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What Is the Forecast for the Laboratory Proficiency Testing Market Growth in 2025?
In recent times, the lab proficiency testing market has experienced significant expansion. Its growth is projected to escalate from $1.45 billion in 2024 to $1.55 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.4%. Factors such as a focus on quality assurance, needs for regulatory compliance, specialized testing requirements, standardization of testing across the globe and the necessity for continual professional development have all contributed to the growth experienced in the historical period.
What Is the Forecast for the Laboratory Proficiency Testing Market Size Through 2029?
Over the ensuing years, the size of the laboratory proficiency testing market is predicted to undergo significant expansion, set to reach $2.23 billion by 2029, with a compounded annual growth rate (CAGR) of 9.5%. Factors contributing to this growth over the forecasted period include the adoption of artificial intelligence, ongoing professional development, an increasing focus on quality assurance, and a growing need for precise testing due to the globalizing nature of quality standards. Additionally, key market trends such as digitalization and online testing, personalized testing programs, increasing reliance on data analytics, swelling demand for accreditation, and quality enhancement efforts are going to dominate the forecasted period.
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What are the Key Market Players in Laboratory Proficiency Testing Market and How They’re Evolving?
Major companies operating in the laboratory proficiency testing market include LGC Limited, American Proficiency Institute, College of American Pathologists, Bio-Rad Laboratories, Randox Laboratories, Merck KGAA, FAPAS, Waters Corporation, QACS International Pvt. Ltd., Wales External Quality Assessment Scheme, AOAC INTERNATIONAL, Bureau Interprofessionnel d’Études Analytiques., SPEX CertiPrep Group LLC, Absolute Standards Inc, Trilogy Analytical Laboratories, Advanced Analytical Solutions, NSI Lab Solutions, INSTAND e.V., Anresco Laboratories, Avomeen Analytical Services, BioScreen Testing Services Inc., Brooks Applied Labs, Comprehensive Pain and Treatment Center, EMSL Analytical Inc., Eurofins Scientific SE, Exova Group Limited, Food Safety Net Services LLC, Analytical Laboratory Services Inc., Singapore Accreditation Council, Proctor & Allan East Africa Limited
What Are the Primary Growth Drivers in the Laboratory Proficiency Testing Market?
The expansion of the biosimilars market, which refers to the replicate biologic medicinal products produced by separate companies, is anticipated to fuel the growth of the laboratory proficiency testing market. This is attributed to the growing necessity for analytical and bioanalytical testing of these biosimilars, leading to increased demand for laboratory proficiency testing services that ensure the precision and reliability of the testing results. An example of this growth is represented by IQVIA, a US-based provider of commercial outsourcing and biopharmaceutical development services. They reported a 78% CAGR increase in the value of biosimilars from 2015 to 2020, reaching roughly $17.9 billion in 2020. Furthermore, they project a 15% CAGR growth from 2020 to 2030, anticipating a value of around $75 billion in the next ten years. The projected number of losses of protection (LOP) cases for original pharmaceutical products will primarily contribute to the volume increase of biosimilars in the coming decade. Thus, the expansion of the biosimilars market is a key factor in driving the laboratory proficiency testing market’s growth.
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What Are the Leading Segments in the Global Laboratory Proficiency Testing Industry?
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 Are the Key Market Trends in the Laboratory Proficiency Testing Industry?
The emergence of product innovations is a noteworthy trend observed in the laboratory proficiency testing market. Major firms in this market are creating novel products to uphold their market standing. For instance, BIPEA, a European non-profit organization offering proficiency testing programs for food and environmental specimens, launched PT 35d in February 2022. This initiative is a proficiency testing plan for water microbiological testing laboratories, concentrating on the enumeration of yeasts and molds in fresh water. This quality control endeavor involves two stages, with express delivery services bringing two cooled water samples to laboratories involved in each stage.
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What Is the Regional Outlook for the Laboratory Proficiency Testing Market?
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
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This Report Delivers Insight On:
1. How big is the laboratory proficiency testing market, and how is it changing globally?
2. Who are the major companies in the laboratory proficiency testing market, and how are they performing?
3. What are the key opportunities and risks in the laboratory proficiency testing market right now?
4. Which products or customer segments are growing the most in the laboratory proficiency testing market?
5. What factors are helping or slowing down the growth of the laboratory proficiency testing market?
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