Laboratory Proficiency Testing Market
Laboratory Proficiency Testing Market Forecasts to 2028 - Global Analysis By Type (Clinical Diagnostics, Food & Animal Feed, Biologics, Pharmaceuticals and Other Industries), Component (Polymerase Chain Reaction (PCR), Chromatography and Other Technologies) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $1.2 BN |
|
Projected Year Value (2028) |
US $1.9 BN |
|
CAGR (2022 - 2028) |
8.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Laboratory Proficiency Testing Market is accounted for $1.2 billion in 2022 and is expected to reach $1.9 billion by 2028 growing at a CAGR of 8.3% during the forecast period. Laboratory proficiency testing is used to assess the long-term performance of atypical laboratories for certain tests or measures. One or more artefacts are sent nearby between participating laboratories during the laboratory proficiency test. Each laboratory measures the artefacts (for example, a ring gauge or a set of gauge blocks) in accordance with a given set of instructions and communicates its findings to the administrator. The results announced by each laboratory for a measure are compared to the reference value for that measure. There are various methods for determining the reference value.
According to the WHO, it is projected that approximately 600 million people or around 1 in 10 people globally suffer from illnesses due to eating contaminated food, leading to 420,000 deaths every year.
Market Dynamics:
Driver:
Growing number of new proficiency testing programs
The growing number of new proficiency testing programmes promoted by key players is driving the global laboratory proficiency testing market. Furthermore, the growing usage of laboratory proficiency testing as a result of stringent regulations, as well as a growing focus on diagnostic laboratories as a result of the COVID-19 pandemic, is boosting market expansion. Proficiency testing ensures that the tests for the detection of the new corona virus are correctly produced, processed, and delivered in order to achieve high precision and confidence in results.
Restraint:
Requirement of high-capital investments for accurate and sensitive testing
With the increased use of proficiency testing by authorization organisations as a mechanism to ensure the credibility of laboratories participating in accrediting programmes, the cost pressure on participating laboratories is increasing. The time and resources required for proficiency testing are typically related with the operating costs of a laboratory. Investments are required at many stages of PT programmes, such as when creating the programme of study, conducting numerous tests, handling and shipping the samples, and during the interpretation and reporting phase. In the case of poor results, repeated measurements to correct the poor data incur high expenditures.
Opportunity:
Stringent regulations imposed by regulatory authorities
The global laboratory proficiency testing market is likely to be driven by stringent rules implemented by regulatory authorities such as the Food and Drug Administration to ensure the quality of food and medication goods. Owing to stringent requirements, many laboratories around the world are opting for laboratory proficiency testing. Furthermore, the growing demand for testing water to detect pollution levels and its mobility is expected to propel the global laboratory proficiency testing market forward in the coming years.
Threat:
Need for proficiency testing scheme harmonization
The inconsistency of different PTS has a negative impact on laboratories' capacity to reach their desired aims. This is due to the technical differences between the marketplaces and the analytical procedures under consideration. However, certain financial and regulatory factors that drive programming distinctions may have an impact on the entire programme. Understanding the reasons for the disparities in PTS and identifying opportunities for greater harmonisation between schemes are thus crucial for obtaining the desired results.
Covid-19 Impact
The emergence of COVID-19 has had a negative impact on the lives and enterprises of millions of people worldwide. It has hampered enterprises by adversely affecting the economies of the countries. The pandemic, on the other hand, has had a beneficial impact on the global laboratory proficiency testing industry. As diagnostic laboratories become more regulated by the COVID-19, laboratory proficiency testing is gaining traction in the global market. Proficiency testing guarantees that test for identifying the novel corona virus are generated, processed, and given correctly to achieve high precision in results.
