openPR Logo
Press release

Medical Laboratories Market: Growing Awarenes , Strategy And Implementation

08-30-2016 04:17 PM CET | Health & Medicine

Press release from: Transparency Market Research

Medical Laboratories Market: Growing Awarenes , Strategy

Medical laboratories are defined as the independent, commercial enterprises that provide information to the healthcare professionals about the severity, onset and reason of patients' physical ailments. Medical laboratories include biological, bacteriological, histological, pathological and chemical analysis, urinalysis and dental and medical X-rays. About 70% of the health care decisions taken by doctors for treatment of diseases are based on the results of laboratory testing which makes the medical laboratories a vital part of the global healthcare system. Based on the testing services, medical laboratories market is segmented into four major categories that include:

• Routine medical testing
• Esoteric medical testing
• Anatomical pathology testing
• Diagnostic imaging testing

Get Free PDF Brochure for more Professional and Technical industry insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=345

Routine medical testing includes full body testing including eye checkup, blood test, diabetes testing and others. Esoteric testing includes tests for rare diseases or substances that are not performed in the routine medical testing. Anatomical pathology testing includes histological analysis and urinalysis. Diagnostic imaging testing includes radiation procedures such as X-ray, MRI, CT and ultrasound used for diagnosing the patient’s condition through imaging of internal organs.

Medical laboratories market is growing at a faster pace majorly due to increasing need for medical testing in aging population. Additionally, rising shift towards preventive care testing, compelling for technological improvements and innovations is also driving the medical laboratories market. While the demand for medical laboratories has increased many folds in recent years, this market is also posing a major challenge in the form of inadequate skilled workers. Moreover, according to the U.S. Bureau of Labor Statistics, employment in healthcare sector has decreased at an annualized rate of 0.6% over the last five years i.e. from 2009 to 2013.

Lack of availability of skilled professionals has forced operators to boost the salaries to attract new talent and retain the current employees. However, the rising use of standardization and automation in medical laboratories has helped mitigate the wage costs.

North America and Europe leads the medical laboratory market majorly due to scientific advances and aging U.S. population. According to the data of Centers for Disease Control and Prevention (CDC), in 2010 there were 40 million people aged 65 and above in the U.S. accounting for 13% of the total population and CDC projected that around 20% of the population of U.S. would be under this category by 2030.

Moreover, the healthcare reform legislation formed in 2010 in U.S. has benefited the growth of medical laboratories market. With the help of this reform, access to medical insurance has increased in the U.S. boosting the demand for medical laboratories and shrinking the out-of-budget costs for the general population in availing the medical testing services. However, the reimbursement cuts on few medical testing procedures is restraining the market in U.S. and Europe as the reimbursement policies are available only on few testing procedures such as in high-margin esoteric tests and genetic testing.

Asia-Pacific is growing rapidly in medical laboratories market majorly due to growing awareness about the medical testing services, government support to improve healthcare sector and introduction of new and improved testing procedures by major market players in this region. Asia-Pacific Federation for Clinical Biochemistry and Laboratory Medicines is the regional federation, which includes the members from seven countries of Asia-Pacific region. This federation is focused on spreading awareness and improving patient conditions with respect to the access medical laboratories and other testing procedures.
Some of the market players in the medical laboratories market include Quest Diagnostics, Inc., Laboratory Corporation of America Holdings, The British United Provident Association, Ltd., NHS Blood and Transplant, London Ambulance Services, Fargo Medical Laboratories, Labco Quality Diagnostics and LifeLabs Medical Laboratory Services.

