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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Narcotics Analgesics Market: Overview, Drivers and Restraints

 The steady rise in narcotic analgesic sales is mostly due to the development of tolerance for non-narcotic analgesics. Narcotic analgesics are commonly utilised in palliative care services to treat patients suffering from neuropathic pain due to their better efficacy in pain control and early beginning of action. Increased attention on palliative care services in third-world nations, as well as readily available reimbursements, are predicted to raise global narcotic analgesic consumption.

Furthermore, several government initiatives in low- and middle-income nations to provide palliative care for the effective treatment of patients suffering from excruciating cancer pain are driving up demand for narcotic analgesics as pain medication in these countries.

The demand for Narcotic Analgesics Market in the United States is being driven by reimbursements for post-operative care and palliative care. The reimbursement scenario for wound care and wound management treatment is driving up narcotic analgesic drug consumption. Supportive insurance policies for chemotherapy cycles and post-operative care in developing nations are likely to drive global demand for narcotic analgesics.


Narcostics Analgesics Market
Narcostics Analgesics Market

Market Drivers for Narcotics and Analgesics

During the foreseeable period, an increase in research for narcotic analgesics medications is expected to boost the global market's growth. For example, Loma Linda University is conducting a phase III clinical trial for the medication Narco. The study's goal is to assess patient pain levels in the immediate post-operative period and quantify pain medication use in patients who have outpatient ENT surgery. The research began in February 2018 and is expected to be completed in January 2019.

Furthermore, Temple University is conducting a clinical phase II trial with AstraZeneca to determine the impact of opioids on esophageal motility. Chronic opioid users have esophageal motor impairment, according to the research. The safety and tolerability of MOVANTIK (Naloxegol) will be investigated in this trial, which is expected to alleviate opioid-induced esophageal motility problems. The research began in January 2017 and will be completed in January 2020.

 

 

 

Restraint in the Narcotics Analgesics Market

Shortages of narcotic analgesics drugs are anticipated to have an impact on the market's growth. According to the Drug Enforcement Administration (DEA) of the United States, a number of injectable opioid drugs, such as morphine, hydromorphone, and fentanyl, are currently experiencing serious shortages in the United States. Patients undergoing interventional procedures such as heart catheterization and surgery require injectable opioids to manage their pain. Because opioid analgesics are particularly potent in pain control, a decrease in supply of these vital medications can result in less effective pain control for patients.

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