Clinical Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Clinical Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global clinical diagnostics market size reached US$ 76.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 124.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.06% during 2023-2028.

Clinical diagnostics refer to the process of detecting, identifying and monitoring a disease through signs, symptoms, health history, and physical examination of a patient. They comprise manufacturing, developing, and selling automated test systems, informatics systems, test kits and specialized quality controls. They assist in disease management to improve health and the overall well-being of patients. They also aid in the stratification of patients with diverse diseases to provide them with targeted therapy. In addition, they can predict therapeutic efficacy, improve the effectiveness of treatments and avoid long-term complications for patients. As a result, clinical diagnostics find extensive applications in the hospital laboratory, diagnostic laboratory, and point-of-care testing across the globe.

Clinical Diagnostics Market Trends:
At present, there is a rise in the prevalence of chronic diseases, such as cancer, heart disease, stroke, diabetes, and arthritis, around the world. This, along with the growing adoption of automated platforms for disease prevention, detection, and management, represents one of the key factors driving the market. Moreover, there is an increase in the practice of lipid panel tests to measure total cholesterol, high-density lipoprotein (HDL) cholesterol, triglycerides, low-density lipoprotein (LDL) cholesterol, HDL ratio, and non-HDL cholesterol. This, coupled with the rising mortality rate due to increasing cardiovascular diseases, is propelling the growth of the market. Besides this, the rising awareness among individuals about the benefits of laboratory tests is offering lucrative growth opportunities to industry investors. Apart from this, the increasing utilization of clinical diagnostics by healthcare providers to develop targeted therapies through specific and sensitive diagnostic tests is bolstering the growth of the market. Additionally, the escalating demand for personalized medicine among patients is positively influencing the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global clinical diagnostics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on test, product and end user.

Breakup by Test:

Lipid Panel
Liver Panel
Renal Panel
Complete Blood Count
Electrolyte Testing
Infectious Disease Testing
Others

Breakup by Product:

Instruments
Reagents
Others

Breakup by End User:

Hospital Laboratory
Diagnostic Laboratory
Point-of-care Testing
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Becton Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Qiagen N.V., Quest Diagnostics Incorporated, Siemens AG, Sysmex Corporation and Thermo Fisher Scientific Inc.

Key Questions Answered in This Report

1. What was the size of the global clinical diagnostics market in 2022?
2. What is the expected growth rate of the global clinical diagnostics market during 2023-2028?
3. What has been the impact of COVID-19 on the global clinical diagnostics market?
4. What are the key factors driving the global clinical diagnostics market?
5. What is the breakup of the global clinical diagnostics market based on the test?
6. What is the breakup of the global clinical diagnostics market based on the product?
7. What is the breakup of the global clinical diagnostics market based on the end user?
8. What are the key regions in the global clinical diagnostics market?
9. Who are the key players/companies in the global clinical diagnostics market?