Laboratory Proficiency Testing Market worth $1.6 billion | MarketsandMarkets

CHICAGO, Oct. 4, 2023 /PRNewswire/ -- In the near future, the Laboratory Proficiency Testing industry is poised for remarkable growth and transformation. Advancements in technology, such as artificial intelligence and automation, will revolutionize testing methodologies, enhancing the accuracy and efficiency of proficiency assessments. Global regulatory bodies will play a pivotal role in standardizing testing protocols and ensuring quality control across diverse sectors, from healthcare to environmental monitoring. Additionally, the industry will witness increased collaboration between laboratories, fostering knowledge sharing and innovation. As demands for reliable data and certification continue to rise, the Laboratory Proficiency Testing sector will thrive, becoming an indispensable pillar of quality assurance in an increasingly data-driven world.

Laboratory Proficiency Testing Market in terms of revenue was estimated to be worth $1.2 billion in 2023 and is poised to reach $1.6 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The growth of the laboratory proficiency market is primarily driven by stringent safety and quality regulations for food and pharmaceutical products, increasing focus on water testing, and increasing number of laboratory accreditations. However, the need for proficiency testing scheme harmonization and the dearth of skilled professionals pose potential challenges to the market landscape. The growth of the pharmaceutical proficiency testing market is driven by the growth of the pharmaceuticals market, the surge in the generics market, stringent quality control in the production of pharmaceutical products, and the emerging biosimilars market, while the major restraining factor is cost and time-intensive drug manufacturing process.

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Laboratory Proficiency Testing Market Scope:

Clinical Diagnostics to account for the largest share of the market during the forecast period.

Based on industry, the laboratory proficiency testing market is segmented into clinical diagnostics, microbiology, pharmaceuticals, food & animal feed, water, biologics, environmental, commercial beverages, cosmetics, cannabis/opioids, dietary supplements, and nutraceuticals. In 2022, the clinical diagnostics segment accounted for the largest share of the laboratory proficiency testing market. Factors such as the rising demand for early and accurate disease diagnosis, advancements in clinical diagnostic techniques, rising government initiatives to improve the quality and affordability of clinical diagnostic testing procedures, increasing incidence of target diseases,  and growing public-private investments as well as research funding & grants to develop innovative laboratory testing procedures, are driving the growth of the clinical diagnostics segment.

Chromatography segment is expected to grow at the highest rate during the forecast period.

Based on technology, the global proficiency testing market is segmented by various technologies, including chromatography, spectrophotometry, immunoassays, PCR, cell culture, and other techniques. In 2022, the cell culture segment held the largest market share in the Laboratory Proficiency Testing market. However, it is anticipated that the chromatography segment will experience the highest compound annual growth rate (CAGR) during the forecast period. This can be attributed to the increasing use of chromatographic techniques in water, pharmaceutical, and food industries.

The APAC Laboratory Proficiency Testing market is projected to grow at the highest rate during the forecast period.

The laboratory proficiency testing market is segmented into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America held the largest market share. However, it's expected that the Asia Pacific (APAC) market will experience the most rapid growth throughout the forecast period. This growth is mainly attributed to the rising demand for outsourcing analytical testing services in countries such as China, India, Japan, and Singapore. In addition, governments and regulatory bodies across APAC countries are tightening regulations to ensure the accuracy and reliability of testing and measurements. These factors are supporting the growth of the adoption of laboratory proficiency tests in the region.

