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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Pharmaceutical Packaging Market Overview, Analysis and Regional Insights

Pharmaceutical packaging, often known as medication packaging, encompasses activities ranging from pharmaceutical manufacturing to end-user distribution via distribution networks. Technological advancements, rising demand for drug delivery devices, rising demand for environmentally friendly and reusable packaging, rapid development in healthcare services coupled with rapid urbanisation, particularly in emerging economies such as India and China, are some of the major factors driving the global pharmaceutical packaging market.

The price of raw materials is generally not constant and varies from season to season and from place of origin, which might reduce the purchasing power of such things. As a result, one of the key reasons impeding market growth is fluctuating raw material prices used in the manufacturing of pharmaceutical packaging products. The impact of this limitation, on the other hand, is likely to be moderate over the forecast period.

The increasing sale of counterfeit medications around the world is another key element affecting market growth. The sale of counterfeit pharmaceuticals is particularly prevalent in Asia Pacific. Counterfeiters employ ordinary packaging, which has a negative impact on the region's pharmaceutical packaging market growth. The growth of counterfeit pharmaceuticals is projected to be slowed by government regulatory efforts and media influence. The foregoing reasons are likely to reduce the impact of counterfeit medications on the pharmaceutical packaging market by the end of the forecast period. For example, under Europe's new Anti-Falsification Directive, pharmaceuticals prescribed by doctors will be required to be labelled with a unique identification number, indicating that the packaging is genuine and new, beginning in 2017.

Pharmaceutical Packaging Market
Pharmaceutical Packaging Market


In 2016, North America dominated the pharmaceutical packaging equipment market, with a market share of over 40%, and this is likely to continue during the forecast period. The United States is the leading contributor to market growth and is likely to continue to do so during the forecast period, owing to regular product launches by major pharmaceutical packaging manufacturers. Furthermore, the massive presence of major pharmaceutical manufacturers such as Pfizer is offering huge potential for pharmaceutical packaging manufacturers in the country, which is boosting the growth of this market in North America.

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