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 Theranostics Market Outlook, Dynamics and Drivers

An Overview of the Global Theranostics Market

Theranostics is a relatively young branch of medicine that uses targeted medicines to perform specific targeted testing. These tests are mostly used to diagnose malignancies of various types. Patient-centered treatment with a more tailored and accurate approach is a major concern in medicines. The method combines diagnostic and therapeutic applications to create a single agent. End-users gain from the system because it improves drug delivery, diagnostics, and treatment response monitoring. Theranostics market is predicted to increase significantly in the near future due to rising cancer occurrences and the growing need for cancer combination medicines.

Global Theranostics Market Drivers

Theranostics market growth is likely to be boosted by the development of novel companion diagnostic tests to be utilised with existing treatment options over the forecast period. Leading manufacturers are working to bring new companion diagnostic tests to the market. In 2017, Illumina, Inc. announced the launch of a U.S. Food and Drug Administration (FDA) approved extended RAS panel for identifying patients eligible for Vectibix (panitumumab) treatment of metastatic colorectal cancer.


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Theranostics Market


Over the forecast period, increasing laboratory usage of companion diagnostic tests is expected to fuel global theranostics market growth. In July 2018, the Diagnostic Laboratories of the BloodCenter of Wisconsin began offering the Abbott RealTime IDH1 assay for patients with acute myeloid leukaemia (AML).

Market Dynamics in the Global Theranostics Industry

The worldwide theranostics industry is being driven by the rising incidence of cardiovascular and cancer diseases. According to the World Health Organization, 17.9 million people died from cardiovascular illnesses in 2016. Furthermore, ongoing research initiatives in these domains contribute significantly to market growth. Furthermore, the growing number of strategic alliances and partnerships is expected to move the overall industry forward at a rapid rate. Biocartis Group NV and Amgen Inc. teamed in 2018 to develop companion diagnostic tests for Veectibix, an Amgen medication.

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