Clinical Laboratory Tests Market Size, Research Report with Fastest Growing Countries Data 2023 to 2030

The clinical laboratory tests market size is expected to reach USD 342.14 billion by 2028 according to a new study by Report Ocean. Report Ocean presents a new report on clinical laboratory tests market size, share, growth, industry trends, and forecast 2028, covering various industry elements and growth trends helpful for predicting the market's future.

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The report "Clinical Laboratory Tests Market - By Type (Complete Blood Count, HGB/HCT, BUN Creatinine Tests, Electrolytes Testing, HbA1c Tests, Comprehensive Metabolic Panel, Liver Panel, Renal Panel, Lipid Panel); By End-Use; By Regions; Segment Forecast - 2028" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The advancements in clinical chemistry, surging consumer demand for early and accurate disease analysis, and growing public-private investments to spur grants and research funding towards laboratory testing services are few pivotal factors boosting the market growth for clinical laboratory tests. Clinical laboratory tests in the U.S. market are tightly regulated by the federal government.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the clinical laboratory tests market also experienced a slowdown. Statista estimates that the clinical laboratory tests market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the clinical laboratory tests market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the clinical laboratory tests market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

Diagnostic labs in the market have followed rules as mentioned in the amendments of Clinical Laboratory Improvement Amendments (CLIA). Under this act, the centers for Medicare and Medicaid Services (CMS) administers all clinical facilities performing tests on humans which are intended for disease treatment, prevention, and its diagnosis, and FDA classifies tests based on their complexity. Each clinical lab in the country must apply to obtain a certificate to certify the complexity of their tests.

There are over 200,000 clinical labs in the U.S. providing testing services in the market. Hospital-based clinical laboratory comprises around 5 percent of all labs in the country and perform over 55 percent of total volume, the largest among all in the market.

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Independent laboratory market segment, which hold around 3 percent of total laboratories, perform 32 percent tests volume. Moreover, physician labs, which are half of the total count of U.S. labs are responsible for around 8 percent of the laboratory volume in the market. Physician office labs mostly perform simple to moderate tests to provide immediate results to the clinicians.

Major Players:

Market players operating in the clinical laboratory tests industry include Abbott Labs; Bioscientia Institut fur Medizinische Diagnostik GmbH; ARUP Laboratories; Tulip Diagnostics (P) Ltd.; Charles River; Sonic Healthcare; OPKO Health, Inc.; NeoGenomics Laboratories; Merck KgaA; Laboratory Corporation of America Holdings; Quest Diagnostics; Fresenius Medical Care; Genoptix, Inc.; Healthscope Ltd., QIAGEN; Siemens Healthcare, and Biosino Biotechnology and Science Inc.

Clinical Laboratory Tests, Type Outlook (Revenue - USD Million, 2016 - 2028)

Basic Metabolic Panel

BUN Creatinine Tests

Complete Blood Count

Comprehensive Metabolic Panel

Electrolytes Testing

HGB/HCT

HbA1c Tests

Liver Panel

Lipid Panel

Renal Panel

Clinical Laboratory Tests, End Use Outlook (Revenue - USD Million, 2016 - 2028)

Central Laboratories

Primary Clinics

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Clinical Laboratory Tests, by Regional Outlook (Revenue - USD Million, 2016 - 2028)

North America

U.S.

Canada

Europe

France

Germany

UK

Italy

Spain

Netherlands

Austria

Asia Pacific

China

India

Japan

Malaysia

South Korea

Indonesia

Central & South America

Mexico

Brazil

Argentina

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

What is the goal of the report?

The market report presents the estimated size of the Clinical Laboratory Tests market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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This release was published on openPR.