Clinical Laboratory Services Market
PUBLISHED: 2022 ID: SMRC21654
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Clinical Laboratory Services Market

Clinical Laboratory Services Market Forecasts to 2028 - Global Analysis By Laboratory Type (Hospital, Commercial), Specialty (Hematology, Clinical Chemistry), Application, and By Geography

4.5 (54 reviews)
4.5 (54 reviews)
Published: 2022 ID: SMRC21654

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $219.57 BN

Projected Year Value (2028)

US $324.01 BN

CAGR (2022 - 2028)

6.7%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Clinical Laboratory Services Market is accounted for $219.57 billion in 2022 and is expected to reach $324.01 billion by 2028 growing at a CAGR of 6.7% during the forecast period. Clinical laboratory service is to detect and monitor the test results done on specimens from the body like urine or blood of the patient and provide them with appropriate treatment. A clinical laboratory has a crucial role in the healthcare system as it provides a wide range of services, including the diagnosis, treatment, prevention, and management of patients.

The increasing occurrence of targeted diseases, cardiovascular diseases, such as diabetes, high blood pressure, and lipid disorders are caused due to sedentary lifestyle and unhealthy food consumption. As per the World Health Organization (WHO), in 2018, about 1.5 million people died of tuberculosis, and it is one of the top ten causes of death across the globe. The number of people suffering from diabetes has increased from 108 million in 1980 to 422 million in 2014.



Market Dynamics:

Driver:

Rising awareness among people regarding early diagnosis

Early diagnosis of diseases such as cancer, infection, or others can essentially increase the possibilities of effective treatment at the beginning phase. So, it is one of the important public health strategies. Various governments and global associations started various initiatives to generate awareness regarding early diagnosis. Additionally, different emerging ailments have the potential to cause substantial morbidity, mortality, and economic damage. Efforts undertaken by the governments in the prevention of emerging ailments are expected to fuel the market size during the forecast timeline.

Restraint:

Lack of diagnostic tests

Pricing pressure faced by medical services payers and suppliers and procedural shift from lab-based diagnosis to home-based/point-of-care testing procedures is likely to restrain the growth of the market during the forecast period. It would also have a considerable impact on the profit margins due to the additional costs and possible delays in introducing newly developed tests.

Opportunity:

Rising adoption of automated technologies

The rising adoption of automated technologies to improve efficiency and reduce cost is likely to augment the growth of the market. The introduction of accurate and technologically advanced products, such as companion diagnostics, biochips, and microarrays, has bolstered the demand for early disease detection. The key players in the industry are introducing new services in the market to serve the patients, which in turn provide ample opportunities for market growth.

Threat:

Lack of skilled professionals

Testing and diagnostics are troublesome and require trained professionals. In 2020, owing to the COVID-19 pandemic, many healthcare professionals and lab professionals were affected. This generated a huge shortage of lab professionals and it was quite difficult to generate accurate data. Thus, skilled professionals are required by clinical laboratories to flourish in the coming years.

The stand-alone laboratories segment is expected to be the largest during the forecast period

The stand-alone laboratories segment is estimated to have a lucrative growth owing to the increasing pervasiveness of rare genetic disorders positively influencing technologically advanced stand-alone laboratories. Stand-alone laboratories are proficient to perform different genetic disease testing because of accessibility to advanced diagnostics devices for accurate and efficient detection.

The human and tumor genetic testing segment is expected to have the highest CAGR during the forecast period

The human and tumor genetic testing segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the high prevalence of cancer and tumor cases in the population poised to upsurge the industry progression for clinical laboratory tests. Likewise, the availability of analytical instruments quantifies various types of cancer which enables diagnostic decisions and better surgical performance, thereby augmenting the segment growth.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the increasing prevalence of chronic diseases, growing healthcare expenditure, technological advancements in clinical testing techniques, favorable regulatory policies, and supportive reimbursement policies. Furthermore, the presence of a large number of laboratories and ease of diagnosis in this region are also driving the market growth

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period due to the rising healthcare expenditure, increasing number of hospitals and clinical diagnostic laboratories in India and China, and strengthening research base for clinical laboratory testing procedures across India, China, and Japan.