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Laboratory Proficiency Testing Market Dynamics:

Drivers:

1.  Stringent safety and quality regulations for food and pharmaceutical products

Restraints:

1.  Requirement of high-capital investments for accurate and sensitive testing

Opportunities:

1.  Growth opportunities in emerging countries

Challenge:

1.  Logistical and data interpretation challenges

Key Market Players:

The prominent players in the laboratory proficiency testing market are LGC Limited (UK), College of American Pathologists (US), Bio-Rad Laboratories (US), Merck KGaA (Germany), American Proficiency Institute (US), Randox Laboratories (UK), Fapas (Fera Science Ltd.) (UK), Waters Corporation (US), QACS (Greece), Weqas (UK), AOAC INTERNATIONAL (US), Bipea (France), SPEX CertiPrep (US), Absolute Standards Inc. (US), Trilogy Analytical Laboratory (US), Advanced Analytical Solutions (US), American Industrial Hygiene Association (US), Matrix Sciences (US), Aashvi Proficiency Testing & Analytical Services (India), Global Proficiency (New Zealand), The Emerald Test (US), FLUXANA GmbH & Co. KG (Germany), Phenova Inc. (US), FARE Labs (India), Go Plus Services SDN BHD (Malaysia), and Muva Kempten GmbH (Germany).

Recent Developments:

• In July 2023, LGC Limited (US) acquired Kavo International (US) to strengthen its portfolio of quality measurement tools.
• In March 2023, the College of American Pathologists (US)launched a new proficiency testing program focused on the monkeypox (mpox) virus. By introducing the new mpox PT program, laboratories can enhance the quality assurance of their molecular testing process and contribute to the assurance of precise and dependent test outcomes, aiding in the detection of the mpox virus.
• In April 2022, Spex CertiPrep (US) acquired NSI Lab Solutions (US) to strengthen its product portfolio in the proficiency testing segment.
• In January 2022, Fera Science Ltd. - FAPAS (UK) formed a partnership with BioFront Technologies, which will act as the agent representing FAPAS proficiency testing services in the United States.
• In October 2021, Waters Corporation (US) entered into a partnership with Sartorius AG (Germany). The objective of this collaboration was to offer bioprocess experts direct access to top-notch mass spectrometry (MS) data, thereby enhancing the efficiency and precision of biopharmaceutical process development.
• Also in October 2021, Waters Corporation (US) partnered with the University of Delaware (US) to develop new analytical solutions for bioprocessing and biomanufacturing.

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Laboratory Proficiency Testing Market Advantages:

• Quality Assurance: Proficiency testing ensures the accuracy and reliability of laboratory results, promoting higher standards of quality in testing and analysis across various industries, including healthcare, pharmaceuticals, food safety, and environmental monitoring.
• Regulatory Compliance: It helps laboratories adhere to strict regulatory requirements by providing evidence of competency and adherence to standardized testing procedures, thereby reducing the risk of non-compliance and associated fines or legal consequences.
• Improved Accuracy: Participating in proficiency testing programs allows laboratories to identify and rectify any deficiencies in their testing processes, leading to improved accuracy and precision in their analyses.
• Enhanced Credibility: Laboratories that consistently perform well in proficiency testing gain credibility and trust among their clients, partners, and regulatory agencies, which can lead to increased business opportunities and industry recognition.
• Data-driven Decision Making: Proficiency testing results provide valuable data that laboratories can use to identify areas for improvement, optimize workflows, and make data-driven decisions to enhance their operations.
• Competitive Advantage: Laboratories with a strong track record in proficiency testing often have a competitive edge in the market, attracting more clients and partners who prioritize quality and reliability.
• Global Reach: Proficiency testing programs are often international in scope, allowing laboratories to benchmark their performance on a global scale and stay competitive in an increasingly interconnected world.
• Continuous Improvement: Participation in proficiency testing encourages laboratories to continually strive for excellence, fostering a culture of continuous improvement and innovation within the industry.
• Risk Mitigation: By identifying and addressing potential issues through proficiency testing, laboratories can reduce the risk of producing inaccurate or unreliable results, which could lead to costly product recalls or legal disputes.
• Consumer Safety: Ultimately, proficiency testing helps ensure the safety and well-being of consumers by verifying the accuracy of critical measurements in products and services, such as medical tests, food quality assessments, and environmental monitoring, thereby contributing to public health and safety.

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