Laboratory Proficiency Testing Market Growth
PORTLAND, OR, UNITED STATES, December 13, 2024 /
EINPresswire.com/ -- The
laboratory proficiency testing market is experiencing growth due to several factors such as the rising need for accurate and reliable diagnostic results and expanding scope of laboratory services necessitating regular proficiency assessments.
Allied Market Research published a report, titled, "Laboratory Proficiency Testing Market by Industry (Clinical Diagnostics, Pharmaceuticals, Microbiology, Cannabis and Others), Technology (Cell Culture, Spectrometry, Polymerase Chain Reaction, Chromatography, Immunoassays and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the laboratory proficiency testing market was valued at $1.3 billion in 2023, and is estimated to reach $2.2 billion by 2033, growing at a CAGR of 5.9% from 2024 to 2033.
𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.alliedmarketresearch.com/request-sample/A65732
Prime Determinants of Growth
The surge in laboratory proficiency testing is owing to the growing demand for precise diagnostic outcomes. With the expanding range of laboratory services, routine proficiency evaluations have become imperative. Accurate and reliable results are paramount, driving the necessity for continuous assessment to ensure quality standards are met. However, inter-laboratory variability in proficiency testing poses a significant challenge, hampering market growth. Moreover, the integration of AI and ML in laboratory proficiency testing is revolutionizing the market, fostering substantial growth. Leveraging advanced algorithms, these technologies enhance accuracy, efficiency, and data analysis, elevating overall testing standards.
Report Coverage & Details
Report Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$1.3 billion
Market Size in 2033
$2.2 billion
CAGR
5.8%
No. of Pages in Report
310
Segments Covered
Industry, Technology, End Use, and Region
Drivers
Growing demand for precise diagnostic outcomes
Increasing government support for lab testing infrastructure
Restraint
Variability in testing owing to limited participation
Opportunities
Surging integration of AI & ML
Increasing emphasis on R&D, and stringent regulatory guidelines for clinical trials
Based on industry, the cannabis sub-segment is expected to grow the fastest throughout the forecast period.
The surge of the cannabis sub-segment reflects the increasing importance placed on ensuring the accuracy and reliability of cannabis testing results. With the expanding legalization and utilization of cannabis products for medicinal and recreational purposes, the demand for thorough quality control measures intensifies. Laboratories specializing in cannabis analysis are expected to experience heightened demand as regulatory standards tighten and consumer expectations rise.
On the basis of technology, the chromatography sub-segment is expected to grow the fastest throughout the forecast period.
The chromatography sub-segment is expected to accelerate, owing to the precision and versatility offered by the technique. As demand surges for accurate analysis across diverse industries, from pharmaceuticals to environmental monitoring, chromatography's prominence intensifies. Its ability to separate and identify complex mixtures positions it as an indispensable tool for ensuring quality and compliance in laboratory settings.
By end use, the contract research organization sub-segment is expected to grow the fastest throughout the forecast period.
The laboratory proficiency testing sector is expected to have significant growth, with the contract research organization (CRO) sub-segment. This is owing to the increasing reliance on CROs for their specialized expertise and services within laboratory proficiency testing. Their ability to provide comprehensive solutions and tailored support is driving this accelerated growth of the market. As demand for precise and reliable testing methodologies rises, CROs are positioned as major destination in meeting these evolving industry needs.
On the basis of region, the Asia-Pacific market is expected to grow the fastest throughout the forecast period.
The Asia-Pacific region emerges as a region with progressive growth. This surge can be attributed to increased investments by pharmaceutical companies and favorable government policies. The region attracts significant investment in medical devices, biopharma, and digital health. Moreover, government initiatives have led to a 20% expansion in accredited laboratories across the region. This dynamic growth highlights the major role of both private sector investment and regulatory support in promoting excellence and reliability in laboratory testing, thereby advancing healthcare standards and ensuring public safety.
Key Players Operating in the Market
LGC Limited
Bio-Rad Laboratories, Inc.
Randox Laboratories Ltd.
QACS - The Challenge Test Laboratory
Merck KGaA
Weqas
BIPEA
NSI Lab Solutions
Absolute Standards, Inc.
INSTAND
The report provides a detailed analysis of these key players in the global laboratory proficiency testing market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Developments
In January 2023, BIPEA announced a proficiency testing scheme (PTS) 20G that allows laboratories to assess analytical capabilities via 600g frozen fish samples. Testing includes caloric value, freshness indicators, mineral content, vitamins, fatty acids, and PremiTest, helping labs enhance precision and reliability in fish analysis, ensuring high-quality food testing standards.
In October 2021, Biogenix Labs and the Abu Dhabi Quality and Conformity Council (ADQCC) launched the UAE's first Proficiency Testing program for COVID-19, sending RT-PCR samples to over 15 labs. ADQCC evaluated results to ensure quality standards, using five platforms including LamPORE for enhanced accuracy and reliability.
The laboratory proficiency testing market is set for a promising future due to its growing importance in ensuring quality standards. With increasing demand for accurate testing across various industries, including healthcare and pharmaceuticals, proficiency testing plays a crucial role in maintaining reliability and credibility in laboratory operations.
𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠:
https://www.alliedmarketresearch.com/purchase-enquiry/A65732David Correa
Allied Market Research
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