Laboratory Proficiency Testing Market to Prosper at a CAGR of 6.8% driven by Growing Focus on Accurate Diagnostic Testing

Laboratory Proficiency Testing Market

Laboratory proficiency testing involves the use of prepared samples that are sent to laboratories to test for various analytes like viruses, bacteria, and chemicals. These tests help laboratories evaluate their laboratory practices, identify training needs, validate new methods and troubleshoot problems. The samples contain known analytes and concentrations which allows the laboratories to compare their results against an acceptable target value range. This helps ensure the accuracy and reliability of diagnostic tests being performed. The growing focus on accurate diagnostic testing across different healthcare domains like clinical pathology, microbiology and molecular diagnostics has driven the demand for proficiency testing programs.

The global laboratory proficiency testing market is estimated to be valued at US$ 1.49 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period of 2024 to 2031.

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, and Immune Modulators Inc.

Key Takeaways
Key players: RxBio Inc. is a leading proficiency testing provider known for its accurate and timely sample delivery. Annova Chem Inc. specializes in chemistry testing programs.

Growing demand: Increasing prevalence of chronic diseases is driving more diagnostic testing, propelling the need for Laboratory Proficiency Testing programs. Moreover, regulatory mandates in different regions necessitate the participation of labs in proficiency testing.

Technological advancement: Adoption of innovative sample collection and transport techniques along with cloud-based assessment software solutions are enhancing efficiency and convenience of proficiency testing programs.

Market Trends
Customized programs: Laboratories are displaying preference for customized proficiency testing programs tailored to their specific testing procedures and needs instead of standardized programs.

Multi-analyte solutions: Vendors are developing multi-analyte proficiency testing panels covering a wide array of analytes to provide labs one-stop solutions for different testing requirements.

Market Opportunities
Point-of-care testing: Expanding access to decentralized diagnostic services at alternate care sites is opening avenues for proficiency programs specific to point-of-care platforms.

Developing nations: Growing healthcare infrastructure and diagnostic capabilities in developing countries offer scope for proficiency testing providers to scale-up their presence in emerging markets.

Impact of COVID-19 on Laboratory Proficiency Testing Market Growth

The COVID-19 pandemic has significantly impacted the growth of the laboratory proficiency testing market. In the pre-COVID era, the market was growing steadily at a CAGR of around 6-7% driven by factors such as rising demand for accurate diagnostic test results, stringent regulations regarding lab accreditation, and increasing number of labs and hospitals.

However, during the pandemic, the market experienced a short-term decline initially due to lockdowns and restrictions imposed worldwide. This led to temporary closure of several proficiency testing provider facilities and delays in sample distribution. It also disrupted the scheduling of on-site audits and inspections at various labs and hospitals globally.

As the pandemic intensified, the focus soon shifted to ramping up COVID-19 testing capacities. This resulted in surge in demand for proficiency testing programs and services to evaluate labs’ testing competencies and validate their COVID-19 diagnostic assays. It became imperative for labs to demonstrate their testing proficiency to regulatory bodies to help tackle the virus spread. Several new proficiency programs specific to SARS-CoV-2 detection also came up during this time.

Going forward, the long-term impact of the pandemic on this market is expected to be positive. With increased investments in expanding national healthcare infrastructures and boosting diagnostic testing abilities, demand for recurrent proficiency testing is likely to remain high post-COVID too. This will help drive the market growth over the forecast period. However, ongoing virus mutations may continue posing new challenges.

North America Dominates the Laboratory Proficiency Testing Market
North America currently dominates the global laboratory proficiency testing market and holds over 40% of the total market share in terms of value. This can be attributed to factors such as stringent regulatory standards regarding lab accreditation and certification in countries like the US. The region is also an early adopter of advanced technologies and has a well-established healthcare system.

Presence of many leading industry players as well as professional organizations promoting quality practices in diagnostics testing further support market growth here. During the pandemic, North America saw huge demand surge for proficiency testing amid ramping up of COVID-19 diagnostic testing capacities. The trend is likely to continue with rising healthcare investments going forward too.

Asia Pacific Witnesses Fastest Growth in the Laboratory Proficiency Testing Market

The Asia Pacific region has been witnessing fastest growth in the laboratory proficiency testing market over the recent past. Factors such as growing medical tourism industry, increasing healthcare expenditure, widespread healthcare reforms, and expansion of private clinical labs have been contributing to this growth.

Countries like India, China, Japan, and South Korea are key drivers as they are building large diagnostic infrastructures to cater to their large patient pools. During the pandemic, their efforts doubled in developing indigenous COVID-19 diagnostic capabilities and adopting external proficiency testing measures. This boosted the regional market growth opportunities. With continued economic expansions, Asia Pacific is expected to emerge as the most lucrative market for laboratory proficiency testing providers in the long run.

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