Laboratory Proficiency Testing Market is Estimated to Witness High Growth Owing to Increased Need fo

Author : naufan cmi | Published On : 15 Jan 2024

Laboratory proficiency testing helps evaluate the performance of clinical laboratories through samples analysis and reporting of results. It provides quality assurance for tests performed in clinical, forensic, veterinary, and drug testing laboratories.

The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the Laboratory Proficiency Testing Market growth is the rising adoption of quality assurance measures across laboratories. Proficiency testing programs help laboratories monitor the accuracy and reliability of testing by providing an objective external measure of performance not available through internal quality control. Regulatory bodies like the Centers for Medicare and Medicaid Services (CMS) in the US and Joint Commission International (JCI) globally have mandated participation in proficiency testing programs to ensure quality of testing. The increasing focus on quality assurance is expected to boost adoption of proficiency testing services across clinical, forensic and other laboratories over the forecast period.

Segment Analysis
The global laboratory proficiency testing market can be segmented based on technology, provider, application, industry and geography. By technology, quantitative methods testing is expected to dominate the market during the forecast period. This is owing to the wide usage of quantitative methods for quality control and quality assurance of test results, which helps standardize testing procedures across laboratories.

Key Takeaways
The Global Laboratory Proficiency Testing Market Size is expected to witness high growth during the forecast period of 2023 to 2030.

Regional analysis: North America is expected to hold the largest share of the global laboratory proficiency testing market during the forecast period. This is due to the presence of many accredited proficiency testing providers, stringent regulations for laboratory accreditation, and advanced healthcare infrastructure in the region.

Key players: Key players operating in the laboratory proficiency testing market are RxBio Inc., Annova Chem Inc., Medicom Healthcare Ltd., Onconova Therapeutics, Genome Protection Inc., Grace Therapeutics LLC, Amgen Inc., Partner Therapeutics Inc., Jubilant Life Sciences Ltd., Cipla Inc., Stium Inc., Soligenix Inc., Aeolus Pharmaceuticals, PharmaIN Corp, Immune Modulators Inc. RxBio Inc. is expected to maintain its dominance during the forecast period, owing to its strong distribution network across major markets.

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