NEW YORK, Sept. 15, 2016 /PRNewswire/ -- Medical and diagnostic laboratories perform tests on clinical specimens in order to gain insights and information on patients' health conditions. Tests performed on the clinical specimens' aid in the diagnosis, treatment, and prevention of diseases. These laboratories are distinct from the medical research laboratories involved in development of new drugs and treatments. The medical and diagnostic laboratory services industry comprises establishments primarily engaged in the detection and prevention of disease. These establishments can be broadly classified as medical and diagnostic laboratories and diagnostic imaging centers.
Medical Laboratories was the largest segment in the medical and diagnostic laboratory services market with XX% share of the global market worth about $XX billion. Medical laboratories perform tests on clinical specimens to obtain information about the health of patients pertaining to diagnosis, treatment and prevention of disease.
Diagnostic Imaging Centers was the second largest segment, with XX% of the market worth about $XX billion. Diagnostic Imaging Centers offer services to produce various types of radiologic and electromagnetic images using X-rays and ultrasound equipment to obtain information about the health of a patients pertaining to diagnosis, treatment and prevention of disease.
The Americas was the largest geographic market in Medical and Diagnostic Laboratories market in 2015, accounting for $XX billion or XX% of the global market. The Americas is the largest market because of high incidences of chronic diseases such as diabetes, liver disorders, cardiovascular diseases, large base of geriatric population and high awareness levels pertaining to diseases. Europe was the second largest geographic market, accounting for $XX billion or XX% of the global market. Asia was the third largest geographic market, accounting for $XX billion or XX% of the global market. The Middle East and Africa accounted for XX% and Oceania accounts for XX% of the global medical equipment market.
Global per capita average medical and diagnostic laboratory services expenditure grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita average medical and diagnostic laboratory services expenditure is increasing because of increase in medical and diagnostic services spending in emerging markets and higher prevalence of lifestyle diseases such as cancer and diabetes.
Wellness Diagnostics - The health and wellbeing of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at the senior employees of corporations.
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