Global Laboratory Developed Tests Market 2024

Global Laboratory Developed Tests Market 2024

The global laboratory developed test (LDT) market is experiencing growth driven by various factors. These include the increasing demand for in vitro diagnostic tests that are currently unavailable in the market for laboratory developed tests, the high demand for personalized medicine, and the absence of regulatory approvals required for LDTs.

Among the different technology types, the molecular diagnostics segment accounted for the largest share of revenue in 2023. This growth can be attributed to the growing geriatric population and the increasing need for early disease detection. Molecular diagnostics tests are utilized for detecting major parasitic, bacterial, and viral infections. Advanced technologies such as in situ hybridization and PCR have addressed the drawbacks of traditional molecular testing, including complexity in growing organisms, long turnaround time, lack of sensitivity, and poor in vitro kinetics.

The Asia Pacific market is expected to contribute significantly to the market share over the forecast period. In 2023, North America held the largest revenue share due to factors such as increased healthcare expenditure, a high prevalence of chronic diseases, a rise in the geriatric population, and increased government funding. The North America laboratory developed test market is estimated to reach USD 7.4 billion by 2029, with a CAGR of 7.0% during the forecast period. The region dominates the global LDT market in terms of revenue generation, driven by increasing healthcare expenditure, the prevalence of chronic diseases, the presence of a large number of players, and the positive impact of the COVID-19 outbreak. The outbreak of the coronavirus led to an increased demand for quick on-site screening, resulting in a rise in the number of tests conducted. Consequently, many companies are focusing on manufacturing and developing novel tests. Additionally, with the increasing prevalence of cancer and rapid advancements in cancer diagnosis, the market is experiencing significant growth.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the technology, application, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for laboratory developed tests can be segmented by technology: immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy, others. The molecular diagnostics segment captured the largest share of the market in 2023, accounting for more than 26.2% of the total market.

Laboratory developed tests market is further segmented by application: oncology, genetic disorders/inherited disease, infectious & parasitic diseases, immunology, nutritional & metabolic disease, cardiology, pediatrics-specific testing, hematology/general blood testing, bodily fluid analysis, others. The oncology segment held the largest share of the global laboratory developed tests market in 2023 and is anticipated to hold its share during the forecast period.

Based on region, the laboratory developed tests market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. In 2023, North America made up the largest share of revenue generated by the laboratory developed tests market.

The global laboratory developed tests market report offers detailed information on several market vendors, including Siemens Healthineers AG, Quest Diagnostics Incorporated, Abbott Laboratories, 23andMe Holding Co., Qiagen N.V., Eurofins Scientific SE, Illumina, Inc., Guardant Health Inc., Roche Holding AG, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global laboratory developed tests market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

Stay ahead of competitors through company profiles and market data.

The market estimate for ease of analysis across scenarios in Excel format.

Strategy consulting and research support for three months.

Print authentication provided for the single-user license.

Market Segments Covered in Global Laboratory Developed Tests Industry Analysis:

i.) Technology

• Immunoassays
• Hematology and coagulation
• Molecular diagnostics
• Microbiology
• Clinical chemistry
• Histology/cytology
• Flow cytometry
• Mass spectroscopy
• Others

ii.) Application

• Oncology
• Genetic disorders/inherited disease
• Infectious & parasitic diseases
• Immunology
• Nutritional & metabolic disease
• Cardiology
• Pediatrics-specific testing
• Hematology/general blood testing
• Bodily fluid analysis
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America