Clinical Laboratory Services Market

The Clinical Laboratory Services Market is valued at USD 241.9 Billion in 2021 and is expected to reach USD 298.4 Billion by 2028 with a CAGR of 5.2% over the forecast period.

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Scope of Clinical Laboratory Services Market Report:-

Clinical laboratory services are tests provided by medical labs which help in the diagnosis and treatment of patients. This includes a public health role in the detection, prevention, and control of communicable diseases. These laboratories are manned by a medical technologist (clinical laboratory scientist) who is trained to perform various tests to sample biological specimens collected from its patients. Most of the clinical laboratories are suited within or near hospital facilities to provide easy access to both physicians and their patients.

Clinical laboratory services are almost a cost-effective, and the least invasive source of the objective information used in clinical decision-making. Clinical laboratory services have a straight impact on many aspects of patient care including, but not limited to the length of stay, patient safety, resource utilization, and customer satisfaction. Thus, the clinical laboratory professional is a crucial partner in providing patient care, and making direct improvements in the lives of patients, in the maintenance of the public's health, and in the efficacy of individual health care providers.

The global clinical laboratory services market report is segmented on the basis of type, service providers, and regional & country level. Based on type, the global clinical laboratory services market is classified as clinical chemistry, medical microbiology & cytology, human & tumor genetics, and other esoteric tests. Based upon service providers, the global clinical laboratory services market is classified into hospital-based laboratories, clinic-based laboratories, and stand-alone laboratories.

The regions covered in this clinical laboratory services market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of clinical laboratory services is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Clinical Laboratory Services Companies

Global clinical laboratory services market report covers prominent player like.

• Siemens AG
• Sonic Healthcare Limited
• Carlyle Group
• NeoGenomics, Inc.
• OPKO Health, Inc.
• Quest Diagnostics, Inc.
• Abbott Laboratories
• Cinven, Sanofi S.A.
• Novartis International AG,
• TPG Capital.

Clinical Laboratory Services Market Segmentation:-

By Type:-

• Clinical Chemistry
• Medical Microbiology & Cytology
• Human & Tumor Genetics
• Other Esoteric Tests

By Service Provider:-

• Hospital-Based Laboratories
• Clinic-Based Laboratories
• Stand-Alone Laboratories

Market Dynamics –

The clinical laboratory services market is in its developing stage due to the increasing incidence rate of diabetes, cancer, and other infectious diseases; as the number of patient pools increases and leads to foster the demand for clinical laboratory services. According to National Cancer Institute, the number of new cases of cancer is 439.2 per 100,000 men and women per year between 2011-2015 cases. The number of cancer deaths is 163.5 per 100,000 men and women per year between 2011-2015 cases. However, factors such as inadequate reimbursements, lack of skilled professionals, and stringent government policies may hinder the growth of the market. Additionally, independent laboratories are also anticipated to grow at a higher CAGR during the forecast period, due to the increase in initiatives by significant market players to introduce innovative solutions in disease detection technology have opened wider opportunities to the growth of the market.

Regional Analysis–

North America dominates the clinical laboratory services market due to the presence of key players that provide advanced test solutions and the rise in the chronic diseases-prone elderly population in this region. According to National Health Council, generally incurable and ongoing, chronic diseases affect approximately 133 million Americans, representing more than 40% of the total population of this region. By 2020, that number is projected to grow to an estimated 157 million, with 81 million having multiple conditions.

The Asia Pacific is the third-largest market for clinical laboratory services market due to the rising need for clinical laboratory services in developing countries like India and China.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2028
Market Size in 2021:	USD 241.9 Billion
Base year considered	2020
Forecast Period CAGR %:	5.2%
Market Size Expected in 2027:	USD 298.4 Billion
Tables, Charts & Figures:	175
Pages	200
Clinical Laboratory Services Companies	Siemens AG, Sonic Healthcare Limited, Carlyle Group, NeoGenomics, Inc., OPKO Health, Inc., Quest Diagnostics, Inc., Abbott Laboratories, Cinven, Sanofi S.A., Novartis International AG, TPG Capital.
Segments Covered	By Type, By Service Provider
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

Key Benefits for Clinical Laboratory Services Report–

• Global Clinical Laboratory Service report covers in-depth historical and forecast analysis.
• Global Clinical Laboratory Service research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Clinical Laboratory Services Companies, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country levels.
• Global Clinical Laboratory Services report helps to identify opportunities in the marketplace.
• Global Clinical Laboratory Services report covers extensive analysis of emerging trends and competitive landscape.

On Special Clinical Laboratory Service Market Report is also available for the below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

The Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA