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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Acetonitrile Market Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

Acetonitrile Market
Acetonitrile Market


Acetonitrile is a polar, organic, colourless liquid with an aromatic odour that is mostly created as a byproduct of acrylonitrile production. It is primarily utilised as a solvent in refineries, pharmaceuticals, casting and moulding of plastic products, fragrances, and the extraction of fatty acids from animal and vegetable oil, among other applications.

Market Dynamics:-

Because of its advantageous physical and chemical features, such as low freezing/boiling point and low viscosity, acetonitrile is widely used in the pharmaceutical sector as a critical solvent in the production of antibiotics. Due to its low toxicity, it is also considered safer than other important solvents such as dichloromethane. During the projected period, the worldwide acetonitrile market is expected to gain significant traction from the expanding pharmaceutical industry. The worldwide pharmaceutical business was valued at US$ 1 trillion in 2015, according to the International Trade Association, and is predicted to grow to US$ 1.3 trillion by 2020.

Acute inhalation or contact with acetonitrile can irritate the eyes, skin, and lungs. Due to its low flash point, it is also combustible. Because of these difficulties, acetonitrile is not widely used, which could stifle market expansion throughout the projection period.

 

Market Outlook:-

Because of the region's booming pharmaceutical and chemical industries, Asia Pacific dominates the global acetonitrile market. According to the International Trade Association, China was the world's second-largest pharmaceutical industry in 2015, with a market value of US$ 108 billion that is predicted to grow to US$ 167 billion by 2020.

 

Key Players in the Global Acetonitrile Market:-

Merck KGaA, BASF SE, INEOS Nitriles Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, The Chemical Company, Fisher Scientific UK Ltd, Imperial Chemical Corporation, Avantor Inc., and Nova Molecular Technologies are among the major competitors in the global acetonitrile market.

 

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