Press release
Clinical Laboratory Test Market to 2027, Future Outlook, Major Players - Quest Diagnostics, Sonic Healthcare, AURORA Diagnostics, LifeLabs Medical Laboratories, Laboratory Corporation
Clinical Laboratory Test Market
Market Research Future (MRFR) anticipates the clinical laboratory test market to soar at a rate of 6.5% between 2020 and 2027. The market size shall touch approximately USD 324508.8 million by the end of 2027.
Major Drivers and Challenges
Mushrooming aging population worldwide has been a huge factor in the market growth over the years, fostering the need for effective clinical laboratory tests. The demand for clinical laboratory tests has grown immensely in line with the expanding elderly population for numerous routine medical tests such as blood test, diabetes test, full-body profile, eye-check up, and many more. Extensive use of several diagnostic tests such as CT scan, MRI, ultrasound, and X-ray for clear image of organs will be favorable for the global industry in subsequent years. Also, the rapid increase in the number of anatomical pathology tests will facilitate further business growth over the coming years.
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Key Players
Quest Diagnostics, Sonic Healthcare, AURORA Diagnostics, LifeLabs Medical Laboratories, Laboratory Corporation of America are the key clinical laboratory test manufacturers in the global market.
Segmental Analysis
The clinical laboratory test industry can be considered for type of laboratories, types of tests, applications, as well as end-users.
The types of laboratories covered in the MRFR assessment are hospital-based laboratories, physician office-based laboratories, central/independent laboratories, and others.
Various types of tests discussed are BUN creatinine test, lipid panel test, renal panel test, electrolytes testing, comprehensive metabolic panel test, HbA1c test, liver panel test, HGB/HCT test, complete blood count (CBC), basic metabolic panel (BMP), and others.
Major applications of clinical laboratory tests are parasitology, histopathology, urinalysis, toxicology, immunology/serology, virology, hematology, and many more.
The end-users of clinical laboratory test include hospital-based laboratories, stand-alone laboratories, clinics-based laboratories, and others.
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Regional Analysis
North America dominated the global market for clinical laboratory testing. The regional market's dominance is bolstered by the rising use of improved diagnostic procedures and rising test volumes. In addition, the need for clinical laboratory testing is predicted to rise as the world's population ages, cancer rates rise, and improved diagnostic procedures become more widely used. The European region holds the second-largest market share in the global market for clinical laboratory tests, owing to increased demand for clinical laboratories in clinic and research institutes. Due to improvements in healthcare infrastructure enabling the introduction of advanced diagnostic technologies in emerging regions such as China and India, Asia-Pacific is expected to be the fastest-growing market throughout the forecast period. Furthermore, untapped potential like unmet medical demands, favorable economic growth, and expanding scientific research avenues are some of the key drivers for the Asia-Pacific clinical laboratory tests market. Due to insufficient development in health and medical facilities, the Middle East and African region have the smallest market share in the global market.
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About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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