New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Laboratory Proficiency Testing Global Market Report 2023" - https://www.reportlinker.com/p06479980/?utm_source=GNW
The global laboratory proficiency testing market is expected to grow from $1.23 billion in 2022 to $1.33 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions and affecting many markets across the globe. The market is expected to reach $1.81 billion in 2027 at a CAGR of 8.0%.
The laboratory proficiency testing market includes revenues earned by entities providing services such as sample distribution, testing and analysis, result reporting, data evaluation and analysis, performance assessment, feedback and improvement and accreditation and compliance.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Laboratory proficiency testing refers to a process by which the effectiveness of other labs for certain tests or metrics is evaluated and used to track lab performance over time.One or more artifacts are exchanged between participating labs during the laboratory proficiency test.
Each laboratory makes measurements on the objects (such as a ring gauge or a set of gauge blocks) based on a preset set of criteria and communicates the results to the administrator. Each laboratory’s results for a certain purpose are compared to the reference value for that purpose.
North America was the largest region in the laboratory proficiency testing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the laboratory proficiency testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main technology in laboratory proficiency testing include cell culture, PCR, immunoassays, chromatography, spectrophotometry, others that is used for specialty and routine tests.Cell Culture refers to the process of growing animal or plant cells in a sterile, well controlled setting.
Cells can be taken directly from the organism and separated before cultivation, or they can come from a cell line or cell strain that has already been developed.The laboratory proficiency tests help to measure the efficacy of laboratories and check for contaminants and impurities in cell cultures.
The laboratory proficiency testing is used in departments such as parasitology, virology, hematology, toxicology, immunology/serology, histopathology, urinalysis, and others. The end-users of laboratory proficiency testing include hospitals, contract research organizations, pharmaceutical & biotechnology companies, academic research, diagnostic laboratories, independent laboratories, and specialty laboratories.
The growth in the biosimilars market is expected to propel the growth of the laboratory proficiency testing market going forward.Biosimilars refer to biologic medicinal products that are essentially a replica of an original product that is produced by a separate firm.
As the biosimilar market expands, there is a greater need for analytical and bioanalytical testing of these products.This can lead to an increased demand for laboratory proficiency testing services to ensure the accuracy and reliability of the test results.
For instance, according to IQVIA, a US-based provider of commercial outsourcing and biopharmaceutical development services, biosimilar value increased at a 78% CAGR between 2015 and 2020, reaching about $17.9 billion in 2020, and is predicted to increase at a 15% CAGR between 2020 and 2030, reaching an estimated $75 billion within the following decade. The estimated number of loss of protection (LoP) occurrences for originator pharmaceutical products will be a primary driver of biosimilar volume increase over the next decade. Therefore, the growth in the biosimilars market is driving the growth of the laboratory proficiency testing market.
Product innovations are a key trend gaining popularity in the laboratory proficiency testing market.Major companies operating in the laboratory proficiency testing market are developing innovative products to sustain their position in the market.
For instance, in 2020, API (American Proficiency Institute), a US-based company engaged in innovative solutions in the field of healthcare laboratory, created one of the world’s first proficiency testing programs for SARS-CoV-2, the virus that caused the COVID-19 pandemic.They innovated by anticipating their laboratory clients’ demands.
In these vital times, proficiency testing gave the assurance that laboratories require.The results of the first round of their proficiency testing program for SARS-CoV-2 RNA were quite impressive.
Overall performance in the detection challenge was good across testing platforms, with 97.4 percent properly detecting the presence of the virus and 98.3 percent correctly signaling when the virus was not present. This gives much-needed confirmation that laboratories are appropriately testing for the new COVID-19.
In April 2022, Spex CertiPrep, a US-based chemical manufacturing company, announced a partnership with NSI Lab Solutions to provide a robust proficiency testing (PT) program for laboratories worldwide.The program raises awareness of individual laboratories’ and analysts’ performance, supports accreditation requirements, strengthens quality management systems (QMS), fosters confidence across multiple industries, and increases regulator assurance throughout product registration and lifecycle.
NSI Lab Solutions is a US-based manufacturing laboratory that provides certified reference materials and proficiency testing standards.
The countries covered in the laboratory proficiency testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The laboratory proficiency testing market research report is one of a series of new reports that provides laboratory proficiency testing market statistics, including laboratory proficiency testing industry global market size, regional shares, competitors with laboratory proficiency testing market share, detailed laboratory proficiency testing market segments, market trends, and opportunities, and any further data you may need to thrive in the laboratory proficiency testing industry. This laboratory proficiency testing market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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