The clinical diagnostics segment is expected to be the largest during the forecast period
The clinical diagnostics segment is estimated to have a lucrative growth. This is due to the development of complicated diagnostic tests and the high rate of early diagnosis, which makes quality control through the use of proficiency testing an important feature in clinical diagnostics. Additionally, proficiency testing can increase clinical diagnostics' speed, repeatability, and accuracy. The substantial share of this market is related to the development of sophisticated diagnostic tests and the necessity for early diagnosis, which makes quality control through the use of proficiency testing a vital part of clinical diagnostics.
The cell culture segment is expected to have the highest CAGR during the forecast period
The cell culture segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to its use in diagnosing the presence of infectious microorganisms in the blood. These tests are also conducted in the pharmaceutical business to check for the benefits of vaccinations and cell culture-based products. The increased use of cell-culture-based products, such as monoclonal antibodies, has increased the use of cell culture assays to maximise production from microbial strain cultures. The proficiency tests available in this category are for measuring laboratory efficacy and checking for contaminants and impurities in cell cultures.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period attributable to the increased healthcare awareness and the rising number of laboratories going for international accreditations in the region. Given the existence of rising economies such as China and India, as well as significant increase in outsourcing services in recent years, China and India have emerged as high-growth markets for laboratory proficiency testing. South Korea is another expanding market in the Asia Pacific area.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, because of the major breakthroughs in the pharmaceuticals, food, commercial beverages, water & environment, and cosmetics industries. The increasing regulatory limits on laboratory operations, driven by major regional authoritative organisations, have compelled the use of proficiency testing to provide operational superiority. Furthermore, the growing demand for reliable laboratory quality control and the presence of multiple well-known proficiency testing providers will contribute to regional statistics.
Key players in the market
Some of the key players profiled in the Laboratory Proficiency Testing Market include AOAC International, Absolute Standards, Inc., LGC Limited, Randox Laboratories Ltd., American Proficiency Institute, NSI Lab Solutions, Merck & Co., Inc., Bio-Rad Laboratories, Inc., Waters Corporation, Weqas, UK NEQAS, QACS - The Challenge Test Laboratory and Trilogy Analytical Laboratory.
Key Developments:
In October 2021, Waters Corporation (US) partnered with the Sartorius AG (Germany) and was aimed to provide bioprocess experts with direct access to high-quality mass spectrometry (MS) data to accelerate the speed and improve the accuracy of biopharmaceutical process development.
In October 2021, Waters Corporation (US) partnered with the University of Delaware (US) to develop new analytical solutions for bioprocessing and biomanufacturing.
In June 2021, LGC Limited announced the development of a new business group to provide intelligent assurance across supply chains assurance solutions covering critical touchpoints, with a focus on the manufacturing, laboratory, ingredients, and nutritional supplements sectors.
Industries Covered:
• Clinical Diagnostics
• Food & Animal Feed
• Biologics
• Pharmaceuticals
• Microbiology
• Environmental
• Commercial Beverages
• Dietary Supplements
• Cosmetics
• Water
• Cannabis/Opioids
• Nutraceuticals
Technologies Covered:
• Polymerase Chain Reaction (PCR)
• Chromatography
• Immunoassays
• Spectrometry
• Cell Culture
• Other Technologies
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 2020, 2021, 2022, 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
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Laboratory Proficiency Testing Market, By Industry
