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Clinical Laboratory Services Market Forecasts to 2028 – Global Analysis By Laboratory Type (Hospital, Commercial), Specialty (Hematology, Clinical Chemistry), Application, and By Geography

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from $4,150 200 Pages Stratistics Market Research Consulting July, 2022 SMR17330611
Best Price Guarantee
Price from $4,150
Length 200 Pages
Publisher Stratistics Market Research Consulting
Published Date July, 2022
SKU SMR17330611

Clinical Laboratory Services Market Forecasts to 2028 – Global Analysis By Laboratory Type (Hospital, Commercial), Specialty (Hematology, Clinical Chemistry), Application, and By Geography

According to Stratistics MRC, the Global Clinical Laboratory Services Market is accounted for $219.57 billion in 2022 and is expected to reach $324.01 billion by 2028 growing at a CAGR of 6.7% during the forecast period. Clinical laboratory service is to detect and monitor the test results done on specimens from the body like urine or blood of the patient and provide them with appropriate treatment. A clinical laboratory has a crucial role in the healthcare system as it provides a wide range of services, including the diagnosis, treatment, prevention, and management of patients.

The increasing occurrence of targeted diseases, cardiovascular diseases, such as diabetes, high blood pressure, and lipid disorders are caused due to sedentary lifestyle and unhealthy food consumption. As per the World Health Organization (WHO), in 2018, about 1.5 million people died of tuberculosis, and it is one of the top ten causes of death across the globe. The number of people suffering from diabetes has increased from 108 million in 1980 to 422 million in 2014.

Market Dynamics:

Driver:

Rising awareness among people regarding early diagnosis

Early diagnosis of diseases such as cancer, infection, or others can essentially increase the possibilities of effective treatment at the beginning phase. So, it is one of the important public health strategies. Various governments and global associations started various initiatives to generate awareness regarding early diagnosis. Additionally, different emerging ailments have the potential to cause substantial morbidity, mortality, and economic damage. Efforts undertaken by the governments in the prevention of emerging ailments are expected to fuel the market size during the forecast timeline.

Restraint:

Lack of diagnostic tests

Pricing pressure faced by medical services payers and suppliers and procedural shift from lab-based diagnosis to home-based/point-of-care testing procedures is likely to restrain the growth of the market during the forecast period. It would also have a considerable impact on the profit margins due to the additional costs and possible delays in introducing newly developed tests.

Opportunity:

Rising adoption of automated technologies

The rising adoption of automated technologies to improve efficiency and reduce cost is likely to augment the growth of the market. The introduction of accurate and technologically advanced products, such as companion diagnostics, biochips, and microarrays, has bolstered the demand for early disease detection. The key players in the industry are introducing new services in the market to serve the patients, which in turn provide ample opportunities for market growth.

Threat:

Lack of skilled professionals

Testing and diagnostics are troublesome and require trained professionals. In 2020, owing to the COVID-19 pandemic, many healthcare professionals and lab professionals were affected. This generated a huge shortage of lab professionals and it was quite difficult to generate accurate data. Thus, skilled professionals are required by clinical laboratories to flourish in the coming years.

The stand-alone laboratories segment is expected to be the largest during the forecast period

The stand-alone laboratories segment is estimated to have a lucrative growth owing to the increasing pervasiveness of rare genetic disorders positively influencing technologically advanced stand-alone laboratories. Stand-alone laboratories are proficient to perform different genetic disease testing because of accessibility to advanced diagnostics devices for accurate and efficient detection.

The human and tumor genetic testing segment is expected to have the highest CAGR during the forecast period

The human and tumor genetic testing segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the high prevalence of cancer and tumor cases in the population poised to upsurge the industry progression for clinical laboratory tests. Likewise, the availability of analytical instruments quantifies various types of cancer which enables diagnostic decisions and better surgical performance, thereby augmenting the segment growth.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the increasing prevalence of chronic diseases, growing healthcare expenditure, technological advancements in clinical testing techniques, favorable regulatory policies, and supportive reimbursement policies. Furthermore, the presence of a large number of laboratories and ease of diagnosis in this region are also driving the market growth

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period due to the rising healthcare expenditure, increasing number of hospitals and clinical diagnostic laboratories in India and China, and strengthening research base for clinical laboratory testing procedures across India, China, and Japan.

