NEW
YORK, July 9, 2024 /PRNewswire/ -- Clinical
laboratory services encompass a wide range of medical diagnostic
activities performed on specimens such as blood, urine, tissue, and
other bodily fluids. These services play a crucial role in disease
detection, monitoring, and treatment planning. The market for
clinical laboratory services is poised to grow significantly,
driven by factors like the rising geriatric population and
increasing adoption of preventive healthcare measures. However,
challenges such as a shortage of skilled professionals need
addressing. Key players in this market include Abbott Laboratories,
Bio Rad Laboratories Inc., Quest Diagnostics Inc., and others,
indicating a competitive landscape focused on innovation and
service expansion.
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Clinical Laboratory
Services Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
10.87%
|
Market growth
2024-2028
|
USD 172.4
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
9.51
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
38%
|
Key
countries
|
US, UK, China, Germany,
and Japan
|
Key companies
profiled
|
Abbott Laboratories, AP
Moller Holding AS, ARUP Laboratories, Bio Rad Laboratories Inc.,
Cerba HealthCare, Charles River Laboratories International Inc.,
Enzo Clinical Labs Inc., Eurofins Scientific SE, Fresenius Medical
Care AG and Co. KGaA, Genova Diagnostics Inc., HU Group Holdings
Inc., Illumina Inc., Laboratory Corp. Of America Holdings,
NeoGenomics Laboratories Inc., OPKO Health Inc., QIAGEN NV, Quest
Diagnostics Inc., Siemens AG, Sonic Healthcare Ltd., and SYNLAB
International GmbH
|
Market Driver
The rising prevalence of chronic diseases and the adoption of
preventive healthcare are driving the demand for clinical
laboratory services. Preventive healthcare focuses on disease
prevention rather than treatment, which is achievable through
routine healthcare tests. Doctors recommend regular checkups based
on age and gender, increasing the demand for specific tests. For
instance, women between 38 and 42 require mammograms for breast
cancer screening. Additionally, the increase in transmittable
diseases, such as malaria and TB, necessitates regular testing.
Preventive healthcare insurance plans, especially in countries like
the US, cover these preventive measures, mandated by laws like the
Affordable Care Act (ACA). Consequently, the global clinical
laboratory services market will experience significant growth
during the forecast period due to the increasing trend towards
preventive healthcare.
Clinical laboratory services play a crucial role in disease
diagnosis and patient care, particularly in managing chronic
diseases such as cardiovascular conditions and diabetes. The market
for clinical lab services is growing, driven by the increasing
prevalence of these diseases and the need for early diagnosis.
Diagnostic tests, including clinical chemistry, genetics,
microbiology, hematology, immunology, cytology, and toxicology, are
at the heart of this market. Sample preparation, data management,
and automation are key trends. Laboratory automation systems and
database management tools help streamline processes, ensuring
accurate and efficient testing. Innovation in clinical diagnostic
techniques, such as biomolecular concentrations and informatics,
enable early disease detection. Hospital-based and stand-alone
laboratories offer different services, including bioanalytical lab
services and preventive screening. Despite these advancements,
pricing pressure remains a challenge for the clinical lab services
market. Nursing staff and diagnostic laboratories must adapt to
automation and digitalization. The healthcare system continues to
evolve, with a focus on genome-based laboratory testing and
personalized patient care.
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Market Challenges
- Clinical laboratory services market relies on the expertise of
skilled and certified professionals who specialize in various areas
of clinical laboratory medicine, including hematology, chemistry,
microbiology, immunology, blood banking, and molecular pathology.
These professionals assume diverse roles, such as technologists,
research technologists, supervisors, managers, or educators.
Approximately 60-70% of medical decisions regarding hospital
admissions, discharge, diagnosis, and treatment are influenced by
clinical laboratory professionals. However, a significant number of
medical professionals and laboratory technicians lack proficiency
in utilizing advanced diagnostic technology. This knowledge gap
increases the likelihood of incorrect diagnoses. Consequently, it
is imperative to educate laboratory staff on the use of critical
diagnostic devices to maintain accuracy and enhance the competitive
edge of clinical laboratory services in the market. The shortage of
trained professionals in this area could hinder the growth of the
global clinical laboratory services market during the forecast
period.
