PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258820
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258820
According to Stratistics MRC, the Global Laboratory Proficiency Testing Market is accounted for $1.2 billion in 2022 and is expected to reach $1.9 billion by 2028 growing at a CAGR of 8.3% during the forecast period. Laboratory proficiency testing is used to assess the long-term performance of atypical laboratories for certain tests or measures. One or more artefacts are sent nearby between participating laboratories during the laboratory proficiency test. Each laboratory measures the artefacts (for example, a ring gauge or a set of gauge blocks) in accordance with a given set of instructions and communicates its findings to the administrator. The results announced by each laboratory for a measure are compared to the reference value for that measure. There are various methods for determining the reference value.
According to the WHO, it is projected that approximately 600 million people or around 1 in 10 people globally suffer from illnesses due to eating contaminated food, leading to 420,000 deaths every year.
The growing number of new proficiency testing programmes promoted by key players is driving the global laboratory proficiency testing market. Furthermore, the growing usage of laboratory proficiency testing as a result of stringent regulations, as well as a growing focus on diagnostic laboratories as a result of the COVID-19 pandemic, is boosting market expansion. Proficiency testing ensures that the tests for the detection of the new corona virus are correctly produced, processed, and delivered in order to achieve high precision and confidence in results.
With the increased use of proficiency testing by authorization organisations as a mechanism to ensure the credibility of laboratories participating in accrediting programmes, the cost pressure on participating laboratories is increasing. The time and resources required for proficiency testing are typically related with the operating costs of a laboratory. Investments are required at many stages of PT programmes, such as when creating the programme of study, conducting numerous tests, handling and shipping the samples, and during the interpretation and reporting phase. In the case of poor results, repeated measurements to correct the poor data incur high expenditures.
The global laboratory proficiency testing market is likely to be driven by stringent rules implemented by regulatory authorities such as the Food and Drug Administration to ensure the quality of food and medication goods. Owing to stringent requirements, many laboratories around the world are opting for laboratory proficiency testing. Furthermore, the growing demand for testing water to detect pollution levels and its mobility is expected to propel the global laboratory proficiency testing market forward in the coming years.
The inconsistency of different PTS has a negative impact on laboratories' capacity to reach their desired aims. This is due to the technical differences between the marketplaces and the analytical procedures under consideration. However, certain financial and regulatory factors that drive programming distinctions may have an impact on the entire programme. Understanding the reasons for the disparities in PTS and identifying opportunities for greater harmonisation between schemes are thus crucial for obtaining the desired results.
The emergence of COVID-19 has had a negative impact on the lives and enterprises of millions of people worldwide. It has hampered enterprises by adversely affecting the economies of the countries. The pandemic, on the other hand, has had a beneficial impact on the global laboratory proficiency testing industry. As diagnostic laboratories become more regulated by the COVID-19, laboratory proficiency testing is gaining traction in the global market. Proficiency testing guarantees that test for identifying the novel corona virus are generated, processed, and given correctly to achieve high precision in results.
The clinical diagnostics segment is estimated to have a lucrative growth. This is due to the development of complicated diagnostic tests and the high rate of early diagnosis, which makes quality control through the use of proficiency testing an important feature in clinical diagnostics. Additionally, proficiency testing can increase clinical diagnostics' speed, repeatability, and accuracy. The substantial share of this market is related to the development of sophisticated diagnostic tests and the necessity for early diagnosis, which makes quality control through the use of proficiency testing a vital part of clinical diagnostics.
The cell culture segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to its use in diagnosing the presence of infectious microorganisms in the blood. These tests are also conducted in the pharmaceutical business to check for the benefits of vaccinations and cell culture-based products. The increased use of cell-culture-based products, such as monoclonal antibodies, has increased the use of cell culture assays to maximise production from microbial strain cultures. The proficiency tests available in this category are for measuring laboratory efficacy and checking for contaminants and impurities in cell cultures.
Asia Pacific is projected to hold the largest market share during the forecast period attributable to the increased healthcare awareness and the rising number of laboratories going for international accreditations in the region. Given the existence of rising economies such as China and India, as well as significant increase in outsourcing services in recent years, China and India have emerged as high-growth markets for laboratory proficiency testing. South Korea is another expanding market in the Asia Pacific area.
North America is projected to have the highest CAGR over the forecast period, because of the major breakthroughs in the pharmaceuticals, food, commercial beverages, water & environment, and cosmetics industries. The increasing regulatory limits on laboratory operations, driven by major regional authoritative organisations, have compelled the use of proficiency testing to provide operational superiority. Furthermore, the growing demand for reliable laboratory quality control and the presence of multiple well-known proficiency testing providers will contribute to regional statistics.
Some of the key players profiled in the Laboratory Proficiency Testing Market include: AOAC International, Absolute Standards, Inc., LGC Limited, Randox Laboratories Ltd., American Proficiency Institute, NSI Lab Solutions, Merck & Co., Inc., Bio-Rad Laboratories, Inc., Waters Corporation, Weqas, UK NEQAS, QACS - The Challenge Test Laboratory and Trilogy Analytical Laboratory.
In October 2021, Waters Corporation (US) partnered with the Sartorius AG (Germany) and was aimed to provide bioprocess experts with direct access to high-quality mass spectrometry (MS) data to accelerate the speed and improve the accuracy of biopharmaceutical process development.
In October 2021, Waters Corporation (US) partnered with the University of Delaware (US) to develop new analytical solutions for bioprocessing and biomanufacturing.
In June 2021, LGC Limited announced the development of a new business group to provide intelligent assurance across supply chains assurance solutions covering critical touchpoints, with a focus on the manufacturing, laboratory, ingredients, and nutritional supplements sectors.
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