Clinical Laboratory Services Market Segments, Top Key Players, Drivers And Trends 2022

Precision Business Insights published a research report on "Laboratory Services Market by Test Type (Clinical Chemistry, Medical Cytology & Microbiology, Human & Tumor Genetics), service provider (Hospitals Based, Standalone Laboratories, Clinical Laboratories), application (Gene Therapy, Toxicological Study, Drug Discovery and Development, Pre-clinical & Clinical Trial Services, Others) and Geography - Global/Region/Country Forecast to 2028"

A clinical laboratory is an important part of an economy's healthcare system since it offers a wide range of services, such as patient diagnosis, diagnosis, treatment, and management. These services assist healthcare practitioners in making medical decisions and tailoring medicines based on the needs and illnesses of individuals. To limit human error and offer trustworthy findings, clinical and laboratory services rely on technically advanced machines and testing kits. Several clinics are now increasingly relying on software applications and computers to assist patients with reporting results and invoicing for finished tests.

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Infectious illness outbreaks around the world, as well as technical developments in clinical diagnosis methods, are two of the most important reasons propelling the global clinical laboratory services market forward. Clinical laboratories are an important part of the medical and healthcare industries. These laboratories are used all around the world to perform a wide range of diagnostic procedures, from simple blood tests to complicated genetic analysis testing. Solutions in the worldwide clinical laboratory services market include resources and data management abilities that can help healthcare institutions optimize their distribution. Clinicians can start, alter, and discontinue treatment in the lack of clinical lab facilities thanks to solutions in the worldwide clinical laboratory services market.

The Clinical Laboratory Services Market on the basis of Test Type, the market is categorized into Medical Cytology & Microbiology, Clinical Chemistry, and Human & Tumor Genetics. On the basis of service provider, the market is fragmented into Standalone Laboratories, Hospitals Based, and Clinical Laboratories. On the basis of application, the market is segregated into Toxicological Study, Gene Therapy, Pre-clinical & Clinical Trial Services, Drug Discovery and Development, and Others.

North America dominated the clinical laboratory services market in 2020, accounting for 40.5 percent of total revenue. Within the region, the United States is expected to see significant expansion due to the country's high burden of chronic diseases, which necessitates the use of clinical laboratory services for effective treatment and patient care. According to the National Center for Biotechnology Information, 40.0 percent of the US population, or 130 million people, had at least one chronic condition in 2018. From 2021 to 2028, the clinical laboratory services market in Asia Pacific is expected to develop at the quickest rate. This rapid expansion is due to an increase in scientific research and favorable economic growth, as well as an increase in unmet medical requirements.

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There are several industry players working in the Clinical Laboratory Services Market, which include Bio-Reference Laboratories Inc. (OPKO Health) (U.S.) Alere, Inc. (Abbott Laboratories) (U.S.) DaVita Healthcare Partners, Inc. U.S.) Laboratory Corporation of America Holdings (U.S.) Genomic Health, Inc. (U.S.) Myriad Genetics, Inc. (U.S.) Quest Diagnostics, Inc. (U.S.) NeoGenomics, Inc. (U.S.) Siemens Healthineers (Siemens AG) (Germany) Spectra Laboratories (Fresenius Medical) (Germany) SYNLAB Group (Germany) Sonic Healthcare Limited (Australia)

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