Press release
Clinical Chemistry Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Abbott Laboratories, F. Hoffmann-La Roche Ltd., ELITechGroup SAS, Beckman Coulter Inc., Thermo Fisher Scientific Inc
Clinical Chemistry Market Size
The Business Research Company offers in-depth market insights through Clinical Chemistry 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 clinical chemistry market size has grown strongly in recent years. It will grow from $14.04 billion in 2023 to $15.02 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increased diagnostic testing demand, healthcare industry growth, aging population, increased disease diagnosis and management, and research and development.
The clinical chemistry market size is expected to see strong growth in the next few years. It will grow to $20.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing demand for precision medicine, growing need for biomarker discovery, increasing demand for personalized healthcare, emerging infectious diseases, and telemedicine and remote monitoring. Major trends in the forecast period include advanced analytical techniques, ai and machine learning integration, technological innovations, laboratory automation, and cutting-edge solutions.
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Market Segmentation:
The main types of products in clinical chemistry are analyzers, reagents, and consumables. The term "analyzer" refers to a laboratory device that is used to determine the concentration of certain compounds in samples of serum, plasma, urine, and/or other bodily fluids and a device that initiates reactions utilising reagents using the pale-yellow supernatant part (serum) of centrifuged blood or urine samples. The different applications include general chemistry tests, liver function tests, kidney function tests, urinalysis, electrolyte panels, lipid profiles, specialty chemical tests, and others that are used in hospitals, diagnostic and pathology centers, ambulatory surgery centers, and other end users.
Major Driver - Rising Chronic Disease Burden Fuels Growth Of Clinical Chemistry Market
The increase in the prevalence of chronic diseases is expected to propel the growth of the clinical chemistry market going forward. A chronic disease is a condition that lasts for a year or longer, necessitates continuous medical care, restricts daily activities, or both. Chronic diseases, including diabetes, cancer, and heart disease, are the top causes of death and disability across the globe. Clinical chemistry creates and enhances techniques for determining the illness status and risk of a number of chronic diseases, such as cardiovascular disease, diabetes, and hormone disorders. It uses laboratory support for initiatives involving the flu and particular infectious diseases. In September 2023, the World Health Organization (WHO) reported that chronic diseases kill 41 million people each year, equivalent to 74% of all deaths globally . Therefore, the increasing prevalence of chronic diseases is driving the clinical chemistry market growth.
Competitive Landscape:
Major companies operating in the clinical chemistry market include Abbott Laboratories, F. Hoffmann-La Roche Ltd., ELITechGroup SAS, Beckman Coulter Inc., Thermo Fisher Scientific Inc., Siemens AG, Ortho Clinical Diagnostics Holdings plc, Diatron Mi Apac Private Limited, Nova Biomedical Corporation, Johnson & Johnson Services Inc., Alfa Wassermann USA Inc., HORIBA Ltd., Mindray Medical International Limited, Randox Laboratories Limited, SYNLAB International GmbH, Agilent Technologies Inc., Alcami Corporation, ARUP Laboratories Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Charles River Laboratories International Inc., Danaher Corporation, Eurofins Scientific SE, GE Healthcare Technologies Ltd., Horiba Medical Inc., Laboratory Corporation, Luminex Corporation, Medtronic plc, PerkinElmer Inc., Quest Diagnostics Incorporated, Sysmex Corporation, Tosoh Corporation, Trinity Biotech plc, Waters Corporation, Werfen S.A.
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Top Trend - Technological Advancements Transform The Clinical Chemistry Market
Technological advancements are a key trend gaining popularity in the clinical chemistry market. Major companies operating in the clinical chemistry sector are focused on adopting new technological solutions to strengthen their market position. For instance, in July 2021, Core Clinical Chemistry Lab, the medical center od Vanderbilt University based in US, launched a faster, higher-volume automated chemistry line. This chemistry line doubled the daily capacity for routine, critical tests of patient blood samples' electrolyte, protein, and enzyme levels.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Clinical Chemistry Market Characteristics
3. Clinical Chemistry Market Trends And Strategies
4. Clinical Chemistry Market - Macro Economic Scenario
5. Clinical Chemistry Market Size And Growth
…..
27. Clinical Chemistry Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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