Global Laboratory Proficiency Testing Market

1. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 Global laboratory proficiency testingMarket- Industry Trends & Forecast Report 2027 View report Sample report Press release Summary Global Laboratory Proficiency Testing Market, By Industry (Pharmaceuticals, Biologics, Microbiology, Clinical Diagnostics, Food, and Animal Feed, Dietary Supplements, Nutraceuticals, Commercial Beverage, Water); By Technology (Spectrophotometry, Chromatography, ELISA, PCR, Cell Culture, Other Technologies); By End-User (Hospitals, Contract Research Organizations, Pharmaceutical & Biotechnology Companies, Academic Research, Diagnostic Laboratories, Independent Laboratories, Speciality Laboratories); By Region (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027. A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global laboratory proficiency testing market was worth USD 824.5 Million in 2020. The market is further projected to reach USD 1,233.5 Million by 2027, at a CAGR of 6.3 % during the forecast period (2021-2027). The increasing stringency in regulations for food and pharmaceutical industries by governing bodies like the FDA, and Food Safety Promotion Board, coupled with the growing demand for water testing, government aids, and the onset of COVID-19 pandemic, has established the global laboratory proficiency testing market as a major industry. Moreover, the growing number of new proficiency testing programs by the key players has also led to the growth of the global laboratory proficiency testing market.

2. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 Report Overview The global laboratory proficiency testing market was worth USD 824.5 Million in 2020 and is further projected to reach USD 1,233.5 Million by 2027, at a CAGR of 6.3% during the forecast period (2021-2027). Due to factors such as the growing focus on water testing, stricter safety and quality regulations regarding food and pharmaceutical products, growth in the biosimilars market, the surge in demand for packaged food products, and strict quality control policies the global laboratory proficiency testing market is witnessing prolific growth. Additionally, the increasing number of cannabis testing laboratories is also predicted to propel the global laboratory proficiency testing market. Furthermore, the growing number of new proficiency testing programs provided by the major players is also contributing to the growth of the global market for laboratory proficiency testing. Global Laboratory Proficiency Testing Market Overview Laboratory proficiency testing is a procedure that determines and evaluates the performance of individual laboratories for specific tests or measurements. Laboratory proficiency testing compares the results obtained from different laboratories; hence it is also called interlaboratory comparison. Laboratory proficiency testing is essential for quality assurance since it reassures the accurate performance of each laboratory. Since November 2020, the European Civil Protection and Humanitarian Aid Operations (ECHO), the World Health Organization (WHO), the Department of Health (DOH), and local governments have been providing training to ensure accreditation of testing laboratories. As a result of these measures by organizations to address the challenges faced by

3. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 laboratories related to accreditation, the market for laboratory proficiency testing has grown significantly in recent years. Global Laboratory Proficiency Testing Market trend Growth Drivers Growing stringency in the regulations of Food & Drug Quality Strict regulations are being imposed by various regulatory bodies, such as Food and Drug Administration, International Food Protection Training Institute, Food Safety Promotion Board, etc., to ensure the quality and safety of food and drug products, which in turn is driving the growth of the global laboratory proficiency testing market. Additionally, an increase in the demand for testing water in laboratories, factories, and manufacturing units both to determine contamination levels and to render it portable is also expected to boost the growth of the global laboratory proficiency testing market. Moreover, the surge in antimicrobial susceptibility testing due to strict regulations implemented by drug control authorities in pharmaceutical industries also assists in the growth of the global laboratory proficiency testing market. Furthermore, testing microorganisms and pathogens in the cosmetics and nutraceuticals sector have also played a significant role in propelling the demand for laboratory proficiency testing. Thus, it is expected that the global laboratory proficiency testing market will continue to grow substantially. Restraints High cost involved in the global laboratory proficiency testing market The high investment involved in accurate and minute testing is a significant restraint for the global laboratory proficiency testing market. Testing is done using many sophisticated and expensive instruments such as a spectrophotometer, HPLC, Gel Permeation Chromatography Systems, Cell Harvest Systems, and many more. It also costs a great deal to install these instruments; as a result, laboratory proficiency testing requires a heavy investment. Further, costly methods such as ELISA and PCR are employed in the global laboratory proficiency testing market, which requires highly skilled technicians and increases the cost of laboratory proficiency training, thereby hindering the market growth. Impact of COVID-19 The onset of COVID-19 has adversely affected the lives and businesses of millions across the globe. It has hampered businesses by severely hampering the economies of the countries. However, the pandemic has had a positive effect on the global laboratory proficiency testing market. As diagnostic laboratories are becoming more regulated by the COVID-19, laboratory proficiency testing is entering the global market with an increase in adoption. Proficiency testing ensures that tests for the detection of the new coronavirus are precisely rendered, processed, and delivered in order to obtain high precision in results. Global Laboratory Proficiency Testing Market by Industry

4. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 Based on industry type, the global laboratory proficiency testing market is divided into pharmaceuticals, biologics, microbiology, clinical diagnostics, food and animal feed, dietary supplements, nutraceuticals, commercial beverage, water. Among these, the microbiology segment is leading the global laboratory proficiency testing market as microbiology labs are increasingly seeking laboratory proficiency testing as a result of the increased demand. The market for microbiology and pathology will continue to grow as infectious diseases have become more prevalent, which has led to several strict regulations designed to prevent pathogenic infestations. Additionally, the growth in antimicrobial susceptibility testing spurs the laboratory proficiency testing market. Global Laboratory Proficiency Testing Market by Technology Based on technology types, the global laboratory proficiency testing market is divided into spectrophotometry, chromatography, Elisa, PCR, cell culture, and other technologies. Elisa or the immunoassay segment is the largest amidst technology segmentation of the global laboratory proficiency testing market. The segment's growth is due to factors like the increasing use of ELISA to diagnose many antigens or antibodies in the blood. The ELISA assay is a highly accurate and ready-to-use technique that is highly efficient in a laboratory and on-site setting. Elisa is also utilized to quantify specific analytes in the blood through immunological reactions. Due to its varied application, accuracy, and efficiency, Elisa is the most significant technological segment in the global laboratory proficiency testing market. Global Laboratory Proficiency Testing Market by End-User Based on end-users, the global laboratory proficiency testing market is divided into hospitals, contract research organizations, pharmaceutical & biotechnology companies, academic research, diagnostic laboratories, independent laboratories, specialty laboratories. Among the end-user segments in the global laboratory proficiency market, hospitals have the largest market share due to their large patient volume, which results in many diagnostic procedures and testings. Due to this, the laboratories in hospitals have to be kept in pristine condition for accurate results and efficient running. Thus, laboratory proficiency testing is done very often in hospitals to ensure an optimum patient safety level. This factor makes the hospitals the largest end-user segment in the global laboratory proficiency market. Global Laboratory Proficiency Testing Market by Region Based on region type, the global laboratory proficiency testing market is divided into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. In the global laboratory proficiency testing market, North America holds the largest market share due to the compulsory adoption of proficiency testing to ensure operational superiority. Moreover, the regulatory stringency regarding laboratory operations set up by authoritative bodies like Medicines and Healthcare Products Regulatory Agency and FDA has also resulted in the growth of the global laboratory proficiency testing market. North America is one of the leading regional hubs for pharmaceuticals, food, water and environment, commercial beverages, and cosmetics, which enables the scope of laboratory proficiency testing in this

5. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 region to grow rapidly. Competitive Landscape The growing stringency in regulations for food and pharmaceutical industries, and the growing demand for water testing coupled with government aids, and the onset of the COVID-19 pandemic have established the global laboratory proficiency testing market as a significant industry. Stringent regulations have, in turn, led to stiff competition amongst the major players of this domain. Key players of this market are- Bio-Rad Laboratories, NSI Lab Solutions, Absolute Standards Inc., Bipea, Advanced Analytical Solutions, LLC, Phenova Inc., AOAC, FAPAS, QACS - The Challenge Test Laboratory, UK NEQAS, Waters Corporation, LGC Limited, American Proficiency Institute, College of American Pathologists, Randox Laboratories, Weqas, INSTANT, RCPA, NSI Lab Solutions, ERA. Recent Developments · In July 2021, The College of American Pathologists granted Microbiome Insights Laboratory accreditation as a global leader in end-to-end microbiome sequencing and full bioinformatic analysis (CAP). The company has joined an exclusive group of clinical laboratories around the world that have demonstrated their dedication to the highest standards of clinical laboratory testing, record- keeping, reporting, safety, and quality. · In April 2021, The African Organisation for Standardisation (ARSO) and AOAC INTERNATIONAL signed a Memorandum of Understanding to establish a strategic partnership to enhance food safety and security in Africa.

6. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 Attribute Details Years Considered Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Million Market Coverage U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Argentina, Mexico. Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia Product/Service Segmentation By Industry, By Technology, By End- User, By Region Key Players Bio-Rad Solutions, Absolute Standards Inc., Bipea, Advanced Analytical Solutions, LLC, Phenova Inc., AOAC, FAPAS, QACS - The Challenge Test Laboratory, UK NEQAS, Waters Corporation, LGC Limited, American Institute, College Pathologists, Randox Weqas, INSTANT, RCPA, NSI Lab Solutions, ERA. Laboratories, NSI Lab Proficiency American Laboratories, of § By Industry o Pharmaceuticals § Branded/Innovator Drugs § OTC § Generics § Biosimilars o Biologics

7. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 § Blood § Vaccines § Tissue o Microbiology § Sterility Testing § Endotoxin & Pyrogen Testing § Pathogen Testing § Growth Promotion Testing § Other Microbial Testing o Clinical Diagnostics § Routine Chemistry § Hematology § Endocrinology § Other Tests o Food and Animal Feed § Dairy Products § Meat & meat products § Eggs § Fish § Fat/Oil § Vegetables & fruits § Other Products o Dietary Supplements o Nutraceuticals o Commercial Beverage § Alcoholic Beverages § Non-alcoholic Beverages § Water o Environment

8. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 § By Technology o Spectrophotometry o Chromatography o ELISA o PCR o Cell Culture o Other Technologies § By End-User o Hospitals o Contract Research Organizations o Pharmaceutical & Biotechnology Companies o Academic Research o Diagnostic Laboratories o Independent Laboratories o Specialty Laboratories § By Region o North America o Europe o the Asia-Pacific o Latin America o the Middle East and Africa

9. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 FAQs: 1.What is the current size of the global laboratory proficiency testing? Answer: The global laboratory proficiency testing reached USD 824.5 Million in 2020. 2.What are the major factors driving the growth of global laboratory proficiency testing? Answer: Food and pharmaceutical industry regulations, the growing demand for water testing, and the COVID-19 pandemic are the primary factors driving the growth of global laboratory proficiency testing. Who are the leading players in global laboratory proficiency testing? Answer: Bio-Rad Laboratories, NSI Lab Solutions, Absolute Standards Inc., Bipea, Advanced Analytical Solutions, LLC, Phenova Inc., AOAC, FAPAS, QACS - The Challenge Test Laboratory, UK NEQAS, Waters Corporation, LGC Limited, American Proficiency Institute, College of American Pathologists, Randox Laboratories, Weqas, INSTANT, RCPA, NSI Lab Solutions, ERA, and other prominent players. 3. Which technology accounted for the largest share in the global laboratory proficiency testing? Answer: Based on technology, ELISA accounted for the largest share in the global laboratory proficiency testing. 4.Which region is growing at a higher rate in the global laboratory proficiency testing? Answer: North America is growing at a higher rate in global laboratory proficiency testing.

10. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027 About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade- off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com

11. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027

12. Global Laboratory Proficiency Testing Market Proliferating—Projected to Reach Worth USD 1,233.5 Million by 2027