Laboratory Proficiency Testing Market Driven by End-Use Adoption across F&B as well as Drug Companies
Global laboratory proficiency testing market has emerged as a consistently flourishing space and is anticipated to slate impressive growth and CAGR valuation over the forecast years investigates Adroit Market Research in a recently compiled research data. Laboratory proficiency testing finds ample penetration owing to its meticulous capabilities in adjudging lab performance. Ample scope in technological breakthroughs concerning technological advances in lab testing are anticipated to also lend substantial growth fillip to laboratory proficiency testing market in the coming years.
Stringency in regulatory framework coming from international organizations such as the FDA who emphasize food quality assurance and decide on the efficacy of drugs prior to commercialization is driving global laboratory proficiency testing market towards promising growth in the coming years.
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The laboratory proficiency testing market was valued at USD 801.0 million in 2020 and is expected to grow at a CAGR of 6.3% over the forecast period from 2020 to 2028. Proficiency training in many sectors is an important precondition for organizational competence and authorization. This is one of the main drivers of global laboratory capacity testing business development, internationally. Indeed, the other major drivers driving consumer growth are the tight protection and quality standards for food and pharmaceutical products, and the increasing emphasis on water monitoring.
Laboratory Proficiency Testing Market Gets a Growth Stir with Ample Adoption in COVID-19 Detection
To sustain market relevance, coupled with astute needs to adhere to regulatory norms, market participants across F&B vertical as well as drug making companies are investing judiciously towards proper laboratory testing of their offerings, which is turn is contributing towards a spectacular growth rise qin laboratory proficiency testing market.
Additionally, to offset the challenges of water shortage rampant expansion across water treatment projects are taking spectacular shape. Laboratory proficiency testing is also used to determine the level of water purity and contamination that are essential to understand water drinkability quotient.
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Several countries across the matured regions are making proficiency testing a mandatory practice, thus essentially serving as optimum growth beds for stellar growth rise in laboratory proficiency testing market. These factors allow regions such as Europe and North America to emerge as potent growth beds supporting market potency and expansion.
various laboratory-based proficiency tests are being launched at the backdrop of raving coronavirus burden. In this light, LGC has come up with novel proficiency testing solutions to detect COVID-19 instances based on nucleic acid amplification tests.
The global Laboratory proficiency testing market has been bifurcated based on industry, and region. In terms of industry the market is divided into pharmaceuticals, biologics, clinical diagnostics, microbiology, cosmetics, cannabis, food and animal feed, commercial beverages, water, environmental, dietary supplements, nutraceuticals. Key players serving the global market include Fera Science, Randox, LGC, Merck, BioControl Systems Inc., College of American Pathologists, among other prominent players.
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Key segments of the global laboratory proficiency testing market
Industry Overview, 2018-2028 (USD Million)
- Clinical Diagnostics
- Food and Animal Feed
- Commercial Beverages
- Dietary Supplements
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
What does the report include?
- The study on the global laboratory proficiency testing market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of class and Industry. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
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Some Points from Table of Content
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
Chapter 2. Research Methodology
2.2. Data Capture Sources
2.3. Primary Sources
2.4. Secondary Sources
2.5. Market Size Estimation
2.6. Market Forecast
2.7. Data Triangulation
2.8. Assumptions and Limitations
Chapter 3. Market Outlook
3.2. Macroeconomic Indicators
3.3. Market Dynamics
3.4. Porter’s Five Forces Analysis
3.5. COVID-19 Impact Analysis
Chapter 4. Global Laboratory Proficiency Testing Market by Industry, 2018-2028 (USD Million)
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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