Key players in the market

Some of the key players profiled in the Clinical Laboratory Services Market include Sonic Healthcare, Viapath, Spectra Laboratories, ACM Global Laboratories, BioReference Laboratories, Quest Diagnostics, Clinical Reference Laboratory, OPKO Health, Inc., NeoGenomics Laboratories, Eurofins Scientific, Labcorp, Fresenius Medical Care, Myriad Genetics, Charles River Laboratories, QIAGEN, Mindray, Bio-Rad Laboratories, Deep Bio, Siemens Healthineers, and Abbott Laboratories.

Key Developments:

In March 2022, Mindray launched the new BC-700 Series, a revolutionary hematology analyzer series that incorporates both complete blood count (CBC) and erythrocyte sedimentation rate (ESR) tests. This series, including two open vial models BC-700/BC-720 and two autoloader models BC-760/BC-780, is designed to empower medium-volume laboratories with advanced diagnostics technologies that are applied in the premium products.

In July 2021, Deep Bio announced a research collaboration agreement with ARUP Laboratories. This Collaboration is benefitted the company in terms of usage of artificial intelligence in diagnostics of cancer. DeepDx® Prostate, Deep Bio’s AI-based prostate cancer diagnosis software, will be used for the joint research. This is the first of multiple research projects that ARUP and Deep Bio will collaborate on under the multiyear research program.

Laboratory Types Covered:
• Hospital
• Commercial

Service Providers Covered:
• Stand-Alone Laboratories
• Nursing and Physician Office-Based Laboratories
• Independent/Private and Reference Laboratories
• Hospital-Based Laboratories
• Contract Research Organizations (CROs)
• Clinic-Based Laboratories

Specialties Covered:
• Medical Microbiology Testing
• Hematology Testing
• Human and Tumor Genetic Testing
• Immunology Testing/Immunochemistry
• Cytology and Histology Testing
• Clinical Chemistry Testing
• Biochemistry
• Esoteric Tests
• Food Intolerance Test
• Histopathology & Anatomic Pathology Services
• Urinalysis
• Other Specialties

Products Covered:
• Instruments
• Reagents
• Services

Ownerships Covered:
• Private
• Public

Applications Covered:
• Toxicology Testing Services (Drug of Abuse Testing)
• Preclinical & Clinical Trial Related Services
• Drug Discovery & Development Related Services
• Cell & Gene Therapy Related Services
• Bioanalytical & Lab Chemistry Services

