Selbyville, Delaware, Aug. 27, 2023 (GLOBE NEWSWIRE) --
Laboratory Proficiency Testing Market size is expected to be worth USD 2.2 billion by 2032. The ongoing legalization of medical cannabis and the increasing number of cannabis testing laboratories will contribute to the industry expansion.
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With the expanding acceptance of medical cannabis in various regions, there has been growing demand for accurate and reliable testing to ensure product safety and efficacy. Proficiency testing programs help to verify the competence and accuracy of cannabis testing laboratories. The influx of regulatory frameworks and the rising legalization of medical cannabis has propelled the need for proficiency testing to meet compliance standards.
High application scope in microbiology
The laboratory proficiency testing market share from the microbiology segment is projected to witness a robust CAGR through 2032. The growing importance of microbial analysis in various sectors, such as healthcare, food and beverage, and environmental monitoring, is driving the demand for proficiency testing in the microbiology industry. Furthermore, the rise in accreditation requirements and regulatory standards coupled with the higher need for quality control will foster segment progression.
Diagnostic Laboratories segment to amass substantial gains
The laboratory proficiency testing market share from the diagnostic laboratories segment generated significant revenue in 2022. The rising demand for quality diagnostics has spurred the increasing emphasis on the proficiency and performance of diagnostic laboratories. Regulatory bodies and accreditation agencies often require participation in proficiency testing as a benchmark for maintaining quality standards. The rising efforts taken up by well-established laboratories to deliver accurate and reliable results to address the growing demands of the healthcare sector.
Europe to emerge as a key industry destination
Europe laboratory proficiency testing market accounted for a sizable revenue share in 2022 and is projected to witness substantial progression through 2032 due to the strong presence of robust healthcare systems and stringent quality standards. Several accreditation bodies and regulatory agencies in the region are emphasizing the importance of maintaining high-quality standards in diagnostic testing. The increasing participation of several European laboratories in proficiency testing to validate competency and ensuring accurate diagnostic results.
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Laboratory Proficiency Testing Market Leaders
Bio-Rad Laboratories, Inc., Absolute Standards, Inc., LGC Limited, Fera Science Limited, American Proficiency Institute, and Randox Laboratories Ltd., are some of the leading players in the industry.
Laboratory Proficiency Testing Industry News
- In May 2023, Generon, a renowned biotechnology business, announced collaboration with NSI Lab Solutions, a manufacturing laboratory that provides verified reference materials and proficiency testing standards in chemical and microbiology.
Partial Table of Contents (ToC) of the report:
Chapter 3 Laboratory Proficiency Testing Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Stringent safety and quality regulations for food and pharmaceuticals products
3.2.1.2 Increasing demand for water testing
3.2.1.3 Proficiency testing is a necessary pre-requisite for laboratory's operational excellence
3.2.1.4 Legalization of medical cannabis and increasing number of cannabis testing laboratories
3.2.2 Industry pitfalls & challenges
3.2.2.1 Dearth of skilled professionals
3.2.2.2 Requirement of high-capital investments for advance testing facilities
3.3 Growth potential analysis
3.3.1 By industry
3.3.2 By technology
3.3.3 By end-use
3.4 COVID-19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.5.3 Asia Pacific
3.6 Future market trends
3.7 Technology landscape
3.8 Policy landscape
3.9 Porter’s analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Competitive positioning matrix
4.4 Vendor matrix analysis
4.5 Strategy dashboard, 2022
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