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. Accordi
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Pharmaceutical Packaging Market Analysis and Key Takeaways

Pharmaceutical packaging, often known as medication packaging, encompasses activities ranging from pharmaceutical manufacturing to end-user distribution via distribution networks. Technological advancements, rising demand for drug delivery devices, rising demand for environmentally friendly and reusable packaging, rapid development in healthcare services coupled with rapid urbanisation, particularly in emerging economies such as India and China, are some of the major factors driving the global pharmaceutical packaging market.

The price of raw materials is generally not constant and varies from season to season and from place of origin, which might reduce the purchasing power of such things. As a result, one of the key reasons impeding market growth is fluctuating raw material prices used in the manufacturing of pharmaceutical packaging Market. The impact of this limitation, on the other hand, is likely to be moderate over the forecast period.


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Pharmaceutical Packaging Market


Key Takeaways of the Market

The Global Pharmaceutical packaging Market was dominated by North America in 2016, with the regional market estimated at US$ 31.56 billion. During the projection period, the region is expected to grow at a CAGR of 6.84 percent in terms of revenue. Furthermore, the United States dominated the market in 2016 and is likely to continue to do so during the projection period. Low density polyethylene (LDP) is widely utilised by pharmaceutical packaging makers in North America because it is safe for the storage of non-sterile pharmaceutical liquids. In addition, the region has a number of quality standards in place, including ISO 14001, ISO 9001, and OHSAS 18001, to ensure the quality of the materials used in pharmaceutical packaging manufacturing. Other factors boosting the pharmaceutical packaging market's growth include frequent product advancements resulting from considerable research and development efforts by the industry's key players. Furthermore, rising urbanisation, enhanced health-care facilities, quick use of contract packaging in the pharmaceutical industry, and strict anti-counterfeiting rules are projected to drive the market in Asia Pacific to new heights in the future years. The World Customs Organization (WCO) intercepted around 113 million counterfeit tablets in 2016, with 97 percent of them made in India and China. Such occurrences are projected to drive the pharmaceutical packaging market in Asia Pacific to new heights.

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