February 19, 2025
Demand for standardization, quality assurance and regulatory compliances:The demand for laboratory proficiency testing

The Growing Need of Quality Assurance in Clinical Diagnostics Drives the Laboratory Proficiency Testing Market

The clinical diagnostic testing industry relies on accurate and reliable laboratory results for diagnosis and treatment purposes. Proficiency testing allows labs to evaluate their performance through sample testing and analysis of results from peer labs. It helps identify errors and inconsistencies along with necessary corrective steps for improved processes. The global laboratory testing market involves millions of tests conducted annually requiring robust quality control systems. Non- compliant lab reports can negatively impact medical decisions and affect patient safety. Regulatory bodies like CMS (Clinical Laboratory Improvement Amendments) and ISO (International Organization for Standardization) have made ongoing proficiency testing mandatory for labs to maintain accreditation and certifications.

The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 2.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

An increasing focus on global harmonization is one of the key trends witnessed in the laboratory proficiency testing market. Multi-national diagnostic companies operate laboratories across several countries necessitating consistent quality standards worldwide. International proficiency testing providers help labs meet regulatory compliance requirements of different authorities through customized programs. The use of web-based assessment software allows secure online submission and evaluation of proficiency samples minimizing paperwork. Cloud-based platforms also facilitate any-time access of performance reports and quick remedial actions. Customized proficiency panels catering to specific testing areas such as microbiology, toxicology, and clinical chemistry are gaining popularity as they provide in-depth competency validation.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as this is a well-established market that requires significant capital investments and economies of scale to successfully compete.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have several options but requirements for quality and compliance reduce flexibility.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many components suppliers and switching costs are low.
Threat of new substitutes: The threat of new substitutes is moderate as alternative quality control testing methods can disrupt the market over the long term.
Competitive rivalry: Competition is intense as players compete on quality, pricing, and service.

Key Takeaways

The global Laboratory Proficiency Testing Market Growth is expected to witness high growth.

Regional analysis: North America dominates the global market and is expected to continue its dominance during the forecast period. Stringent regulatory policies regarding quality control and inter-laboratory proficiency testing across industries such as food, pharmaceuticals, and environment are major factors driving market growth.

Key players:

Key players operating in the Laboratory Proficiency Testing Market are Mason Corporation, Ace Chemical Company, City Chemicals LLC, TIB Chemicals AG, Pfaltz & Bauer Inc., GFS Chemicals, Showa America, S V Plastochem Private Limited, Westman Chemicals Pvt, William Blythe, Haihang Industry Co.,Ltd, and Strem Chemicals. These players are focusing on adopting organic and inorganic growth strategies like partnerships, mergers, acquisitions and new product launches to gain higher market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
+ posts

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →