The
research report “Clinical Laboratory
Services Market Size By Test (Human
& Tumor Genetics, Clinical Chemistry, Medical Microbiology & Cytology,
Other Esoteric Test), By Service Provider (Hospitals, Stand-Alone Laboratories,
Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany,
UK, Japan, China, Brazil, Mexico, South Africa), Application Potential, Price
Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market
Insights, Inc. says, Clinical Laboratory Services Market size is estimated to
reach USD 342.3 billion by 2024.
Growing
importance of early diagnosis of chronic diseases related to oncology,
gynaecology and endocrinology should drive global market size. Moreover,
introduction of technologically advanced products rendering accurate and rapid
results should spur industry growth over the forecast years.
Increased
adoption of laboratory automations and robot assisted laboratory techniques
such as TECAN liquid handling robotics will spur growth. For instance, over 30% of laboratories in
North America, Europe and Japan have implemented a significant degree of
laboratory automation. Additionally, growing use of healthcare IT systems have
enabled implementation of technologically advanced processes.
Introduction
of innovative solutions that allows implementation of informatics and data
management systems to perform rapid and seamless operations with accurate
clinical results with higher efficiency will accelerate industry growth.
Browse key industry insights spread across 110 pages with
33 market data tables & 10 figures & charts from the report Clinical Laboratory Services in detail along with
the table of contents:
Chemistry
segment held the largest market share with revenue slated to exceed USD 152
billion by 2024. Increasing prevalence of cardiovascular, diabetes, liver &
kidney disorders coupled with growing awareness for early diagnosis will spur
industry growth.
U.S.
held the largest share owing to high patient awareness and presence of large
test volumes. APAC and LATAM will provide lucrative growth opportunities to
industry players with introduction of regulatory standards to encourage the use
of clinical laboratory services in these regions. Accounting for over one third
of the global population, India and China are eyed upon as potential business
hubs for clinical laboratory testing service providers.
The
key industry players include Quest Diagnostics, Sonic Healthcare, LabCorp,
Genoptix Medical Laboratory, Healthscope, Labco, Charles River Laboratories and
Bio-Reference Laboratories, Abbott Laboratories. The key strategies of mergers
and acquisitions and strategic collaborations will enable industry players to
strengthen their regional presence.
Global
clinical laboratory services market is estimated reach USD 342.3 billion by
2024, from 196.9 billion in 2015, at an estimated CAGR of 6.4% from 2016 to
2024.
Clinical
chemistry segment dominated the industry with revenue share of 47% in 2015 and
anticipated to exceed USD 152 billion by 2024. Hospital-based laboratories were
the largest service provider segment with revenue of over USD 113 billion in
2015.
Stand-alone
laboratories segment with over USD 73 billion in 2015, is slated to witness
highest CAGR of 7% during forecast frame, attributed to extensive range of
tests offered by these labs, and ability to handle large test volumes.
Europe
market size was dominated by Germany and UK collectively accounting for 27% of
the revenue share of Europe market in 2015.
Industry
rivalry is expected to be moderately high during forecast period due to number
of large players operating in the market via extensive product portfolio, wide geographical
presence, and long term contract with healthcare establishments. Also, the
presence of local manufacturers marketing products at relatively low prices is
expected to intensify the rivalry.
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Report, Regional Outlook (U.S., Canada, Germany, UK, France, Poland, Russia,
China, India, Japan, South Korea, Taiwan, Brazil, Mexico, South Africa), Growth
Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
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