Clinical Laboratory Tests Market is expected to reach USD 399819.07 million by 2029

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Data Bridge Market Research analyses that the clinical laboratory tests market which was USD 206,645.00 million in 2021, is expected to reach USD 399819.07 million by 2029, at a CAGR of 8.6% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Market Definition

Clinical laboratory test results are used in diagnostic decision making as part of clinical medicine. Clinical laboratory tests are classified into three types. The US Food and Drug Administration (FDA) determines the testing categories of tests that have been cleared for clinical use using a scoring system that considers the complexity of the testing, the stability of calibrators, controls, pre-analytical steps required, and the need for result interpretation. The test samples are analysed by a technician or your doctor to see if your results are within the normal range. Clinical laboratories are medical services that offer a wide range of research techniques to help doctors with diagnosis, therapeutic interventions, and patient supervision. These labs are run by medical technologists (clinical laboratory physicists), who are qualified to conduct experiments on collections of biological samples obtained from their patients. The vast majority of clinical labs are housed within or near medical facilities, making them accessible to both doctors and patients. Clinical laboratory classifications show that these facilities can include high-quality laboratory experiments required to meet clinical and public health demands.

Global Clinical Laboratory Tests Market Dynamics
Drivers

Growing geriatric population will bolster the growth rate
The growing geriatric population is expected to drive the overall clinical laboratory test market. According to the World Population Prospects: the 2019 Revision data, approximately one in every eleven people in the world were over the age of 65 in 2019, and by 2050, it is estimated that approximately one in every six people will be over the age of 65. Clinical laboratory tests are being used more and more to diagnose age-related diseases.

Furthermore, the rising rate of insufficient exercise, unhealthy food consumption, and the resulting rise in cases of obesity are expected to increase the prevalence of various chronic diseases. The growing awareness of the importance of regular body profiling among healthcare professionals and patients around the world is drive up demand for clinical laboratory tests.

Rising prevalence of target diseases
The market is expected to benefit from the rising prevalence of target diseases such as cardiovascular disease and diabetes during the forecast period. Cardiovascular diseases are the leading cause of death worldwide. Demand for point-of-care lipid testing is expected to be driven by unmet medical needs related to cardiovascular diseases and increased patient awareness. The World Health Organization predicts that cardiovascular diseases will be the leading cause of death and morbidity in 2021. In the last three decades, 17.7 million people have died from cardiovascular diseases, accounting for 31% of all fatalities worldwide.

The rising prevalence of lifestyle-related diseases such as obesity, the global smoking trend, and an unhealthy diet are among the factors contributing to the global rise in the incidence of renal and lipid-related disorders. Furthermore, as the global prevalence of diabetes rises, so does the number of patients who require clinical laboratory tests.

Opportunities

Innovative solutions in clinical laboratory tests
Innovative solutions for improving efficiency and eliminating errors are expected to be a major rendering driver in this industry. Integrated workflow management systems, database management tools, and patient test records are becoming increasingly important in the healthcare industry, with organisations processing 100 to 150 billion samples per year. The implementation and development of data management and informatics solutions to support smooth operations are expected to drive market growth.

Test Type

Clinical
Complete Comprehensive Test or Complete Body Test
Complete Body Count (CBC)
Basic Metabolic Panel (BMP)
HGB/HCT
HbA1c Tests
BUN Creatinine Tests
Electrolytes Tests
Renal Panel Tests
Lipid Panel Tests
Hepatitis
Bile Duct Obstruction
Liver Cirrhosis
Liver Cancer
Bone Disease
Autoimmune Disorders
Others
Routine
Speciality
Application

Parasitology
Haematology
Virology
Toxicology
Immunology/Serology
Histopathology
Urinalysis

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Some of the major players operating in the clinical laboratory tests market are:

Abbott (U.S.)
ARUP Laboratories (U.S.)
OPKO Health, Inc. (U.S.)
Bioscientia Healthcare GmbH (Germany)
Charles River Laboratories (U.S.)
NeoGenomics Laboratories (U.S.)
Genoptix, Inc. (U.S.)
Healthscope (Australia)
The Laboratory Glassware Co. (U.S.)
Laboratory Corporation of America® Holdings (U.S.)
Fresenius Medical Care AG & Co. KGaA (Germany)
QIAGEN (Germany)
Quest Diagnostics Incorporated (U.S.)
Siemens Healthcare Private Limited (Germany)
Tulip Diagnostics (P) Ltd. (India)
Sonic Healthcare Limited (Australia)
Merck KGaA (Germany)

More Links:

https://dbmrbuisness.blogspot.com/2023/08/global-liver-function-test-market.html

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