The laboratory developed test (LDT) market is a rapidly growing industry that is driven by the increasing demand for advanced diagnostic testing. LDTs are diagnostic tests that are developed and performed by a single laboratory, and are typically used to detect genetic and rare diseases.
One of the major drivers of the LDT market is the increasing demand for personalized medicine. With the rise of genetic testing, LDTs can be used to identify specific genetic mutations that may be associated with a particular disease. This allows for more accurate and personalized treatment, which can improve patient outcomes. Additionally, LDTs can also be used to detect rare diseases, which are often overlooked by traditional diagnostic tests.
Worldwide revenue generated by the laboratory developed test market was US$ 7.3 Bn at the end of 2021, with the market estimated to surge ahead at a CAGR of 6.4% to reach a market valuation of US$ 14.4 Bn by the end of 2032.
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The growth of this market is driven by a number of factors, including the increasing use of personalized medicine, advancements in technology, and a growing need for more accurate and specific diagnostic tests.
One of the major drivers of the LDT market is the increasing use of personalized medicine, which relies on genetic and molecular information to tailor treatment to individual patients. LDTs can be used to develop tests that are tailored to specific patient populations, such as genetic tests for rare diseases, or tests that detect specific biomarkers for cancer or other conditions.
Companies
- Roche
- Adaptive Biotechnologies Corporation
- Quest Diagnostics
- Illumina
- Qiagen
- Eurofins
- Guardant Health
- Biotheranostics
- Rosetta Genomics
- Biodesix
- 23andme, Inc.
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Another major driver of the LDT market is advancements in technology, such as next-generation sequencing, that have made it easier and more cost-effective to develop and perform LDTs. Additionally, the increasing use of electronic health records (EHRs) has made it possible for LDTs to be integrated into clinical decision-making, helping to improve patient outcomes.
However, there are some challenges that need to be overcome in order to fully realize the potential of the LDT market. One of the main challenges is the lack of regulatory oversight, which can make it difficult for patients and physicians to know if an LDT is safe and reliable. Additionally, there are still many technical and scientific obstacles that need to be addressed in order to make LDTs widely available and affordable to patients.
Competitive Landscape
Consolidation activities such as product approval and launches, acquisitions, collaborations, and partnerships are actively looked upon in this market. Such consolidations will help market players expand their product portfolios and increase their market penetration, thereby driving their revenue share in the market.
- In September 2021, QIAGEN N.V. received a contract from the United States government to grow its production capacity for consumables for its NeuMoDx 96 and 288 integrated PCR testing systems.
- In September 2021, Illumina, Inc. announced going into a partnership with 7 new genomics corporations to build innovative genomic startups in its next global funding cycle application.
- Roche launched a high-throughput SARS-CoV-2 antigen test for the diagnosis of SARS-CoV-2 infections, in December 2020.
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Key Segments Covered in Laboratory Developed Test Industry Research
Laboratory Developed Test Market by Test Type:
- Clinical Biochemistry
- Critical Care
- Haematology
- Immunology
- Microbiology
- Molecular Diagnostics
- Others
Laboratory Developed Test Market by Application:
- Oncology
- Genetics
- Infectious Diseases
- Autoimmune Disorders
- Neurology
Laboratory Developed Test Market by End User:
- Hospital Laboratories
- Specialty Diagnostics Centers
- Clinical Research Organizations
- Research Institutes
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