Laboratory Proficiency Testing Market Overview, Outlook, Size, Share, Demand 2024-2033 |

"The new report published by The Business Research Company, titled Laboratory Proficiency Testing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the laboratory proficiency testing market size has grown strongly in recent years. It will grow from $1.33 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The laboratory proficiency testing market size is expected to see strong growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.

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Biosimilars Market Fuels Expansion Of Laboratory Proficiency Testing Services
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. 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 losses 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.

Pioneering Innovations In Laboratory Proficiency Testing Market
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. For instance, in February 2022, BIPEA, a Europe-based non-profit organization providing proficiency testing programs for food and environmental samples launched PT 35d. This serves as a proficiency testing scheme for water microbiological testing labs, focusing on enumerating yeasts and molds in fresh water. This quality control initiative comprises two rounds, with express carriers delivering two refrigerated water samples to participating laboratories in each round.

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

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Major companies operating in the laboratory proficiency testing market report are 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

Contents of the report:
1. Executive Summary
2. Laboratory Proficiency Testing Market Report Structure
3. Laboratory Proficiency Testing Market Trends And Strategies
4. Laboratory Proficiency Testing Market - Macro Economic Scenario
5. Laboratory Proficiency Testing Market Size And Growth
…..
27. Laboratory Proficiency Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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