Laboratory Proficiency Testing Market is Projected to Grow at A CAGR of 6.9% During 2020-2026

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OVERVIEW

Laboratory Proficiency Testing Market is valued at USD XX million in 2019 and is expected to reach USD 1301.5 million by the end of 2026.

Bizlytik analysts forecast the global Laboratory Proficiency Testingmarket to grow at a CAGR of 6.9% during the forecast period, according to their latest market research report.

Proficiency Testing Program is designed to ensure accurate laboratory results and is used to monitor laboratories continuing performance. Proficiency testing is also known as an interlaboratory comparison. Proficiency testing compares the results obtained by different laboratories, and helps laboratories to provide report accurately, reproducible results, offers a reliable, independent assessment of quality service, and demonstrates the effectiveness of the quality system.

Proficiency testing helps to examine Food and water microbiology to ensure food safety and water safe for drinking. The increasing testing for food, water, and moisture has shown growth to the market. For instance, European Commission’s Joint Research Centre (JRC) with the German Federal Institute for Materials Research and Testing (BAM) has invited expert laboratories to participate in the proficiency tests on specific microplastics in water (bottled water, drinking water) and polyethylene in sediments. Moreover, the American Association of Textile Chemists and Colorists has introduced moisture management proficiency test featuring fabrics. The moisture management test methods cover wicking, drying rate, and comfort.

Chromatography, and Othersare covered in the Type segment of the market scope.Applicationsegment is categorized intoClinical Diagnostics, Microbiology, Food, Animal Feed, Commercial Beverage, and Others. The report covers valueof the global market by Type, and Application.

The market value of Microbiology was USD XX Million in 2019, and it is expected to reach USD XX Million by 2026, growing at a CAGR of 7.1% during 2020-2026.The increasing investment for Proficiency Testing, collaboration between companies and regulatory bodies to conduct Proficiency Testing, and introduction of a new range of Proficiency Testingwould propel the growth of the segment.

North America, Europe, AsiaPacific, South America, and Middle East & Africa are taken into consideration at the global Laboratory Proficiency TestingValue figures. While North America is further categorized into enhancing United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involvingGCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North AmericaLaboratory Proficiency Testingmarketwas USD XX Million in 2019, and it is predicted to reach USD XX Million by 2026, growing at a CAGR of 7.0% during the forecast period. The launch of new Proficiency Testing and regulatory approval for Proficiency Testing to use in a different industrywould improve the growth prospects of the market.

Major players operating in the Laboratory Proficiency Testing industry include LGC Limited, Bio-Rad Laboratories, Randox Laboratories, Merck, QACS Laboratory, Fera Science Limited, Phenova Inc., Weqas, Advanced Analytical Solutions, BIPEA, Absolute Standards Inc., NSI Lab Solutions, AOAC International.

The Laboratory Proficiency Testing is highly fragmented with large number of global and local playerscompeting in the existing market scenario to expand business opportunities through rising product sales, strategic collaboration to conduct Proficiency Testingand improvement in product service-life.