India Laboratory Proficiency Testing Market Size & Outlook
India laboratory proficiency testing market, 2018-2030 (US$M)
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India laboratory proficiency testing market highlights
- The India laboratory proficiency testing market generated a revenue of USD 26.0 million in 2023 and is expected to reach USD 51.3 million by 2030.
- The India market is expected to grow at a CAGR of 10.2% 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 26.0 million |
| Market revenue in 2030 | USD 51.3 million |
| Growth rate | 10.2% (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, India accounted for 1.9% 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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India 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 33.08% in 2023. Horizon Databook has segmented the India laboratory proficiency testing market based on clinical diagnostics, pharmaceuticals, microbiology, cannabis covering the revenue growth of each sub-segment from 2018 to 2030.
Healthcare reforms in India are underway, as the healthcare expenditure is expected to grow at a rate of over 15% each year. However, healthcare expenditure was as low as 1.28% of the GDP in 2019. In addition, rising incidence of diseases is exerting more pressure on the healthcare infrastructure.
However, lack of advanced healthcare facilities can act as a restraint for the market. Government initiatives, such as Ayushman Bharat and PMNRF, are anticipated to improve public access to diagnostics & treatment.
This is expected to propel the growth of accredited laboratories that can meet the demand of increasing disease burden of the region. The increasing preference for India as contract research as well as manufacturing site is also propelling the demand for R&D laboratories.
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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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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 India laboratory proficiency testing market , including forecasts for subscribers. This country databook contains high-level insights into India laboratory proficiency testing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India laboratory proficiency testing market size, by industry, 2018-2030 (US$M)
India Laboratory Proficiency Testing Market Outlook Share, 2023 & 2030 (US$M)
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