Global Clinical Laboratory Services Market is Thriving with Rising Latest Trends by 2027 | Top Players- Laboratory Corporation of America Holding, Quest Diagnostics Incorporated, Spectra Laboratories , DaVita Inc., Eurofins Scientific

Global Clinical Laboratory Services Market By Specialty (Clinical Chemistry Testing, Hematology Testing, Microbiology Testing, Immunology Testing, Drugs of Abuse Testing, Cytology Testing, Genetic Testing), Provider (Hospital-Based Laboratories, Independent & Reference Laboratories, Nursing and Physician Office-Based Laboratories), Application (Bioanalytical & Lab Chemistry Services, Drug Development Related Services, Drug Discovery Related Services, Toxicology Testing Services, Cell & Gene Therapy Related Services, Preclinical & Clinical Trial Related Services, Other Clinical Laboratory Services), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Market Trends and Forecast to 2027

Clinical laboratory services market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.2% in the forecast period of 2020 to 2027 and expected to reach USD 217,941.33 million by 2027 from USD 134,692.52 million in 2019. Rising demand for early and accurate disease diagnosis is the factors for the market growth.

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Clinical laboratory services is playing significant role to enable doctors to make appropriate clinical and diagnostic decisions across various levels of health care services. Increasing demand for diagnostic tests is augmenting the market growth as they are used for clinical diagnoses tests.

The major players covered in the report are:-

Mayo Foundation for Medical Education and Research (MFMER), Laboratory Corporation of America Holding, Quest Diagnostics Incorporated, Spectra Laboratories (A Subsidiary of Fresenius Medical Care AG & Co. KGaA), DaVita Inc., Eurofins Scientific, UNILABS, SYNLAB International GmbH, MIRACA HOLDINGS Inc., Sonic Healthcare, ACM Global Laboratories, amedes Group, LifeLabs, Alere (A Subsidiary of Abbott), Charles River, Siemens Healthineers AG, BioReference Laboratories, Inc., NeoGenomics Laboratories, Inc., KingMed Diagnostics, Genomic Health, among other players domestic and global. Clinical laboratory services market share data is available for Global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many business expansion and developments are also initiated by the companies worldwide which are also accelerating the growth of global clinical laboratory services market.

For instance,

 In September 2019, Spectra Laboratories announced to construct a 200,000 square foot facility in Southaven's Stateline Business Park. More than 300 workers would check samples to assess the quality of the patients ' kidneys there. Quick distribution of test results by the agency, allowing patients to access the specific care they need in a timely manner. This expansion increases the productivity of the company which increases their market share.
In September 2018, DaVita Kidney Care, a subsidiary of DaVita Inc., a leading provider of kidney care services, announced the completion of a 150,000 square-foot facility of DaVita Laboratories, a clinical laboratory servicing the DaVita dialysis clinics and their clients. This expansion will increase the market value .of the company.

Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Clinical Laboratory Services through expanded model range.

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Rising demand of clinical laboratory services across the world is one of the prominent factors for increasing demand of clinical chemistry testing. For instance, yearly in the U.K., the usually citizen has 14 tests completed by a laboratory specialist. However in the U.S., laboratory testing is the only highest-volume medical activity and approximately 13,000 million tests are performed per year. Hence, this factor has led the patients to shift towards clinical chemistry testing because it offers a wide range of tests which are performed in the clinical laboratory testing. In the current scenario the technological advancements boost the patients' reach to laboratory testing, which is becoming gradually more precise and affordable. For instance, point-of-care testing (POCT) is regularly applied in hospitals and other healthcare practices, so the patients not need to travel to the clinical laboratories for testing. The increasing use of point-of-care testing has reduced demand tests which are conventionally executed at industry laboratories.

Rising demand of early and accurate disease diagnosis across the globe is one of the prominent factors for an upsurge demand of clinical laboratory services. For instance, in 2018, World Health Organization projected that projected that an estimated 1.8 million new cases and almost 861,000 deaths occur due to colorectal cancer (CRC). This factor has increased the number of clinical laboratories around the globe as Delays in accessing cancer care are very common in the late-stage presentation, especially in lower vulnerable populations and resource settings.

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Table of Contents-Snapshot
- Executive Summary
Chapter 1 Industry Overview
Chapter 2 Industry Competition by Manufacturers
Chapter 3 Industry Production Market Share by Regions
Chapter 4 Industry Consumption by Regions
Chapter 5 Industry Production, Revenue, Price Trend by Type
Chapter 6 Industry Analysis by Applications
Chapter 7 Company Profiles and Key Figures in Industry Business
Chapter 8 Industry Manufacturing Cost Analysis
Chapter 9 Marketing Channel, Distributors and Customers
Chapter 10 Market Dynamics
Chapter 11 Industry Forecast
Chapter 12 Research Findings and Conclusion
Chapter 13 Methodology and Data Source

Country Level Analysis, By Provider

North America dominates the clinical laboratory services market as the U.S. is leader in clinical laboratory services. In North America due to better advancement in products and services, this region is dominating the clinical laboratory services. North America accounts higher healthcare expenditure, especially in U.S. Asia-Pacific is growing with the highest CAGR due to increase in medical tourism as well as increase in population. Numbers of companies in emerging countries are increasing due to increase in demand for disease diagnosis in clinics, hospitals and other areas. Additionally, the increasing number of healthcare expenditure and increasing number of hospitals and clinical diagnostic laboratories in China and India upsurge demand of clinical laboratory services. The Asia-Pacific region is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increasing infectious diseases.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Huge Investment by laboratory for Clinical Laboratory Services and New Technology Penetration

Global clinical laboratory services market also provides you with detailed market analysis for every country growth in life science industry with clinical laboratory services demand impact of technological development in laboratory services and changes in regulatory scenarios with their support for the clinical laboratory services market. The data is available for historic period 2010 to 2018.

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