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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Ferrous Fumarate Market Overview, Dynamics, Outlook and Key Players

Market Overview

The iron (II) salt of fumaric acid, ferrous fumarate, is used to prevent and treat iron deficiency anaemia. It is taken as a food supplement and causes an increase in blood iron concentration, which is then digested into haemoglobin. Hemoglobin transports oxygen from the bloodstream to the tissues and organs. Thalassemia, iron deficiency anaemia, tiredness, and anaemia are all treated with ferrous fumarate. It can also be utilised to make a diagnosis.

Market Dynamics

The global ferrous fumarate market is predicted to develop as the prevalence of anaemia and thalassemia rises. Anemia is a disorder in which the body's tissues do not receive enough oxygen due to a shortage of red blood cells. Anemia and iron deficiency are common in women during their reproductive years. Ferrous fumarate tablets are easy to swallow and can be used orally. Because these pills are practically tasteless, they can be crushed or chewed. It works as an iron supplement to treat or prevent iron deficiency in the blood.

However, there are a number of limitations to using ferrous fumarate. Those with liver or kidney problems, as well as those with porphyria, should avoid ferrous fumarate. Constipation, black stool, stomach ache, abdominal bloating, flatulence, and abdominal pain are all negative effects of ferrous fumarate consumption.

Over the forecast period, North America is expected to have a dominating position in the worldwide ferrous fumarate market.

 

Ferrous Fumarate Market
Ferrous Fumarate Market


Market Outlook

This is due in large part to the presence of major pharmaceutical businesses in the area. Because of the rising frequency of anaemia in the region, Asia Pacific is predicted to develop at the quickest rate in the market. Furthermore, considerable pharmaceutical industry expansion in economies like India and China is likely to add to the worldwide market size. To increase their market share, key market players can concentrate on growing their operations in emerging regions such as Africa and the Middle East. The regions with the highest frequency of anaemia are Africa, Southeast Asia, and the Eastern Mediterranean.

Key Players

Vifom Pharma, Ironwood Pharmaceuticals, Galenica group, Allied Biochem Pvt. Ltd., Lonye Technology Limited, Shreeji Industries, and Henan Sinotech Import & Export Corporation are some of the companies that operate in the global ferrous fumarate market.

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