Clinical Chemistry Global Market Report 2024 by The Business Research Company | Abbott Laboratories, F. Hoffmann-La Roche Ltd., ELITechGroup SAS, Beckman Coulter Inc., Thermo Fisher Scientific Inc., Siemens AG, Ortho Clinical Diagnostics Holdings plc, Dia

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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Clinical Chemistry Market Major Segments
The clinical chemistry market covered in this report is segmented -

1) By Product: Analyzers, Reagents And Consumables
2) By Application: General Chemistry Test, Liver Function Test, Kidney Function Test, Urinalysis, Electrolyte Panel, Lipid Profile, Specialty Chemical Test, Other Applications
3) By End User: Hospitals, Diagnostic Or Pathology Centers, Ambulatory Surgery Centers, Other End Users

Key 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.

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Prominent 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.

Clinical Chemistry Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the chemical chemistry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical chemistry market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Clinical Chemistry Market Report Structure
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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