Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Global Industry Trends in the Medicinal Cannabis Market

 The global medicinal cannabis market, segmented by point of sale (dispensaries, online pharmacies, and hospital pharmacies), active ingredient (tetrahydrocannabinol (THC) and cannabidiol (CBD), and therapeutic use (pain, arthritis, and neurological disease).

Medicinal Cannabis 


The legalisation of Medicinal Cannabis would spur greater study and provide a vital medical option for treating a variety of illnesses such as chemotherapy-induced side effects, epilepsy, and chronic pain, all of which are likely to drive the Medicinal Cannabis Market forward in the near future. The Australian government revised the Narcotics Drugs Act 1967 in February 2016 to allow cannabis growing for therapeutic or scientific reasons under a national licencing structure, which is likely to boost the region's medicinal cannabis sector. Furthermore, Australia's government declared in January 2018 that it will legalise medicinal cannabis exports, which is expected to boost domestic manufacturers' profits.

Medicinal Cannabis is less harmful and has less side effects when compared to other medical options. It's also used in combination with other drugs to boost their efficacy or reduce unwanted side effects. It works wonders in lowering nausea and increasing appetite in chemotherapy patients, for example. It's also used in tandem with standard opioid medicines, allowing patients to lessen their opioid dosage and frequency while still getting better pain relief.

Geriatric people are more likely to develop chronic illnesses and require more physician visits, so the world's ageing population has played a big role in raising demand for medicinal cannabis.

Clinical studies, research and development (R&D) initiatives, and the commercialization of cannabis-based indications are also projected to boost market growth.

Although health-care spending is less affected by changes in disposable income, medical Cannabis use is affected by changes in disposable income due to its unconventional character. As a result, rising disposable incomes are expected to have a beneficial effect on medical cannabis demand.

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