December 7, 2024
Laboratory Proficiency Testing Market

Laboratory Proficiency Testing Market Driven By Growth Owing To Rising Emphasis On Quality Assurance And Accreditation

The Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Laboratory proficiency testing (PT) involves the use of samples provided to laboratory testing facilities to evaluate their performance under real world testing scenarios. PT samples are tested by multiple laboratories and the results submitted back for analysis of testing accuracy and reproducibility. These evaluations are critical to ensuring the quality and reliability of clinical test results from medical laboratories across various industries such as pharmaceuticals, biotechnology, food, and water testing.

Market Dynamics:

The growth of the laboratory proficiency testing market is driven by the rising emphasis on quality assurance and external accreditation of medical laboratories. Strict regulations requiring certified accreditations such as College of American Pathologists (CAP) certification have increased the demand for proficiency testing as laboratories aim to validate their skills and competency levels. According to the CAP 2019 Annual Report, CAP accredits over 8,000 laboratories and 130,000 technologists worldwide. Furthermore, increasing instances of inaccurate clinical test results due to human and technical errors also necessitate regular proficiency testing assessments as a means to improve testing quality. Several studies have shown that participation in PT programs is correlated with fewer testing inaccuracies and misdiagnoses. Hence, adherence to proficiency testing guidelines enables laboratories to provide reliable test results to clinicians and patients, which supports the growth of this market.

Segment Analysis

The laboratory proficiency testing market is dominated by the clinical chemistry and general chemistry segment. This segment accounts for over 30% of the total market share as most clinical and diagnostic laboratories require proficiency testing programs for chemistry analysis on a regular basis. The segment witnesses high demand due to the increasing volume of clinical chemistry tests being performed across the world for detecting diseases and health conditions.

PEST Analysis

Political: Regulations like CLIA in the US and EC accreditation in Europe mandating regular proficiency testing for laboratories is driving market growth. Various government initiatives are also encouraging adoption.

Economic: Growing healthcare spending across developing nations is increasing investment in diagnostic and clinical testing facilities, boosting demand.

Social: Rising awareness about laboratory testing standardization. Growing incidence of chronic and infectious diseases is increasing testing needs.

Technological: Automation and digitization are helping improve testing processes and provide results faster. Online platforms for proficiency testing are gaining traction.

Key Takeaways

The global laboratory proficiency testing market is expected to witness high growth, exhibiting a CAGR of 7.3% over the forecast period, due to increasing demand for standardizing laboratory practices and validating test results.

The North American region currently dominates the market owing to stringent regulations and growing healthcare expenditure. Factors like the presence of leading players and large base of clinical and diagnostic laboratories drives regional growth.

The European market is growing at a fast pace led by countries like the UK and Germany. Factors like established regulatory guidelines and increasing R&D investments in pharmaceutical and biotech industries support market expansion.

Key players operating in the laboratory proficiency testing market are Bio-Rad Laboratories, LGC Limited, Merck KGaA, Randox Laboratories, Thermo Fisher Scientific, Westgard QC, Advanced Analytical Solutions, LLC, AOAC International, Bipea, CAP, Charmex, Fera Science Limited (Fera), Finning UK & Ireland, Helena Laboratories, Hygiena, International Education and Research Corporation (ERC), Maine Molecular Quality Controls, Inc. (MMQCI), Microbiologics, Inc., NSI Lab Solutions, QACS Ltd.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →