The laboratory proficiency testing market size was valued at USD 1.3 billion in 2020. The market is projected to expand at a CAGR of over 7.4 % during the forecast period, 2021 – 2028. The growth of the market is attributed to the increase in emphasis on diagnostic laboratories, laboratory proficiency testing due to the COVID-19 pandemic. Proficiency testing ensures that the tests used to diagnose the novel coronavirus are correctly interpreted, processed, and administered, resulting in high precision and trust in the results.
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Proficiency testing is critical in all pandemic-affected areas. Various organizations are launching programs to help laboratories overcome accreditation barriers, thereby fueling the market. For example, in November 2020, the World Health Organization (WHO) collaborated with the Department of Health (DOH) and government entities to provide training and ensure the establishment and certification of testing laboratories.
Foodborne disease outbreaks are expected to increase due to the rising ingestion of contaminated foods that contain bacteria, viruses, chemical substances, and parasites. According to the WHO, nearly 600 million people, or about one out of every 10 people, worldwide contract illnesses by consuming contaminated food, resulting in 420,000 deaths every year. More than 200 diseases, including diarrhea and cancer, can be caused by food pollutants.
Laboratory Proficiency Testing Market Trends, Drivers, Restraints, and Opportunities:
- Increasing number of proficiency training programs introduced by key players is expected to boost the market.
- Introduction of regulations to test potency and pollutants is expected to drive the market.
- As the market for high-potency cannabis grows, laboratories that provide assays have sprung up to meet the demand is expected to boost market.
Laboratory Proficiency TestingMarket Segment Insights:
Immunochemistry segment accounted for key share
Based on industry scope, the global laboratory proficiency testing market is divided into clinical diagnostics, pharmaceuticals, microbiology, and others. The clinical diagnostics segment is further divided into clinical chemistry, immunochemistry, hematology, oncology, molecular diagnostics, and coagulation. The molecular diagnostics segment is bifurcated into PCR and others.
Cell culture segment accounted for highest revenue share
On the basis of technology, the global laboratory proficiency testing market is divided into cell culture, spectrometry, polymerase chain reaction (PCR), chromatography, immunoassays, and others. The cell culture segment constituted a key share of the market in 2020. Its use in diagnosing the presence of infectious microorganisms in the blood is expected to drive the segment in the coming years.
Hospital segment accounted for highest revenue share
In terms of end-use, the global laboratory proficiency testing market is classified as hospitals, contract research organizations, pharmaceutical & biotechnology companies, academic research, and diagnostic laboratories. The diagnostics laboratories segment is further divided into independent laboratories and specialty laboratories. In 2020, the hospitals segment held a key share of the market. The diagnostic laboratories segment is anticipated to expand at a rapid pace during the forecast period due to high preference among patients.
Asia Pacific is a fast-growing market
In terms of regions, the global laboratory proficiency testing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a dominant share of the market in 2020 and this trend is projected to continue during the forecast period, as several governments and regulatory bodies are implementing rigid regulatory framework to increase testing proficiency. Furthermore, the presence of major players in the US is expected to boost the market in the region.
Compititive Landscape
Major players in the market include LGC Limited; American Proficiency Institute; College of American Pathologists; Bio-Rad Laboratories, Inc.; Randox Laboratories Ltd.; QACS - The Challenge Test Laboratory; Merck & Co., Inc.; Weqas; ERA; AOAC International; BIPEA; NSI Lab Solutions; Absolute Standards, Inc.; RCPA; UK NEQAS; INSTAND. They engage in partnerships and mergers & acquisitions to expand their product portfolios, manufacturing capabilities, and provide competitive differentiation.
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the laboratory proficiency testing market include LGC Limited, Bio-Rad Laboratories, Randox Laboratories, Merck, College of American Pathologists, American Proficiency Institute, Waters Corporation, QACS, FAPAS, and AOAC.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Laboratory Proficiency Testing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/laboratory-proficiency-testing-market/download-sampleMarket DynamicsThe market is mainly driven by the rising number of new proficiency testing programs being boosted by significant players.
In addition to this, the increasing adoption of laboratory proficiency testing due to strict regulations and a rising focus on diagnostic laboratories due to the COVID-19 pandemic is also propelling the growth of the market.
Further, strict rules implemented by regulatory authorities such as the FDA to assure the quality of the food and drug products are likely to drive the market.
Moreover, many organizations are undertaking drives to resist the challenges faced by laboratories related to accreditation, thereby boosting the market growth.
