Clinical Laboratory Services - Global Market Outlook (2017-2023)
According to Stratistics MRC, the Global Clinical Laboratory Services market is estimated at $205.56 billion in 2016 and is expected to reach $333.45 billion by 2023 growing at a CAGR of 7.1% from 2016 to 2023. The growing aging population, introduction of technologically advanced products and increasing the pace of R&D for new products are some factors boosting the market growth. In addition, growing numbers of FDA approvals for new diagnostics procedures will result in vendors focusing on the launch of new, time-saving, and cost-effective diagnostics procedures to increase their market shares. However, factors such as inadequate reimbursements and stringent government policies are restricting the market growth.
Amongst Test Type, clinical chemistry segment held the largest market share during the forecast period. The growth for this segment is owing to increase in demand for early disease diagnosis due to increasing occurrence of target diseases such as cardiovascular, diabetes, liver & kidney disorders and blood disorders. By service providers, stand-alone laboratories segment acquired the largest market share in the global market due to the wide range of tests offered by these labs, the presence of a new range of condition-specific markers and tests with advances in genomics & proteomics. In North America, U.S. registered the largest share during the forecast period. The factors responsible to largest regional share include presence of large test volumes and growing acceptance of sophisticated diagnostic technologies.
Some of the key players in the market include Spectra Laboratories, Sonic Healthcare Ltd., Siemens, Quest Diagnostics, Qiagen, Laboratory Corporation Of America Holdings (LabCorp), Labco S.A, Healthscope Ltd., Genzyme, Genoptix Medical Laboratory, Clarient, Inc., Charles River Laboratories, Inc., Bioscientia Healthcare, Bio-Reference Laboratories, ARUP Laboratories (Associated Regional & University Pathologists Inc.) and Abbott Laboratories.
Test Types Covered:
• Medical Microbiology & Cytology
• Clinical Chemistry
• Human Genetics
• Tumor Genetics
• Other Esoteric Tests
• Toxicology Testing Services
• Drug Discovery and Development Related Services
• Bioanalytical & Lab Chemistry Services
• Preclinical & Clinical Trial Related Services
• Cell & Gene Therapy Related Services
• Other Applications
Service Providers Covered:
• Clinic-Based Laboratories
• Contract Research Organization (CRO)
• Hospital-Based Laboratories
• Stand-Alone Laboratories
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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