Industry Background:
Laboratory Proficiency Testing is used to show evidence of their performance and to ensure that their analytical results can be trusted. Several companies such as Bio-Rad constantly introduce innovations in the testing programs. These programs are efficient and help the laboratories to maintain their quality according to standards set by international associations. Increasing demand for packaged food products and increasing focus on water testing as it contains a wide range of inorganic and organic analytes including routine and toxic metals are the major driving factors for the global laboratory proficiency testing market. The growing biosimilars market has projected the growth of the global laboratory proficiency testing market in the forecast period.
According to AMA Research, the market for Laboratory Proficiency Testing is expected to register a CAGR of 6.72% during the forecast period to 2027. This growth is primarily driven by Stringent safety and Quality Regulations for Food and Pharmaceutical Products
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Key Companies in Study | LGC Limited (United Kingdom), Bio-Rad Laboratories (United States), Randox Laboratories (United Kingdom), Merck (Germany), College of American Pathologists (United States), American Proficiency Institute (United States), Waters Corporation (United States), QACS (Greece), FAPAS (United Kingdom), AOAC (United States), Phenova Inc. (United States), Weqas (United Kingdom) and Advanced Analytical Solutions, LLC (United Kingdom) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Life Sciences Tools & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as LGC Limited (United Kingdom), Bio-Rad Laboratories (United States), Randox Laboratories (United Kingdom), Merck (Germany), College of American Pathologists (United States), American Proficiency Institute (United States), Waters Corporation (United States), QACS (Greece), FAPAS (United Kingdom), AOAC (United States), Phenova Inc. (United States), Weqas (United Kingdom) and Advanced Analytical Solutions, LLC (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2022, Fera Science Ltd. - Fapas (UK) has partnered with BioFront Technologies to serve as Fapas' proficiency testing service agent in the US., In 2021, Waters Corporation (USA) has partnered with Sartorius AG (Germany) with the goal of giving bioprocess experts direct access to high-quality mass spectrometer (MS) data to speed up and improve the accuracy of biopharmaceutical process development., In 2021, Waters Corporation (USA) has partnered with the University of Delaware (USA) to develop novel analytical solutions for bioprocessing and biomanufacturing., Recently, LGC has expanded its immunosuppressant-certified reference materials portfolio with the launch of Human blood-sirolimus (ERM-DA111a). and In March 2018, Fera Science has launched the world’s most thorough wine proficiency testing scheme in partnership with Isvea srl (Italy) and Fera’s agent in Italy—StarEcotronics.
In 2021, LGC Limited has announced the development of a new business group to provide intelligent assurance across supply chain assurance solutions covering critical touchpoints with a focus on manufacturing, laboratory, ingredient and nutritional supplement sectors. and In February 2018, Randox and Qnostics have entered into a strategic partnership under which Randox will have access to the Qnostics molecular range of products for sales and distribution, while Qnostics will have access to Randox’s commercial capabilities to increase the market penetration of Molecular Quality Controls and custom services.
Laboratory Proficiency Testing Market Dynamics:
Attributes | Details |
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Growth Drivers | - Stringent safety and Quality Regulations for Food and Pharmaceutical Products
- Proficiency Testing as an Essential Precondition for Operational Excellence
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Influencing Trends | - Rising Inclination and Focus on Water Testing
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Restraints | - High Capital Investments for Accurate and Sensitive Testing
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Road Blocks / Challenges | - Logistical and Data Interpretation Challenges
- Dearth of Skilled Professionals
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Gaps & Opportunities | - Technological Advancements and Development in the Testing Industry
- Growing Opportunities in Emerging Economies
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Laboratory Proficiency Testing Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the medium utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Laboratory Proficiency Testing Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, SEC filings of Laboratory Proficiency Testing players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Laboratory Proficiency Testing Study Sheds Light on
The Laboratory Proficiency Testing Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Laboratory Proficiency Testing industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Laboratory Proficiency Testing industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.