Laboratory Proficiency Testing Market Size

Laboratory Proficiency Testing Market Size

Laboratory Proficiency Testing Market size was valued at around USD 1.2 billion in 2022 and it is estimated to reach over USD 2.2 billion in 2032. Increasing adoption of stringent laboratory guidelines and mandatory quality protocols, rising instances of different outbreaks in past couple of years and increase in overall research spending among other factors are anticipated to prove beneficial for industry growth.

For instance, as per the data reported by U.S. Dept. of Health and Human Services, the Medicare Part B Spending on lab tests in the country witnessed a surge of 17% in 2021 revenue compared to 2020 data. This increase was primarily attributed to genetic and chemistry tests as well as COVID-19 tests. Moreover, growing trend towards legalization of medical cannabis that in turn leading to increase in number of cannabis testing laboratories coupled with surging demand for research in pharmaceutical industry is expected to fuel the market growth. Hence, all the afore-mentioned pointers are projected to support the laboratory proficiency testing market growth over the forecast period.
 

Proficiency testing is the evaluation of research facilities to check and verify the performance of analytical laboratories. It is a mandatory requirement for all the laboratories based on pre-established criteria to ensure that a facility's processes are accurate, safe and in line to other laboratory groups.
 

The accreditation or regulatory bodies look after and monitor the operational excellence of research laboratories operating in different categories. Thus, research facilities face an additional financial thrust of fulfilling the mandatory quality protocols to maintain their credibility ratings as outlined by such associations. Academic as well as small scale laboratories find it difficult to implement and continuously attain such high budget requirements that involves adoption of advanced techniques such as spectrometry, chromatography, etc. Hence, high capital investments in conjunction with lack of trained professionals for proper facility operation is anticipated to hamper the market growth in the coming years.