Clinical Chemistry Market is valued at USD 6.38 Billion in 2020 and is expected to reach USD 10.10 Billion by 2027 with a CAGR of 6.8% over the forecast period.
The Detailed Market intelligence report on the Clinical Chemistry Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate the Clinical Chemistry Market place for the forecast 2021– 2027.
Clinical chemistry refers to healthcare & molecular diagnosis and genetics system designed specifically to assist clinical decision support for healthcare professionals, laboratory researchers, pathologists, and general physicians. Evidence-based laboratory medicine and test utilization have gain significant demand in drug monitoring, toxicology and hematology for laboratory management systems with the support of clinical research. It is the method of analysis of body fluids in a clinical pathology lab for therapeutic, diagnosis, hemostasis and thrombosis processes used in hospitals. All biochemical tests come under chemical pathology which can be performed on any kind of body fluid like serum or plasma.
Clinical chemistry has a wide scope in endocrinology and metabolism, clinical immunology; Nutrition monitoring & regulatory system, whereas endocrinology is the study of biosynthesis, storage, biochemical and physiological functions of hormones, cells, and tissues of glands. It has wide applications in urine analysis, fecal analysis, and therapeutic drug monitoring. Various types of analyzers are used in identifying and performing the different tests for clinical chemistry investigation.
Global clinical chemistry report is segmented on the basis of product type, type of test, and regional & country level. Based on product type, global clinical chemistry is classified as the reagent, semi-automatic analyzer, and fully automatic analyzer. Based upon the type of test, the market is classified as blood testing, urine analysis, lipid profile and diagnosis of genetic & hematological diseases and others.
The regions covered in this Clinical Chemistry report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of Clinical Chemistry is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global clinical chemistry report covers prominent players like,
The rapidly increasing number of diabetic patients, growing prevalence of chronic diseases, and various cardiovascular diseases are expected to boost the demand for clinical chemistry solutions and hence foster market growth. According to the world health organization (WHO), the burden of chronic diseases is rapidly increasing worldwide. The proportion of the burden of non-communicable diseases (NCDs) is expected to increase to 57% by 2020. Also, according to a survey by the Centers for Disease Control and Prevention (CDCP), the growth of diabetes patients is increased by 8.7% from 2016 to the 2017 year.
In addition, increasing aging population is also supplementing the demand for clinical chemistry. For example; as per a study Published by the United Nations; the global population aged 60 years or over numbered 962 million in 2017, more than twice as large as in 1980 when there were 382 million older persons worldwide. The number of older persons is expected to double again by 2050, when it is projected to reach nearly 2.1 billion. One of the major challenges faced by this market is its high cost of equipment required for testing and it requires highly skilled laboratory pathologists to operate for precise diagnosis or results may hampers the growth of the clinical chemistry market.
The clinical laboratory is being highly developed & growing technologically advanced treatment and research platforms for the diagnosis of diseases has created enormous opportunities for the growth of the clinical chemistry market. By Beckman Coulter Diagnostics, the new model DxC 700 AU chemistry analyzer has been introduced to reduce the number of test processes required by 30% which significantly used by laboratory professionals for laboratory clinical research. Increasing technological advancements in this field can provide various opportunities for the further growth of the market.
North America is dominating the clinical chemistry market due to the increasing advancements in science and technology for the clinical laboratory in this region. In addition, highly developed healthcare infrastructure and high adoption of advanced healthcare products in this region are also driving the market growth. According to the pathology workforce in the U.S. by 2016, the pathologist’s time required to analyze and do the clinical research has been reduced by 0.5 hours for large gene-panel analyses and 2 hours for exome analyses due to the implementation of advanced software. According to the Department of Pathology in New York, US accounts for about 16.5% growth for improving their GDP which ranks 1st in healthcare spending worldwide followed by Canada with 10.2%.
The Asia Pacific is expected to emerge as the fastest-growing regional market due to rapidly increasing patient pool and growing need for clinical research for managing the increasing patient population. Furthermore, increasing collaboration between healthcare institutions and information technology companies for developing new systems is expected to boost the growth of clinical decision support systems in this region.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 6.38 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 10.10 Billion|
|Tables, Charts & Figures:||175|
|Clinical Chemistry Manufacturers||Roche Diagnostics, Siemens AG, Thermo Fisher Scientific, Alere, Bio-Reference Laboratories, SYNLAB International GMBH, Abbott Diagnostics, Beckman Coulter, Elitech Group, Horiba Ltd., Johnson & Johnson, others.|
|Segments Covered||By Product Type, By Type of Test|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa