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Clinical Laboratory Services Market: Growing Demand for Quick Results and High Prevalence of Seasonal Infections Remain Important Drivers
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The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment and sub-segment for the period from 2017 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global clinical laboratory services market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global clinical laboratory services market.
Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of features of different types of tests and various laboratory services. Additionally, market related factors such as rise in preference of infectious diseases, population growth, rise in per capita healthcare expenditure etc. in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Clinical laboratory or a medical laboratory is a place where tests are performed on clinical specimen to collect the information of the patient related to diagnosis or disease prevention. Laboratory testing is said to be the first step towards diagnosis and prevention of a diseases or any condition. Prevalence of infectious diseases has a great impact on the clinical laboratory services market.
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Based on test types, the global clinical laboratory services market has been segmented into clinical chemistry, medical microbiology and cytology, food intolerance test, human and tumor genetics and other esoteric test. The clinical chemistry test involves testing of bodily fluids. The segment is anticipated to hold a significant share of the global market. The clinical chemistry test have a significant demand and is expected to continue dominating the global market throughout the forecast period. Medical microbiology and cytology is the fastest growing segment due to prevalence to infectious diseases.
Based on service providers, the global clinical laboratory services market is segmented into stand-alone laboratories, hospital based laboratories, contract research organizations (CROs) and others. The stand-alone laboratories segment is anticipated to dominate the market during the forecast period due to privatization of the laboratories, value added services offered such as online booking, sample collection at home etc.
Geographically, the global clinical laboratory services market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region.
The report also profiles major players in the clinical laboratory services market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Charles River Laboratories International, Inc., SYNLAB International GmbH, Sonic Healthcare, NeoGenomics Laboratories, Inc., Genomic Health, Inc., Fresenius Medical Care, Laboratory Corporation of America Holdings, UNILABS, Quest Diagnostics Incorporated, Eurofins Scientific etc.
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