Laboratory Proficiency Testing Market Size, Share, Trends, Technology and Forecast to 2024: LGC Limited, Bio-Rad Laboratories, Randox Laboratories, Merck, College of American Pathologists

The Laboratory Proficiency Testing Market research report is vital for buyers, stakeholders, new entrants, and existing vendors. It provides top-notch market information along with the definition, production, application, and forecast. In addition, it describes the market by type, end-user, application, and region. Moreover, it also provides external environment analysis and PEST analysis. Finally, the report also offers strategies for businesses to deal with the impact of Covid-19 on the Laboratory Proficiency Testing Market.

The Laboratory Proficiency Testing Market research report also provides dynamic market analysis, including market driving factors, market development constraints. In addition, provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.

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The prominent players operating in this market are

LGC Limited (UK),

Bio-Rad Laboratories (US),

Randox Laboratories (UK),

Merck (Germany),

College of American Pathologists (US),

American Proficiency Institute (US),

Waters Corporation (US),

QACS (Greece),

FAPAS (UK),

AOAC (US),

Phenova Inc. (US),

Weqas (Cardiff),

Advanced Analytical Solutions, LLC (UK),

Bipea (France),

Absolute Standards Inc. (US),

and NSI Lab Solutions (US).

The laboratory proficiency testing market is projected to reach USD 1,103 million by 2024 from USD 800 million in 2019, at a CAGR of 6.6% during the forecast period.

A breakdown of supply-side primary participants is mentioned below:

By Company Type: Tier 1-49%, Tier 2-41%, and Tier 3-10%
By Designation: C-level-40%, Director-level-35%, Others-20%
By Region: North America-33%, Europe-29%, Asia Pacific-19%, Latin America-10%, and the Middle East and Africa-9%

Proficiency testing forms an essential precondition for operational excellence and accreditation in several industries. This is one of the major factors driving the growth of the proficiency testing market, globally. Also, the stringent safety and quality regulations for food and pharmaceutical products and the increasing focus on water testing are the other major factors supporting market growth.

"Microbiology proficiency testing market is expected to be dominated by the pathogen testing segment in 2019"

The microbiology proficiency testing market is segmented into pathogen testing, sterility testing, end toxin & pyrogen testing, growth promotion testing, and others. The pathogen testing segment is expected to account for the largest market share in 2019.In industries such as food and beverage, detecting pathogens or spoilage microorganisms ensures consumer safety, avoids damage to company brands, and minimizes associated costs. Thus, pathogen testing is a key component and critical success factor in effective food safety and process control programs. Similarly, pathogen testing is carried out in water, cosmetics, biologics, and nutraceuticals industries.

"North America is expected to account for the largest share of the laboratory proficiency testing market during the forecast period (2019-2024)"

North America is expected to dominate the laboratory proficiency testing market during the forecast period. The proficiency testing market in North America is characterized by the increasing regulatory stringency regarding laboratory operations as a result of the growing product safety and quality concerns. North America is also home to a large number of proficiency testing providers, such as the American Proficiency Institute, College of American Pathologists, Waters Corporation, and AOAC. Factors such as the mandatory adoption of proficiency testing to demonstrate operational excellence, increasing regulatory stringency regarding laboratory operations, and the presence of a large number of global proficiency testing providers are responsible for the large share of North America in the laboratory proficiency testing market.

Reasons to buy this report:

From an insight perspective, this research report has focused on various levels of analysis-the market share analysis of top players, company profiles that comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the laboratory proficiency testing market; high-growth regions; and market drivers, restraints, and opportunities. The report provides the latest statistics and industry trends, allowing buyers to identify high-growth product segments and potential customers and suppliers and enabling them to drive revenue growth and profitability.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on proficiency tests offered by the top players in the global laboratory proficiency testing market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the global laboratory proficiency testing market

Market Development: Comprehensive information about lucrative emerging markets-the report analyzes the markets for proficiency tests across regions

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global laboratory proficiency testing market

Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global laboratory proficiency testing market

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