Asia Pacific Clinical Reference Laboratory Market Forecast to 2031 - Regional Analysis - by Service Provider (Hospital-Based, Standalone, and Clinic-Based) and Application (Laboratory Medicine, Clinical Trials, and Others)
The Asia Pacific clinical reference laboratory market was valued at US$ 9,814.13 million in 2023 and is expected to reach US$ 16,510.17 million by 2031; it is estimated to register a CAGR of 6.7% from 2023 to 2031.
Strategic Initiatives with Reference Laboratories Boost Asia Pacific Clinical Reference Laboratory MarketStrategic initiatives by the laboratory service providers such as acquisition, alliance, and expansion with reference labs are among the most cost-effective ways to obtain the benefits of better patient care and cost efficiency. In 2024, Hausen-Bernstein Co. Ltd., the leading supplier of in-vitro diagnostic (IVD) products in Thailand, was acquired by Everlife Holdings Pte Ltd, a prominent market access and distribution business in India and Southeast Asia. In 2024, CORE Diagnostics, a next-generation diagnostics for medication selection and disease stratification based in India, announced its plans to expand operations in 50 new cities. In 2023, Suburban Diagnostics opened its largest 'reference' laboratory in Vidya Vihar, Mumbai. This ultramodern laboratory will utilize state-of-the-art testing and process automation technologies to provide a comprehensive test menu for accurate and quick diagnosis. In 2023, TRUSTlab Diagnostics, a clinical reference laboratory in Hyderabad, India, partnered with NKV Path Labs in Gurugram to expand its diagnostic services to underserved areas of the nation. Thus, the increasing number of acquisitions and alliances with reference laboratories is expected to offer significant opportunities for market growth.
Asia Pacific Clinical Reference Laboratory Market OverviewIn recent decades, the emergence of several infectious illnesses, including COVID-19 and monkeypox, has posed a new risk to human health. China has experienced a rapid epidemiological change, with notable advances in infectious disease control. When dealing with infectious disease concerns, it is critical to detect and locate the outbreak as soon as possible, identify the pathogen, and ensure proper disposal to minimize escalation and prevent and manage infectious diseases. Various tests are done in hospitals or reference laboratories to detect the pathogen. According to the provincial-level administrative divisions (PLADs), 5,770 malaria cases were recorded between 2014 and 2021, with 99.05% samples of malaria submitted to provincial malaria diagnosis reference laboratories. Provincial malaria diagnosis reference laboratories have played a critical role in guaranteeing the accuracy and reliability of Plasmodium diagnosis in healthcare facilities. The abovementioned factors are driving the clinical reference laboratory market in the country.
Asia Pacific Clinical Reference Laboratory Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific Clinical Reference Laboratory Market SegmentationThe Asia Pacific clinical reference laboratory market is categorized into service provider, application, and country.
Based on service provider, the Asia Pacific clinical reference laboratory market is segmented into hospital-based, standalone, and clinic-based. The hospital-based segment held the largest market share in 2023.
In terms of application, the Asia Pacific clinical reference laboratory market is categorized into laboratory medicine, clinical trials, and others. The laboratory medicine segment held the largest market share in 2023.
By country, the Asia Pacific clinical reference laboratory market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific clinical reference laboratory market share in 2023.
Sonic Healthcare Ltd, Laboratory Corp of America Holdings, Quest Diagnostics Inc, and Myraid Genetics Inc are some of the leading companies operating in the Asia Pacific clinical reference laboratory market.
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