Australia Laboratory Proficiency Testing Market Size & Outlook
Australia laboratory proficiency testing market, 2018-2030 (US$M)
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Australia laboratory proficiency testing market highlights
- The Australia laboratory proficiency testing market generated a revenue of USD 36.6 million in 2023 and is expected to reach USD 66.5 million by 2030.
- The Australia market is expected to grow at a CAGR of 8.9% 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.
Laboratory proficiency testing market data book summary
| Market revenue in 2023 | USD 36.6 million |
| Market revenue in 2030 | USD 66.5 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Clinical diagnostics |
| Fastest growing segment | Cannabis |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 2.7% of the global laboratory proficiency testing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan laboratory proficiency testing market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 51.3 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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Australia 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 33.06% in 2023. Horizon Databook has segmented the Australia laboratory proficiency testing market based on clinical diagnostics, pharmaceuticals, microbiology, cannabis covering the revenue growth of each sub-segment from 2018 to 2030.
The prevalence of diseases like diabetes and cardiovascular disorders is growing in Australia. For instance, according to Baker Heart and Diabetes Institute, over 330,000 individuals in Australia are suffering from atrial fibrillation, and its prevalence can largely be attributed to diabetes. The prevalence of cancer is growing in the country.
Around 150,000 cancer cases were estimated to be diagnosed in 2020, and this number is expected to rise to 239,770 by 2030. Furthermore, in 2022, over 1.29 million people in the country had diabetes. In addition, one in four people living with diabetes remains undiagnosed. The high burden of diseases in the country is expected to create growth opportunities in the market. In Australia, clinical laboratory tests have major economic value.
Each year, over 500 million tests are delivered, which play a critical role in patient care and clinical decision-making. Routine tests account for 80% of the tests conducted in the country. In addition, the annual increase in patient burden on clinical laboratories is 5% to 10%. This is expected to increase the competition in the Australia market.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Australia laboratory proficiency testing market , including forecasts for subscribers. This country databook contains high-level insights into Australia laboratory proficiency testing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia laboratory proficiency testing market size, by industry, 2018-2030 (US$M)
Australia Laboratory Proficiency Testing Market Outlook Share, 2023 & 2030 (US$M)
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