Clinical Laboratory Services Market 2020 Size, COVID-19 Updates, Share, Trends and Regional Growth Analysis, Leading Players are DaVita, Eurofins Scientific, Sonic Healthcare, ACM Global Laboratories

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Market Analysis and Insights: Global Clinical Laboratory Services Market

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.

The major players covered in the Clinical Laboratory Services Market 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.

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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.

Clinical laboratory services demand has been increased with rising infectious diseases worldwide as compared to the past few years which will accelerate the market growth. Clinical diagnostic advancement methods for diagnoses of diseases in the clinical laboratory. For instance, Technological advancement in the clinical diagnostic methods have made diagnostic tests easier to use and more accurate as well as also led to more precise as well as more timely reports. Development in database management tools and wide acceptance of point-of-care (POC) testing solutions will also drive the market. Lack of skilled and certified professionals will hamper the Clinical laboratory services market as which further creates new opportunities for clinical laboratory services with growing adoption of digital pathology platforms. Such policies support Clinical Laboratory Services market growth in the forecast period to 2027.

This clinical laboratory services market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

Global Clinical Laboratory Services Market Scope and Market Size

Global clinical laboratory services market is segmented of the basis of specialty, provider and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Based on specialty, the market is segmented into clinical chemistry testing, microbiology testing, hematology testing, immunology testing, cytology testing, genetic testing and drugs of abuse testing. The clinical chemistry testing segment is dominating the market due to the growing cases of chronic diseases such as liver diseases, cardiovascular diseases and blood disorders which are increasing the demand to use clinical chemistry services. Additionally, the increasing demand of point of care testing solutions which is used for the fast diagnosis of the disease is expected to help the market to growth significantly.

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.

Based on provider, the market is segmented into independent & reference laboratories, hospital-based laboratories, nursing and physician office-based laboratories. The hospital-based laboratories segment is dominating the market due to increasing cases of injuries in the hospitals which leads to the high patient volumes and high test demand. Additionally, the rising inclination of retail clinics for disease monitoring is expected to positively impact in the demand of hospital-based laboratories. Competences of hospitals for acquiring novel technologies and hiring of trained professionals in the disease testing units has created an opportunity for the highest revenue generation. Additionally, the clinical labs are more crucial part of any hospital.

Based on application, the market is segmented into drug discovery related services, drug development related services, bioanalytical & lab chemistry services, toxicology testing services, cell & gene therapy related services, and preclinical & clinical trial related services and other clinical laboratory services. Bioanalytical & lab chemistry services segment is dominating the market because bioanalysis is an important factor in drug discovery and development. It is established that bioanalysis is a vital part of the pharmacokinetic/pharmacodynamic categorization of a novel chemical entity from its discovery and in different phases of drug development including all preclinical and clinical stages. Additionally, lab chemistry services provide support in the chemical analysis including elemental analysis, failure analysis and project analysis.

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.

Clinical Laboratory Services Market Reports - Table of Contents
1. Preface
    1.1. Market Definition and Scope
    1.2. Market Segmentation
    1.3. Key Research Objectives
    1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Clinical Laboratory Services Market
4. Market Overview
    4.1. Introduction
    4.2. Overview
    4.3. Market Dynamics
    4.4. Porter’s Five Force Analysis
5. Key Insights
    5.1. Technological Advancements
    5.2. Pricing Analysis
    5.3. Recent Developments
6. Global Clinical Laboratory Services Market Analysis and Forecast, By Product
7. Global Clinical Laboratory Services Market Analysis and Forecast, By Detector
8. Global Clinical Laboratory Services Market Analysis and Forecast, By Technology
9. Global Clinical Laboratory Services Market Analysis and Forecast, By Application
10. Global Clinical Laboratory Services Market Analysis and Forecast, By End-user
11. Global Clinical Laboratory Services Market Analysis and Forecast, By Region
12. North America Clinical Laboratory Services Market Analysis and Forecast
13. Europe Clinical Laboratory Services Market Analysis and Forecast
14. Asia Pacific Clinical Laboratory Services Market Analysis and Forecast
15. Latin America Clinical Laboratory Services Market Analysis and Forecast
16. Middle East & Africa Clinical Laboratory Services Market Analysis and Forecast
17. Competitive Landscape

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