Key players in the market

Some of the key players profiled in the Clinical Laboratory Services Market include Sonic Healthcare, Viapath, Spectra Laboratories, ACM Global Laboratories, BioReference Laboratories, Quest Diagnostics, Clinical Reference Laboratory, OPKO Health, Inc., NeoGenomics Laboratories, Eurofins Scientific, Labcorp, Fresenius Medical Care, Myriad Genetics, Charles River Laboratories, QIAGEN, Mindray, Bio-Rad Laboratories, Deep Bio, Siemens Healthineers, and Abbott Laboratories.

Key Developments:

In March 2022, Mindray launched the new BC-700 Series, a revolutionary hematology analyzer series that incorporates both complete blood count (CBC) and erythrocyte sedimentation rate (ESR) tests. This series, including two open vial models BC-700/BC-720 and two autoloader models BC-760/BC-780, is designed to empower medium-volume laboratories with advanced diagnostics technologies that are applied in the premium products.

In July 2021, Deep Bio announced a research collaboration agreement with ARUP Laboratories. This Collaboration is benefitted the company in terms of usage of artificial intelligence in diagnostics of cancer. DeepDx® Prostate, Deep Bio’s AI-based prostate cancer diagnosis software, will be used for the joint research. This is the first of multiple research projects that ARUP and Deep Bio will collaborate on under the multiyear research program.
 
Laboratory Types Covered:
• Hospital
• Commercial
 
Service Providers Covered:
• Stand-Alone Laboratories
• Nursing and Physician Office-Based Laboratories
• Independent/Private and Reference Laboratories
• Hospital-Based Laboratories
• Contract Research Organizations (CROs) 
• Clinic-Based Laboratories
 
Specialties Covered:
• Medical Microbiology Testing
• Hematology Testing
• Human and Tumor Genetic Testing
• Immunology Testing/Immunochemistry
• Cytology and Histology Testing
• Clinical Chemistry Testing
• Biochemistry
• Esoteric Tests
• Food Intolerance Test
• Histopathology & Anatomic Pathology Services
• Urinalysis
• Other Specialties
 
Products Covered:
• Instruments
• Reagents
• Services
 
Ownerships Covered:
• Private
• Public
 
Applications Covered:
• Toxicology Testing Services (Drug of Abuse Testing)
• Preclinical & Clinical Trial Related Services
• Drug Discovery & Development Related Services
• Cell & Gene Therapy Related Services
• Bioanalytical & Lab Chemistry Services

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- 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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

Table of Contents

1 Executive Summary            
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 Product Analysis            
 3.7 Application Analysis          
 3.8 Emerging Markets           
 3.9 Impact of Covid-19           
              
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
              
5 Global Clinical Laboratory Services Market, By Laboratory Type       
 5.1 Introduction           
 5.2 Hospital             
 5.3 Commercial            
              
6 Global Clinical Laboratory Services Market, By Service Provider       
 6.1 Introduction           
 6.2 Stand-Alone Laboratories          
 6.3 Nursing and Physician Office-Based Laboratories        
 6.4 Independent/Private and Reference Laboratories        
 6.5 Hospital-Based Laboratories          
 6.6 Contract Research Organizations (CROs)           
 6.7 Clinic-Based Laboratories          
              
7 Global Clinical Laboratory Services Market, By Specialty        
 7.1 Introduction           
 7.2 Medical Microbiology Testing          
  7.2.1 Andrology          
  7.2.2 Blood Bank/ Transfusion Medicine        
  7.2.3 Human Leukocyte Antigen (HLA) Typing        
  7.2.4 Infectious Diseases Testing         
  7.2.5 Transplant Diagnostic Testing         
 7.3 Hematology Testing           
  7.3.1 Coagulation Testing          
  7.3.2 Routine Hematology Testing         
  7.3.3 Specialized Hematology Testing        
 7.4 Human and Tumor Genetic Testing          
 7.5 Immunology Testing/Immunochemistry         
 7.6 Cytology and Histology Testing         
 7.7 Clinical Chemistry Testing          
  7.7.1 Endocrinology Chemistry Testing         
  7.7.2 Routine Chemistry Testing         
  7.7.3 Specialized Chemistry Testing          
  7.7.4 Therapeutic Drug Monitoring (TDM) Testing       
 7.8 Biochemistry            
 7.9 Esoteric Tests           
 7.10 Food Intolerance Test          
 7.11 Histopathology & Anatomic Pathology Services        
 7.12 Urinalysis           
 7.13 Other Specialties           
  7.13.1 Hair Testing           
  7.13.2 Oral Fluid Testing           
              
