Due to the rising prevalence of chronic diseases, the United States clinical laboratory services market is likely to increase from US$ 93.0 billion in 2022 to US$ 125.6 billion by 2030, at a CAGR of 4.2% over the forecast period of 2023–2030.
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Clinical laboratory services are crucial to the delivery of patient care because they help with everything from early detection and prevention to diagnosis and treatment. Places that are offering the services include hospitals, clinics, private laboratories, and research organizations. The rise in chronic diseases, improvements in diagnostic technology, and rising desire for tailored medication are all predicted to have a positive impact on the industry.
The Centers for Disease Control and Prevention estimate that six out of ten Americans have at least one chronic illness, such as diabetes, cancer, heart disease, or a stroke. These and other chronic illnesses are the main contributors to healthcare costs and the major causes of death and disability in the United States. Chronic diseases are becoming more prevalent in the clinical laboratory services market, which is also being fueled by unhealthy lifestyle choices and environmental factors. Major risk factors for chronic diseases include poor diet, inactivity, and cigarette use.
The US has an aging population, and by 2050, there will be twice as many people over 65. Approximately 80% of persons over 65 have at least one chronic disease, and 68% have two or more, according to the Centers for Disease Control and Prevention (CDC). This emphasizes the demand for more clinical services in the US clinical laboratory services market to address chronic illnesses in the geriatric population.
Healthcare professionals can now offer individualized treatment programs that take a person’s genetic composition into account thanks to developments in genomics and genetic testing. Due to this, there is now a higher need for genetic testing services, which is likely to propel market expansion in the upcoming years. Oncology is one of the fields in customized medicine that is expanding rapidly. Research is looking into other fields where personalized medicine may use to treat and diagnose other diseases. Examples of personalized medicine include tumor marker testing for cancer diagnosis and tailored medicines recommended for the treatment of breast cancer. Additionally, indications for treating familial hypercholesterolemia and generalized myasthenia are recent examples of personalized medicine approvals.
Large biopharmaceuticals and top clinical research organizations (CROs) are increasingly using digital pathology to speed up the discovery, pre-clinical, and clinical trial phases of drug development. Digital pathology systems are particularly crucial for the detection and management of cancer. With the help of digital pathology, diagnoses may provide more accurately and quickly, which can result in earlier diagnoses and improved treatment outcomes. Additionally, it makes it possible to assess the effectiveness of brand-new medications and create companion diagnostics that may use to find individuals who will respond best to a certain course of treatment. The growth of artificial intelligence (AI) and machine learning (ML) technologies in the clinical laboratory services market is also due to the increasing adoption of digital pathology platforms.
By Test Type Segment
Due to the large number of clinical chemistry tests performed in the US, the rapid acceptance of new technologies, and the development of point-of-care testing techniques in the nation, the clinical chemistry testing sector had the largest market share in 2022, with revenues of US$ 31.1 Bn. POCT makes it possible to diagnose and treat patients quickly, which is crucial in emergency situations.
By Application Segment
The bioanalytical & lab chemistry segment value was US$ 55.0 billion in 2022 and is likely to grow to US$ 71.9 billion by 2030. In order to meet diagnostic demands, bioanalytical and lab chemistry laboratories employ a variety of methodologies and technological frameworks. Additionally, bioanalytical services are a crucial tool in drug research and development for figuring out the concentration of medicines and their metabolites.
However, the toxicology testing services segment is likely to expand at the highest CAGR of 5.2% over the forecast period.
By End-User Segment
In 2022, the hospital sector generated the highest revenue of US$ 40.8 billion. The segment is growing due to the hospitals’ expanding outreach initiatives and the rapid turnover of patients with serious and complex conditions.
Over the projected period, the government agencies segment is likely to increase at the highest CAGR of 5.0%. In order to satisfy the US’s robust demand for clinical laboratory services, the government is essential. Medicare and Medicaid spent around $7.5 billion and $4.5 billion on clinical laboratory services in 2021. Additionally, the National Institutes of Health will get $584 million from the government in 2020 for research and development in the field of clinical laboratory science.
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Companies like Qiagen, Bioreference Labs, Sonic Healthcare, SYNLAB, Opko Health, Abbott, Charles River Laboratories, Roche Laboratories, Almac Group, Siemens Healthcare Limited, Astrazeneca, Novartis Laboratories, Merck Inc., Pfizer Inc, Eli Lilly, and Eurofins hold about 25% of the market share in the fiercely competitive clinical laboratory services market.
Some strategies adopted by key players to remain in this competitive market are:
In March 2023, U.S. Senator Sherrod Brown (D-OH) presented the Saving Access to Laboratory Services Act (SALSA), a bipartisan bill. Updating Medicare’s payment system for clinical diagnostic laboratory services, this measure would guarantee that elderly citizens have access to the most cutting-edge screenings and medical procedures available.
In Jan 2023, a new strategic partnership between Helix, the top population genomics and viral surveillance company in the country, and Mayo Clinic Laboratories, a renowned reference lab, will give biopharma customers access to a comprehensive joint laboratory offering for research and development initiatives throughout the drug development lifecycle.
In Dec 2022, by purchasing an undisclosed amount of Medicus Laboratory Information Systems (Medicus) from Diagnostic Systems Consulting, a maker of laboratory information systems with headquarters in Weston, Florida, CompuGroup Medical announced that it is expanding its footprint in the United States.
In July 2022, at the Clinical Lab Expo put on by the American Association for Clinical Chemistry (AACC), Abbott highlighted diagnostic breakthroughs to improve patient care. Leading clinical laboratories are represented by the American Clinical Laboratory, a national trade association, and provide patients and medical professionals with vital diagnostic information.
By Test Type
- Clinical Chemistry Testing
- Endocrinology Chemistry Testing
- Routine Chemistry Testing
- Therapeutic Drug Monitoring (TDM) Testing
- Specialized Chemistry Testing
- Other Clinical Chemistry Testing
- Microbiology Testing
- Infectious Disease Testing
- Transplant Diagnostic Testing
- Other Microbiology Testing
- Hematology Testing
- Immunology Testing
- Cytology Testing
- Genetic Testing
- Drug Abuse Testing
- Bioanalytical & Lab Chemistry Services
- Toxicology Testing Services
- Cell & Gene Therapy Related Services
- Preclinical & Clinical Trial Related Services
- Drug Discovery & Development Related Services
By End User
- Government Agencies
- Clinical Labs
- Pharmaceutical Companies
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