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.
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.
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In the laboratory proficiency testing
market, by industry, the cannabis/opioids proficiency testing segment is
estimated to grow at the highest CAGR during the forecast period. Growth in
this segment is primarily driven by the legalization of medical cannabis,
growing number of cannabis testing laboratories, rising awareness about the
medical use of cannabis, and the increasing availability of analytical testing
instruments and software.
In the laboratory proficiency testing
market, by technology, the chromatography segment is expected to grow at the
highest CAGR during the forecast period. Chromatography is used to carry out
complicated separations like amino acid sequencing or pollutant separations,
based on differential partitioning between the mobile and stationary phase. The
advantages associated with chromatographic testing, such as the increased
safety, reliability, and transparency of the pharmaceutical supply chain by
testing the identity, strength, purity, quality, and potency of a drug product,
and the growth in the pharmaceutical industry as a whole are the major factors
driving the growth of this segment.
The Asia Pacific is considered to be the
most attractive regional market for laboratory proficiency testing owing to the
large base of manufacturers and research laboratories in the region.
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The prominent players operating in the
global laboratory proficiency testing 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).
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