A research study titled, “Clinical Laboratory Services Market by
Test Type and Service Provider- Global Industry Analysis and Forecast to 2025”
published by Crystal Market Research, states that the clinical laboratory
services market is projected to be around $348 billion by 2025.
Clinical
laboratories are an inseparable part of the healthcare industry.
Theselaboratories are used to performlarge range of diagnostic tests ranging
from simple blood tests to highly complex DNA sequencing. Clinical laboratories
play a vital role in providing information and services which maximize
healthcare delivery system by providing diagnostic and test results.Besides
diagnostic services, lab testing may also be performed to evaluate drug
treatment,disease progression and to figure out individual therapy for
diseases. Clinical laboratory service market is continuously growing due to
high prevalence of diabetes, cancer and other disorders leading to increase in
number of patients requiring diagnostic services, further driving the global
market. Furthermore these services are cost effective and require minimum
invasive method for clinical decision making and diagnosis. Advancement in
technologies such as micro assays and biochips which can process large number
of samples at a time will further enhance growth of the global market.
Clinical
chemistry segment accounted for the largest share of the global market in
2016,owing to increase in demand for early detection of diseases like diabetes
and cancer for effective disease treatment and management. Medical microbiology
and cytology market is anticipated to witness fastest growth during forecast
period due to increase in pool of patients suffering from infectious diseases
requiring large number of diagnostic procedures. On the basis of service
provider, standalone laboratories market is poised to witness fastest growth
during the forecast period primarily due to wide range of diagnostic services
offered by these labs and ability to manage large test volume with quick
delivery of results.
U.S. dominated the global clinical laboratory services
market in 2016.This can be attributed to presence of large number of clinical
laboratories and high population suffering from various disorders requiring
diagnostic services.Emerging nations such as China and India will exhibit
favorable growth over the forecast period owing to large pool of patients and
increasing demand for early detection of diseases. Moreover, rapid development
and changes in healthcare infrastructure along with increase in disposable
income of people will further fuel the growth of the market.
Some of the key players operating in
the global clinical laboratory services market are LabCorp, Quest Diagnostics,
Sonic Healthcare, Healthscope Ltd., Spectra Laboratories, ARUP Laboratories,
Genoptix Medical Laboratory, Qiagen, Abbott Laboratories, Bio-Reference
Laboratories, Labco S.A andClarient Inc. Global players are focusing on
upgrading existing products to enhance accuracy and reliability of clinical
test results. For instance, in January 2017, Abbott Laboratories launched next
generation Alinity Ci-series diagnostic systemswith new immunoassays methods.
These methods are cost effective as well as provide unique solutions for labs
to achieve enhancedhealthcare performance.
Get complete access of the Report @ http://www.crystalmarketresearch.com/report/clinical-laboratory-services-market
Competitive Insights
Some of the major players
operating in the global clinical laboratory services market are Quest
Diagnostics, Inc., Bioscientia Healthcare, Bio-Reference Laboratories, Labco
S.A., Abbott Laboratories, Healthscope Ltd., Spectra Laboratories, Labcorp,
Sonic Healthcare Limited, Siemens Healthcare, Charles River Laboratories, ARUP
Laboratories, Genoptix Medical Laboratory, Qiagen, and Clarient Inc. Majority
of players are focusing on commercializing new products for meeting unmet
testing needs. For Instance, in May 2017, Siemens Healthcare entered into
strategic partnership with the U.S. based, Imricor Medical systems, to design
improved procedures for MRI scans of the heart.
Market Opportunities
The key opportunity in the
clinical laboratory services market lies in focusing on developing new products
and systems which provide accurate results and which are able to process large
number of samples on time. With major players getting into strategic collaborations
to develop advanced procedures and products, the market will witness
significant growth over the forecast period.
Clinical Laboratory Services
Market Segmentation
By Test Type:
- Human
and Tumor Genetics
- Clinical
Chemistry
- Medical
Microbiology and Cytology
- Other
Esoteric Tests
By Service Provider:
- Stand-alone
Laboratories
- Hospital-based
Laboratories
- Clinic-based
Laboratories
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reports across a broad range of industries including healthcare, chemicals
& materials, technology, automotive, and energy.
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