About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact us:
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Medical Laboratories Market: Growing Awarenes , Strategy And Implementation here

News-ID: 359559 • Views:

More Releases from Transparency Market Research

Solid Tires Market Expected to Witness Impressive Growth at a 8.1% CAGR by 2031
Solid Tires Market Expected to Witness Impressive Growth at a 8.1% CAGR by 2031
The latest research study released by Transparency Market Research on "Solid Tires Market Forecast to 2023-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. Solid Tires market is estimated to attain a valuation of US$ 760.0 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 8.1% during
Automotive Cyber security Market Sales Estimated to Hit USD 10.5 Billion by 2031| Says Transparency Market Research
Automotive Cyber security Market Sales Estimated to Hit USD 10.5 Billion by 2031 …
The latest research study released by Transparency Market Research on "𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐂𝐲𝐛𝐞𝐫 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Automotive Cyber security industry, as
Ready-mix Concrete Market to Witness Exponential Growth with a CAGR of 6.1% from 2022 to 2031: TMR Study
Ready-mix Concrete Market to Witness Exponential Growth with a CAGR of 6.1% from …
The latest research study released by Transparency Market Research on "𝐑𝐞𝐚𝐝𝐲-𝐦𝐢𝐱 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Ready-mix Concrete industry, as well as
Mining Automation Market to Surge at 6.4% CAGR, Hitting US$ 7.3 Bn by 2031, According to TMR Study
Mining Automation Market to Surge at 6.4% CAGR, Hitting US$ 7.3 Bn by 2031, Acco …
The latest research study released by Transparency Market Research on "𝐌𝐢𝐧𝐢𝐧𝐠 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Mining Automation industry, as well as

All 5 Releases


More Releases for Medical

ECG Analysis System Market Outlook: 2020 The Year On A Positive Note | GE Medica …
DataIntelo report titled Global ECG Analysis System Market provides detailed information and overview about the key influential factors required to make well informed business decision. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of
Medical Tracheostomy Tube Market Overall Study Report 2020-2027 | Players Medtro …
The latest report added by Stratagem Market Insights gives deep insights into the drivers and restraints in the Worldwide Medical Tracheostomy Tube Market. The research report "Global Medical Tracheostomy Tube Market Size and Growth Forecast to 2027" provide a comprehensive take on the overall market. Analysts have carefully evaluated the milestones achieved by the global Medical Tracheostomy Tube market and the current trends that are likely to shape its future.
Global Embolization Particle Market 2019 - Sirtex Medical, Merit Medical, Cook M …
The global "Embolization Particle Market" report delivers a comprehensive and systematic framework of the Embolization Particle market at a global level that includes all the key aspects related to it. The data is collected from different sources allied to the global Embolization Particle market and the research team meticulously analyze the gathered data with the help of various analytical tools and present their opinion based on analysis and calculations. The
Medical Casting & Splinting Market 2019: Top Key players are 3M, DJO Global, BSN …
Medical Casting & Splinting Market 2019 Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025. This report also provides data on patterns, improvements, target business sectors, limits and advancements. Furthermore, this research report categorizes the market by companies, region, type and end-use industry. Get Sample Copy of this Report@ https://www.researchreportsworld.com/enquiry/request-sample/13718924 Global Medical Casting & Splinting market 2019 research provides a basic overview of
Global Embolization Particle Industry 2018 - Sirtex Medical, Merit Medical, Cook …
The Global Embolization Particle Industry 2018 Market Research Report is a professional and in-depth study on the current state of the Embolization Particle industry. Firstly, Embolization Particle Market report provides a basic overview of the Embolization Particle industry including definitions, classifications, applications and Embolization Particle industry chain structure. Global Embolization Particle Market analysis is provided for the international market including development history, Embolization Particle industry competitive landscape analysis, and major regions
Global Oxygen Pressure Regulator Market 2017 : Precision Medical, Smiths Medical …
Oxygen Pressure Regulator A market study based on the " Oxygen Pressure Regulator Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Oxygen Pressure Regulator Market 2017’. The research report analyses the historical as well as present performance of the worldwide Oxygen Pressure Regulator industry, and makes predictions on the future status of Oxygen Pressure Regulator market on the basis of this analysis. Get Free