 |
| Laboratory Proficiency Testing Market |
The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laboratory proficiency testing involves the use of standardized samples or materials in the evaluation of testing laboratories. The materials used in proficiency testing are provided by external sources and are similar to routine test materials actually received by the participating laboratories. The purpose of proficiency testing is for laboratories to compare their test results to see how well they are performing the test. This helps laboratories improve their testing and analytical processes.
Market key trends:
One of the key trends in the laboratory proficiency testing market is the increasing quality control regulations in the healthcare laboratory industry. Regulatory agencies like College of American Pathologists (CAP) are focusing on improving laboratory quality standards which is driving the demand for proficiency testing services. Moreover, the growing importance of environmental testing is also fueling the adoption of proficiency testing. With increasing environmental pollution levels, regulatory focus on monitoring emissions and waste is rising globally. This is propelling the need for accurate and reliable environmental testing using proficiency testing evaluation.
Segment Analysis
The laboratory proficiency testing market is dominated by chromatographic analysis segment due to high demand for chromatography equipment in pharmaceutical testing laboratories. Chromatography techniques such as gas chromatography (GC), high-performance liquid chromatography (HPLC), and ion chromatography are commonly used in pharmaceutical laboratories for the identification and quantification of compounds in drug samples. Around 45% of analytical testing in the pharmaceutical industry involves chromatography techniques. With the growth of pharmaceutical industry globally, the demand for chromatography proficiency testing is also rising.
Key Takeaways
The global Laboratory Proficiency Testing Market Share is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing stringent regulations regarding quality testing of pharmaceutical products.
Regional analysis - North America is projected to dominate the global market over the forecast period owing to presence of large number of pharmaceutical and biotechnology companies and strict regulatory guidelines regarding product quality testing in the region. The Asia Pacific region is expected to witness fastest growth due to rising pharmaceutical manufacturing in countries like China and India.
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, Finning UK & Ireland, Helena Laboratories, Hygiena, International Education and Research Corporation, Maine Molecular Quality Controls, Inc., Microbiologics, Inc., NSI Lab Solutions, QACS Ltd. These companies are focusing on expanding their global footprint through partnerships and acquisitions to strengthen their market position.
0 Comments