Clinical Laboratory Services Market worth 146.41 Billion USD by 2022
The report "Clinical Laboratory Services Market by Specialty (Biochemistry, Endocrinology, Microbiology, Hematology, Cytology, Histopathology, Genetic Testing), Providers (Independent Laboratory, Reference Laboratory, Hospital Laboratory) - Global Forecasts to 2022" The clinical laboratory services market is expected to reach USD 146.41 billion by 2022 from USD 113.4 billion in 2017, at a CAGR of 5.2% during the forecast period. The growth of the market is attributed increasing global burden of target diseases; rising demand for early and accurate disease diagnosis; advancements in clinical diagnostic techniques; growing public-private investments. Research funding & grants to develop innovative laboratory testing procedures and rising government initiatives to improve the quality and affordability of clinical diagnostic testing procedures are expected to offer significant growth opportunities for manufacturers in the coming years.
Browse 73 market data Tables and 31 Figures spread through 167 Pages and in-depth TOC on "Clinical Laboratory Services Market by Specialty (Biochemistry, Endocrinology, Microbiology, Hematology, Cytology, Histopathology, Genetic Testing), Providers (Independent Laboratory, Reference Laboratory, Hospital Laboratory) - Global Forecasts to 2022"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/clinical-laboratory-services-market-554.html
Clinical chemistry segment to dominate the market in 2017
Based on specialty, the clinical laboratory services market is categorized into seven major segments, namely, clinical chemistry, microbiology, hematology, immunology, cytology, genetic, and drugs of abuse testing. In 2017, the clinical chemistry segment is expected to command the largest share of the clinical laboratory services market. This large share can be attributed to large volume of clinical chemistry tests performed compared to other specialties, growing global disease burden of chronic and infectious disorders, and technological innovations in clinical chemistry.
Independent and reference laboratories segment is expected to grow at the highest CAGR
By provider, the clinical laboratory services market is segmented into independent and reference laboratories, hospital-based laboratories, and nursing and physician office-based laboratories. The independent and reference laboratories segment is estimated to command the largest share of the market in 2017 and is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be primarily attributed to large number of patient diagnostic tests undertaken in these labs, competitive benefits offered by these providers over hospital-based laboratories, and significant reimbursement coverage.
Europe to dominate the market
In 2017, Europe is expected to account for the largest share of the global clinical laboratory services market. Europe’s leadership position in the market can be attributed to the rising aging population, increasing prevalence of chronic disease conditions, government initiatives to promote awareness about preventive screening, and favorable reimbursement policies for laboratory tests in developed European countries.
During the forecast period, Asia-Pacific region is expected to register the highest growth rate. The high growth in the region can be attributed to the large patient population base, improving healthcare infrastructure, government initiatives to increase awareness about the preventive care and regular check-ups; and rising penetration of cutting-edge clinical laboratory technologies among healthcare providers are expected to support the growth of the Asia-Pacific clinical laboratory services market.
The clinical laboratory services market is highly competitive with the presence of several small and big players. Some of the players in the clinical laboratory services market include Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Medtronic plc (Ireland), Animas Corporation (US), Tandem Diabetes Care, Inc. (US), Sanofi (France), Biocon Ltd. (India), Eli Lilly and Company (US), and Insulet Corporation (US) Mayo Medical Laboratories (US), Laboratory Corporation of America Holdings (LabCorp) (US), Quest Diagnostics Incorporated (Quest Diagnostics) (US), Spectra Laboratories Inc. (Spectra Laboratories) (US), DaVita Healthcare Partners (Davita) (US), Eurofins Scientific (Luxembourg), Unilabs (Switzerland), SYNLAB International GmbH (SYNLAB International) (Germany), Bio-Reference Laboratories (US), Sonic Healthcare Limited (Sonic Healthcare) (UK), Clinical Reference Laboratory, Inc. (Clinical Reference Laboratory) (US), Cerba HealthCare (France), ACM Medical Laboratory (US), ADICON Clinical Laboratory (China), Amedes Holding GmbH (Amedes) (Germany); and others.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Clinical Laboratory Services Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
