Clinical Laboratory Services Market Size & Growth Analysis to 2030

The global clinical laboratory services market size was estimated at around USD 175 billion in 2019 and projected to grow at the CAGR of 5.3 % market during 2020-2027. The global clinical laboratory services market is witnessing positive growth in light of the growing demand for altering the aesthetic appearance. Clinical laboratory services have a huge demand in the entertainment sector, and innovation in the types of microscopic lenses and comfort in usage are the key factors contributing to market growth.

Market Insights:

The rising prevalence of chronic diseases and increasing demand for clinical diagnostics are the key growth factors in the clinical laboratories services market. In the base year 2019, clinical chemistry held the largest market in the global clinical laboratories services test type segment, chiefly due to the rising concern of antibiotic-resistant bacterial infections in developed and developing countries. Clinical-based laboratories held the largest market share in the service type segment chiefly due to high patient volume and the consequent presence of high test volumes in hospitals. The clinical laboratory services market is currently dominated by North America due to the increasing number of patients suffering from chronic diseases, early disease diagnosis and treatment, and supportive reimbursement policies. On the other hand, Asia Pacific is anticipated to be the fastest-growing market because of high public awareness, large patient pool suffering from critical illness, medical tourism, and advanced healthcare infrastructure.

Market Segment Insights:

The clinical laboratories services market is majorly segmented into test types such as clinical chemistry, medical microbiology & cytology, human and tumor genetics, and other esoteric tests the clinical chemistry held the largest market in the test types segment the growth is mainly attributed to factors such as the rising concern of antibiotic-resistant bacterial infections in developed and developing countries. The service provider segment consists of hospital-based laboratories, clinic-based laboratories, and stand-alone laboratories, the clinic-based laboratories held the largest share in the global clinical laboratories services market primarily due to the huge patient pool suffering from chronic diseases, large patient volume, and test volumes in the hospitals.

Global Clinical Laboratories Services Market Segmentation:

By Test Type, 2018–2027 ($ Million)

• Clinical Chemistry
• Medical Microbiology & Cytology
• Human & Tumor Genetics
• Other Esoteric Tests

By Service Provider Type, 2018–2027 ($ Million)

• Clinic-Based Laboratories
• Hospital-Based Laboratories
• Stand-Alone Laboratories

By Geography, 2018-2027 ($ Million)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Regional Insights:

North America, Latin America, Europe, Middle East and Africa, and Asia Pacific, markets together form the major regional markets for clinical laboratory services. These regional markets are further sub-segmented into country specific markets on the basis of demand and market growth of clinical laboratory services. Among the considered regional markets, North America currently dominates the global clinical laboratories services market, with United States being the largest country-level market. An increase in number of patients suffering from chronic diseases, early disease diagnosis and treatment and supportive reimbursement policies. The Asia Pacific is anticipated to be the fastest-growing market for clinical laboratory services due to the huge population base suffering from a critical illness, rising public awareness and deep market penetration of clinical laboratory services and products, and high disposable incomes.

Market Competition Assessment:

Key players in the global clinical laboratories services market are: Abbott Laboratories, Inc., ARUP Laboratories, Bio-reference laboratories, Bioscientia healthcare, Charles River Laboratories, Genoptix Medical Laboratory, Healthscope, Laboratory Corporation of America Holdings (Labcorp), Labco S.A., Sonic Healthcare Limited, Spectra Laboratories, Quest Diagnostics, Inc., Genzyme Corporation, and Seimens.

List of Key Companies:

• Abbott Laboratories, Inc.
• ARUP Laboratories
• Bio-Reference Laboratories
• Bioscientia Healthcare
• Charles River Laboratories
• Genoptix Medical Laboratory
• Healthscope
• Laboratory Corporation of America Holdings (Labcorp)
• Labco S.A.
• Sonic Healthcare Limited
• Spectra Laboratories
• Quest Diagnostics, Inc.
• Genzyme Corporation
• Seimens

Key Questions Answered by Clinical Laboratory Services Market Report

• Global clinical laboratory services market forecasts from 2020-2027
• Regional clinical laboratory services market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
• Clinical Laboratory Services submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
• Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to the clinical laboratory services market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level clinical laboratory services markets from 2020-2027
• Competitive Landscape and market positioning of top 10 players operating in the clinical laboratory services market

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