Overview

Laboratory Proficiency Testing Market Introduction

Laboratory proficiency testing market is forecasted to value over USD 1.08 billion by 2027 end and register a CAGR of over 6.4% during the forecast period 2020-2027.

Stringent regulations imposed by regulatory authorities like FDA to ensure quality on drug and food-related products are driving the growth of the market. The increasing demand for testing water to check the level of contamination is also inflating the laboratory proficiency testing market size. In 2019, the FDA conducted tests of grocery products on shelves. The test was conducted to examine the greasy chemical that settles in the body. The chemical, polyfluoroalkyl substance, was present in chocolates. The testing of microorganisms and pathogens in food and beverages is expected to bolster the market.

The market is bifurcated into by industry, by technology, and by region. The branded segment of the pharmaceutical segment is expected to dominate the growth of the market. The strict regulations regarding the efficacy of drugs, drug development processes for prescription of novel medications are the factors increasing the demand of branded drug thus propelling the market.

The microbiology segment is also expected to witness significant growth owing to rapid demand for laboratory proficiency testing programs for microbiology labs. Microbiologists carry out tests for the examination and treatment of diseases. In order to ensure safe and effective research, this testing method is necessary which is resulting in the inflation of laboratory proficiency testing market size.

In terms of region, North America is expected to hold a major market share. Increasing awareness regarding the procurable of quality laboratory proficiency testing programs is expected to boost the presence of the market in the region. The presence of favorable regulations alongside the presence of prominent players is expected to increase the overall market size. The availability of skilled professionals in regions like Canada and U.S is also positively influencing the market growth.

Prominent players of the market are Absolute Standards Inc, NSI Lab Solutions, AOAC, Phenova Inc, Advanced Analytical Solutions, LLC, FAPAS, Bipea, Bio-Rad Laboratories, LGC Limited, Merck, Randox Laboratories, QACS, College of American Pathologists and Waters Corporation.

Competitive Landscape:

Fera Science with collaboration with Isvea srl, in 2018 launched the world's most thorough proficiency testing scheme StarEcotronics
Randox and Qnostics in 2018 agreed to a strategic partnership. The partnership allowed Qnostics to access Randox's commercial capabilities to expand itself in the market and allowed Randox to have access to Qnostics product portfolio and distribution
LGC, in 2018 expanded its immunosuppressant certified portfolio with the launch of Human blood-sirolimus
LGC, in 2018 augmented its VALIDATE THY product by adding Free Triiodothyronine (FT3) as a component of Total Triiodothyronine
LGC, in 2017 acquired API Food Quality, Inc. (US). The acquisition helped LGC expand its product folio in the food industry
Merck acquired BioControl Systems Inc. The acquisition allowed Merck to expand itself in the food and beverage industry
LGC signed an agreement with National Measurement Institute of Australia to supply reference materials in the field of forensic drugs, veterinary materials, pesticides, and sports drugs.

Laboratory Proficiency Testing Market Segmentation:

By Industry

Clinical Diagnostics
Routine Chemistry
Hematology
Endocrinology
Other Tests
Food and Animal Feed
Meat & Meat Products
Vegetables & Fruits
Dairy Products
Fish
Eggs
Fat/Oil
Other Products
Microbiology
Pathogen Testing
Sterility Testing
Endotoxin & Pyrogen Testing
Growth Promotion Testing
Other Microbial Testing
Environmental
Commercial Beverages
Pharmaceuticals
Water
Nutraceuticals
Biologics
Vaccines
Blood
Tissues
Cannabis/Opioids
Residual Solvents
Mold & Bacteria
Pesticides
Dietary Supplements
Cosmetics

By Technology

Polymerase Chain Reaction (PCR)
Cell Culture
Immunoassays
Chromatography
Spectrometry
Other Technologies

By Region

North America
Europe
Asia Pacific
Latin America
Rest of the World

FutureWise Key Takeaways:

Growth Prospects
SWOT Analysis
Key Trends
Key data-points affecting market growth

Objectives of the Study:

To provide complete information and analysis on the global laboratory proficiency testing market and its various segments
To deliver all-inclusive information on the elements impacting the market
To cover and provide the latest product launches, collaborations, and acquisitions
To provide extensive information on the strategies opted by key players of the market
To predict the impact of the market in regions like North America, Europe, Asia-Pacific, Latin America and the rest of the world

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