Clinical Laboratory Services Market Competition Landscape And Growth Opportunity till 2025
May 31, 2021: The global Clinical Laboratory Services Market is expected to witness a substantial growth in the years to come. This could be attributed to technical advancements with regards to medical laboratory services. Plus, loads of infectious ailments are coming up; which may result in increase in mortality and morbidity if not detected on time. Clinical laboratory services help in checking this catastrophe. This is another factor driving the market in the near future.
Increase in geriatric population outcomes in weak immune system. This will also affect the clinical laboratory services market on positive grounds. Besides, governments in developed economies like the U.S., Belgium, and Denmark do put healthcare at the top pedestal. At the same time, there are economies having ambivalent regulatory framework are likely to impede the market in the next 5-7 years.
The clinical laboratory services industry is segmented based on type of test, service provider, and geography. By type of test, the segmentation spans medical microbiology & cytology, clinical chemistry, human & tumor genetics, and the other esoteric tests. By service provider, the market could span clinic-based laboratories, stand-alone laboratories, and hospital-based laboratories.
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By geography, the clinical laboratory services market comprises North America (Canada, U.), Europe (Italy, Spain, France, UK, and France), Asia Pacific (India, Australia, China, and Japan), LATAM (Mexico, Brazil), and MEA (Saudi Arabia, South Africa). Asia Pacific’s market is projected to grow by leaps and bounds owing to considerable efforts taken by the governments in enhancing lab services herein. North America and Europe have already attained saturation with respect to clinical laboratory services.
The players contributing to the clinical laboratory services market include Arup laboratories, Genzyme, Laboratory Corporation of America Holdings, Sonic Healthcare, Siemens, Quest Diagnostics, NeoGenomics laboratories, Fullerton Health, Abbott, Opko Health, Fresenius Medical Care, Charles River laboratories, Qiagen, and Genoptix Medical laboratory. Inorganic growth is on the anvil. For example – NeoGenomics, in Jul 2019, opened novel pharma services laboratory in Singapore. With PPD (Pharmaceutical Product Development, LLC). Way back in Jul 2017, Arup Laboratories inked a partnership with IDbyDNA for developing next-generation sequencing infectious disease testing. The partnership did introduce genomic technology all over clinical practices.
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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
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
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