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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Luxury Hotels Market Overview, Analysis and Market Outlook

The term "luxury hotel" refers to a hotel that provides luxurious lodgings to its customers. The luxury hotels provide rooms with high-quality furnishings, exclusive interior design, and amenities such as a flat-screen TV, coffee maker, and efficient air conditioning. These high-end hotels also provide excellent dining options. Business hotels, airport hotels, suite hotels, resort & spa hotels, and golf & ski hotels are all examples of luxury hotels. Over the projected period, rising expansion in the travel and tourism industry around the world is expected to support growth in the luxury hotel market (2019-2027).

 

Market Outlook

The expanding growth of the travel and tourist sector, rising disposable income, rising standards of living, and increased government investments in the tourism and hospitality industry are predicted to fuel the luxury hotel market.

Luxury Hotels Market
Luxury Hotels Market


According to the India Brand Equity Foundation (IBEF), India was ranked third among 184 nations in terms of overall contribution to GDP from travel and tourism in 2016, and is anticipated to expand at a rate of 7.9% annually from 2016 to 2026.

In terms of revenue, the business hotels category accounted for the greatest proportion of the worldwide luxury hotel market in 2018. Due to an increase in the number of business travellers and increased business travel spending internationally, the market is predicted to rise significantly over the forecast period.

In terms of revenue, North America had the greatest market share among regions in 2018. The United States had the biggest revenue share in North America in 2018, owing to the existence of a significant number of hotel chains in the country, including Marriott International, Inc., Hyatt Hotels Corporation, Shangri-La International Hotel Management Ltd., and Hilton.

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