Laboratory-Developed Testing Market Expected to Deliver Dynamic Progression until 2021

The global market for laboratory-developed tests reached nearly $9.7 billion in 2015. This market is expected to increase from nearly $11.0 billion in 2016 to $14.9 billion in 2021 at a compound annual growth rate (CAGR) of 6.3% for 2016-2021.

Report Scope:

This report will focus on companies that rely on laboratory-developed testing for at least 10% of their revenue. This is meant to avoid focusing on companies and laboratories that occasionally offer laboratory-developed tests to deal with unique patient needs. This report will also focus on the suppliers of the analyte-specific reagents used within these laboratory-developed tests, as their contract manufacturing is key to the successful development of these tests. While various technologies will be highlighted with relation to their use in laboratory-developed testing, we will not explore the markets for these different technologies in depth.

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Report Includes:

- An overview of the global market for laboratory-developed testing.
- Analyses of global market trends, with data from 2014, 2015 and 2016, and projections of CAGRs through 2021.
- Coverage of different types of tests, including esoteric, public health, anatomic technology, genomic testing, mass spectrophotometry, and other new technologies.
- Information on the industry's structure, with focuses on reagent manufacturers, reference laboratrories, academic medical centers, and trends in pricing and performance.
- Relevant patent analysis, including key patents, new patents, and pending patents.
- Analysis of the market's dynamics, specifically growth drivers, restraints, and opportunities.
- Profiles of major players in the industry.

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Reasons for Doing This Study

Laboratory discoveries have long been a source of clinical diagnostics products, and these discoveries have regularly developed into Food and Drug Administration-regulated in vitro diagnostics. This transition involves a number of preclinical and clinical testing steps to validate both the accuracy of the test and the clinical relevance of the test prior to FDA approval and product marketing. The goal is to make sure such a product is safe and effective for the treatment and diagnosis of disease, and the regulatory regime has been effective in protecting the public from clinical diagnostics that are not effective from being broadly marketed.

However, there are a number of laboratory discoveries useful for clinical diagnostics that are novel, unique or esoteric. These particular tests offer particular benefits for patients, but it may not be feasible to go through the FDA approval process for a variety of reasons, such as public health, low market demand or the introduction of a new technology. The clinical diagnostics market has long seen tests marketed by individual clinical laboratories, and a number of new technologies, along with the ability to market nationally, have made it possible for some companies to make the marketing of laboratorydeveloped tests an industry in and of itself.

Scope of Report

This report will focus on companies that rely on laboratory-developed testing for at least 10% of their revenue. This is meant to avoid focusing on companies and laboratories that occasionally offer laboratory-developed tests to deal with unique patient needs. This report will also focus on the suppliers of the analyte-specific reagents used within these laboratory-developed tests, as their contract manufacturing is key to the successful development of these tests. While various technologies will be highlighted with relation to their use in laboratory-developed testing, we will not explore the markets for these different technologies in depth.

Report Description:https://www.trendsmarketresearch.com/report/analysis/BCC/laboratory-developed-testing-market

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This release was published on openPR.