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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Ferric Hydroxide Market is expected to rise significantly during the forecast period (2019-2027)

Ferric hydroxide, often known as iron (III) hydroxide, is a naturally occurring granular, dark orange-colored material. Ferric hydroxide is used in water treatment to eliminate common contaminants present in high concentrations in domestic wells, such as arsenic, fluoride, selenium, and cadmium. Heavy metals like arsenic are always present in ground wells, which are the principal sources of water in rural regions. It is difficult to detect because it has no taste or odour, and chronic ingestion could lead to cancer and skin problems. Ferric hydroxide is also used in the pharmaceutical business to make treatments for hematinic patients.

 

Market Outlook

Because to the increased use of ferric hydroxide in the water treatment industry, the global ferric hydroxide market is expected to rise significantly during the forecast period (2019-2027). Growing demand for potable water is likely to boost demand for ferric hydroxide, propelling the market forward during the forecast period. The need for clean water is predicted to rise as the world's population grows. This is projected to increase demand for ferric hydroxide, propelling the market forward. Ferric hydroxide is also preferred by water treatment firms all over the world because of its high efficiency in treating water. This is predicted to boost demand for ferric hydroxide and, as a result, the market's growth. Ferric hydroxide is also used in the pharmaceutical sector to make injectable medication for individuals with iron deficiency. In the near future, the market is likely to rise due to rising demand for intramuscular medicine over the world.

Despite the fact that ferric hydroxide removes heavy metal impurities, it still requires the use of expensive filters, which is projected to limit the worldwide ferric hydroxide market's growth over the forecast period.

 

Ferric Hydroxide Market
Ferric Hydroxide Market

Market Regional Analysis

During the projected period, North America is expected to earn the largest market share in the worldwide ferric hydroxide market. This is due to rising demand for ferric hydroxide in the region's water treatment industry. The United States and Canada are projected to contribute significantly to the region. With rising demand for clean water in the region, Europe is projected to follow North America in the market. Furthermore, due to the increasing use of ferric hydroxide in water treatment applications, Asia Pacific is predicted to rise significantly throughout the projection period. In the foreseeable future, China is likely to be the region's largest contributor.

 

 

 

Market Players

ZeniMac Exim, Reade, DuPont, and American Elements are major players in the global ferric hydroxide market.

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