Exploring Key Insights of the Laboratory Proficiency Testing Market: Growth Prospects, Emerging Trends, and Opportunities
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How Rapidly is the Laboratory Proficiency Testing Market Expected to Expand Between 2025 and 2034 Based on Current Trends?
The size of the laboratory proficiency testing market has seen a significant increase in recent times. The market, which is estimated to stand at $1.45 billion in 2024, is expected to expand to $1.55 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.4%. Various factors have contributed to this growth during the historic period, including the focus on quality assurance, the necessity to comply with regulations, the need for specialized industry testing, the standardization of testing on a global scale, and the commitment to continuous professional development.
The size of the laboratory proficiency testing market is projected to significantly expand in the coming years, hitting the “$2.23 billion mark in 2029 with a compound annual growth rate (CAGR) of 9.5%. The anticipated progression during the forecast period can be credited to factors such as the incorporation of artificial intelligence, ongoing professional growth, focus on quality assurance, increasing need for precise testing, and the global standardization of quality parameters. Predominant trends during this period are expected to be the digitalization and online testing, bespoke testing programs, an emphasis on data analytics as well as an increasing demand for accreditation and initiatives for quality enhancement.
What Major Innovations Are Driving the Accelerated Growth of the laboratory proficiency testing Market?
The expansion of the biosimilars market is anticipated to fuel the advancement of the laboratory proficiency testing market. Biosimilars are biologic medical products that duplicate an original product made by a different company. As the biosimilar market enlarges, there will be a higher requirement for analytical and bioanalytical evaluations of such products. This can trigger a surge in demand for laboratory proficiency testing services to guarantee test results’ precision and dependability. Case in point, IQVIA, an American commercial outsourcing and biopharmaceutical development services provider, reports a 78% CAGR increase in biosimilar value from 2015 to 2020, totalling approximately $17.9 billion in 2020. It also forecasts a 15% CAGR rise from 2020 to 2030, hitting a projected $75 billion in the coming decade. The projected amount of protection loss incidents for originator pharmaceutical products will primarily stimulate the volume increase of biosimilars over the forthcoming decade. Consequently, the expansion of the biosimilars market is stimulating the advancement of the laboratory proficiency testing market.
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Which Key Players Are Shaping the Future of the Laboratory Proficiency Testing Market?
Major companies operating in the laboratory proficiency testing market include:
• LGC Limited_x000D_
• American Proficiency Institute_x000D_
• College of American Pathologists_x000D_
• Bio-Rad Laboratories_x000D_
• Randox Laboratories_x000D_
How Are the Latest Trends Influencing the Growth of the Laboratory Proficiency Testing Market?
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Which Growth-Oriented Segments of the Laboratory Proficiency Testing Market Are Leading the Industry’s Development?
The laboratory proficiency testing market covered in this report is segmented –
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, Academic Research, Diagnostic Laboratories, Independent Laboratories, Specialty Laboratories
Subsegments:
1) By Cell Culture: Adherent Cell Culture, Suspension Cell Culture
2) By PCR (Polymerase Chain Reaction): Quantitative PCR (qPCR), Reverse Transcription PCR (RT-PCR), Digital PCR
3) By Immunoassays: Enzyme-Linked Immunosorbent Assay (ELISA), Radioimmunoassay (RIA), Chemiluminescent Immunoassay (CLIA)
4) By Chromatography: Liquid Chromatography, Gas Chromatography, Ion Chromatography
5) By Spectrophotometry: Ultraviolet-Visible Spectrophotometry, Infrared Spectrophotometry, Atomic Absorption Spectrophotometry
6) By Other Technologies: Mass Spectrometry, Flow Cytometry, Next-Generation Sequencing (NGS)
What Regions Are At the Forefront of Laboratory Proficiency Testing Market Expansion?
North America was the largest region in the laboratory proficiency testing market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global laboratory proficiency testing market report during the forecast period. The regions covered in the laboratory proficiency testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
How Can We Define the Laboratory Proficiency Testing Market and Its Key Components?
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. One or more artifacts are exchanged between participating labs during the laboratory proficiency test. Each laboratory makes measurements on the objects (such as a ring gauge or a set of gauge blocks) based on a preset set of criteria and communicates the results to the administrator. Each laboratory’s results for a certain purpose are compared to the reference value for that purpose.
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