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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Narcotics Analgesics Market Size, Share, Outlook, and Opportunity Analysis, 2022-2028

 

Narcotics Analgesics Market
Narcotics Analgesics Market

The steady rise in narcotic analgesic sales is mostly due to the development of tolerance for non-narcotic analgesics. Narcotic analgesics are commonly utilised in palliative care services to treat patients suffering from neuropathic pain due to their better efficacy in pain control and early beginning of action.

Increased attention on palliative care services in third-world nations, as well as readily available reimbursements, are predicted to raise global narcotic analgesic market consumption. Furthermore, several government initiatives in low- and middle-income nations to provide palliative care for the effective treatment of patients suffering from excruciating cancer pain are driving up demand for narcotic analgesics as pain medication in these countries.

The demand for narcotic analgesics in the United States is being driven by reimbursements for post-operative care and palliative care. The reimbursement structure for wound care and wound management treatment is driving up narcotic analgesic drug consumption. Supportive insurance policies for chemotherapy cycles and post-operative care in developing nations are likely to drive global demand for narcotic analgesics.

 

Narcotic Analgesics Market: Drivers and Restraints

The expanding therapeutic application of narcotic analgesics is a significant development factor for the narcotic analgesics industry. Furthermore, the increased reliance on opioid (narcotic)-based medications to treat systemic and chronic pain associated with cancer and arthritis is expected to boost narcotic analgesic sales.

Standardizing the prescription and dispensing procedures for narcotic analgesic sales has been reshaping the entire supply scenario for narcotic analgesics, as part of recent government initiatives to combat narcotic painkiller addiction and abuse. The Centers for Medicare and Medicaid Services (CMS) in the United States is introducing a new policy for narcotic analgesic overuse, limiting prescription and dispensing of narcotic analgesics according to revised criteria.

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