The global Laboratory Proficiency Testing market size is expected to be worth around US$ 2.10 billion by 2030, according to a new report by Vision Research Reports.
The global Laboratory Proficiency Testing market size was valued at US$ 2.1 billion in 2020 and is anticipated to grow at a CAGR of 7.8% during forecast period 2021 to 2030.
The market is driven by the increasing focus on water tests, legalization of medical cannabis, a growing number of cannabis testing laboratories, and increasing outbreaks of foodborne illnesses.
Government initiatives to carry out accurate and reliable proficiency testing are expected to drive the market. For instance, in October 2020, the Central Testing Laboratory of the Abu Dhabi Quality & Conformity Council implemented a PT program in collaboration with Biogenix Lab to verify the competency of medical laboratories carrying out COVID-19 tests.
Initiatives undertaken by the governments to raise awareness are anticipated to further boost market growth. For instance, in November 2020, the National Accreditation Board for Testing and Calibration Laboratories’ (NABL-IGS) awareness program was conducted to raise awareness about the significance of accrediting geotechnical laboratories in Kerala, India.
The increasing adoption of fully-automated instruments and automation in laboratories is expected to boost market growth. The presence of accreditation programs aimed to combat challenges, such as safety and complexity in the food supply chain, is expected to boost market growth. For instance, in March 2020, AOAC INTERNATIONAL expanded its Laboratory PT Program by adding testing for infant formula and adult nutritional and pH to ensure safety in the food supply chain.
The clinical diagnostics segment accounted for the largest revenue share of 34.5% in 2020. This is attributed to the development of complex diagnostic tests and the high rate of early diagnosis being conducted, which makes quality management with the use of proficiency testing an essential aspect in clinical diagnostics. Furthermore, proficiency testing can improve the efficiency, test reproducibility, and testing accuracy of clinical diagnostics.
The clinical diagnostics segment is subdivided into clinical chemistry, immunochemistry, hematology, oncology, molecular diagnostics, and coagulation. The immunochemistry held a substantial market share in 2020 owing to the presence of tests for allergies, autoimmune diseases, hormones, infectious diseases, urine electrophoresis, serum electrophoresis, and immunoglobulin in the segment.
In the pharmaceutical industry, laboratories conducting quality checks play a crucial role in the quality control of products that are going to be released in the market. Thus, these laboratories need to continuously assess themselves. LGC offers the PHARMASSURE program to help meet the specialized demands in the pharma industry. It includes all the necessary tests, such as chemical, microbiology, sterility, and endotoxin.
Hospitals held the largest share of 32.8% in 2020. The diagnostic laboratories segment is expected to witness the fastest growth over the forecast period owing to the wide usage by patients, hospitals, and physicians. This segment is further divided into independent and specialty laboratories. Diagnostic labs have to compete with hospital laboratories for specimens. However, the wide range of tests provided by these labs in a limited time is a competitive advantage.
Pharmaceutical and biotechnology companies are major hubs for production and R&D. Companies need to maintain sterility and quality standards for raw materials, production, and finished products. The proficiency testing services in the pharmaceutical and biotechnology companies can ensure testing accuracy and validate laboratory efficacy. This also allows the companies to modify and correct any processes that are not as per regulatory guidelines or functioning properly, thus maintaining the quality of the final product for FDA approval.
Contract research organizations are expected to witness significant growth over the forecast period. Emerging economies including India and China are the major hub for CROs. Stringent FDA guidelines regarding R&D and clinical trials are expected to expand the scope of laboratory proficiency testing through CROs.
The cell culture segment accounted for the largest revenue share of 30.4% in 2020. It is anticipated to grow at a lucrative rate in upcoming years owing to its use in diagnosing the presence of infectious microorganisms in the blood. These tests are also conducted in the pharmaceutical industry to check for the benefits of vaccines and cell culture-based products. The rise in the adoption of cell-culture-based products, such as monoclonal antibodies, has led to an increase in the adoption of cell culture tests to achieve maximum production from microbial strain cultures. The available proficiency tests in this segment are to measure the efficacy of laboratories and check for contaminants and impurities in cell cultures.
The immunoassays segment held a substantial market share in 2020 owing to its use in the diagnosis of specific antigens or antibodies in the blood. They are accurate and quick to use and can be used in labs as well as on-site. They are also used for the quantification of any specific analytes in the blood with the use of immunological reactions.
Chromatography offers advantages such as reliability and safety. For instance, Merck offers an extensive gas chromatography proficiency testing material to ensure the efficacy of the device and reliability of the results at prices as low as USD 257. HPLC is also provided in the PHARMASSURE scheme of LGC to meet the specialized demands of the pharmaceutical industry.
North America accounted for the largest revenue share of 44.2% in 2020 and is expected to maintain its lead over the forecast period. This is attributed to the stringent regulatory framework and the growing adoption of proficiency testing. Moreover, the presence of major players in the U.S. is expected to contribute to the growth of the regional market.
Asia Pacific is anticipated to exhibit the fastest CAGR of 9.5% during the forecast period. Increasing healthcare awareness and the rising number of laboratories going for international accreditations in the region are anticipated to fuel the market growth.
American Proficiency Institute
College of American Pathologists
Bio-Rad Laboratories, Inc.
Randox Laboratories Ltd.
QACS - The Challenge Test Laboratory
Merck & Co., Inc.
NSI Lab Solutions
Absolute Standards, Inc.
Endotoxin & Pyrogen Testing
Growth Promotion Testing
Other Microbial Testing
Polymerase Chain Reaction
Contract Research Organizations
Pharmaceutical & Biotechnology Companies
Middle East & Africa
The Laboratory Proficiency Testing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Laboratory Proficiency Testing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Laboratory Proficiency Testing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Laboratory Proficiency Testing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Laboratory Proficiency Testing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Laboratory Proficiency Testing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Laboratory Proficiency Testing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Laboratory Proficiency Testing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Laboratory Proficiency Testing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Laboratory Proficiency Testing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Laboratory Proficiency Testing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Laboratory Proficiency Testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Laboratory Proficiency Testing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Laboratory Proficiency Testing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Laboratory Proficiency Testing market. These factors have benefited the growth of the global market for Laboratory Proficiency Testing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Laboratory Proficiency Testing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Laboratory Proficiency Testing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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