The global clinical laboratory services market size is
expected to reach USD 326.97 billion by 2025 and is projected to grow at a CAGR
of 6.4%, according to a new report by Grand View Research, Inc. Improvement in
database management tools, introduction of integrated workflow management
systems, and wide acceptance of Point-of-Care (PoC) testing solutions are some
of the key factors driving the market.
Unmet medical needs pertaining to disease
management along with subsequent rise in patient awareness levels is also
expected to spur the market growth. Furthermore, presence of effective
regulatory structure to oversight the laboratory operations will have a positive
impact on the market expansion. Clinical laboratories are enforced to meet the
standards and guidelines established by CLIA. This results in safe and
effective implementation of clinical workflows to improve patient outcome,
thereby driving the demand for clinical laboratory services. Market
participants have undertaken several strategies to strengthen their industry
position.
For instance, in February 2019 Quest
Diagnostics acquired clinical laboratory services business segment of the Boyce
& Bynum Pathology Laboratories (BBPL). Through this acquisition, BBPL is
expected to be an exclusive provider of pathology products to Quest
Diagnostics. In addition, in February 2019, RenalytixAI partnered with
AKESOgen, which offers clinical laboratory services. Both of the companies will
provide their products under one manufacturer as RENX AI Labs, LLC. With this
partnership RenalytixAI aims to expand its contract research and clinical
diagnostic business segment.
For full research report on Clinical
Laboratory Services Market visit here: https://www.grandviewresearch.com/industry-analysis/clinical-laboratory-services-market
Further key
findings from the study suggest:
- Clinical chemistry services accounted for the
largest market share in 2018 owing to wide usage of chemical tests during
the screening of disease
- Medical microbiology & cytology vertical
is estimated to witness the highest CAGR due to growing incidence of
fungal, viral, and other infections
- Stand-alone labs segment will expand at the
highest CAGR owing to the ability of these labs to manage a large volume
of diagnostic tests with the integration of digital workflow
- North America is the leading regional market
due to the high penetration of novel diagnostic techniques
- Several service providers from western
countries are investing to expand their businesses in Asian countries
owing to numerous untapped opportunities
- APAC is projected to be the fastest-growing
regional market owing to numerous untapped growth opportunities in medical
research and presence of low-cost production facilities in the region
- Some of the key market participants are Abbott
Laboratories, Quest Diagnostics, Siemens AG, Laboratory Corporation of
America Holdings, Charles River Laboratories
- Most of these companies focus on establishing
mutually beneficial alliances with others companies as well as healthcare
organizations to scale up their product portfolio
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/clinical-laboratory-services-market/request/rs1
Grand
View Research has segmented the global clinical laboratory services market on
the basis of test type, service provider, and region:
Clinical
Laboratory Services Test Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Clinical Chemistry
- Human & Tumor
Genetics
- Medical Microbiology
& Cytology
- Other Esoteric Tests
Clinical
Laboratory Service Provider Outlook (Revenue, USD Billion, 2014 - 2025)
- Hospital-based
Laboratories
- Stand-alone
Laboratories
- Clinics-based
Laboratories
Clinical
Laboratory Services Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
No comments:
Post a Comment