Clinical Reference Laboratory Market Valued At US$ 234.5 Billion In 2023

By the end of 2033, the market for clinical reference laboratories is anticipated to have grown consistently at a CAGR of 5.8%, reaching US$ 412 billion. Clinical specimens obtained from patients are examined in a laboratory setting during clinical pathology tests to learn more about their health condition, help with the identification and diagnosis of disorders and direct treatment choices.

The market for clinical reference laboratories is predicted to grow more quickly as a result of the increasing emphasis on molecular biology. Both the development of the area of microbiology and the growth of bio-reference laboratories are anticipated to increase demand for clinical reference laboratories. Additionally, the business is anticipated to benefit significantly from the rising investment in laboratory services.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8520?PS

The market is being driven by the increasing prevalence of chronic and infectious illnesses as well as the rising demand for precise and expedient disease diagnosis methods. Globally, the burden of chronic diseases and infectious diseases is continually rising. Demand for clinical diagnostic tests is increasing due to the rising incidence of diseases such as cancer and tuberculosis. Diagnostic tests are one of the most accurate ways to identify and characterize biomarkers of chronic diseases and to detect the presence of pathogens.

For instance, a WHO update estimates that as of 2021, 10 million individuals worldwide have tuberculosis, of which, 5.6 million men, 3.3 million women, and 1.1 million children were affected.
Increased prevalence of such disorders across the world is projected to boost the demand for clinical care, thereby leading to higher need for clinical reference laboratory services.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

The global clinical reference laboratory market is valued at US$ 234.5 billion in 2023.
Demand for clinical reference laboratory services is projected to rise at a CAGR of 5.8% during the forecast period (2023 to 2033).
The global market is projected to touch US$ 412 billion by 2033.
North America accounts for 35% share of the global clinical reference laboratory market in 2023.
Demand for clinical reference laboratory services in Asia Pacific is projected to rise at a CAGR of 4.8% through.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 -
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8520

𝐖𝐢𝐧𝐧𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲

To expand their consumer base, key players are employing various strategies such as mergers and acquisitions, in response to the increasing efforts. These strategies are expected to intensify market competition in the near future. The rising incidence of chronic diseases among the expanding population is expected to drive demand for these services and draw more players to the market.

In December 2020, TriCore Reference Laboratories, an independent clinical reference laboratory supported by Presbyterian Healthcare Services and the University of New Mexico Health Sciences Centre, opened a new branch lab at New Mexico State University. This facility has already processed more than 15,000 COVID-19 tests to date.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝

OPKO Health Inc.
Quest Diagnostics Incorporated
Myriad Genetics
LabCorp
NeoGenomics
Unilabs
Sonic HealthCare Limited
KingMed Diagnostics
SYNAB International GmbH
ARUP Laboratories

𝐂𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐑𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐋𝐚𝐛𝐨𝐫𝐚𝐭𝐨𝐫𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

By Type :

Standalone
Clinical-based
Hospital-based

By Application :

Clinical Trials
Laboratory Medicine

By Region :

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐎𝐟𝐟𝐞𝐫

Fact.MR, in its new offering, presents an unbiased analysis of the global clinical reference laboratory market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights on the market based on type (standalone, clinical-based, hospital-based) and application (clinical trials, laboratory medicine), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

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This release was published on openPR.