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...

Heavy Power Surgical Tools Market Analysis, Dynamics and Region

During orthopaedic procedures, heavy power surgical tools, also known as heavy duty surgical tools, are commonly utilised to relieve traumatic pain. Market growth is on the rise, creating prospects for medical device producers all around the world. Despite the industry's ongoing slump as a result of the Great Recession, higher healthcare spending and an increase in the number of orthopaedic cases worldwide are predicted to provide good market possibilities for businesses. Surgical instruments with a lot of power are employed. Despite the fact that the market was valued at over US$ 14 billion in 2015, it is highly concentrated, having a presence in all developed regions. As a result, organisations are focusing on inorganic growth to take advantage of the market.

 

Heavy Power Surgical Tools Market Dynamics

Despite the industry's recent slump, it is predicted to rise at a strong rate in the next years. Product innovation and rising customer demand, particularly in developing nations, are driving growth in heavy power surgical equipment. Over 65 percent of the global customer base is concentrated in Asia Pacific. Furthermore, there has been a large growth in healthcare spending in developing nations, as well as an infusion of FDI in medical devices. This is projected to lower operating costs and create a favourable environment for top businesses to invest in emerging areas. Other factors that are predicted to drive the Heavy Power Surgical Tools Market include the ageing population and a favourable regulatory framework.

 

Heavy Power Surgical Tools Market
Heavy Power Surgical Tools Market

Heavy Power Surgical Tools Market Region

North America is the world's leading manufacturer of high-powered surgical instruments. Over 55% of the global market was accounted for by the area. This is due to the presence of major players, as well as higher healthcare spending and better healthcare facilities. In comparison to any other region, North America spends a higher percentage of its GDP on healthcare. Furthermore, numerous reimbursement systems and government programmes, such as Obamacare, have boosted the total market for medical devices, particularly heavy-duty surgical instruments.

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