Laboratory Proficiency Testing Market By Industry (Clinical Diagnostics, Pharmaceuticals, Microbiology, Cannabis, Others) , By Technology (Cell Culture, Spectrometry, Polymerase Chain Reaction, Chromatography, Immunoassays, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Laboratory Proficiency Testing Market Expected to Garner $2.2 Billion by 2033, Growing at a CAGR of 5.9%
The global laboratory proficiency testing market is expected to grow primarily due to the rising need for regular competence evaluation in hospitals to ensure accurate & reliable laboratory practices. The Asia-Pacific region is predicted to witness profitable growth by 2033.
As per the report published by Research Dive, the global laboratory proficiency testing market was valued at $1.3 billion in 2023 and is expected to register a revenue of $2.2 billion by 2033 at a CAGR of 5.9% during the forecast period 2024-2033.
Dynamics of the MarketThe increasing need for regular competence evaluation in hospitals to ensure accurate & reliable laboratory practices and the rising demand for precise diagnostic outcomes are expected to make the laboratory proficiency testing market a highly profitable one in the forecast period. Besides, the growing adoption of cell-culture-based products, such as monoclonal antibodies, requiring rigorous testing standards. is predicted to boost the market growth.
However, according to market analysts, the limited availability of trained professionals and advanced equipment for effective proficiency testing might restrain the growth of the market.
The integration of AI and ML in laboratory proficiency testing and the increasing emphasis on R&D, and stringent regulatory guidelines for clinical trials are predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, the favorable government policies and streamlined regulatory approvals are facilitating the entry of new testing laboratories into the industry, which is expected to propel the laboratory proficiency testing market forward in the coming years.
Key Players of the MarketThe major players of the laboratory proficiency testing market include LGC Limited, Bio-Rad Laboratories, Inc., Randox Laboratories Ltd., Merck KGaA, NSI Lab Solutions, QACS, Weqas, Absolute Standards, Inc., BIPEA, and INSTAND.
What the Report CoversIn addition to the details highlighted in this description, the comprehensive final report delves into essential market aspects. These encompass a market overview, SWOT analysis, market dynamics, Porter’s five forces analysis, segmentation (key trends, regional analysis, and forecast analysis), and company profiles (including company overview, product portfolio, operating segments, strategic initiatives, and financial performance).
Key Market SegmentsBy IndustryClinical Diagnostics
Pharmaceuticals
Microbiology
Cannabis
Others
By TechnologyCell Culture
Spectrometry
Polymerase Chain Reaction
Chromatography
Immunoassays
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market PlayersLGC Limited
Randox Laboratories Ltd.
Bio-Rad Laboratories, Inc.
Merck KGaA
QACS
NSI Lab Solutions
Weqas
BIPEA
Absolute Standards, Inc.
INSTAND