8 Global Clinical Laboratory Services Market, By Product        

 8.1 Introduction           
 8.2 Instruments           
 8.3 Reagents            
 8.4 Services            
              
9 Global Clinical Laboratory Services Market, By Ownership        
 9.1 Introduction           
 9.2 Private            
 9.3 Public            
              
10 Global Clinical Laboratory Services Market, By Application        
 10.1 Introduction           
 10.2 Toxicology Testing Services (Drug of Abuse Testing)       
 10.3 Preclinical & Clinical Trial Related Services         
 10.4 Drug Discovery & Development Related Services         
 10.5 Cell & Gene Therapy Related Services         
 10.6 Bioanalytical & Lab Chemistry Services         
              
11 Global Clinical Laboratory Services Market, By Geography         
 11.1 Introduction           
 11.2 North America           
  11.2.1 US           
  11.2.2 Canada           
  11.2.3 Mexico           
 11.3 Europe            
  11.3.1 Germany           
  11.3.2 UK           
  11.3.3 Italy           
  11.3.4 France           
  11.3.5 Spain           
  11.3.6 Rest of Europe          
 11.4 Asia Pacific           
  11.4.1 Japan           
  11.4.2 China           
  11.4.3 India           
  11.4.4 Australia           
  11.4.5 New Zealand           
  11.4.6 South Korea          
  11.4.7 Rest of Asia Pacific          
 11.5 South America           
  11.5.1 Argentina          
  11.5.2 Brazil           
  11.5.3 Chile           
  11.5.4 Rest of South America         
 11.6 Middle East & Africa          
  11.6.1 Saudi Arabia          
  11.6.2 UAE           
  11.6.3 Qatar           
  11.6.4 South Africa          
  11.6.5 Rest of Middle East & Africa         
              
12 Key Developments            
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 12.2 Acquisitions & Mergers          
 12.3 New Product Launch          
 12.4 Expansions           
 12.5 Other Key Strategies          
              
13 Company Profiling            
 13.1 Sonic Healthcare           
 13.2 Viapath            
 13.3 Spectra Laboratories          
 13.4 ACM Global Laboratories          
 13.5 BioReference Laboratories          
 13.6 Quest Diagnostics           
 13.7 Clinical Reference Laboratory          
 13.8 OPKO Health, Inc.           
 13.9 NeoGenomics Laboratories          
 13.10 Eurofins Scientific           
 13.11 Labcorp            
 13.12 Fresenius Medical Care          
 13.13 Myriad Genetics           
 13.14 Charles River Laboratories           
 13.15 QIAGEN            
 13.16 Mindray            
 13.17 Bio-Rad Laboratories          
 13.18 Deep Bio            
 13.19 Siemens Healthineers          
 13.20 Abbott Laboratories           
              