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Clinical Laboratory Services Market, By Laboratory Type
5.1 Introduction
5.2 Hospital
5.3 Commercial
6 Global Clinical Laboratory Services Market, By Service Provider
6.1 Introduction
6.2 Stand-Alone Laboratories
6.3 Nursing and Physician Office-Based Laboratories
6.4 Independent/Private and Reference Laboratories
6.5 Hospital-Based Laboratories
6.6 Contract Research Organizations (CROs)
6.7 Clinic-Based Laboratories
7 Global Clinical Laboratory Services Market, By Specialty
7.1 Introduction
7.2 Medical Microbiology Testing
7.2.1 Andrology
7.2.2 Blood Bank/ Transfusion Medicine
7.2.3 Human Leukocyte Antigen (HLA) Typing
7.2.4 Infectious Diseases Testing
7.2.5 Transplant Diagnostic Testing
7.3 Hematology Testing
7.3.1 Coagulation Testing
7.3.2 Routine Hematology Testing
7.3.3 Specialized Hematology Testing
7.4 Human and Tumor Genetic Testing
7.5 Immunology Testing/Immunochemistry
7.6 Cytology and Histology Testing
7.7 Clinical Chemistry Testing
7.7.1 Endocrinology Chemistry Testing
7.7.2 Routine Chemistry Testing
7.7.3 Specialized Chemistry Testing
7.7.4 Therapeutic Drug Monitoring (TDM) Testing
7.8 Biochemistry
7.9 Esoteric Tests
7.10 Food Intolerance Test
7.11 Histopathology & Anatomic Pathology Services
7.12 Urinalysis
7.13 Other Specialties
7.13.1 Hair Testing
7.13.2 Oral Fluid Testing
8 Global Clinical Laboratory Services Market, By Product
8.1 Introduction
8.2 Instruments
8.3 Reagents
8.4 Services
9 Global Clinical Laboratory Services Market, By Ownership
9.1 Introduction
9.2 Private
9.3 Public
10 Global Clinical Laboratory Services Market, By Application
10.1 Introduction
10.2 Toxicology Testing Services (Drug of Abuse Testing)
10.3 Preclinical & Clinical Trial Related Services
10.4 Drug Discovery & Development Related Services
10.5 Cell & Gene Therapy Related Services
10.6 Bioanalytical & Lab Chemistry Services
11 Global Clinical Laboratory Services Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Sonic Healthcare
13.2 Viapath
13.3 Spectra Laboratories
13.4 ACM Global Laboratories
13.5 BioReference Laboratories
13.6 Quest Diagnostics
13.7 Clinical Reference Laboratory
13.8 OPKO Health, Inc.
13.9 NeoGenomics Laboratories
13.10 Eurofins Scientific
13.11 Labcorp
13.12 Fresenius Medical Care
13.13 Myriad Genetics
13.14 Charles River Laboratories
13.15 QIAGEN
13.16 Mindray
13.17 Bio-Rad Laboratories
13.18 Deep Bio
13.19 Siemens Healthineers
13.20 Abbott Laboratories
List of Tables
Table 1 Global Clinical Laboratory Services Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Clinical Laboratory Services Market Outlook, By Laboratory Type (2020-2028) ($MN)
Table 3 Global Clinical Laboratory Services Market Outlook, By Hospital (2020-2028) ($MN)
Table 4 Global Clinical Laboratory Services Market Outlook, By Commercial (2020-2028) ($MN)
Table 5 Global Clinical Laboratory Services Market Outlook, By Service Provider (2020-2028) ($MN)
Table 6 Global Clinical Laboratory Services Market Outlook, By Stand-Alone Laboratories (2020-2028) ($MN)
Table 7 Global Clinical Laboratory Services Market Outlook, By Nursing and Physician Office-Based Laboratories (2020-2028) ($MN)
Table 8 Global Clinical Laboratory Services Market Outlook, By Independent/Private and Reference Laboratories (2020-2028) ($MN)
Table 9 Global Clinical Laboratory Services Market Outlook, By Hospital-Based Laboratories (2020-2028) ($MN)
Table 10 Global Clinical Laboratory Services Market Outlook, By Contract Research Organizations (CROs) (2020-2028) ($MN)
Table 11 Global Clinical Laboratory Services Market Outlook, By Clinic-Based Laboratories (2020-2028) ($MN)
Table 12 Global Clinical Laboratory Services Market Outlook, By Specialty (2020-2028) ($MN)
Table 13 Global Clinical Laboratory Services Market Outlook, By Medical Microbiology Testing (2020-2028) ($MN)
Table 14 Global Clinical Laboratory Services Market Outlook, By Andrology (2020-2028) ($MN)
Table 15 Global Clinical Laboratory Services Market Outlook, By Blood Bank/ Transfusion Medicine (2020-2028) ($MN)