5.1 Introduction
5.2 Clinical Diagnostics
5.3 Food & Animal Feed
5.4 Biologics
5.5 Pharmaceuticals
5.6 Microbiology
5.7 Environmental
5.8 Commercial Beverages
5.9 Dietary Supplements
5.10 Cosmetics
5.11 Water
5.12 Cannabis/Opioids
5.13 Nutraceuticals
6 Global Laboratory Proficiency Testing Market, By Technology
6.1 Introduction
6.2 Polymerase Chain Reaction (PCR)
6.3 Chromatography
6.4 Immunoassays
6.5 Spectrometry
6.6 Cell Culture
6.7 Other Technologies
7 Global Laboratory Proficiency Testing Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 AOAC International
9.2 Absolute Standards, Inc.
9.3 LGC Limited
9.4 Randox Laboratories Ltd.
9.5 American Proficiency Institute
9.6 NSI Lab Solutions
9.7 Merck & Co., Inc.
9.8 Bio-Rad Laboratories, Inc.
9.9 Waters Corporation
9.10 Weqas
9.11 UK NEQAS
9.12 QACS - The Challenge Test Laboratory
9.13 Trilogy Analytical Laboratory
List of Tables
1 Global Laboratory Proficiency Testing Market Outlook, By Region (2020-2028) ($MN)
2 Global Laboratory Proficiency Testing Market Outlook, By Industry (2020-2028) ($MN)
3 Global Laboratory Proficiency Testing Market Outlook, By Clinical Diagnostics (2020-2028) ($MN)
4 Global Laboratory Proficiency Testing Market Outlook, By Food & Animal Feed (2020-2028) ($MN)
5 Global Laboratory Proficiency Testing Market Outlook, By Biologics (2020-2028) ($MN)
6 Global Laboratory Proficiency Testing Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
7 Global Laboratory Proficiency Testing Market Outlook, By Microbiology (2020-2028) ($MN)
8 Global Laboratory Proficiency Testing Market Outlook, By Environmental (2020-2028) ($MN)
9 Global Laboratory Proficiency Testing Market Outlook, By Commercial Beverages (2020-2028) ($MN)
10 Global Laboratory Proficiency Testing Market Outlook, By Dietary Supplements (2020-2028) ($MN)
11 Global Laboratory Proficiency Testing Market Outlook, By Cosmetics (2020-2028) ($MN)
12 Global Laboratory Proficiency Testing Market Outlook, By Water (2020-2028) ($MN)
13 Global Laboratory Proficiency Testing Market Outlook, By Cannabis/Opioids (2020-2028) ($MN)
14 Global Laboratory Proficiency Testing Market Outlook, By Nutraceuticals (2020-2028) ($MN)
15 Global Laboratory Proficiency Testing Market Outlook, By Technology (2020-2028) ($MN)
16 Global Laboratory Proficiency Testing Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) ($MN)
17 Global Laboratory Proficiency Testing Market Outlook, By Chromatography (2020-2028) ($MN)
18 Global Laboratory Proficiency Testing Market Outlook, By Immunoassays (2020-2028) ($MN)
19 Global Laboratory Proficiency Testing Market Outlook, By Spectrometry (2020-2028) ($MN)
20 Global Laboratory Proficiency Testing Market Outlook, By Cell Culture (2020-2028) ($MN)
21 Global Laboratory Proficiency Testing Market Outlook, By Other Technologies (2020-2028) ($MN)
22 North America Laboratory Proficiency Testing Market Outlook, By Country (2020-2028) ($MN)
23 North America Laboratory Proficiency Testing Market Outlook, By Industry (2020-2028) ($MN)
24 North America Laboratory Proficiency Testing Market Outlook, By Clinical Diagnostics (2020-2028) ($MN)
25 North America Laboratory Proficiency Testing Market Outlook, By Food & Animal Feed (2020-2028) ($MN)
26 North America Laboratory Proficiency Testing Market Outlook, By Biologics (2020-2028) ($MN)
27 North America Laboratory Proficiency Testing Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
28 North America Laboratory Proficiency Testing Market Outlook, By Microbiology (2020-2028) ($MN)
29 North America Laboratory Proficiency Testing Market Outlook, By Environmental (2020-2028) ($MN)
30 North America Laboratory Proficiency Testing Market Outlook, By Commercial Beverages (2020-2028) ($MN)
31 North America Laboratory Proficiency Testing Market Outlook, By Dietary Supplements (2020-2028) ($MN)
32 North America Laboratory Proficiency Testing Market Outlook, By Cosmetics (2020-2028) ($MN)
33 North America Laboratory Proficiency Testing Market Outlook, By Water (2020-2028) ($MN)
34 North America Laboratory Proficiency Testing Market Outlook, By Cannabis/Opioids (2020-2028) ($MN)
35 North America Laboratory Proficiency Testing Market Outlook, By Nutraceuticals (2020-2028) ($MN)
