Clinical Laboratory Industry Is Extrapolated To Reach A Value Of USD 493.72 Billion By 2030Posted by rahul nikade on April 26th, 2023 Clinical Laboratory Industry Data Book Covers Clinical Laboratory Tests and Clinical Laboratory Service Markets. The global clinical laboratory markets combine to account for USD 321.20 billion in revenue in 2022, which is expected to reach USD 493.72 billion by 2030, growing at a cumulative rate of 5.52% over the forecast period. Grand View Research’s clinical laboratory industry data book is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research. Clinical Laboratory Tests Market Insights The global clinical laboratory tests market size was estimated at USD 103.67 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. The HbA1c tests segment held the largest share of market in 2022. The rise in the patient population with diabetes and cholesterol abnormalities is anticipated to propel segment growth, as patients with fluctuations in HbA1c face an increased risk of complications related to diabetes. Moreover, the launch of newer laboratory tests is expected to further propel the market growth. The primary clinics segment held the largest share of the clinical laboratory tests market in 2022. Primary clinics include standalone laboratories, laboratories in physician clinics & primary healthcare centers receiving samples directly from physicians, clinical research centers, and insurance companies. The test is made available to patients immediately with ease and the result is obtained quickly by the care team, physician, and patients, enabling them to take clinical management decisions spontaneously. Access the Global Clinical Laboratory Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies Clinical Laboratory Service Market Insights The global clinical laboratory service market size was estimated at USD 217.53 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.2% from 2023 to 2030. The clinical chemistry segment accounted for the largest revenue share of more than 55.00% in 2022. The dominance of the segment is attributed to the presence of numerous clinical chemistry tests involved in the pathology analysis of body fluids, including analysis of urine, plasma, serum, and other body fluids. Increasing automation to enhance customer experience is gaining traction in the segment. The human & tumor genetics tests segment is expected to register the fastest CAGR of 6.8% during the forecast period. This can be attributed to a rise in intensive research activities on genetic & proteomic studies, in the context of hereditary & gene-mutation-related disorders. The hospital-based laboratories segment held the largest revenue share of more than 53.7 in 2022 and is expected to grow at the fastest CAGR over the forecast period. This is attributed to the high turnaround number of patients’ tests majorly for complex and severe disease conditions that are comparatively more cost-intensive. It is expected to maintain its dominance owing to the increasing number of hospitals integrating laboratories into their premises. This would help in increasing patient access to laboratory services. The standalone laboratories segment is expected to show a steady CAGR of 2.2% over the forecast period due to efforts to improve patient outcomes by providing diagnostic facilities at the retail level. The bioanalytical & lab chemistry services segment accounted for the largest revenue share of more than 52.0% in 2022. Bioanalytical & lab chemistry laboratories use a wide range of techniques and technology platforms to fulfill diagnostic needs. ELISA, chromatography, immunochemistry, mass spectroscopy, and molecular biology are the most commonly used technologies in bioanalytical & lab chemistry applications. Clinical Laboratory Market – Global Industry Segmentation Clinical Laboratory Industry, By Clinical Laboratory Tests
Clinical Laboratory Industry, By Clinical Laboratory Service
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Clinical Laboratory Industry Data Book Competitive Landscape Competitive rivalry in this market is to be high due to a large number of service providers, increasing number of contract research organizations, and high R&D investment to develop novel tests for different healthcare applications. Key players operating in the clinical laboratory industry are –
Go through the table of content of Clinical Laboratory Industry Data Book to get a better understanding of the Coverage & Scope of the study About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Like it? Share it! More by this author |