Global Clinical Laboratory Test Market is valued at USD 193.3 Billion in 2021 and expected to reach USD 320.7 Billion by 2028 with a CAGR of 7.5% over the forecast period.
Global Clinical Laboratory Test Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028- Increasing prevalence of chronic diseases, rising cases of cardiovascular disease, and growing technological advancements are some of the major factors driving the growth of the Global Clinical Laboratory Test Market.
Clinical laboratory tests are a group of medical tests performed in a laboratory equipped with all aspects of laboratory medicine and equipment. These tests are performed on clinical samples to obtain information about the health of patients and the diagnosis and treatment of their respective conditions. Clinical laboratory tests refer to various medical tests conducted in laboratories using different laboratory equipment. Tests are commonly used to obtain information about a patient's health and to facilitate the diagnosis and treatment of medical conditions: are performed on clinical samples. To diagnose the disease and determine its cause, clinical laboratory tests usually require samples of urine, blood, or other body fluids from patients. Thus, these tests are important for diagnosing the disease, as well as monitoring the therapeutic response to treatment throughout the treatment period.
During Covid-19 pandemic, demand for clinical laboratory testing has increased rapidly to diagnose the disease. Clinical laboratory test play an important role to distinguish positive Covid-19 cases, beginning of treatment and management which further drive the market. Government also invest in clinical laboratory testing by early detection using these tests to control the spread of infection.
The global clinical laboratory test market is segmented on the basis of the type, test, department, service provider, and region & country level. On the basis of type, the global clinical laboratory test market is segmented into complete blood count, comprehensive metabolic panel, HGB/HCT, BUN creatinine tests, basic metabolic panel, electrolytes testing, lipid panel, HbA1c tests, and renal panel. By test, the global clinical laboratory test market is segmented into specialty and routine. By department, the global clinical laboratory test market is segmented into parasitology, urinalysis, virology, immunology/serology, hematology, histopathology, toxicology, and others. By service provider, the global clinical laboratory test market is segmented into clinic-based laboratories, hospital-based laboratories, and stand-alone laboratories.
The regions covered in the global clinical laboratory test market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. On the basis of country level, the market of global clinical laboratory test is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 193.3 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 320.7 Billion|
|Tables, Charts & Figures:||175|
|Clinical Laboratory Test Companies||Biosino Biotechnology and Science Inc., Abbott, Siemens Healthcare Private Limited, Laboratory Corporation of America Holdings (LabCorp), OPKO Health, Inc., Fresenius Medical Care, NeoGenomics Laboratories, Inc., Quest Diagnostics, Sonic Healthcare, Merck KgaA, and others.|
|Segments Covered||By Type, By Test, By Department, 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|
Some major key players for the global clinical laboratory test market report cover prominent players like Biosino Biotechnology and Science Inc., Abbott, Siemens Healthcare Private Limited, Laboratory Corporation of America Holdings (LabCorp), OPKO Health, Inc., Fresenius Medical Care, NeoGenomics Laboratories, Inc., Quest Diagnostics, Sonic Healthcare, Merck KgaA, and others.
20/20 GeneSystems Launched First Accelerator Facility for Innovative Clinical Lab Tests
On September 28th, 2021; 20/20 GeneSystems, Inc., announced the launch of its Clinical Lab Innovation Accelerator (CLIAx), the first shared CLIA laboratory facility that saves time for diagnostic testing innovators around the world. CLIAx offers approximately 3,000 square feet of usable-community clinical laboratory space and testing equipment, including a full PCR / molecular assay suite, NextGen sequencing (NGS), immunoassay, and clinical chemistry capabilities. Importantly, the 20/20 marketing and sales team helps CLIAx's clients promote new tests that 20/20 is active.
Avacta Launched SARS-CoV-2 ELISA Laboratory Test
On September 18th, 2020; Avacta Group plc announced the launch of ELISA laboratory testing for SARS-CoV-2 spike protein to support global research efforts on coronaviruses that cause COVID-19. Enzyme-linked immunosorbent assays (""""ELISAs"""") are common research tools used to find and quantify interest targets in a wide range of samples. Using the same Affimer reagents included in the rapid coronavirus saliva test being developed with Cytiva, Avacta has developed a high-efficiency ELISA laboratory test to detect the SARS-CoV-2 virus.
One of the major factors driving the growth of the clinical laboratory test market is the increasing prevalence of chronic diseases. The increasing prevalence of chronic diseases has encouraged the use of pain management therapies. Medical laboratory testing is often the starting point for care, driving correct diagnosis and early treatment for millions of patients. Especially, clinical laboratory testing has a important role in preventative care for various chronic diseases such as cardiovascular diseases, diabetic and other. Clinical laboratory testing is also an essential lifeline for cancer patients, empowering better clinical decision making at every step of the treatment process. Cancer screening considerably decreases cancer deaths, due to early recognition often goes hand-in-hand with prior treatment, a key driver of improving prognoses. Hence, rising prevalence of chronic diseases drives the clinical laboratory test market. For example; according to the Center for Disease Control (CDC); in 2020, there are about 51.8% of U.S. adults had at least 1 chronic condition, and 27.2% had multiple chronic conditions.
In addition, the rising awareness about good health and growing preference for preventive medicine are also boosting the growth of the clinical laboratory test market. Growing awareness about health issues can also help to prevent people from developing certain health problems. Awareness plays an important role in improving good health. Clinical laboratory testing plays an important role in the delivery of quality health care. A doctor or other clinician orders lab tests to analyse, treat, manage and observe a patient's condition. Preventive medicine practitioners help to ensure a healthy pregnancy and a safe work environment.
Moreover, the growing technological advancements are also augmenting the market growth. However, the high cost associated with clinical laboratory tests may hinder the growth of the global clinical laboratory test market. In spite of that, the rising investment in epidemiology of chronic diseases may create more opportunities for the further growth of the market.
North America is Expected to Dominate the Global Clinical Laboratory Test Market
Geographically, North America is expected to dominate the global clinical laboratory test market within the forecast period due to the increasing the geriatric population, rising incidences of cancer, and growing penetration of advanced diagnostic techniques I this region. Aging has become a significant risk factor for a variety of diseases, including obesity and diabetes, both of which increase the risk of disease and lead to metabolic imbalances. This is expected to increase the need for clinical laboratory testing. For instance; according to Rural Health Information Hub, in 2019; there were 46 million people aged 65 in the U.S. The number of elderly people is projected to double to 90 million by 2050. Also, the rising incidences of cancer is also boosting the market growth.
The Asia Pacific is the fastest-growing region in the global clinical laboratory test market due to increasing demand for clinical laboratories, and rising geriatric population in this region. For instance; according to The National Center for Biotechnology (NCBI); in 2019, they were 139 million people aged 65 in India and the number is anticipated to reach 158.7 million in 2025.
By Service Provider
On Special Requirement Clinical Laboratory Test Market Report is also available for the below Regions and Country:
Middle East and Africa
Key Benefits of Global Clinical Laboratory Test Market Report–