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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Urinary Catheters Market Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

 

Urinary Catheters Market
Urinary Catheters Market

COVID-19 has caused significant disruptions in businesses and economic activities around the world, and it is expected to have a short-term negative impact on the urinary catheters market. Urinary catheters used in surgical applications are expected to be impacted to some extent as governments and authorities work to ensure the availability of resources for COVID-19 patients. Various governments have issued guidelines on elective surgeries in an effort to reduce the strain on the healthcare system, reduce disease transmission, and conserve personal protective equipment (PPE). The US CMS announced on March 18, 2020, that all elective surgeries, as well as non-essential medical, surgical, and dental procedures, would be postponed.

Other areas impacted include the supply of hospital products (including ICUs, emergency rooms, neurological care centres, and trauma patients) as a result of lockdowns and mobility restrictions in various countries around the world. However, once restrictions on elective surgeries and movement are lifted, businesses are likely to revive and resume normalcy. The COVID-19 scenario is expected to have a significant impact on the urinary catheter market. Because urinary catheters are used in some critically ill COVID-19 patients, the demand for urinary catheters is expected to rise as the number of cases continues to rise. As a result, the demand for urinary catheters is expected to rise.

The rising prevalence of urinary incontinence, the growing geriatric population, and technological advancements in catheter material are the primary factors driving the growth of the urinary catheter market.

Increased funding allows for more innovative product launches in the market. For example, Ingenion Medical Ltd received approximately GBP 100,000 in funding from Innovative UK in December 2020 to develop its product CymActive urinary catheter. It is a novel medical device intended for the treatment of urinary retention in male patients. Urinary incontinence is an underdiagnosed and underreported condition that is likely to worsen with age and disproportionately affects the elderly.

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