Clinical Laboratory Tests Market

Report Description
Table of Contents

Report Description

The global clinical laboratory tests market size is projected to be USD xx billion in 2021 and is expected to witness a CAGR of xx% during the forecast period. Introduction of pioneering solutions in the clinical laboratory tests market is a key driver for the growth of the global clinical laboratory tests market. Additionally, rise in demand for prompt disease detection globally and rise in global geriatric population base in the clinical laboratory tests market are some of the other drivers propelling the market growth. Nevertheless, incidence of confusing regulatory framework and lack of knowledge regarding clinical laboratory tests among developing economies are expected to restrain the global market growth.

Global Controlled Release Drug Delivery Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Type

Based on product & service, the market is segmented into electrolytes testing, complete blood count, basic metabolic panel, HGB/HCT, BUN creatinine tests, HbA1c tests, comprehensive metabolic panel, liver panel, renal panel, and lipid panel. In 2021, the basic metabolic panel segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to the increase in the occurrence of lifestyle-induced diseases, comprising of obesity and metabolic abnormalities worldwide. Liver panel segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in the disorders associated with changing lifestyle and growing consumption of tobacco and alcohol.

By End User

Based on end user, the market is segmented into primary clinics and central laboratories. In 2021, the central laboratories segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to the presence of various central laboratories such as Phoenix Lab, Q2 Solutions, CIRION BioPharma Research Inc. worldwide. Primary clinics segment projected to grow at a profitable CAGR during the forecast period. This is attributed to increase in demand for rapid test results by the patients globally.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the rise in penetration of innovative diagnostic techniques, increase in the share of healthcare expenditure in the per capita income, increase in the geriatric population, accessibility of technological advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the enhancement in healthcare infrastructure, growing government and corporate investment in healthcare sector, increasing travel tourism in the developing economies, and are the major factors in this region.

Competitor Insights

Some of the key players in the clinical laboratory tests market are Abbott Laboratories (U.S.); Associated Regional and University Pathologists, Inc. (U.S.); OPKO Health (U.S.); Bioscientia Institut für Medizinische Diagnostik GmbH (Germany); Charles River Laboratories, Inc. (U.S.); NeoGenomics, Inc. (U.S.); Genoptix, Inc. (U.S.); Healthscope (Australia); Labco S.A (France); and Laboratory Corporation of America Holdings (U.S.). The leading players operating in the clinical laboratory tests industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The clinical laboratory tests market report is categorized into the following segments and subsegments: