openPR Logo
Press release

Medical Laboratories Market Set to Surge Significantly During 2014-2020

11-29-2017 06:42 AM CET | Health & Medicine

Press release from: Transparency Market Research

Medical Laboratories Market Set to Surge Significantly During

Medical laboratories are defined as the independent, commercial enterprises that provide information to the healthcare professionals about the severity, onset and reason of patients' physical ailments. Medical laboratories include biological, bacteriological, histological, pathological and chemical analysis, urinalysis and dental and medical X-rays. About 70% of the health care decisions taken by doctors for treatment of diseases are based on the results of laboratory testing which makes the medical laboratories a vital part of the global healthcare system. Based on the testing services, medical laboratories market is segmented into four major categories that include:

Routine medical testing
Esoteric medical testing
Anatomical pathology testing
Diagnostic imaging testing

Routine medical testing includes full body testing including eye checkup, blood test, diabetes testing and others. Esoteric testing includes tests for rare diseases or substances that are not performed in the routine medical testing. Anatomical pathology testing includes histological analysis and urinalysis. Diagnostic imaging testing includes radiation procedures such as X-ray, MRI, CT and ultrasound used for diagnosing the patient’s condition through imaging of internal organs.

Request to View TOC @ https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=345

Medical laboratories market is growing at a faster pace majorly due to increasing need for medical testing in aging population. Additionally, rising shift towards preventive care testing, compelling for technological improvements and innovations is also driving the medical laboratories market. While the demand for medical laboratories has increased many folds in recent years, this market is also posing a major challenge in the form of inadequate skilled workers. Moreover, according to the U.S. Bureau of Labor Statistics, employment in healthcare sector has decreased at an annualized rate of 0.6% over the last five years i.e. from 2009 to 2013.

Lack of availability of skilled professionals has forced operators to boost the salaries to attract new talent and retain the current employees. However, the rising use of standardization and automation in medical laboratories has helped mitigate the wage costs.

North America and Europe leads the medical laboratory market majorly due to scientific advances and aging U.S. population. According to the data of Centers for Disease Control and Prevention (CDC), in 2010 there were 40 million people aged 65 and above in the U.S. accounting for 13% of the total population and CDC projected that around 20% of the population of U.S. would be under this category by 2030.

Moreover, the healthcare reform legislation formed in 2010 in U.S. has benefited the growth of medical laboratories market. With the help of this reform, access to medical insurance has increased in the U.S. boosting the demand for medical laboratories and shrinking the out-of-budget costs for the general population in availing the medical testing services. However, the reimbursement cuts on few medical testing procedures is restraining the market in U.S. and Europe as the reimbursement policies are available only on few testing procedures such as in high-margin esoteric tests and genetic testing.

Request for Broucher @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=345

Asia-Pacific is growing rapidly in medical laboratories market majorly due to growing awareness about the medical testing services, government support to improve healthcare sector and introduction of new and improved testing procedures by major market players in this region. Asia-Pacific Federation for Clinical Biochemistry and Laboratory Medicines is the regional federation, which includes the members from seven countries of Asia-Pacific region. This federation is focused on spreading awareness and improving patient conditions with respect to the access medical laboratories and other testing procedures.

Some of the market players in the medical laboratories market include Quest Diagnostics, Inc., Laboratory Corporation of America Holdings, The British United Provident Association, Ltd., NHS Blood and Transplant, London Ambulance Services, Fargo Medical Laboratories, Labco Quality Diagnostics and LifeLabs Medical Laboratory Services.

ABOUT US:
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

CONTACT:
Transparency Market Research
State Tower
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Medical Laboratories Market Set to Surge Significantly During 2014-2020 here

News-ID: 836286 • Views: 227

More Releases from Transparency Market Research

Pipeline Processing and Pipeline Services Market to Register a Stout Growth by E …
Overview TMR’s report on the Pipeline Processing and Pipeline Services Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Pipeline Processing and Pipeline Services Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Pipeline
Gas to Liquids (GTL) Market to Undertake Strapping Growth by the End 2024
Overview TMR’s report on the Gas to Liquids (GTL) Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Gas to Liquids (GTL) Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Gas to Liquids
Solar Fuel Market to Record an Exponential CAGR by 2024
Overview TMR’s report on the Solar Fuel Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Solar Fuel Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Solar Fuel Market over the forecast period.
Oil Refinery Market Poised to Garner Maximum Revenues by 2024
Overview TMR’s report on the Oil Refinery Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Oil Refinery Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Oil Refinery Market over the forecast period.

All 5 Releases


More Releases for Medical

Affordable Medical Cover Plans
Taking great care of health is important, but it does not assure a healthy life. Even after taking all the precautions, people can still get unwell due to various reasons. Unfortunately, medical treatment is not always affordable for everyone. Losing loved ones due to lack of money is the worst nightmare for any person. Luckily, now you can cover your whole family for medical treatment by purchasing affordable medical covers
Medical Power Market Medical Power Market
This report studies Medical Power in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. Request for discount @ https://www.researchtrades.com/discount/1445183 This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering Astrodyne TDI (US) CUI Inc. (US) Delta Electronic, Inc (TW) Excelsys
Global Medical Aesthetics Market
The Global Medical Aesthetics Market is expected to reach USD 26.53 billion by 2024 from USD 10.12 billion in 2016, at a CAGR of 12.8% in the forecast period 2017 to 2024. “Global Medical Aesthetics Market”, By Product Type (Aesthetic Laser Devices, Energy Devices, Skin Tightening & Body Contouring Devices, Aesthetic Implants, Facial Aesthetic Devices), Applications (Anti-Aging & Wrinkles, Facial & Skin Rejuvenation, Vascular Lesions, Body Shaping & Cellulite, Breast
Medical Ventilators – Medical Devices Pipeline Assessment, 2017
ReportBazzar has released its latest research-based report entitled ‘Medical Ventilators’ market. This report provides a holistic approach to the market growth with a detailed and precise analysis of the overall competitive scenario of the Medical Ventilators market. The report also provides a detailed analysis of key trends and latest technologies, playing a prominent role in the Medical Ventilators market growth. It takes into account aspects such as drivers, restraints, challenges, and
Medibmls-Medical Encyclopedia
The Medibmls Medical Encyclopedia contains public health information for patients and others about medical laboratory tests and general healthcare. This medical encyclopedia is developed to provide patients and others with background information about laboratory tests and health as part of the healthcare sector. Please visit us at: Medical Encyclopedia-Medibmls - https://medibmls.org/ Diseases - https://medibmls.org/diseases/ Laboratory Tests - https://medibmls.org/laboratory-tests/ Medibmls is a medical encyclopedia containing health information for patients and others about clinical laboratory tests and
Medical Electrodes Market
Medical electrodes are devices used to transfer energy of ionic currents into electrical current in the body. The currents passed into the body is amplified and has proved to be useful in diagnosing various diseases. Medical electrodes are noninvasive and comprises a metal, electrode conducting plate and lead. Medical electrodes progress with quantification of internal ionic currents results in diagnosis of nervous, cardiac, ocular and muscular disorders. The electrode works