Table 16 Global Clinical Laboratory Services Market Outlook, By Human Leukocyte Antigen (HLA) Typing (2020-2028) ($MN)
Table 17 Global Clinical Laboratory Services Market Outlook, By Infectious Diseases Testing (2020-2028) ($MN)
Table 18 Global Clinical Laboratory Services Market Outlook, By Transplant Diagnostic Testing (2020-2028) ($MN)
Table 19 Global Clinical Laboratory Services Market Outlook, By Hematology Testing (2020-2028) ($MN)
Table 20 Global Clinical Laboratory Services Market Outlook, By Coagulation Testing (2020-2028) ($MN)
Table 21 Global Clinical Laboratory Services Market Outlook, By Routine Hematology Testing (2020-2028) ($MN)
Table 22 Global Clinical Laboratory Services Market Outlook, By Specialized Hematology Testing (2020-2028) ($MN)
Table 23 Global Clinical Laboratory Services Market Outlook, By Human and Tumor Genetic Testing (2020-2028) ($MN)
Table 24 Global Clinical Laboratory Services Market Outlook, By Immunology Testing/Immunochemistry (2020-2028) ($MN)
Table 25 Global Clinical Laboratory Services Market Outlook, By Cytology and Histology Testing (2020-2028) ($MN)
Table 26 Global Clinical Laboratory Services Market Outlook, By Clinical Chemistry Testing (2020-2028) ($MN)
Table 27 Global Clinical Laboratory Services Market Outlook, By Endocrinology Chemistry Testing (2020-2028) ($MN)
Table 28 Global Clinical Laboratory Services Market Outlook, By Routine Chemistry Testing (2020-2028) ($MN)
Table 29 Global Clinical Laboratory Services Market Outlook, By Specialized Chemistry Testing (2020-2028) ($MN)
Table 30 Global Clinical Laboratory Services Market Outlook, By Therapeutic Drug Monitoring (TDM) Testing (2020-2028) ($MN)
Table 31 Global Clinical Laboratory Services Market Outlook, By Biochemistry (2020-2028) ($MN)
Table 32 Global Clinical Laboratory Services Market Outlook, By Esoteric Tests (2020-2028) ($MN)
Table 33 Global Clinical Laboratory Services Market Outlook, By Food Intolerance Test (2020-2028) ($MN)
Table 34 Global Clinical Laboratory Services Market Outlook, By Histopathology & Anatomic Pathology Services (2020-2028) ($MN)
Table 35 Global Clinical Laboratory Services Market Outlook, By Urinalysis (2020-2028) ($MN)
Table 36 Global Clinical Laboratory Services Market Outlook, By Other Specialties (2020-2028) ($MN)
Table 37 Global Clinical Laboratory Services Market Outlook, By Hair Testing (2020-2028) ($MN)
Table 38 Global Clinical Laboratory Services Market Outlook, By Oral Fluid Testing (2020-2028) ($MN)
Table 39 Global Clinical Laboratory Services Market Outlook, By Product (2020-2028) ($MN)
Table 40 Global Clinical Laboratory Services Market Outlook, By Instruments (2020-2028) ($MN)
Table 41 Global Clinical Laboratory Services Market Outlook, By Reagents (2020-2028) ($MN)
Table 42 Global Clinical Laboratory Services Market Outlook, By Services (2020-2028) ($MN)
Table 43 Global Clinical Laboratory Services Market Outlook, By Ownership (2020-2028) ($MN)
Table 44 Global Clinical Laboratory Services Market Outlook, By Private (2020-2028) ($MN)
Table 45 Global Clinical Laboratory Services Market Outlook, By Public (2020-2028) ($MN)
Table 46 Global Clinical Laboratory Services Market Outlook, By Application (2020-2028) ($MN)
Table 47 Global Clinical Laboratory Services Market Outlook, By Toxicology Testing Services (Drug of Abuse Testing) (2020-2028) ($MN)
Table 48 Global Clinical Laboratory Services Market Outlook, By Preclinical & Clinical Trial Related Services (2020-2028) ($MN)
Table 49 Global Clinical Laboratory Services Market Outlook, By Drug Discovery & Development Related Services (2020-2028) ($MN)
Table 50 Global Clinical Laboratory Services Market Outlook, By Cell & Gene Therapy Related Services (2020-2028) ($MN)
Table 51 Global Clinical Laboratory Services Market Outlook, By Bioanalytical & Lab Chemistry Services (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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