List of Tables             
1 Global Clinical Laboratory Services Market Outlook, By Region (2020-2028) ($MN)      
2 Global Clinical Laboratory Services Market Outlook, By Laboratory Type (2020-2028) ($MN)     
3 Global Clinical Laboratory Services Market Outlook, By Hospital (2020-2028) ($MN)      
4 Global Clinical Laboratory Services Market Outlook, By Commercial (2020-2028) ($MN)     
5 Global Clinical Laboratory Services Market Outlook, By Service Provider (2020-2028) ($MN)     
6 Global Clinical Laboratory Services Market Outlook, By Stand-Alone Laboratories (2020-2028) ($MN)    
7 Global Clinical Laboratory Services Market Outlook, By Nursing and Physician Office-Based Laboratories (2020-2028) ($MN)  
8 Global Clinical Laboratory Services Market Outlook, By Independent/Private and Reference Laboratories (2020-2028) ($MN)  
9 Global Clinical Laboratory Services Market Outlook, By Hospital-Based Laboratories (2020-2028) ($MN)    
10 Global Clinical Laboratory Services Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)   
11 Global Clinical Laboratory Services Market Outlook, By Clinic-Based Laboratories (2020-2028) ($MN)    
12 Global Clinical Laboratory Services Market Outlook, By Specialty (2020-2028) ($MN)     
13 Global Clinical Laboratory Services Market Outlook, By Medical Microbiology Testing (2020-2028) ($MN)    
14 Global Clinical Laboratory Services Market Outlook, By Andrology (2020-2028) ($MN)     
15 Global Clinical Laboratory Services Market Outlook, By Blood Bank/ Transfusion Medicine (2020-2028) ($MN)   
16 Global Clinical Laboratory Services Market Outlook, By Human Leukocyte Antigen (HLA) Typing (2020-2028) ($MN)   
17 Global Clinical Laboratory Services Market Outlook, By Infectious Diseases Testing (2020-2028) ($MN)    
18 Global Clinical Laboratory Services Market Outlook, By Transplant Diagnostic Testing (2020-2028) ($MN)    
19 Global Clinical Laboratory Services Market Outlook, By Hematology Testing (2020-2028) ($MN)    
20 Global Clinical Laboratory Services Market Outlook, By Coagulation Testing (2020-2028) ($MN)    
21 Global Clinical Laboratory Services Market Outlook, By Routine Hematology Testing (2020-2028) ($MN)    
22 Global Clinical Laboratory Services Market Outlook, By Specialized Hematology Testing (2020-2028) ($MN)   
23 Global Clinical Laboratory Services Market Outlook, By Human and Tumor Genetic Testing (2020-2028) ($MN)   
24 Global Clinical Laboratory Services Market Outlook, By Immunology Testing/Immunochemistry (2020-2028) ($MN)   
25 Global Clinical Laboratory Services Market Outlook, By Cytology and Histology Testing (2020-2028) ($MN)   
26 Global Clinical Laboratory Services Market Outlook, By Clinical Chemistry Testing (2020-2028) ($MN)    
27 Global Clinical Laboratory Services Market Outlook, By Endocrinology Chemistry Testing (2020-2028) ($MN)   
28 Global Clinical Laboratory Services Market Outlook, By Routine Chemistry Testing (2020-2028) ($MN)    
29 Global Clinical Laboratory Services Market Outlook, By Specialized Chemistry Testing (2020-2028) ($MN)   
30 Global Clinical Laboratory Services Market Outlook, By Therapeutic Drug Monitoring (TDM) Testing (2020-2028) ($MN)  
31 Global Clinical Laboratory Services Market Outlook, By Biochemistry (2020-2028) ($MN)     
32 Global Clinical Laboratory Services Market Outlook, By Esoteric Tests (2020-2028) ($MN)     
33 Global Clinical Laboratory Services Market Outlook, By Food Intolerance Test (2020-2028) ($MN)    
34 Global Clinical Laboratory Services Market Outlook, By Histopathology & Anatomic Pathology Services (2020-2028) ($MN)  
35 Global Clinical Laboratory Services Market Outlook, By Urinalysis (2020-2028) ($MN)     
36 Global Clinical Laboratory Services Market Outlook, By Other Specialties (2020-2028) ($MN)     
37 Global Clinical Laboratory Services Market Outlook, By Hair Testing (2020-2028) ($MN)     
38 Global Clinical Laboratory Services Market Outlook, By Oral Fluid Testing (2020-2028) ($MN)     
39 Global Clinical Laboratory Services Market Outlook, By Product (2020-2028) ($MN)      
40 Global Clinical Laboratory Services Market Outlook, By Instruments (2020-2028) ($MN)     
41 Global Clinical Laboratory Services Market Outlook, By Reagents (2020-2028) ($MN)     
42 Global Clinical Laboratory Services Market Outlook, By Services (2020-2028) ($MN)      
43 Global Clinical Laboratory Services Market Outlook, By Ownership (2020-2028) ($MN)     
44 Global Clinical Laboratory Services Market Outlook, By Private (2020-2028) ($MN)      
45 Global Clinical Laboratory Services Market Outlook, By Public (2020-2028) ($MN)      
46 Global Clinical Laboratory Services Market Outlook, By Application (2020-2028) ($MN)     
47 Global Clinical Laboratory Services Market Outlook, By Toxicology Testing Services (Drug of Abuse Testing) (2020-2028) ($MN) 
48 Global Clinical Laboratory Services Market Outlook, By Preclinical & Clinical Trial Related Services (2020-2028) ($MN)  
49 Global Clinical Laboratory Services Market Outlook, By Drug Discovery & Development Related Services (2020-2028) ($MN)  
50 Global Clinical Laboratory Services Market Outlook, By Cell & Gene Therapy Related Services (2020-2028) ($MN)   
51 Global Clinical Laboratory Services Market Outlook, By Bioanalytical & Lab Chemistry Services (2020-2028) ($MN)   
               
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
              
     

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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