Clinical Laboratory Services Market Detailed Analysis of Current Industry Figures With Forecasts Growth by 2025 | Qiagen, Arup Laboratories, Genoptix Medical Laboratory, Fresenius Medical Care, Charles River Laboratories, Opko Health, Abbott, Quest DiagnoA concise assortment of data on 'Clinical Laboratory Services market' by Market Study Report, LLC, offers an exhaustive study targeting current market trends influencing the business across assorted regions. Significant details related to market size, market share, applications, and statistics are put together to convey an ensemble prediction of the industry. The research further focuses on comprehensive competitor's analysis in addition to highlighting growth strategies embraced by market leaders.
global clinical laboratory services market is projected to cross USD 350 million by the years 2025. Rising prevalence of diseases such as diabetes, cardiovascular ailments, liver disorders, kidney disorders and blood disorder, is the key growth factor of clinical laboratory services market. Inclination towards precautionary medication in tandem with rising government initiatives towards disease control is augmenting the market growth.
In addition, growing awareness is surging the demand for early disease detection, thereby, boosting the business outlook. Quite the reverse, lack of proper reimbursement policies and stringent regulations will restrain the growth of clinical laboratory services market over the predicted timeframe.
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Considering the geographical outlook, Latin America breast pump market registered 12% revenue share in 2018 and is anticipated to grow substantially in the coming years, which in turn is boosting clinical laboratory services market. Developing healthcare facilities in consort with growing public expenditure on treatment is fostering the regional growth.
In terms of service provider, hospital-based clinical laboratory services market held a major revenue share in 2018 and is projected to register a growth rate of 5.8% during the forecast period. The segmental growth can be attributed to the rising prevalence of chronic disorders coupled with favorable reimbursement policies offered to for hospital-based laboratory tests.
Based on the test type, human & tumor genetics segment accounted for a 21% revenue share in 2018 and is expected to witness sizeable growth over the projected timeline. The rising prevalence of rare genetic disorders coupled with the development of new drugs is stimulating the segmental growth.
Prominent players in clinical laboratory services market include Qiagen, Arup Laboratories, Genoptix Medical Laboratory, Fresenius Medical Care, Charles River Laboratories, Opko Health, Abbott, Quest Diagnostics, Fullerton Health, Neogenomics Laboratories, Siemens, Genzyme, Laboratory Corporation of America Holdings and Sonic Healthcare.
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Questions & Answers: Clinical laboratory services segment market
Q1: What are the key growth parameters of clinical laboratory services market?
A: Rising prevalence of diseases such as diabetes, cardiovascular ailments, liver disorders, kidney disorders, and blood disorder, is the key growth factor of clinical laboratory services market. Inclination towards precautionary medication in tandem with rising government initiatives towards disease control is augmenting the market growth. In addition, growing awareness is surging the demand for early disease detection, thereby, boosting the business outlook
Q2: Which factors are impeding the growth of clinical laboratory services market?
A: Lack of proper reimbursement policies and stringent regulations will restrain the growth of clinical laboratory services market over the predicted timeframe.
Q3: How will the human & tumor genetics test segment enhance the growth of clinical laboratory services market?
A: Human & tumor genetics segment accounted for a 21% revenue share in 2018 and is expected to show significant growth over the projected timeline. There are about 7,000 variations of rare genetic disorders. The rising prevalence of rare genetic disorders coupled with the development of new drugs is stimulating the segmental growth.
Q4: How is the competitive landscape of clinical laboratory services market defined?
A: Prominent players in clinical laboratory services market include Qiagen, Arup Laboratories, Genoptix Medical Laboratory, Fresenius Medical Care, Charles River Laboratories, Opko Health, Abbott, Quest Diagnostics, Fullerton Health, Neogenomics Laboratories, Siemens, Genzyme, Laboratory Corporation of America Holdings, and Sonic Healthcare.
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. Compamy Profile
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