Laboratory Proficiency Testing Market Forecasts to 2028 – Global Analysis By Technology (PCR, ELISA, Cell Culture), Application (Biologics, Environmental), End User (Hospitals & Clinics, Academic Research) and By Geography
According to Stratistics MRC, the Global Laboratory Proficiency Testing Market is accounted for $884.82 million in 2020 and is expected to reach $1,711.95 million by 2028 growing at a CAGR of 8.6% during the forecast period. Increasing adoption of fully automated instruments and automation in laboratories, stringent regulations on food & drug quality, and increasing safety regulations for the pharmaceutical and food industry are driving the market growth. However, high cost and procedural shift from lab-based to home-based/point-of-care testing procedures are hampering the growth of the market.
Laboratory proficiency testing is the determination of the performance of individual laboratories for particular tests or measurements and is used to monitor laboratories' continuing performance. Proficiency testing compares the measuring results obtained by different laboratories.
Based on the application, the cannabis/opioids segment is going to have lucrative growth during the forecast period owing to the harmful nature of chemical residual solvents that are often not eliminated during the extraction of cannabinoids and terpenes from Cannabis plants. By geography, North America is going to have high growth during the forecast period due to the mandatory adoption of proficiency testing to demonstrate operational excellence, increasing regulatory stringency regarding laboratory operations, and the presence of a large number of global proficiency testing providers.
Some of the key players profiled in the Laboratory Proficiency Testing Market include Weqas, Advance Analytical Solutions, QACS International, Phenova Inc., NSI Lab Solutions, American Proficiency Institute, LGC Ltd, Fapas, College of American Pathologists, Bipea, Randox Laboratories, AOAC International, Bio-Rad Laboratories, Merck & Co., Absolute Standards Inc. and Waters Corporation.
Estimated Market Size in 2020:
USD 884.82 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 1,711.95 million
Tables, Graphs & Figures
Type, Technology, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Polymerase Chain Reaction (PCR)
• Enzyme-Linked Immunosorbent Assay (ELISA)
• Cell Culture
• Other Technologies
• Clinical Diagnostics
• Food and Animal Feed
• Commercial Beverages
• Dietary Supplements & Nutraceuticals
End Users Covered:
• Pharmaceutical & Biotechnology Companies
• Hospitals & Clinics
• Diagnostic Laboratories
• Rehabilitation Units
• Contract Research Organizations
• Academic Research
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Laboratory Proficiency Testing Market is majorly driven by increasing safety regulations for the pharmaceutical and food industry, rising adoption of fully automated instruments and automation in laboratories and increasing focus on water testing.
The cannabis/opioids segment is growing at a highest CAGR owing to harmful nature of chemical residual solvents that are often not eliminated during the extraction of cannabinoids and terpenes from Cannabis plants.
North America dominated with a significant market share due to the factors such as stringent regulatory framework, the presence of a large number of global proficiency testing providers and the growing adoption of proficiency testing.
Asia Pacific market is growing at a highest CAGR owing to the rising healthcare awareness and the increasing number of laboratories going for international accreditations in the region.
Key players in Laboratory Proficiency Testing Market include Weqas, Advance Analytical Solutions, QACS International, Phenova Inc., NSI Lab Solutions, American Proficiency Institute, LGC Ltd, Fapas, College of American Pathologists, Bipea, Randox Laboratories, AOAC International, Bio-Rad Laboratories, Merck & Co., Absolute Standards Inc. and Waters Corporation.
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