmaceutical product testing and others. The clinical diagnostics segment dominated the market in 2022 as proficiency testing helps laboratories maintain accuracy and precision in clinical diagnosis. Based on analyte type, the market is classified into microbiology, antigen-antibody, chemical and more. The microbiology segment led the market due to rising incidence of infectious diseases requiring microbiology diagnostic testing.
PEST Analysis
Political: Government regulations regarding laboratory testing quality are driving demand for proficiency testing to help labs meet compliance standards. Economic: Rising healthcare spending globally is fueling market growth. Economic development is also positively impacting industry sectors like food & beverage testing. Social: Increasing awareness about testing accuracy and quality is raising adoption of proficiency testing programs. Technological: Automation and digitization are helping modernize proficiency testing solutions for improved efficiency, reliability and scalability.
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 lab quality standards.Regionally, North America dominated the market in 2022 due to stringent regulatory environment and advanced healthcare infrastructure in the region. Europe was the second largest market backed by large diagnostics industry. Asia Pacific is anticipated to showcase the fastest growth rate during the forecast period on account of rising healthcare spending and expanding drug development activities in countries like China and India.
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. Being the largest providers, Bio-Rad Laboratories and Thermo Fisher Scientific are focused on strengthening their product portfolios and expanding geographic footprints to consolidate market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
