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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The Molecular Diagnostics Market is expected to expand significantly

Molecular diagnostic tests are used to detect differences in certain DNA or RNA sequences that may be linked to disease. Various disorders are caused by a disruption in the relationship between a single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and other factors. Infectious disorders, cancer, virology, and STDs are among the diseases that can be diagnosed with molecular diagnostic tests.

Molecular diagnostics can diagnose specific diseases, which aids in giving patients with precision medicine. The government of various economies is focusing on precision medicine research and development, which is projected to propel the molecular diagnostics market forward over the forecast period. For example, the US government sponsored the Precision Medicine Initiative (PMI) in 2015 to raise awareness of advances in precision medicine.


https://www.coherentmarketinsights.com/
Molecular Diagnostics Market


COVID-19 Impact on Global Molecular Diagnostics Market

COVID-19, which was mostly unknown until the outbreak in Wuhan, China, in December 2019, has gone from a regional issue to a global pandemic in just a few weeks. The COVID-19 pandemic had a negative impact on most companies' total sales, but it had a favourable influence on the molecular diagnostics market due to the increased usage of molecular diagnostic technologies for COVID-19 testing. However, as governments increasingly loosen travel restrictions, there is a rebound in testing numbers.With the COVID-19 pandemic, dealing with infectious disease has become a major medical concern around the world. Aside from vaccinations and therapeutic medications, there is an increasing demand for the development of more precise and simple testing methods, as well as the expansion of testing structures. As governments and healthcare providers face unprecedented problems, COVID-19 has had an impact on the regulatory environment and practises. Regulatory agencies used a variety of techniques to expedite the approval of diagnostic products. Companies have made strategic decisions to implement COVID-19 rapid tests, maintain revenue, and mitigate COVID-19's impact on their operating capabilities.

Regional insights

The greatest share of the worldwide molecular diagnostics market is held by North America, which may be due to rising use of precision medicine and rising cancer prevalence. According to the National Cancer Institute, 16.8 million new instances of cancer were diagnosed in the United States in 2016, with 595,690 people dying from the disease.

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