Asia Pacific Laboratory Proficiency Testing Market Size & Outlook
Asia Pacific laboratory proficiency testing market, 2018-2030 (US$M)
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Asia Pacific laboratory proficiency testing market highlights
- The Asia Pacific laboratory proficiency testing market generated a revenue of USD 291.5 million in 2023.
- The market is expected to grow at a CAGR of 8.7% from 2024 to 2030.
- In terms of segment, clinical diagnostics was the largest revenue generating industry in 2023.
- Cannabis is the most lucrative industry segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 291.5 million |
| Market revenue in 2030 | USD 522.7 million |
| Growth rate | 8.7% (CAGR from 2023 to 2030) |
| Largest segment | Clinical diagnostics |
| Fastest growing segment | Cannabis |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Clinical Diagnostics, Pharmaceuticals, Microbiology, Cannabis |
| Key market players worldwide | LGC Group, Bio-Rad Laboratories Inc, Randox, Merck KGaA, Randox Biosciences, QACS International, Weqas, BIPEA, NSI Lab Solutions, Absolute Standards, Instand |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 21.4% of the global laboratory proficiency testing market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 522.7 million by 2030.
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Laboratory Proficiency Testing Market Scope
Laboratory Proficiency Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific laboratory proficiency testing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to laboratory proficiency testing market will help companies and investors design strategic landscapes.
Clinical diagnostics was the largest segment with a revenue share of 33.04% in 2023. Horizon Databook has segmented the Asia Pacific laboratory proficiency testing market based on clinical diagnostics, pharmaceuticals, microbiology, cannabis covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is becoming a hub for international biopharmaceutical and pharmaceutical companies due to low cost of labor and overall production of high-quality products. Thereby, the continuous laboratory testing of raw materials, finished products, & microbial cultures for production and approval from FDA becomes significant.
To maintain the reliability of results of these laboratories, proficiency testing is a key requirement, which ensures personnel skills and reliable results. The authorities are also implementing more stringent regulations to increase the safety and efficacy levels of laboratories for handling the increased volume of diagnostic testing in the region.
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Target buyers of Asia Pacific laboratory proficiency testing market databook
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Our clientele includes a mix of laboratory proficiency testing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific laboratory proficiency testing market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific laboratory proficiency testing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific laboratory proficiency testing market size, by country, 2018-2030 (US$M)
Asia Pacific Laboratory Proficiency Testing Market Outlook Share, 2023 & 2030 (US$M)
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