Clinical Laboratory Tests Market to face rise in demand by the end of year 2023

Clinical laboratory tests is a group of medical tests carried out in a laboratory equipped with all aspects of laboratory medicine and instruments. These tests are performed on clinical specimen to obtain information about the health of patients, and diagnosis & treatment of their respective condition.

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The global clinical laboratory tests market is driven by high prevalence of diseases, such as cardiovascular and neurological diseases, rise in geriatric population, development of technologically advanced products, such as biochips and microarrays, and surge in healthcare expenditure. Moreover, preference for preventive medicine, shorter hospital stay, and high demand for integrated analytical systems fuel the market growth. However, control of the FDA over laboratory-based tests delays the launch of new products and lack of skilled professionals in clinics based in emerging economies hamper this growth. Moreover, introduction and implementation of database management tools and solutions with reduced errors, increased efficiency, and satisfactory services are expected to present opportunities for the market growth in the near future.

The clinical laboratory tests market is segmented on the basis of product, test, department, end user, and region. On the basis of product, it is divided into complete blood count, HGB/HCT testing, basic metabolic panel testing, BUN creatinine testing, electrolytes testing, HbA1c testing, comprehensive metabolic panel testing, liver panel testing, renal panel testing, and lipid panel testing. Liver panel testing is further subsegmented into hepatitis, bile duct obstruction, liver cirrhosis, liver cancer, bone disease, autoimmune disorders, and others. On the basis of test, market is bifurcated into routine and specialty tests. Based on department, it is classified into parasitology, virology, hematology, toxicology, immunology/serology, histopathology, urinalysis, and others (microbiology, genetics, cytopathology, cytogenetics, and others). Based on service provider, the market is categorized into hospital-based laboratories, stand-alone laboratories, and clinic-based laboratories. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The key players operating in this market include Abbott Laboratories, Inc., Quest Diagnostics, Inc., Sonic Healthcare Ltd., Siemens Healthineers, OPKO Health, Inc., Laboratory Corporation of America, LLC, Charles River Laboratories International, Inc., NeoGenomics Laboratories Inc., Genoptix, Inc., and Bioscientia Institut fr Medizinische Diagnostik GmbH.

Key Benefits

• Market analysis for the global clinical laboratory test market is provided with region-specific assessments and competition analysis on the global and regional scale.
• The report provides an extensive information about the current and upcoming trends in the market through 20162023, which help to determine the potential growth opportunities.
• Key drivers and restraints impacting the market are listed in the report.
• Identification of factors instrumental in changing the market scenario, prospective opportunities, and key companies that can influence this market is presented.
• A wide-ranging knowledge and insights about major players in this industry and the key strategies adopted by them to sustain and grow are analyzed.

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