Press release
Clinical Laboratory Services Market Poised to Achieve Significant Growth by 2024
Clinical Laboratory Services Market, Clinical Laboratory Services Market Study, Clinical Laboratory Services Market Size, Clinical
Clinical Laboratory Services Market will exceed USD 342 billion by 2024. Stand-alone laboratories segment held USD 83.3 million revenue in 2017, due to rising infectious diseases and growing initiatives by prominent industry players to set labs. In the U.S. as per CDC data in 2015 nearly 16.8 million people visited physician offices for infectious as well as parasitic diseases thus, contributing to segmental growth.
This report focuses on the top Manufacturers and players in global market are given bellow:-
Abbott Laboratories, Arup Laboratories, Charles River Laboratories, Fresenius Medical Care (Spectra Laboratories), Fullerton Health, Genoptix Medical Laboratory, Laboratory Corporation of America Holdings (Labcorp), Neogenomics Laboratories (Clarient), Opko Health (Bioreference Laboratories), Qiagen, Quest Diagnostics, Sanofi Genzyme, Siemens, Sonic Healthcare, and Synlab (Labco)
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Growing R&D investments for introducing innovative solutions that includes accuracy of analysis, real-time results, automation throughput, outcome assessment of laboratory tests will drive clinical laboratory services market growth during the forecast timeframe.
Escalating prevalence of target diseases and growing initiatives by organizations to control these target diseases should impact positively on clinical laboratory services industry growth. According to the National Center for Biotechnology Information (NCBI) around 43.9% U.S. adult population will have cardiovascular disease by 2030. This should offer immense business growth opportunities over the forecast period.
Clinical Laboratory Services Market Size By Test Type (Human & Tumor Genetics, Clinical Chemistry, {Routine Chemistry Testing, Specialized Chemistry Testing, Therapeutic Drug Monitoring (TDM) Testing, Endocrinology Chemistry Testing, Other Clinical Chemistry Testing} Medical Microbiology & Cytology, Other Esoteric Test)
By Service Provider (Hospital-Based Laboratories, Stand-Alone Laboratories, Clinic-Based Laboratories)
Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia)
Application Potential, Competitive Market Share & Forecast, 2018 - 2024
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U.S. clinical laboratory services market is anticipated to grow at 6.7% over the coming years. Escalating prevalence of cardiovascular disease and diabetes coupled with presence of major industry players in the country will upsurge the revenue size. As per CDC National Diabetes Statistics report around 30.3 million individuals of different age groups had diabetes in 2015; this accounts for nearly 9.4% of the U.S. population.
India clinical laboratory services market held USD 7.2 million in 2017 as a result of rising awareness among individuals thus surging number of early disease diagnosis. Availability of advanced testing solutions should further boost industry growth.
Prominent business players are focusing on strategic acquisition and partnerships. Introduction of innovative solutions in clinical laboratory services should favor industry growth over the forecast period. Companies existing in industry are emphasizing on acquisition and collaborations to upsurge their revenue share in the clinical laboratory services market. For instance, in June 2018, Neogenomics Laboratories collaborated with Pharmaceutical Product Development to provide fully integrated molecular testing solutions to pharmaceutical and biotechnological clients. This collaboration will allow company to meet increasing worldwide client requirements.
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