Laboratory Proficiency Testing Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Laboratory Proficiency Testing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The laboratory proficiency testing market has experienced robust growth in recent years, expanding from $1.33 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to quality assurance emphasis, regulatory compliance requirements, industry-specific testing needs, globalization of testing standard, continuous professional development.

Strong Future Growth Anticipated
The laboratory proficiency testing market is projected to continue its strong growth, reaching $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to integration of artificial intelligence, continuous professional development, quality assurance emphasis, rising demand for accurate testing, globalization of quality standards.

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Growth Driver Of The Laboratory Proficiency Testing Market
The growth in the biosimilars market is expected to propel the growth of the laboratory proficiency testing market going forward. Biosimilars refer to biologic medicinal products that are essentially a replica of an original product that is produced by a separate firm. As the biosimilar market expands, there is a greater need for analytical and bioanalytical testing of these products. This can lead to an increased demand for laboratory proficiency testing services to ensure the accuracy and reliability of the test results.

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Major Players And Market Trends
Key players in the laboratory proficiency testing market include LGC Limited, American Proficiency Institute, College of American Pathologists, Bio-Rad Laboratories, Randox Laboratories, Merck KGAA.
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.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the laboratory proficiency testing market in 2023. 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

Laboratory Proficiency Testing Market Definition
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.

Laboratory Proficiency Testing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Laboratory Proficiency Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on laboratory proficiency testing market size, laboratory proficiency testing market drivers and trends, laboratory proficiency testing market major players, laboratory proficiency testing competitors' revenues, laboratory proficiency testing market positioning, and laboratory proficiency testing market growth across geographies. The laboratory proficiency testing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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