The Global Clinical Laboratory Services Market Share has increased with increasing incidence of rate of cancer, diabetes, and other infectious diseases; this led to the higher number of patient. In addition to that, these services are comparatively cost-effective, and create the least invasive method for clinical decision making. Besides that, launch of novel technologies that offer faster analysis and are user-friendly expand the global clinical laboratory services share.
The global Clinical Laboratory Services market worth USD 315.61 billion by 2030, growing at a CAGR of 5.1 %
The global clinical lab services industry is segmented into its ownership, type, laboratory type and products. Based on types of clinical lab services, the categories are general/routine and specialty. Among types, the clinical chemistry accounts the largest market share. The growth of this segment is contributed to demand of early disease diagnosis of diseases like diabetes, cardiovascular, blood and liver & kidney disorders. On the basis of laboratory type, the market is bifurcated into hospital and commercial. In terms of ownership, the market is divided into hospital and commercial. On the basis of products, the market has categories which includes instruments, services, and reagents. In service- providers, the segment of stand-alone laboratories holds the largest global clinical lab services market share due to the availability of wide range of tests provided by these labs. These new range of condition-specific markers and tests comes with advances in proteomics & genomics.
Based on geography, the global clinical lab services market is dominated in several regions, namely, Europe, Asia Pacific, North America, and the Rest of the World (RoW). Europe is anticipated to have the largest share in global market due to growing initiatives by government for promoting awareness about growing private and public funding for research on the progress of clinical laboratory tests, preventive screening and growing adoption of genome-based laboratory tests are favoring the market growth. Asia-Pacific is anticipated to record the highest growth rate in the next couple of years because of growing number of clinical diagnostics laboratories and hospitals and higher healthcare expenditure in China and India, and strong research base across Japan, India and China.
The key players contributing in the global clinical lab services industry includes ACM Medical Laboratory, Abbott Laboratories, Arup Laboratories, Adicon Clinical Laboratory, Bio-Reference Laboratories, Charles River Laboratories, Inc., Bioscientia Healthcare, and Clarient Inc. Other prominent players too have considerable contribution in this market which includes Genzyme Corporation, Genoptix Medical Laboratory, Healthscope Ltd., Labcorp, Intertek, Labco S.A., Lifelabs Medical Laboratory, Siemens Sonic Healthcare Limited, Qiagen, Quest Diagnostics, Inc., Unilabs and Spectra Laboratories. Product launch, partnership, collaboration & merger, R&D and acquistion are the key strategies adopted by the market players. Giants of healthcare industry such as Bioscientia Healthcare Group was acquired by Sonic Healthcare Limited in August 2007 creating a high growth in global clinical laboratory services market.
Clinical Laboratory Services Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 315.61 billion|
|Growth Rate||CAGR of 5.1% during 2021-2030|
|Segment Covered||by Specialty, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Qiagen, Quest Diagnostics, Inc, OPKO Health, Inc, Abbott, Charles River Laboratories; International, Inc, Cinven, Arup Laboratories, Sonic Healthcare, Laboratory Corporation of America Holdings (LabCorp), NeoGenomics Laboratories, Inc.|
Key segments of ‘Global Clinical Lab Services Market’
Based on type, the market has been segmented into,
- Clinical Chemistry
- Medical Microbiology & Cytology
- Human & Tumor Genetics
- Other Esoteric Tests
Based on service provider, the market has been segmented into,
- Hospital-based Laboratories
- Clinic-based Laboratories
- Stand-alone Laboratories
- Independent and Reference Laboratories
- Hospital-based Laboratories
- Nursing and Physician Office-based Laboratories"
Based on region, the market has been segmented into,
- North America
- Asia Pacific
- South Africa