36 North America Laboratory Proficiency Testing Market Outlook, By Technology (2020-2028) ($MN)
37 North America Laboratory Proficiency Testing Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) ($MN)
38 North America Laboratory Proficiency Testing Market Outlook, By Chromatography (2020-2028) ($MN)
39 North America Laboratory Proficiency Testing Market Outlook, By Immunoassays (2020-2028) ($MN)
40 North America Laboratory Proficiency Testing Market Outlook, By Spectrometry (2020-2028) ($MN)
41 North America Laboratory Proficiency Testing Market Outlook, By Cell Culture (2020-2028) ($MN)
42 North America Laboratory Proficiency Testing Market Outlook, By Other Technologies (2020-2028) ($MN)
43 Europe Laboratory Proficiency Testing Market Outlook, By Country (2020-2028) ($MN)
44 Europe Laboratory Proficiency Testing Market Outlook, By Industry (2020-2028) ($MN)
45 Europe Laboratory Proficiency Testing Market Outlook, By Clinical Diagnostics (2020-2028) ($MN)
46 Europe Laboratory Proficiency Testing Market Outlook, By Food & Animal Feed (2020-2028) ($MN)
47 Europe Laboratory Proficiency Testing Market Outlook, By Biologics (2020-2028) ($MN)
48 Europe Laboratory Proficiency Testing Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
49 Europe Laboratory Proficiency Testing Market Outlook, By Microbiology (2020-2028) ($MN)
50 Europe Laboratory Proficiency Testing Market Outlook, By Environmental (2020-2028) ($MN)
51 Europe Laboratory Proficiency Testing Market Outlook, By Commercial Beverages (2020-2028) ($MN)
52 Europe Laboratory Proficiency Testing Market Outlook, By Dietary Supplements (2020-2028) ($MN)
53 Europe Laboratory Proficiency Testing Market Outlook, By Cosmetics (2020-2028) ($MN)
54 Europe Laboratory Proficiency Testing Market Outlook, By Water (2020-2028) ($MN)
55 Europe Laboratory Proficiency Testing Market Outlook, By Cannabis/Opioids (2020-2028) ($MN)
56 Europe Laboratory Proficiency Testing Market Outlook, By Nutraceuticals (2020-2028) ($MN)
57 Europe Laboratory Proficiency Testing Market Outlook, By Technology (2020-2028) ($MN)
58 Europe Laboratory Proficiency Testing Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) ($MN)
59 Europe Laboratory Proficiency Testing Market Outlook, By Chromatography (2020-2028) ($MN)
60 Europe Laboratory Proficiency Testing Market Outlook, By Immunoassays (2020-2028) ($MN)
61 Europe Laboratory Proficiency Testing Market Outlook, By Spectrometry (2020-2028) ($MN)
62 Europe Laboratory Proficiency Testing Market Outlook, By Cell Culture (2020-2028) ($MN)
63 Europe Laboratory Proficiency Testing Market Outlook, By Other Technologies (2020-2028) ($MN)
64 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Country (2020-2028) ($MN)
65 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Industry (2020-2028) ($MN)
66 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Clinical Diagnostics (2020-2028) ($MN)
67 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Food & Animal Feed (2020-2028) ($MN)
68 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Biologics (2020-2028) ($MN)
69 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
70 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Microbiology (2020-2028) ($MN)
71 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Environmental (2020-2028) ($MN)
72 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Commercial Beverages (2020-2028) ($MN)
73 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Dietary Supplements (2020-2028) ($MN)
74 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Cosmetics (2020-2028) ($MN)
75 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Water (2020-2028) ($MN)
76 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Cannabis/Opioids (2020-2028) ($MN)
77 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Nutraceuticals (2020-2028) ($MN)
78 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Technology (2020-2028) ($MN)
79 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) ($MN)
80 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Chromatography (2020-2028) ($MN)
81 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Immunoassays (2020-2028) ($MN)
82 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Spectrometry (2020-2028) ($MN)
