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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Overview, Analysis fuel growth and drive growth of the needles market

Needles are used to inject drugs into the body or to take blood from it. It is made up of three parts: a long shaft, a slanted tip called a bevel, and a hub that fits into the syringe's tip. Different types of needles are commonly used in clinical practise for a variety of purposes, including giving medicine to various layers of the skin, performing anaesthetic operations, and performing various surgical procedures. Depending on the clinician's needs, numerous types and materials of needles are available. Fill and filter needles are used for vaccination and other sterile items, and safety needles are used for blood collection and medicine administration in circumstances where the risk of infection from infectious disease is significant.

High prevalence of chronic diseases worldwide is projected to fuel growth of the needles market

Several causes have been linked to the global adoption of needles. One of the key factors driving demand for needles is the high prevalence of chronic disease around the world. According to the World Health Organization (WHO), noncommunicable diseases such as cancer, diabetes, cardiovascular disease, and lung disease accounted for over 70% of deaths globally in 2017, with the majority of deaths occurring in middle and low-income countries. Furthermore, by 2020, chronic diseases are predicted to account for around 75% of all fatalities globally. As a result, market expansion is projected, as needles are an important aspect of chronic disease therapy. According to the International Diabetes Federation's (IDF) Diabetic Atlas, diabetes impacted over 425 million people in 2017.

 

Growing geriatric population worldwide to drive growth of the global needles market

The needles market is predicted to develop in response to the growing elderly population. According to the United Nations' World Population Prospect, 2017 Revision report, there were 962 million individuals in the geriatric category in 2017. This is expected to reach 1.4 billion by 2030, with an annual growth rate of 3%. Due to aging-related disorders such as heart disease, stroke, diabetes, and falling injuries, geriatric patients require frequent hospitalizations. In some circumstances, surgery is necessary, which necessitates hospitalisation. This is predicted to help the market flourish. Asia Pacific currently has a geriatric population of 547 million people, with that number predicted to rise to 900 million by 2025.

Needles Market
Needles Market


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