North America Clinical Laboratory Test Market 2018 by AURORA Diagnostic, LifeLabs Medical Laboratories, Quest Diagnostics, etc. by 2022

Complete Study of North America Clinical Laboratory Test Market Research Report is added on MarketResearchFuture.com with Latest Advancement. Detail analysis on possible segments and sub segments of the North America Clinical Laboratory Test Market. And Forecast till 2022

Market Scenario:

Clinical laboratory testing has emerged as the most growing segment of healthcare over the past few years. Clinical laboratory testing includes all routine check-ups and other pathology tests for the diagnosis of various diseases ranging from CBC and other routine blood test, anatomical pathological testing, molecular, immunological, drug testing and other tests for disease diagnosis and treatment.

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According to a recent study report published by the Market Research Future analysts, the North America Clinical Laboratory Test Market is growing at a steady pace; where the growth is mainly due to increasing prevalence of chronic diseases, increased patient population, increase in volume of in-vitro diagnostic tests, current reimbursement scenario, and increasing patient awareness about the clinical test.

Key Vendors:

AURORA Diagnostic (USA), Laboratory Corporation of America (US), LifeLabs Medical Laboratories (Canada), and Quest Diagnostics (US).

Global Clinical Laboratory Test Market - Competitive Landscape

Quest diagnostics and Laboratory Corporation of America Holdings are the two biggest companies of the North America clinical laboratory testing market. Certainly, both the companies offer a wide range of diagnostic testing services, right from routine CBC testing to prenatal tests, and further to highly sensitive cancer and genetics tests.

Globally, Quest diagnostics is the largest independent research and testing lab, and commands around 17-18% share of the total market. LabCorp follows Quest and accounting for around 10-12% market share of the domestic market, but is growing at a faster pace than its main rival.

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In addition to the major players, there are few small scale companies such as Spectra (U.S.), Renalab Inc. (U.S.), Berkeley Heart Lab (U.S.), and others together contribute significant value in the total market.

Merger & acquisitions with other companies and other small players was the key strategy adopted by the major players.

Regional Analysis:

US accounts for the maximum market share of North America Clinical Laboratory testing market and is expected to grow at a CAGR of 5.8% during the forecasted period. Maximum number of laboratories and clinical testing procedures are the major reason for the highest market growth of this region. Canada, is expected to be the fastest growing region with the CAGR of 6.3% during the forecasted period due to increasing cases of chronic disease and also because of new companies providing laboratory services entering Canadian market.

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This release was published on openPR.