83 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Cell Culture (2020-2028) ($MN)
84 Asia Pacific Laboratory Proficiency Testing Market Outlook, By Other Technologies (2020-2028) ($MN)
85 South America Laboratory Proficiency Testing Market Outlook, By Country (2020-2028) ($MN)
86 South America Laboratory Proficiency Testing Market Outlook, By Industry (2020-2028) ($MN)
87 South America Laboratory Proficiency Testing Market Outlook, By Clinical Diagnostics (2020-2028) ($MN)
88 South America Laboratory Proficiency Testing Market Outlook, By Food & Animal Feed (2020-2028) ($MN)
89 South America Laboratory Proficiency Testing Market Outlook, By Biologics (2020-2028) ($MN)
90 South America Laboratory Proficiency Testing Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
91 South America Laboratory Proficiency Testing Market Outlook, By Microbiology (2020-2028) ($MN)
92 South America Laboratory Proficiency Testing Market Outlook, By Environmental (2020-2028) ($MN)
93 South America Laboratory Proficiency Testing Market Outlook, By Commercial Beverages (2020-2028) ($MN)
94 South America Laboratory Proficiency Testing Market Outlook, By Dietary Supplements (2020-2028) ($MN)
95 South America Laboratory Proficiency Testing Market Outlook, By Cosmetics (2020-2028) ($MN)
96 South America Laboratory Proficiency Testing Market Outlook, By Water (2020-2028) ($MN)
97 South America Laboratory Proficiency Testing Market Outlook, By Cannabis/Opioids (2020-2028) ($MN)
98 South America Laboratory Proficiency Testing Market Outlook, By Nutraceuticals (2020-2028) ($MN)
99 South America Laboratory Proficiency Testing Market Outlook, By Technology (2020-2028) ($MN)
100 South America Laboratory Proficiency Testing Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) ($MN)
101 South America Laboratory Proficiency Testing Market Outlook, By Chromatography (2020-2028) ($MN)
102 South America Laboratory Proficiency Testing Market Outlook, By Immunoassays (2020-2028) ($MN)
103 South America Laboratory Proficiency Testing Market Outlook, By Spectrometry (2020-2028) ($MN)
104 South America Laboratory Proficiency Testing Market Outlook, By Cell Culture (2020-2028) ($MN)
105 South America Laboratory Proficiency Testing Market Outlook, By Other Technologies (2020-2028) ($MN)
106 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Country (2020-2028) ($MN)
107 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Industry (2020-2028) ($MN)
108 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Clinical Diagnostics (2020-2028) ($MN)
109 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Food & Animal Feed (2020-2028) ($MN)
110 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Biologics (2020-2028) ($MN)
111 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
112 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Microbiology (2020-2028) ($MN)
113 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Environmental (2020-2028) ($MN)
114 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Commercial Beverages (2020-2028) ($MN)
115 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Dietary Supplements (2020-2028) ($MN)
116 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Cosmetics (2020-2028) ($MN)
117 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Water (2020-2028) ($MN)
118 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Cannabis/Opioids (2020-2028) ($MN)
119 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Nutraceuticals (2020-2028) ($MN)
120 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Technology (2020-2028) ($MN)
121 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) ($MN)
122 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Chromatography (2020-2028) ($MN)
123 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Immunoassays (2020-2028) ($MN)
124 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Spectrometry (2020-2028) ($MN)
125 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Cell Culture (2020-2028) ($MN)
126 Middle East & Africa Laboratory Proficiency Testing Market Outlook, By Other Technologies (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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