Global Laboratory Proficiency Testing Market: Overview
Laboratory proficiency testing ascertains the performance of laboratories for specific testing. Rising technological advancement in the field of laboratory testing is expected to provide growth opportunities in the global laboratory proficiency testing market.
An upcoming Transparency Market Research (TMR) elucidates on size, share, trends, and growth drivers of the global laboratory proficiency market.
Global Laboratory Proficiency Testing Market: Notable Developments
Some latest developments in the field of laboratory proficiency testing area are
- In 2019, the U.S. Food and Drug Administration for the first time conducted tests on grocery products on shelves. The test was carried out to study the greasy and risky chemicals that can settle in the body. The chemical named polyfluoroalkyl substances was found in chocolates, chocolate cakes, and sweet potatoes.
- In June 2019, FDA slams a California based drug maker for not complying with quality control team. It stated that the laboratory failed to maintain written specifications on drugs and it also failed to document the use of active ingredients for carrying out tests.
Identify the Key Factors that will drive your Company’s Growth. Request a Brochure of this Report here
Some of the major players in the global laboratory proficiency testing market are Bio-Rad Laboratories (US), Weqas (Cardiff), FAPAS (UK), Bio-Rad Laboratories (US), College of American Pathologists (US), Bipea (France), NSI Lab Solutions (US), Waters Corporation (US), and Randox Laboratories (UK).
Global Laboratory Proficiency Testing Market: Drivers and Restraints
Factors that drive the global laboratory proficiency testing market area
Stringent Regulations on Food & Drug Quality to Strengthen Market
Stringent regulations imposed by regulatory authorities such as Food and Drug Administration to ensure quality on food and drug products are likely to drive the global laboratory proficiency testing market. Due to stringent regulations various laboratories across the globe are opting for proficiency testing. This is expected to broaden the global laboratory proficiency testing market in the upcoming years. Additionally, rising demand for testing water to determine levels of contamination and its portability is expected to nudge the global laboratory proficiency testing market to expand in the coming years.
Moreover, testing the presence microorganisms and pathogens in food and beverages is anticipated to strengthen the global laboratory proficiency testing market. Pathogen can be found in water, cosmetics, and nutraceuticals sector may propel the demand for laboratory proficiency testing. Thus, the global laboratory proficiency testing market to grow substantially during the forecast period.
Expanding Operations in Future? To Get the Perfect Launch Ask for a Custom Report here
High Cost to Restraint Global Laboratory Proficiency Testing Market
High investment associated with accurate and minute testing may hinder the growth in the global laboratory proficiency testing market in the upcoming years.
Irrespective of the constraints, the global laboratory proficiency testing market is projected to broaden due to increasing technological advancement and governments support to pass food and drug products through stringent checks.
Global Laboratory Proficiency Testing Market: Geographical Analysis
The global laboratory proficiency testing market is divided into five key regions such as Latin America, North America, Asia Pacific, Europe, and Middle East. Of these, North America is projected to drive the global laboratory proficiency testing market during the forecast period. The factors contributing to growth in this region are compulsory adoption of proficiency testing for operational excellence, stringent regulations and presence of large number players. Additionally, North America is hub for food and beverages and pharmaceutical industries. Hence, the global laboratory proficiency testing is projected to surge in the coming years
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.