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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Nutritional supplements Market Report Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

Nutritional supplements Market

Nutritional supplements Market


In 2020, Asia Pacific dominated the nutritional supplement market. Asia Pacific is home to roughly 60% of the world's population. The rising prevalence of malnutrition among children, as well as obesity, underweight, and overweight issues among adults, are all driving the growth of nutritional supplements market. The Asia Pacific region's young population is increasingly involved in sports and athletic activities. Furthermore, the growing popularity of gyms and fitness centres is increasing demand for sports nutrition supplements in Asia Pacific countries. Furthermore, countries such as India, China, and the Philippines are becoming manufacturing hubs for nutritional supplements. Because of the easy availability of raw materials and cheap labour, key market players are investing heavily in the region for research activities and the establishment of manufacturing plants.The growing disease burden, rising prevalence of obesity and overweight, and sedentary lifestyle of the population are all encouraging consumers around the world to use nutritional supplements. Because the development of the immune system is heavily dependent on the stomach, dietary supplements are required for the development of a strong immune system. A strong immune system aids in disease prevention and recovery from any illness.

The sport supplement segment held a significant market share in the global nutritional supplement market based on product type, as key players are implementing strategies such as partnerships and collaborations to expand their presence in the sports supplements segment. For example, in March 2018, Fonterra, a dairy nutrition company, partnered with Foodspring, an active nutrition startup, by investing in its parent company, Goodminton AG. Fonterra has been able to enter the active nutrition consumer segment as a result of this collaboration.

Due to increasing consumer preference for nutritional supplements in the form of capsules, the capsule segment held a significant market share in the global nutritional supplements market. The capsule's exterior is made of gelatin or starch and contains active ingredients. Capsules allow for a more gradual release of active ingredients. The capsule is encapsulated in such a way that it dissolves over time rather than delivering the supplement all at once.

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