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Medical And Diagnostic Laboratory Services Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Laboratory Corporation of America, Eurofins Scientific, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Kaiser Permanente, Ra

Medical And Diagnostic Laboratory Services  Market Size

Medical And Diagnostic Laboratory Services Market Size

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Medical And Diagnostic Laboratory Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The medical and diagnostic laboratory services market size has grown strongly in recent years. It will grow from $189.45 billion in 2023 to $207.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to advances in medical technology, aging population, healthcare reform, epidemics and pandemics, chronic disease prevalence.

The medical and diagnostic laboratory services market size is expected to see strong growth in the next few years. It will grow to $275.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to precision medicine, telemedicine and remote monitoring, personalized health, genomic testing, regulatory changes. Major trends in the forecast period include point-of-care testing, home testing kits, artificial intelligence (AI) and data analytics, telepathology and telelaboratory services, laboratory consolidation.

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Market Segmentation:
The main types of medical and diagnostic laboratory services are diagnostic imaging centers and medical laboratory services. A diagnostic imaging center is a service provider that offers technical or comprehensive diagnostic imaging services. The different expenditure types include public and private which are used in various applications such as cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, and others. The services are used by males and females.

Major Driver - The Role Of Medical Laboratories In Tackling Lifestyle-Related Diseases
The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic diseases result in the deaths of 41 million individuals annually, accounting for approximately 74% of all global fatalities in 2021. Tests to diagnose these diseases include HbA1c tests for monitoring diabetes, biopsies, tumor marker tests, bone scans, MRI and CT scans for diagnosis of various cancers, electrocardiograms, chest X-rays, cardiac CT scans, and stress tests for detection of cardiovascular diseases. The increase in the prevalence of lifestyle diseases will increase the demand for tests to diagnose these diseases and thus will drive the medical and diagnostic laboratory services market during the forecast period.

Competitive Landscape:
Major companies operating in the medical and diagnostic laboratory services market include Laboratory Corporation of America, Eurofins Scientific, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Kaiser Permanente, RadNet, OPKO Health, Myriad Genetics, Charles River Laboratories Inc., NeoGenomics Laboratories Inc., Bio-Reference Laboratories Inc., Guardant Health Inc., Invitae Corporation, Natera Inc., Foundation Medicine Inc., Veracyte Inc., Exact Sciences Corporation, Fulgent Genetics Inc., Progenity Inc., Adaptive Biotechnologies Corporation, Guardion Health Sciences Inc., Biocept Inc., Interpace Biosciences Inc., Psychemedics Corporation, Aeon Global Health Corp., Avellino Labs USA Inc., Bio-Techne Corporation, Enzo Clinical Labs Inc., Genoptix Inc., Genova Diagnostics Inc.

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https://www.thebusinessresearchcompany.com/report/medical-and-diagnostic-laboratory-services-global-market-report

Top Trend - The Role Of Biomarkers In Personalized Wellness Evaluation
Medical and diagnostic laboratories are using biomarkers to measure health parameters associated with individual wellness. The health and well-being of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in the immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at wealthy individuals and senior employees of corporations.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical And Diagnostic Laboratory Services Market Characteristics
3. Medical And Diagnostic Laboratory Services Market Trends And Strategies
4. Medical And Diagnostic Laboratory Services Market - Macro Economic Scenario
5. Medical And Diagnostic Laboratory Services Market Size And Growth
…..
27. Medical And Diagnostic Laboratory Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

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