The global demand for Laboratory Proficiency Testing Market is presumed to reach the market size of nearly USD 3.41 Billion by 2032 from USD 1.83 Billion in 2023 with a CAGR of 7.12% under the study period 2024-2032.
Laboratory proficiency testing determines individual laboratories' performance for a particular test or measurement and is used to monitor laboratories' continuing performance. In a laboratory proficiency test, one or more artifacts are sent around between several participating laboratories. Each laboratory measures the artifacts (e.g., a ring gage or a set of gage blocks) according to an assigned set of instructions and reports its results to the administrator. The results reported by each laboratory for a measure are compared to the reference value for that measure. The reference value can be determined in various ways. The two most common ways are to use a reference laboratory or use the average of the values reported by the participants. After the proficiency test, laboratories present a report that summarizes the output. This assists them to know the causes for any detected variations and enhancing their analytical performance. Additionally, proficiency testing forms a necessary prerequisite for operational excellence and authorization in numerous industries.
MARKET DYNAMICS
The market is mainly driven by the rising number of new proficiency testing programs being boosted by significant players. In addition to this, the increasing adoption of laboratory proficiency testing due to strict regulations and a rising focus on diagnostic laboratories due to the COVID-19 pandemic is also propelling the growth of the market. Further, strict rules implemented by regulatory authorities such as the FDA to assure the quality of the food and drug products are likely to drive the market. Also, the rising demand for testing water to determine contamination levels and its portability is expected to drive the market. Moreover, many organizations are undertaking drives to resist the challenges faced by laboratories related to accreditation, thereby boosting the market growth. On the other side, massive investment associated with precise and minute testing may restrict the market during the forecast period.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Laboratory Proficiency Testing. The growth and trends of Laboratory Proficiency Testing industry provide a holistic approach to this study.
MARKET SEGMENTATION
This section of the Laboratory Proficiency Testing market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Laboratory Proficiency Testing market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Laboratory Proficiency Testing market include LGC Ltd., Bio-Rad Laboratories Inc., Randox Laboratories Ltd., QACS - The Challenge Test Laboratory, Merck KGaA, Weqas, BIPEA, NSI Lab Solutions, Absolute Standards Inc., INSTAND. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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10. COMPANY PROFILES OF LABORATORY PROFICIENCY TESTING INDUSTRY
10.1. Top Companies Market Share Analysis
10.2. Market Concentration Rate
10.3. LGC Ltd.
10.3.1 Company Overview
10.3.2 Company Revenue
10.3.3 Products
10.3.4 Recent Developments
10.4. Bio-Rad Laboratories Inc.
10.4.1 Company Overview
10.4.2 Company Revenue
10.4.3 Products
10.4.4 Recent Developments
10.5. Randox Laboratories Ltd.
10.5.1 Company Overview
10.5.2 Company Revenue
10.5.3 Products
10.5.4 Recent Developments
10.6. QACS - The Challenge Test Laboratory
10.6.1 Company Overview
10.6.2 Company Revenue
10.6.3 Products
10.6.4 Recent Developments
10.7. Merck KGaA
10.7.1 Company Overview
10.7.2 Company Revenue
10.7.3 Products
10.7.4 Recent Developments
10.8. Weqas
10.8.1 Company Overview
10.8.2 Company Revenue
10.8.3 Products
10.8.4 Recent Developments
10.9. BIPEA
10.9.1 Company Overview
10.9.2 Company Revenue
10.9.3 Products
10.9.4 Recent Developments
10.10. NSI Lab Solutions
10.10.1 Company Overview
10.10.2 Company Revenue
10.10.3 Products
10.10.4 Recent Developments
10.11. Absolute Standards Inc.
10.11.1 Company Overview
10.11.2 Company Revenue
10.11.3 Products
10.11.4 Recent Developments
10.12. INSTAND
10.12.1 Company Overview
10.12.2 Company Revenue
10.12.3 Products
10.12.4 Recent Developments
Note - In company profiling, financial details and recent developments are subject to availability or might not be covered in the case of private companies