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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Carboxymethyl Cellulose Market Overview, Drivers, Market Restraints and Market Trends

Carboxymethyl cellulose (CMC) is a type of cellulose gum made from wood pulp and pure cotton. Cellulose gum is utilised in a wide range of industries, including oil and gas, agriculture, cosmetics and personal care, paint, paper processing, pharmaceutical, food and beverage, and household care.

 

Drivers:

The carboxymethyl market cellulose is predicted to develop due to rising demand for functional additives in food that aid in manufacturing gluten-free and low-fat foods. It thickens and stabilises the food, as well as replacing it by boosting the fibre content. Furthermore, rising demand for low-fat, gluten-free frozen desserts is likely to drive market expansion. CMC aids in the preservation of dessert texture by keeping ice cream and yoghurt from melting.

The pharmaceutical industry's growing demand for natural stabilisers in the production of various medications is projected to propel carboxymethyl cellulose's market expansion. Geriatric population rise is boosting healthcare demand, which is affecting industrial growth. As a result, the increased demand for natural stabilisers in medicine manufacturing is predicted to boost carboxymethyl cellulose's market growth.

 

Carboxymethyl Cellulose Market
Carboxymethyl Cellulose Market

Market Restraints

Substitutes such as hydroxypropyl cellulose, guar gum, ethylcellulose, and methylcellulose pose a threat since they have similar qualities to carboxymethyl cellulose and can be used to replace it in a variety of applications. This aspect is predicted to stifle the carboxymethyl cellulose market's expansion.

The manufacture of carboxymethyl cellulose is being hampered by a decrease in raw material availability. This has an impact on the product's demand and supply. Over the forecast period, this issue is expected to stifle market expansion.

 

Market Trends/Key Takeaways

A increasing trend is for significant manufacturers to form strategic alliances such as mergers and acquisitions in order to expand their businesses on a global and regional scale. Nouryon, for example, inked a deal to buy JM Huber's carboxymethyl cellulose (CMC) business in January 2020. Nouryon's carboxymethyl cellulose product portfolio now includes a comprehensive line of CMC grades as a result of this acquisition.

 

One of the current industry trends is the increased usage of carboxymethyl cellulose in alcoholic beverages such as wine and beer. Demand for carboxymethyl cellulose in such drinks is increasing as a result of rising alcohol consumption as a result of globalisation. Over the forecast period, rising consumption of dairy and meat products containing CMC as an emulsifier is likely to fuel market expansion.

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