Clinical Laboratory Services Market Analysis By Type (Endocrinology, Biochemistry, Microbiology, Hematology), Applications and Key Players, Forecast To 2023
Global Clinical Laboratory Services Market is anticipated to reach USD 274 billion over the forecast period. healthcare expenditure rising globally due to influential factors such as the rising awareness about technologically advanced global clinical laboratory services.
The rising occurrence of infectious and chronic diseases such as kidney disorders, cardiovascular disorders, cancer, diabetes, liver, and blood disorders have increased the global demand for advanced diagnostics for the early disease detection.
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Clinical Laboratory Services Market Segmentation
The clinical laboratory services market segmented by application, type and region.
By application, the clinical laboratory services market has been segmented into
- reference laboratory
- independent laboratory
- hospital laboratory
Among these, the hospital laboratory segment is assessed to contribute higher to the market share due to the wide range of services provided by hospital laboratories. The rising prevalence of infectious diseases has increased the demand for early disease detection and anticipated to reach USD 185 billion over the forecast period. Additionally, independent laboratories are also anticipated to grow at a higher CAGR during the forecast period, due to the increase in initiatives by significant market players to introduce innovative solutions in disease detection technology.
By type, the market for clinical laboratory services has been segmented into
- genetic testing
Among these, the hematology segment is assessed to show the highest market growth over the forecast period, due to the high prevalence of blood cancer. Additionally, genetic testing and biochemistry segment are estimated to grow at a comparatively higher CAGR due to the high demand for chemistry testing due to the wide range of diagnosis offered through biochemistry testing.
Clinical Laboratory Services Market Regional Analysis
Based on the region, the global clinical laboratory services market has been segmented into Europe, Asia Pacific, the Middle East & Africa North America & Latin America
The North American region is the leading market region for clinical laboratory services globally and is estimated to sustain its dominant market share during the forecast period, due to the presence of key players that provide advanced test solutions, the rise in chronic diseases prone elderly population, along with the increasing prevalence of diseased associated with urban lifestyle.
Europe is the second largest regional market for clinical laboratory services, due to the rising infectious diseases and cardiovascular diseases led to consequent demand for clinical laboratory services.
Asia Pacific region is predicted to be a lucrative market for clinical laboratory services due to the , increasing investment towards healthcare sector and technological advancements in testing equipment to provide better facilities to consumers
Clinical Laboratory Services Market Key Players
- America Holdings (U.S.)
- Spectra Laboratories Inc (U.S.)
- Mayo Medical Laboratories (U.S.)
- Bio-Reference Laboratories (U.S.)
- Clinical Reference Laboratory (U.S.)
- ACM Medical Laboratory (U.S.)
- Lifelabs Medicals Laboratories (Canada)
- Cerba Healthcare Quest Diagnostics Incorporated (France)
- Amedes Holdings (Germany)
- Synlab International (Germany)
- Eurofins Scientific (Luxembourg)
- Unilabs (Switzerland)
- Sonic Healthcare (UK)
- Adicon Clinical Laboratory (China)
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Clinical Laboratory Services Market Drivers and Impact
- Rising Demand from Key Regions
- Growing Demand from Key Applications and Potential Industries
- Clinical Laboratory Services Market Challenges and Impact
- Key Factors Considered for A Diagnostic Information Services Provider
- Clinical Laboratory Services Market Trends
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