The global clinical laboratory services market size reached US$ 231.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 322.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
A clinical laboratory plays an integral role in the healthcare system of an economy as it provides a wide range of services, including the diagnosis, prevention, treatment, and management of patients. These services help healthcare professionals in medical decision-making and personalizing medicines based on the individuals’ needs and illness. Clinical laboratory services rely on technologically advanced devices and testing kits to reduce human error and provide reliable results. At present, several clinics are increasingly utilizing software programs and computers to help patients get information about reporting results and billing for completed tests.
Clinical Laboratory Services Market Trends:
The increasing incidence of chronic diseases, such as cancer and diabetes, along with the rising awareness about early diagnosis among individuals, represents one of the major factors contributing to the market growth. Moreover, there is an increase in the introduction of innovative products, such as companion diagnostics, biochips, and microarrays, which is influencing the growth of the market. Apart from this, the increasing cases of coronavirus disease (COVID-19) worldwide are bolstering the need for healthcare resources like clinical laboratories for diagnostics and management of the infection. In line with this, several clinical laboratories are collaborating with hospital facilities to minimize time, cost and human resources and meet the global demand for diagnostic testing. Furthermore, several companies are offering point-of-care (POC) and rapid testing kits to achieve quick results in real-time accurately. Besides this, a significant rise in the number of novel drug candidates in clinical trials is anticipated to drive the demand for clinical laboratory services.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global clinical laboratory services market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on test type, service provider and application.
Breakup by Test Type:
- Human and Tumor Genetics
- Clinical Chemistry
- Medical Microbiology and Cytology
Breakup by Service Provider:
- Hospital-Based Laboratories
- Stand-Alone Laboratories
- Clinic-Based Laboratories
Breakup by Application:
- Bioanalytical and Lab Chemistry Services
- Toxicology Testing Services
- Cell and Gene Therapy Related Services
- Preclinical and Clinical Trial Related Services
- Drug Discovery and Development Related Services
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Charles River Laboratories, F. Hoffmann-La Roche Ltd, Illumina Inc., NeoGenomics Laboratories Inc., Quest Diagnostics Incorporated, Siemens Healthcare GmbH (Siemens AG) and Thermo Fisher Scientific Inc.
|Base Year of the Analysis
||Test Type, Service Provider, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Charles River Laboratories, F. Hoffmann-La Roche Ltd, Illumina Inc., NeoGenomics Laboratories Inc., Quest Diagnostics Incorporated, Siemens Healthcare GmbH (Siemens AG) and Thermo Fisher Scientific Inc.
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Key Questions Answered in This Report:
- How has the global clinical laboratory services market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global clinical laboratory services market?
- What are the key regional markets?
- What is the breakup of the market based on the test type?
- What is the breakup of the market based on the service provider?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global clinical laboratory services market and who are the key players?
- What is the degree of competition in the industry?