The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s laboratory proficiency testing market report forecasts the laboratory proficiency testing market size to grow to $1.81 billion by 2027, with a CAGR (compound annual growth rate) of 8%.

Learn More On The Laboratory Proficiency Testing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/laboratory-proficiency-testing-global-market-report

Laboratory Proficiency Testing Market Size Forecast
The global laboratory proficiency testing market size is expected to grow from $1.23 billion in 2022 to $1.33 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions and affecting many markets across the globe. The global laboratory proficiency testing market size is expected to reach $1.81 billion in 2027 at a CAGR of 8.0%.

North America held the largest laboratory proficiency testing market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Laboratory Proficiency Testing Market Driver ­– Growth In The Biosimilars Market
For instance, according to IQVIA, a US-based provider of commercial outsourcing and biopharmaceutical development services, biosimilar value increased at a 78% CAGR between 2015 and 2020, reaching about $17.9 billion in 2020, and is predicted to increase at a 15% CAGR between 2020 and 2030, reaching an estimated $75 billion within the following decade. The estimated number of loss of protection (LoP) occurrences for originator pharmaceutical products will be a primary driver of biosimilar volume increase over the next decade. Therefore, the growth in the biosimilars market is driving the growth of the laboratory proficiency testing market.

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Key Laboratory Proficiency Testing Market Trend – Product Innovations
Product innovations are a key trend gaining popularity in the laboratory proficiency testing market. Major companies operating in the laboratory proficiency testing market are developing innovative products to sustain their position in the market.

Laboratory Proficiency Testing Market Segment
1) By Technology: Cell Culture, PCR, Immunoassays, Chromatography, Spectrophotometry, Other Technologies
2) By Test: Routine, Specialty
3) By Department: Parasitology, Virology, Hematology, Toxicology, Immunology/Serology, Histopathology, Urinalysis, Other Departments
4) By End-use: Hospitals, Contract Research Organizations, Pharmaceutical & Biotechnology Companies

Laboratory Proficiency Testing Market Major Players and Strategies
Major players in the laboratory proficiency testing market are LGC Limited, American Proficiency Institute, College of American Pathologists, Bio-Rad Laboratories, Randox Laboratories, Merck, Fapas, Waters Corporation, Weqas, AOAC International, BIPEA, NSI Lab Solutions, Trilogy Analytical Laboratories, Advanced Analytical Solutions, Absolute Solutions, American Industrial Hygiene Association, Matrix Sciences, and Aashvi Proficiency Testing & Analytical Services.

In April 2022, Spex CertiPrep, a US-based chemical manufacturing company, announced a partnership with NSI Lab Solutions to provide a robust proficiency testing (PT) program for laboratories worldwide. The program raises awareness of individual laboratories’ and analysts’ performance, supports accreditation requirements, strengthens quality management systems (QMS), fosters confidence across multiple industries, and increases regulator assurance throughout product registration and lifecycle. NSI Lab Solutions is a US-based manufacturing laboratory that provides certified reference materials and proficiency testing standards.

The Laboratory Proficiency Testing Global Market Report 2023 covers regional data on laboratory proficiency testing market size, laboratory proficiency testing market trends and drivers, opportunities, strategies, and laboratory proficiency testing market competitor analysis. The countries covered in the laboratory proficiency testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Laboratory proficiency testing refers to a process by which the effectiveness of other labs for certain tests or metrics is evaluated and used to track lab performance over time.

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