World Clinical Reference Laboratories Market 2018 by KingMed Diagnostics, Aurora Diagnostics, Sonic HealthCare Limited, Synlab International GmbH and Forecasts Till 2027

The Clinical Reference Laboratories are private as well as commercial facilities that perform high volume routine and specialty testing. The tests performed in these laboratories are referred by physician's offices, hospitals, government agencies, insurance companies, pharmaceuticals and biotechnology companies who outsource their specialty tests to reference laboratories. These clinical reference laboratories conduct various types of diagnostic testing which include services such as environmental microbiology, cytology, genetics, diagnostic trials and related services in order to identify the cause of the disease, to analyse the progression phase of the disease, imbalances in the physiology and other such factors.

The Global Clinical Reference Laboratories Market is growing exponentially owing to the increasing value-based outsourcing from hospitals will boost the market for clinical reference lab services and application of advanced automation technology in reference laboratories all these factor are contributing to the growth of the market. Globally the market for Clinical reference laboratories is expected to grow at the rate of about 5.8 % from 2016 to 2022.

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The most significant innovation is the development of genetics and molecular technologies into mainstream medicine which will have substantial impact on the health of the population, clinical practice and the management of patients. Hospitals spend 3-4% on an average for their net patient revenue on clinical laboratory services. The mid-size 300-500 bed hospitals with annual net patient revenue of approximately $300 million contracts with a national diagnostic testing laboratory which has reduced the laboratory spending up to 20% or $2 million annually. One of the reason for increasing outsourcing by hospitals is the budgets constrains resulting in the decline of medicare reimbursements.

Industry Updates

Feb, 2017 Quest Diagnostics and PeaceHealth to Increase Access to Innovative, High-Value Laboratory Services in the Pacific Northwest. Both the parties have formed a two part arrangement to improve the delivery of laboratory services in United States

Feb, 2017 Veracyte To Expand Patient Access To The Afirma Gene Expression Classifier In Thyroid Cancer Diagnosis Through Agreement With Quest Diagnostics. This agreement is focused on reducing surgery and healthcare cost by resolving diagnostic problems.

Feb, 2017 Unilabs acquires Alpha Medical, a leading medical diagnostics company in Slovakia and the Czech Republic, two important Eastern European markets. This acquisition signals Unilabs return to making smart acquisitions, aligned with the services portfolio and high-end quality standards.

Jan, 2017 ARUP recently earned the highly respected ISO 15189 status from the College of American Pathologists (CAP). In doing so, some would say ARUP sharpened its axe to the cutting edge – bringing six laboratory divisions, with over 70 individual labs, into close, coordinated communication and integrating a new system.

Global Clinical Reference Laboratories Market - Regional Analysis

North America holds the largest market share of ~47% for the global clinical reference laboratories market in the forecast period. In Europe, the EU Reference Laboratories (EURLs) aims to ensure high-quality laboratory testing. They also support the commission activities on risk management and risk assessment in the area of laboratory analysis. Developed countries in APAC region such as Japan, China, and India exhibit strong growth with a significant CAGR over the forecast period.

Global Clinical Reference Laboratories Market - Competitive Analysis

The clinical reference laboratory industry has turned into a critical and element power in global clinical laboratory industry. Through extensive research it is found out that the market players have adopted the strategy of bringing in acquisition for new specialized techniques to perform the clinical trials and medical laboratory testing in the market, the key player involved in this strategy are Sonic HealthCare Limited, Aurora Diagnostics, Unilabs among others.

Some of the key players in this market are: Laboratory Corporation of America, KingMed Diagnostics, Aurora Diagnostics, Sonic HealthCare Limited, Synlab International GmbH, Bioreference Laboratories, Unilabs, Clinical Reference Laboratory, ARUP Laboratories, Quest Diagnostics and others.

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Major TOC for Clinical Reference Laboratories Market:

1 Report Prologue

2.1 Research Objective

2.2 Assumptions & Limitations

2.2.1 Assumptions

2.2.2 Limitations

2.3 Market Structure

2.4 Market Segmentation

2.4.1 by Service Providers

2.4.1.1 Introduction

2.4.1.2 In Stand Alone

2.4.1.3 In Hospital Based

2.4.1.4 In Clinical Based

2.4.2 by Application

2.4.2.1 Introduction

2.4.2.2 Clinical Trials

2.4.2.3 Laboratory Medicine

2.4.2.4 Others

2 Scope of Study

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

4 Market Dynamics

4.1 Drivers

4.1.1 Increasing value-based outsourcing from hospitals will boost the market for clinical reference lab services

4.1.2 Application of advanced automation technology in reference laboratories

4.1.3 Cost and time savings for hospitals and clinics due to increase in outsourcing by independent laboratories

4.2 Restraints

4.2.1 Healthcare budgetary restrictions will hamper the growth of the market

4.2.2 High costs of advanced technologies may lead to an increase in the costs of specialized tests

4.3 Opportunities

4.4 Challenges

…..Continued

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