Global laboratory proficiency testing market is projected to grow at a CAGR of 6.6%

Wednesday, May 1, 2019 General News
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NEW YORK, April 30, 2019 /PRNewswire/ -- Global laboratory proficiency testing market is projected to grow at a CAGR of 6.6% Read the full report: The laboratory proficiency testing market is projected to reach USD 1,103 million by 2024 from USD 800 million

in 2019, at a CAGR of 6.6% during the forecast period. Proficiency testing forms an essential precondition for operational excellence and accreditation in several industries. This is one of the major factors driving the growth of the proficiency testing market, globally. Also, the stringent safety and quality regulations for food and pharmaceutical products and the increasing focus on water testing are the other major factors supporting market growth.Microbiology proficiency testing market is expected to be dominated by the pathogen testing segment in 2019The microbiology proficiency testing market is segmented into pathogen testing, sterility testing, endotoxin & pyrogen testing, growth promotion testing, and others.The pathogen testing segment is expected to account for the largest market share in 2019.In industries such as food and beverage, detecting pathogens or spoilage microorganisms ensures consumer safety, avoids damage to company brands, and minimizes associated costs.Thus, pathogen testing is a key component and critical success factor in effective food safety and process control programs.Similarly, pathogen testing is carried out in water, cosmetics, biologics, and nutraceuticals industries.North America is expected to account for the largest share of the laboratory proficiency testing market during the forecast period (2019–2024)North America is expected to dominate the laboratory proficiency testing market during the forecast period.The proficiency testing market in North America is characterized by the increasing regulatory stringency regarding laboratory operations as a result of the growing product safety and quality concerns.North America is also home to a large number of proficiency testing providers, such as the American Proficiency Institute, College of American Pathologists, Waters Corporation, and AOAC. Factors such as the mandatory adoption of proficiency testing to demonstrate operational excellence, increasing regulatory stringency regarding laboratory operations, and the presence of a large number of global proficiency testing providers are responsible for the large share of North America in the laboratory proficiency testing market.A breakdown of supply-side primary participants is mentioned below:• By Company Type: Tier 1–49%, Tier 2–41%, and Tier 3–10%• By Designation: C-level–40%, Director-level–35%, Others–20%• By Region: North America–33%, Europe–29%, Asia Pacific–19%, Latin America–10%, and the Middle East and Africa–9%The prominent players operating in this market are LGC Limited (UK), Bio-Rad Laboratories (US), Randox Laboratories (UK), Merck (Germany), College of American Pathologists (US), American Proficiency Institute (US), Waters Corporation (US), QACS (Greece), FAPAS (UK), AOAC (US), Phenova Inc. (US), Weqas (Cardiff), Advanced Analytical Solutions, LLC (UK), Bipea (France), Absolute Standards Inc. (US), and NSI Lab Solutions (US).Research Coverage:The laboratory proficiency testing market in this report is segmented by industry, technology, and region.It provides detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges).The study tracks and analyzes competitive developments (such as partnerships, agreements, collaborations, mergers & acquisitions, product developments, geographical expansions, and R&D activities) and strategically profiles the key players and comprehensively analyzes their market shares and core competencies in the laboratory proficiency testing market.Reasons to buy this report:From an insight perspective, this research report has focused on various levels of analysis—the market share analysis of top players, company profiles that comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the laboratory proficiency testing market; high-growth regions; and market drivers, restraints, and opportunities. The report provides the latest statistics and industry trends, allowing buyers to identify high-growth product segments and potential customers and suppliers and enabling them to drive revenue growth and profitability. The report provides insights on the following pointers:• Market Penetration: Comprehensive information on proficiency tests offered by the top players in the global laboratory proficiency testing market• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the global laboratory proficiency testing market• Market Development: Comprehensive information about lucrative emerging markets–the report analyzes the markets for proficiency tests across regions• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global laboratory proficiency testing market• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global laboratory proficiency testing marketRead the full report: About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: US: (339)-368-6001 Intl: +1 339-368-6001

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