Global Laboratory Proficiency Testing Market Report Description:
Global laboratory proficiency testing market report gives comprehensive outlook on laboratory proficiency testing across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global market gives historical, current, and future market sizes (US$ Mn) on the basis of technology, end user and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global laboratory proficiency testing market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global laboratory proficiency testing market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global laboratory proficiency testing market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global laboratory proficiency testing products.
Global Laboratory Proficiency Testing Market:
The global laboratory proficiency testing market estimated to be valued US$ 756 Mn in 2018 and poised to grow at significant CAGR of 7.2% over 2019-2025. Increasing adoption of fully automated instruments and automation in laboratories, rising government regulations towards the safety and efficacy of the drugs, increasing safety regulations for pharmaceutical and food industry, growing focus on water testing and technological advancement in the field of laboratory testing are some key factors influencing the market growth. However, factors such as lack of skilled professionals and logistical & data interpretation drawbacks are hindering the market growth. In addition, high growth in emerging market provides huge growth opportunity for the market.
Increasing Adoption of Fully Automated Instruments and Automation in Laboratories are fueling the Market Growth
With least human involvement automation helps people with the use of numerous control systems for operating equipment’s and other applications. Automation in clinical laboratory allows to accomplish several tests by analytical instruments with very less use of an analyst. The automated instruments have benefits that laboratories can process more workload with minimum involvement of manpower. Also, automation reduces the chances of variability of results and errors that generally can happen during manual analysis.
The use of integrated computer hardware and software into analyzers has made the job very easy for clinical laboratories as it provides automatic process control and data processing. The use of automated analyzer has many advantages including reduction of workload, less time consumption per sample analysis, more number of tests done in less time, use of minute amount of sample, decreased chances of human errors, and high accuracy and reproducibility.
North America Accounts for Larger Market Revenue Share in Global Laboratory Proficiency Testing Market
North America accounted for larger revenue share in global laboratory proficiency testing market with considerable CAGR. The growth in this region is due to increasing regulatory stringency regarding laboratory operations, presence of a large number of global proficiency testing providers and mandatory adoption of proficiency testing to demonstrate operational excellence. USA is the major contributor for the growth of the market in the region. Asia pacific held substantial market share during estimated period owing to large base of manufacturers and research laboratories. Growing scientific base and research capabilities is the other factor responsible for the market growth.
Key player’s profiles in the global laboratory proficiency testing market include:
- 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)
- Advanced Analytical SolutionsLLC (UK)
- Bipea (France)
- Absolute Standards Inc. (US)
- NSI Lab Solutions (US)
Global laboratory proficiency testing market is surging owing to frequent acquisitions and launchings by the market players. For Instance,
- In March 2018, Fera Science launched the world’s most thorough wine proficiency testing scheme in partnership with Isvea srl (Italy) and Fera’s agent in Italy—StarEcotronics.
- In June 2019, Bio-Rad Laboratories, Inc., launched quantify Advance Control which are used in clinical labs for performing urinalysis testing.
Key Findings of the Report:
- Global laboratory proficiency testing market expanding at significant CAGR over 2019 to 2025 due to rising government regulations towards the safety and efficacy of the drugs
- Based on technology, polymerase chain reaction (PCR) segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global laboratory proficiency testing market
- Polymerase Chain Reaction (PCR)
- Cell Culture
- Other Technologies
By End User
- Clinical diagnostic
- Food and animal feed
- Pharmaceutical & biopharmaceutical
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market