The global clinical laboratory services market size was exhibited at USD 213.8 billion in 2022 and it is expected to hold around USD 293.6 billion by 2030, growing at a CAGR of 4.04% from 2022 to 2030.

Clinical laboratory services are related to lab tests. It includes specimen collection supplies, information detailing, laboratory test requisitioning and ordering, specimen collection and accessioning, etc. It is requested by the customer or a patient to be performed from time to time. In a laboratory, tests are carried out on clinical specimens to get information about the patient’s health. It is used to help diagnose, treat, and prevent disease. It offers a variety of testing services.

Clinical laboratory services help in performing any medical tests or procedures. It is conducted in a controlled environment. Hospitals are the main contributors to clinical laboratory services. clinical laboratory services help physicians diagnose, treat and manage patients efficiently. These are crucial aspects of healthcare decision-making and play an essential role in developing a treatment for patients.

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Growth Factors

The outbreak of COVID-19 is expected to impact the clinical laboratory services market positively. The pandemic boosted the market. In line with this, clinical diagnostics and testing technology improvements catalyze market growth. The rising incidences of chronic and infectious diseases primarily drive the market. The surging demand for early disease diagnosis significantly contributes to global market growth. The burden of infectious diseases and chronic disorders is increasing, so the need for clinical laboratory services is accelerating. The growing burden of diseases such as cancer and tuberculosis (TB) propels the market.

The increasing cases of cancer significantly contribute to the market growth. Rapid technological advancements and the rising burden of target diseases catalyze market growth. The launch of technologically advanced products creates a positive outlook for the market. The increasing awareness of the early diagnosis of disorders significantly contributes to market growth. The industry is witnessing growth due to the growing burden of chronic diseases. Rapid advancements in data management create a positive outlook for the market. The surging volumes of testing samples positively influence the market growth. There was a rise in the number of people suffering from COVID-19. This has raised the need for rapid testing. Clinical laboratory services are utilized for the detection of various substances. Advancements in technology catalyze market growth.

Clinical Laboratory Services Market Report Scope

Report Highlights:

• Based on the test type, clinical chemistry dominated the market and accounted for the largest revenue share. This is due to the presence of many clinical chemistry tests. It plays a vital role in basic-level diagnosis and laboratory testing. Increasing automation creates a positive outlook for the market. The human & tumor genetics tests are expected to witness a promising CAGR in the coming years. This is due to the increasing research activities on gene-mutation-related disorders. The rising demand for personalized care propels the segment’s growth.
• Based on the service provider, hospital-based laboratories dominated the market and accounted for the largest revenue share. This is due to the increasing number of patients who tests for severe disease. It is expected to maintain its dominance. The hospitals are integrating laboratories. The rising number of patients suffering from complex and major diseases fuels the segment’s growth. The standalone laboratories are expected to witness a promising CAGR in the coming years. It can handle large volumes of diagnostic tests. The emerging market players significantly contribute to the market growth.
• Based on the application, bioanalytical & lab chemistry services dominated the market and accounted for the largest revenue share. It uses techniques and technology to fulfill diagnostic needs. Bioanalytical services are used in drug discovery. The toxicology testing services segment is expected to witness a promising CAGR in the coming years. It includes the identification of toxic elements that affect patients.

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Regional Snapshots

Based on region, North America dominated the market and accounted for the largest revenue share. It is expected to maintain its dominance in the coming years. This is due to the developed healthcare infrastructure and availability of advanced technologies. The rising investments in developing pharmaceutical and healthcare facilities significantly contribute to market growth. The growing number of research centers positively influences market growth.

The Asia Pacific is expected to witness a promising CAGR in the coming years. This is due to the improved healthcare infrastructure. The rising government expenditure on developing healthcare infrastructure significantly contributes to regional market growth. The increasing prevalence of diseases, rapid urbanization, and huge patient population positively influence the market growth. The growing number of patients in hospitals catalyzes market growth across the globe.

Market Dynamics:

Driver: Increasing incidence of chronic diseases

Chronic disorders such as diabetes, obesity, cardiovascular diseases, obesity, and cancer are affecting many people across the globe. Factors such as Sedentary lifestyle, pollution, aging population, and climate change are the main contributors to chronic diseases. It influences the emergence of diseases worldwide. Many deaths are caused due to non-communicable diseases. Most of these deaths occur in people above 70 years of age.

The high prevalence of diseases significantly contributes to global market growth. Life expectancy has increased due to access to better healthcare facilities. This has led to an increase in the geriatric population across the world. This rise in the geriatric population has led to an increase in cases of age-related health conditions. This, in turn, is boosting the demand for clinical laboratory services.

Opportunity: Surge in investments

The increase in public-private investments offers numerous opportunities for market growth. The rising demand for clinical laboratory services compliant with regulatory standards catalyzes market growth. The research funding and grants for creating laboratory testing procedures further propel the market growth. The rapid adoption of digital pathology platforms creates a positive outlook for the market. The clinical laboratories offer comprehensive health checkups.

Restraint: Increasing demand for the home-based procedure

The increasing demand for home-based testing procedures is expected to restrict the market growth. In line with this, people are shifting their preference from diagnosis to home-based testing services. This factor hampers the market growth across the globe.

Challenge: Concerns related to data security

The public is facing concerns related to data security and privacy. This is expected to challenge the clinical laboratory services market growth. Moreover, the pricing pressure faced by healthcare providers impedes the market growth.

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Key Developments:

• In February 2020, Ortho Clinical Diagnostics introduced a clinical chemistry system. The system completed its integrated Vitros XT line, which is designed to cover most typical lab tests.

Major Key Players

• Charles River Laboratories International Inc.
• Laboratory Corporation of America Holdings
• NeoGenomics Laboratories Inc.
• Siemens Healthcare GmbH
• Quest Diagnostics Inc.
• Fresenius Medical Care
• Viapath Group LLP
• Almac Group
• Sonic Healthcare
• OPKO Health Inc.

Market Segmentation

By Test Type

• Human and Tumor Genetics
• Clinical Chemistry
• Medical Microbiology and Cytology
• Genetic Testing
• Drug of Abuse Testing
• Other Esoteric Tests

By Service Provider

• Hospital based laboratories
• Standalone laboratories
• Clinic based laboratories

By Application

• Bioanalytical and Lab Chemistry Services
• Toxicology Testing Services
• Cell and Gene Therapy Related Services
• Preclinical and Clinical Trial Related Services
• Drug Discovery and Development Related Services
• Others

Regional Segmentation

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

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Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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