Clinical Laboratory Services Market By Regional Trend & Growth Forecast 2019-2025
The Latin America breast pump market accounted for more than 12% revenue share in 2018 and is assessed to witness a significant CAGR by 2025. This is due to the development in healthcare facilities and infrastructure and growing public expenditure on the treatment of viral, bacterial and fungal infections in the region. Also, the growing prevalence of cancer in the Latin America region is expected to drive market growth over the forthcoming years. Furthermore, increasing intervention of government and regulatory bodies to encourage proper allocation and training of human resources available for clinical providing services should influence regional growth positively during the forecast timeframe.
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The human & tumor genetics accounted for a considerable revenue share of around 21% in 2018 and will show a significant growth trend during the analysis timeframe. The increasing prevalence of rare genetic disorders should drive human and tumor genetics segment growth over the forecast timeframe. Also, regulatory bodies enforce certain favorable regulations on developing new drugs and tests for treating genetic disorders. Moreover, there are around 7,000 different rare genetic disorders detected that will positively impact business growth.
Clinical Laboratory Services Market will exceed USD 350 million by 2025. The rising emphasis on preventive medicine will drive the market growth. The increasing prevalence of target diseases including liver, diabetes, cardiovascular, kidney disorders, and blood disorders will be the primary factor for driving the clinical laboratory services market growth. Individuals with one or more disease conditions are usually at more risk and require early disease detection and management. Moreover, the rising initiatives by various government organizations to control target diseases and reduce the disease burden would positively impact on clinical laboratory services industry growth.
The hospital-based laboratories segment is anticipated to hold a significant revenue share in 2018 and is projected to witness the growth of 5.8% over the forthcoming years. The increasing prevalence of chronic disorders and infections globally should surge hospital-based laboratories segment growth. Patients having surgical complications, infections and health acquired infections should upsurge segmental growth. Moreover, a high preference for hospital-based laboratories by the geriatric population will drive segmental growth. Moreover, favorable reimbursement policies available for hospital-based laboratory tests should have a positive impact on segment growth.
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Some of the notable business players operating in the clinical laboratory services market include Qiagen, Genoptix Medical Laboratory, Arup Laboratories, Fresenius Medical Care, Opko Health, Charles River Laboratories, Abbott, Fullerton Health, Quest Diagnostics, Siemens, Neogenomics Laboratories, Genzyme, Sonic Healthcare and Laboratory Corporation of America Holdings. The market players are adopting several strategies such as partnerships, acquisitions to capitalize on market opportunities.
Table of content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Clinical Laboratory Services Industry Insights
Chapter 4. Clinical Laboratory Services Market, By Test Type
Chapter 5. Clinical Laboratory Services Market, By Service Provider
Chapter 6. Clinical Laboratory Services Market, By Region
Chapter 7. Company Profiles
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Global Clinical Laboratory Services Market Insights, Forecast to 2025
The global Clinical Laboratory Services market is valued at 112400 million US$ in 2018 and will reach 167700 million US$ by the end of 2025, growing at a CAGR of 5.1% during 2019-2025. The objectives of this study are to define, segment, and project the size of the Clinical Laboratory Services market based on company, product type, end user and key regions.
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