The laboratory developed test (LDT) market refers to the market for diagnostic tests that are developed and performed by individual laboratory facilities rather than by commercial diagnostic companies. LDTs are a rapidly growing segment of the diagnostic testing market, driven by the increasing demand for personalized medicine and the development of new technologies for diagnosing complex diseases.
One of the key factors driving the growth of the LDT market is the increasing demand for personalized medicine. Personalized medicine is an approach to healthcare that focuses on tailoring treatments to the specific needs and characteristics of individual patients. LDTs can play an important role in this approach by providing information about a patient’s unique genetic or molecular profile, which can be used to guide treatment decisions.
Request For Free Sample Report of “Laboratory Developed Tests Market”@ https://www.persistencemarketresearch.com/samples/3430
Owing to the high prevalence of chronic conditions & genetic disorders, rise in the incidence of infectious & autoimmune diseases, and increasing awareness among the population for a healthy life, the global laboratory developed test market is expanding and is currently valued of US$ 7.7 Bn.
Government and non-government organizations across the world are focused on spreading awareness about living a healthy lifestyle to reduce the prevalence of chronic disorders and prevent obesity & diabetes due to unhealthy diets. This is driving the development and adoption rate of laboratory developed tests, providing significant growth opportunities to market players.
Key Takeaways from Market Study
- By test type, clinical biochemistry tests held the highest market share of 33.5% by value in 2021.
- Oncology accounted for the highest market share under application at 41.2% in 2021.
- By end user, hospital laboratories are preferred by patients, and the segment held a market share of around 48.7% in 2021.
- Around 35.7% of the global market share was accounted for by North America in 2021.
“Better prospects for enterprises to enter the market as a result of more CLIA product approvals and collaborations will benefit the laboratory developed test industry over the coming years,” says an analyst of Persistence Market Research.
Buy Full Report Now @ https://www.persistencemarketresearch.com/checkout/3430
Acquisitions, product launches, and collaborations are among some of the approaches used by leading developers and manufacturers of laboratory developed tests to enhance their presence in the global market, resulting in increased customer bandwidth for manufacturers.
- In May 2022, Epic Sciences, Inc. announced the launch of DefineMBC™, a novel comprehensive blood-based test for distinguishing metastatic breast cancer. This test will provide both cell-based and cell-free analysis from a single blood draw to provide comprehensive profiling in the absence of a tissue biopsy result.
- In January 2022, 23andMe announced FDA clearance for a direct-to-consumer genetic test on a hereditary prostate cancer marker.
- Roche launched the AVENIO Edge System, in December 2021, which simplifies and automates sample preparation for next-generation sequencing, reducing human error and advancing precision medicine.
- Adaptive Biotechnologies opened a new corporate headquarters in Seattle’s South Lake Union in September 2021.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the laboratory developed test market in its latest study, presenting a historical demand assessment of 2017-2021 and projections for 2022 – 2032.
The research study is based on the test type (clinical biochemistry, microbiology, critical care, immunology, molecular diagnostics, haematology, and others), application (oncology, infectious diseases, genetics, auto-immune disorders, and neurology), and end user (hospitals laboratory, clinical research organizations, specialty diagnostic centers, academic institutes, and others), across seven key regions of the world.
Request Customization @ https://www.persistencemarketresearch.com/request-customization/3430
Key Questions Answered in This Report.
- What are the Roadblocks for Laboratory Developed Tests Market Suppliers?
- What are the Key Opportunities for Laboratory Developed Tests Market Manufacturers?
- How is Focus on Safety Influencing Laboratory Developed Tests Market Demand?
- What is the Regulatory Impact on Global Sales of Laboratory Developed Tests Market?
- Which Region Offers the Largest Opportunity for Sales of Laboratory Developed Tests Market?
- Where Does the U.S. Stand in the Market for Laboratory Developed Tests Market?
- What Is the Outlook for Laboratory Developed Tests Market Manufacturers in China?
- Why is Germany a Lucrative Market for Laboratory Developed Tests Market Manufacturers?
- Why Will Belgium Outpace Other European Markets for Laboratory Developed Tests Market?
- Why is There High Demand for Tires in Laboratory Developed Tests Market?
- Why are Sales of Laboratory Developed Tests Market Surging?
For More Premium Insights, Check out the Link:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Persistence Market Research
Persistence Market Research
1-2-1 Kinshi Arca Central Building 14/F Tokyo, 130-0013 Japan
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – email@example.com