Jan 19, 2021   SOURCE: PR NewsWire

Laboratory Proficiency Testing Market Size Worth $1.9 Billion By 2027: Grand View Research, Inc.

SAN FRANCISCO, Jan. 19, 2021 /PRNewswire/ -- The global laboratory proficiency testing market size is expected to reach USD 1.9 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.3% from 2020 to 2027. The market is driven by the increasing focus on water tests, legalization of medical cannabis, a growing number of cannabis testing laboratories, and increasing outbreaks of foodborne illnesses.

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Government initiatives to carry out accurate and reliable proficiency testing are expected to drive the market. For instance, in October 2020, the Central Testing Laboratory of the Abu Dhabi Quality & Conformity Council implemented a PT program in collaboration with Biogenix Lab to verify the competency of medical laboratories carrying out COVID-19 tests.

Key suggestions from the report:

    --  The legalization of cannabis products in the U.S. in December 2018 and
        the gradual expansion of this market are propelling the need for the
        testing of safety and efficacy for medical use
    --  The presence of food contaminants can cause more than 200 diseases,
        including diarrhea and cancer. Diarrhea affects nearly 550 million
        people and causes 230,000 deaths every year. Children aged below 5 years
        carry 40% of foodborne diseases, causing 125,000 deaths every year
    --  In the U.K., over 130 million hematology tests are carried out each year
    --  Calibration proficiency testing is another service being focused on,
        which is attributed to the growing scope of automation in laboratories
    --  Organizations such as the American Proficiency Institute, LGC Ltd., and
        the College of American Pathologists developed several programs for
        laboratories to improve their quality and assess performance in testing
        COVID-19

Read 192 page research report with ToC on "Laboratory Proficiency Testing Market Size, Share & Trends Analysis Report By Industry Scope (Clinical Diagnostics, Pharmaceuticals), By Technology (Cell Culture, PCR), By End Use, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/laboratory-proficiency-testing-market

Initiatives undertaken by the governments to raise awareness are anticipated to further boost market growth. For instance, in November 2020, the National Accreditation Board for Testing and Calibration Laboratories' (NABL-IGS) awareness program was conducted to raise awareness about the significance of accrediting geotechnical laboratories in Kerala, India.

The increasing adoption of fully-automated instruments and automation in laboratories is expected to boost market growth. The presence of accreditation programs aimed to combat challenges, such as safety and complexity in the food supply chain, is expected to boost market growth. For instance, in March 2020, AOAC INTERNATIONAL expanded its Laboratory PT Program by adding testing for infant formula and adult nutritional and pH to ensure safety in the food supply chain.

The presence of new environmental protection regulations due to COVID-19 is expected to boost market growth. For instance, in June 2020, the Environmental Diagnostics Laboratory (EDLab) at Pure Air Control Services was accredited by the A2LA for testing environmental SARS-CoV-2

The market is highly competitive as there are a large number of organizations providing various programs. Furthermore, the prices vary between the organizations based on programs and additional discounts. The companies are focusing on the use of automated instruments and new programs continue gaining profits in the market. These new programs, coupled with the growing demand for safety and efficacy of food products and diagnostics owing to the SARS-CoV-2 pandemic, are expected to intensify competition over the coming years.

Grand View Research has segmented the global laboratory proficiency testing market on the basis of industry scope, technology, end-use, and region:

    --  Laboratory Proficiency Testing Industry Scope Outlook (Revenue, USD
        Million, 2016 - 2027)
        --  Clinical Diagnostics
            --  Clinical Chemistry
            --  Immunochemistry
            --  Hematology
            --  Oncology
            --  Molecular Diagnostics
                --  PCR
                --  Others
            --  Coagulation
        --  Pharmaceuticals
            --  Biologics
                --  Vaccines
                --  Blood
                --  Tissues
            --  Others
        --  Microbiology
            --  Pathogen Testing
            --  Sterility Testing
            --  Endotoxin & Pyrogen Testing
            --  Growth Promotion Testing
            --  Other Microbial Testing
        --  Others
    --  Laboratory Proficiency Testing Technology Outlook (Revenue, USD Million,
        2016 - 2027)
        --  Cell Culture
        --  Spectrometry
        --  Polymerase Chain Reaction
        --  Chromatography
        --  Immunoassays
        --  Others
    --  Laboratory Proficiency Testing End-use Outlook (Revenue, USD Million,
        2016 - 2027)
        --  Hospitals
        --  Contract Research Organizations
        --  Pharmaceutical & Biotechnology Companies
        --  Academic Research
        --  Diagnostic Laboratories
            --  Independent Laboratories
            --  Specialty Laboratories
    --  Laboratory Proficiency Testing Regional Outlook (Revenue, USD Million,
        2016 - 2027)
        --  North America
            --  U.S.
            --  Canada
            --  Mexico
        --  Europe
            --  U.K.
            --  Germany
            --  France
            --  Italy
            --  Spain
        --  Asia Pacific
            --  Japan
            --  China
            --  India
            --  South Korea
            --  Singapore
            --  Malaysia
            --  Vietnam
            --  Thailand
            --  Oceania
        --  Latin America
            --  Brazil
            --  Argentina
        --  Middle East & Africa
            --  South Africa
            --  North Africa
            --  UAE
            --  Saudi Arabia
            --  Qatar
            --  Bahrain
    --  List of Key Players of Laboratory Proficiency Testing Market
        --  LGC Limited
        --  American Proficiency Institute
        --  College of American Pathologists
        --  Bio-Rad Laboratories, Inc.
        --  Randox Laboratories Ltd.
        --  QACS - The Challenge Test Laboratory
        --  Merck & Co., Inc.
        --  Weqas
        --  ERA
        --  AOAC International
        --  BIPEA
        --  NSI Lab Solutions
        --  Absolute Standards, Inc.
        --  RCPA
        --  UK NEQAS
        --  INSTAND

Find more research reports on Clinical Diagnostics Industry, by Grand View Research:

    --  Molecular Diagnostics Market - The global molecular diagnostics market
        size was valued at USD 9.2 billion in 2019 and is anticipated to
        register a CAGR of 9.0% over the forecast period.
    --  Immunoassay Market - The global immunoassay market size was estimated at
        USD 18.02 billion in 2018 and is expected to exhibit a CAGR of 5.0%
        during the forecast period.
    --  Polymerase Chain Reaction Market - The global polymerase chain reaction
        market size was valued at USD 4.5 billion in 2019 and is expected to
        expand at a compound annual growth rate (CAGR) of 17.5% from 2020 to
        2027.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.