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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Chitin Market Overview, Analysis and Outlook

Chitin is the second most abundant organic chemical in nature, and it naturally appears as a fiber-forming polymer in many lower eukaryotes, similar to how cellulose protects plants. It's an unbranched long-chain polysaccharide made up of N-acetylglucosamine residues linked by 1,4 covalent bonds. Chitin is found in a variety of biological structures, including insect peritrophic matrix, fungal cell walls, crustacean cuticles, protozoan cyst walls, and nematode eggshells. Chitin derivatives, such as chitooligosaccharides, have a wide range of biotechnological applications due to their diverse properties. Chitin derivatives are also widely employed in biomedicine, pharmaceutical and food technologies, and agricultural biosciences.

Cuticles of various crustaceans, mostly shrimps and crabs, are the principal suppliers of chitin. For chemical extraction of chitin Market, chemical demineralization and deproteinization are commonly employed procedures. The chitin in the crabshell allows soil organisms to release chitinases, which are enzymes that break down chitin. Chitin, a component of flea egg shells, is degraded by chitanases. Because chitin is present in the fertiliser, it acts as a natural biopesticide, making it non-toxic to animals, fish, birds, and plants.

 

Chitin Market
Chitin Market

Chitin Market Outlook

The most promising markets for chitin manufacturers are likely to be Asia Pacific and North America. This is due to the rapidly expanding healthcare business, as well as an increase in medical tourism in emerging nations like India. The Indian healthcare market is estimated to reach USD 280 billion by 2020, according to IBEF. The health budget in India's Union Budget 2017-18 was increased from USD 5.96 billion to USD 7.3 billion. The Indian healthcare industry is rapidly growing as a result of its expanding coverage, services, and significant public and private investment. The India Brand Equity Foundation (IBEF) is a Trust created by the Ministry of Commerce and Industry, Department of Commerce, in partnership with the Government of India, with the goal of promoting and raising international awareness of Indian-made goods.

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