Medical Laboratories Market Key Drivers & On-going Trends 2014 - 2020
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
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.
Request For Discount-
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.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street,
NY - 12207
USA - Canada Toll Free 866-552-3453
This release was published on openPR.
Permanent link to this press release:
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 Key Drivers & On-going Trends 2014 - 2020 here
News-ID: 1060619 • Views: 160
More Releases from Transparency Market Research
Laboratory Mixer Market Prospects & Upcoming Trends and Opportunities Upto 2030
Global Laboratory Mixer Market: Overview A laboratory mixer is an assembly of different systems for vigorously agitating and mixing different samples. A laboratory mixer helps to get a suitable mixture a specific application Read Report Overview - https://www.transparencymarketresearch.com/laboratory-mixer-market.html In any laboratory, mixer is an important to have equipment, which assists a technician to perform a specific function. Usage of laboratory mixer has some benefits in the lab. The equipment helps in thorough mixing,
Counterfeit Drug Detection Device Market Expected to Witness the Highest Growth …
Global Counterfeit Drug Detection Device Market: Snapshot The global counterfeit drug detection device market is all set to show upward graph of revenues during the forecast period of 2019 to 2027. Key reason supporting this growth is the increased use of counterfeit drug detection device from all across the world. Counterfeit drug detection device is gaining traction owing to its ability to offer superior quality services. Read Report Overview - https://www.transparencymarketresearch.com/counterfeit-drug-detection-device-market.html An upcoming
Angio Suites Market 2030: Healthcare Industry Demand, Growth, Analysis & Forecas …
Angio Suites Market: Introduction Angio suites can be defined as multipurpose examination rooms where a range of angio/interventional procedures are performed. The major types of procedures performed include vertebroplasty, myelograms, intravascular therapies, therapeutic stenting, and obstruction bypasses. Read Report Overview - https://www.transparencymarketresearch.com/angio-suites-market.html Angio suites help offer significant imaging capabilities along with enhanced spatial resolution. Administrations offered in angio suites include stomach aortic aneurysm, aortic analyzation, complex fringe vein ailment, and carotid conduit sickness. These
Single-use Negative Pressure Wound Therapy Devices Market Worldwide Major Trend …
Single-use Negative Pressure Wound Therapy Device: Introduction Negative pressure wound therapy (NPWT) devices are class II devices (FDA) that consist of drainage tubing, vacuum pump, and wound dressing set, and need electricity to maintain their use Negative pressure wound therapy (NPWT) is indicated for the treatment of wounds. The application of suction promotes wound healing and removes fluids such as bodily fluids, wound exudate, irrigation fluids, or infectious materials. Read Report Overview -
More Releases for Medical
Affordable Medical Cover Plans
Taking great care of health is important, but it does not assure a healthy life. Even after taking all the precautions, people can still get unwell due to various reasons. Unfortunately, medical treatment is not always affordable for everyone. Losing loved ones due to lack of money is the worst nightmare for any person. Luckily, now you can cover your whole family for medical treatment by purchasing affordable medical covers
Medical Power Market Medical Power Market
This report studies Medical Power in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. Request for discount @ https://www.researchtrades.com/discount/1445183 This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering Astrodyne TDI (US) CUI Inc. (US) Delta Electronic, Inc (TW) Excelsys
Global Medical Aesthetics Market
The Global Medical Aesthetics Market is expected to reach USD 26.53 billion by 2024 from USD 10.12 billion in 2016, at a CAGR of 12.8% in the forecast period 2017 to 2024. “Global Medical Aesthetics Market”, By Product Type (Aesthetic Laser Devices, Energy Devices, Skin Tightening & Body Contouring Devices, Aesthetic Implants, Facial Aesthetic Devices), Applications (Anti-Aging & Wrinkles, Facial & Skin Rejuvenation, Vascular Lesions, Body Shaping & Cellulite, Breast
Medical Ventilators – Medical Devices Pipeline Assessment, 2017
ReportBazzar has released its latest research-based report entitled ‘Medical Ventilators’ market. This report provides a holistic approach to the market growth with a detailed and precise analysis of the overall competitive scenario of the Medical Ventilators market. The report also provides a detailed analysis of key trends and latest technologies, playing a prominent role in the Medical Ventilators market growth. It takes into account aspects such as drivers, restraints, challenges, and
The Medibmls Medical Encyclopedia contains public health information for patients and others about medical laboratory tests and general healthcare. This medical encyclopedia is developed to provide patients and others with background information about laboratory tests and health as part of the healthcare sector. Please visit us at: Medical Encyclopedia-Medibmls - https://medibmls.org/ Diseases - https://medibmls.org/diseases/ Laboratory Tests - https://medibmls.org/laboratory-tests/ Medibmls is a medical encyclopedia containing health information for patients and others about clinical laboratory tests and
Medical Electrodes Market
Medical electrodes are devices used to transfer energy of ionic currents into electrical current in the body. The currents passed into the body is amplified and has proved to be useful in diagnosing various diseases. Medical electrodes are noninvasive and comprises a metal, electrode conducting plate and lead. Medical electrodes progress with quantification of internal ionic currents results in diagnosis of nervous, cardiac, ocular and muscular disorders. The electrode works