- The Clinical Laboratory Services market faces significant
challenges in areas such as cardiovascular diseases and diabetes
diagnosis. Innovation is crucial to address these challenges, with
diagnostic practices relying heavily on lab testing in clinical
chemistry, microbiology, hematology, immunology, cytology,
genetics, toxicology, and bioanalytical services.
Hospital-based and stand-alone laboratories offer different
solutions, with healthcare systems increasingly embracing
automation and digitalization. Technological innovations in lab
testing procedures and clinical diagnostic techniques are essential
to keep up with the demand. Nursing staff and pricing pressure are
other challenges, with preventive screening and home-based testing
gaining popularity. Genome-based laboratories are a growing
segment, requiring specialized expertise and investment. Overall,
the market must adapt to these challenges to deliver accurate and
timely lab-based diagnosis.
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Segment Overview
This clinical laboratory services market report extensively
covers market segmentation by
- End-user
- 1.1 Hospital-based laboratories
- 1.2 Stand-alone laboratories
- 1.3 Clinic-based laboratories
- Application
- 2.1 Bioanalytical and lab chemistry
- 2.2 Toxicology testing
- 2.3 Cell and gene therapy
- 2.4 Preclinical and clinical trial
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Hospital-based laboratories- Hospital-based clinical
laboratories have a significant market presence, holding a major
share in 2023. Hospitals refer tests to these labs to reduce
turnaround time, cost, and manpower. Technologically advanced rapid
diagnostics, such as real-time PCR and PNA-FISH, are outsourced due
to their high costs and requirement for expensive equipment. These
tests offer early targeted therapy and shorter hospital stays,
encouraging healthcare professionals (HCPs) to refer them.
Collaborations between hospitals and clinical laboratories provide
a range of services, from consultative support to high-end
solutions. Additional offerings include courier support, sample
transport, lab efficiency audits, quality improvement programs,
staffing, IT products, lab management, and hospital outreach
testing. These partnerships benefit both parties, driving the
adoption of hospital-based clinical labs and boosting the global
clinical laboratory services market growth.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
Clinical laboratory services play a crucial role in the
healthcare system by providing accurate and timely diagnosis of
various chronic diseases, infections, and inflammatory conditions.
These services offer a range of diagnostic tests, including
clinical chemistry, microbiology, hematology, immunology, cytology,
genetic testing, and preventive screening. Sample preparation and
data management are essential aspects of clinical lab services,
ensuring the accuracy and reliability of test results.
Technological innovations, such as automation and digitalization,
have revolutionized laboratory testing procedures, enabling faster
turnaround times and increased efficiency. Laboratory automation
systems facilitate the analysis of biomolecular concentrations and
genetic testing in genome-based laboratories. Nursing staff play a
vital role in the collection and transportation of samples to the
laboratory. Clinical diagnostic techniques are continually evolving
to improve disease diagnosis and patient care.
Market Research Overview
Clinical laboratory services play a crucial role in diagnosing
and managing chronic diseases such as cardiovascular diseases,
diabetes, infections, and inflammatory conditions. These services
offer various diagnostic tests including clinical chemistry,
genetics testing, microbiology, hematology, immunology, cytology,
and toxicology testing services. Sample preparation and data
management are essential components of clinical lab services, with
automation and digitalization increasingly being adopted for
improved efficiency and accuracy. Laboratory automation systems and
database management tools facilitate effective data analysis and
patient test record management. Disease prevalence and early
disease diagnosis are key drivers for innovation in clinical
laboratory services. Technological innovations in areas such as
informatics, genome-based laboratory services, and preventive
screening are transforming diagnostic practices. The healthcare
system, nursing, and diagnostic laboratories are major consumers of
clinical laboratory services. Pricing pressure and the shift
towards lab-based diagnosis, as well as home-based testing, present
challenges for the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Hospital-based Laboratories
- Stand-alone Laboratories
- Clinic-based Laboratories
- Application
-
- Bioanalytical And Lab Chemistry
- Toxicology Testing
- Cell And Gene Therapy
- Preclinical And Clinical Trial
- Others
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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