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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Flexographic Printing Inks Market Overview, Drivers and Restraints

Because flexographic ink contains volatile organic compounds (VOCs), it is primarily regulated by the FDA for use in food, beverage, and cosmetic labelling. This could limit the market value of flexographic inks over the forecasted timeframe. The medicine, on the other hand, has good drying properties that allow for better and faster printing speeds. It's also required for high-speed printing operations due to its proclivity for maintaining a strong grip on the printing surface, which will accelerate the industry's scale in the near future. Positive advancements in the packaging business will have a big impact on the market value of flexographic printing inks.

 

Drivers

Flexographic inks are predicted to expand in popularity due to their excellent drying qualities, which increase the printing pace. Due to the increased demand for high-speed printing techniques, flexographic inks are also becoming more popular. As a result, the increased demand for high-performance printing inks is expected to drive flexographic inks market growth in the near future.

 

Flexographic Printing Inks Market
Flexogra[hic Printing Inks Market

The pharmaceutical industry's high demand for flexible packaging is propelling the market for flexographic inks forward. In the packaging of medications and medical devices, flexible packaging is used. The growing senior population is pushing up demand for healthcare services, which is resulting in an expansion of the pharmaceutical business. As a result, the pharmaceutical industry's rise is fueling demand for flexible packaging, which is boosting the market for flexographic inks.

 

Restraint

Mature market in developed countries

In industrialised economies such as North America, Europe, and Japan, the packaging sector has reached the end of its commercial life cycle. This region has limited development potential. Manufacturers are more likely to relocate production units to developing nations than to established ones in order to take advantage of untapped markets.

According to industry experts, the flexographic ink market in industrialised countries has reached saturation and is increasing at a slower rate than in developing regions like Asia-Pacific and South America.

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