Clinical Laboratory Services Market is Predicted to Rise at a CAGR of 6.3% during the Forecast Period, observes TMR Study

News provided by

Jul 01, 2022, 07:30 ET

Increasing prevalence of infectious and chronic and infectious illnesses is likely to fuel growth of the global clinical laboratory services market
An increase in the demand for medical tourism is expected to bolster expansion of the global market

WILMINGTON, Del., July 1, 2022 /PRNewswire/ -- Clinical laboratory services market was valued at US$ 232.6 Bn in 2018. The global market is expected to develop at a CAGR of 6.3% during the forecast period, from 2019 to 2027. The clinical laboratory services industry size is anticipated to reach valuation of US$ 403.7 Bn By 2027. The spread of infectious illnesses throughout the world and technological innovations in clinical diagnosis procedures are two of the key factors that are likely to trigger growth of the global clinical laboratory services market.

A crucial part of the medical and health care industries is the clinical laboratory, which is why there is a rising market demand for clinical laboratory services. These labs are utilized all over the world to perform different diagnostic procedures, from basic blood tests to complicated genetic analysis testing, thereby broadening scope for clinical laboratory services. Clinical laboratory services offer tools and data management abilities that are likely to maximize the distribution required in different healthcare systems. Clinicians are now able to start, modify, and discontinue treatments that would otherwise be difficult without the services of medical laboratories. This has been made possible due to the solutions offered by clinical laboratory services market.

Drug development, lab and bioanalytical chemistry, services linked to pre-clinical and clinical trials, gene and cell therapy, and toxicological testing are among the solutions offered by players in the global clinical laboratory services market.

Request Brochure of Clinical Laboratory Services Market Research Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=414

Key Findings of Market Report

Rapid Urbanization and increasing adoption of poor lifestyle choices are responsible for the rising prevalence of various non-communicable chronic illnesses. More than 60% of fatalities that might have been prevented globally are brought on by non-communicable illnesses, as per the CDC (Centers of Disease Control and Prevention). The need for clinical laboratory testing has increased as a result of these factors. Rise in such illnesses is likely to present a positive future market outlook for clinical laboratory services in the years to come.
Medical tourism is expanding quickly due to the superior and competitive health care services and facilities offered in developed regions, as well as the rising use of cutting-edge products and technologies. India, Thailand, Mexico, and the US are some of the leading destinations for medical tourists. More patients are demanding clinical laboratory tests and services due to growing medical tourism. The key players in the clinical laboratory services are likely to capitalize on the significant development opportunities presented by increasing popularity of medical tourism.

Request for Analysis of COVID-19 Impact on Clinical Laboratory Services Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=414

Global Clinical Laboratory Services Market: Growth Drivers

Rise in demand for precise as well as speedy or early detection of various ailments is estimated to emerge as a key growth factor for the global clinical laboratory services market
Widespread use of digital pathology portals and a rising inclination for thorough health checks provided by clinical labs are estimated to drive demand for clinical laboratory services

Get Exclusive PDF Sample Copy of Clinical Laboratory Services Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=414

Global Clinical Laboratory Services Market: Key Players

Some of the key market players are

Quest Diagnostics Incorporated
Fresenius Medical Care Holdings, Inc
Charles River Laboratories International, Inc.
SYNLAB International GmbH
Laboratory Corporation of America Holdings
Genomic Health, Inc.

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=414

Global Clinical Laboratory Services Market: Segmentation

Test Types

Clinical Chemistry
Medical Microbiology and Cytology
Food Intolerance Test
Human and Tumor Genetics
Other Esoteric Tests

Service Providers

Stand-alone Laboratories
Hospital based laboratories
CROs (Contract Research Organizations)
Others

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Clinical Chemistry Analyzers Market: The global clinical chemistry analyzers market was valued at ~US$ 11.3 Bn in 2018. The clinical chemistry analyzers market is projected to expand at a CAGR of ~4% from 2019 to 2027.

Microbiology Culture Market: Increase in demand for improved antibiotics, improving food microbiology, rise in life science research funding, and high prevalence of foodborne and other infectious diseases are key factors driving the global microbiology culture market.

Histology & Cytology Market: Increasing prevalence of cancer and growing awareness pertaining to the benefits of cervical cancer screening programs are likely to provide a further boost to the overall growth of the global histology & cytology market during the assessment period.

Cytology and HPV Testing Market: The global cytology and HPV testing market was valued at US$ 7.42 Bn in 2018 and is anticipated to expand at a CAGR of 5.9% from 2019 to 2027.

Animal Genetics Market: The global animal genetics market was valued at around US$ 4,740.5 Mn in 2017 and is anticipated to reach US$ 8,022.7 Mn by 2026, expanding at a CAGR of 6.0% from 2018 to 2026.

Clinical Trials Market: The global clinical trials market was valued over US$ 46.7 Bn in 2019 and is anticipated to expand at a CAGR of 5.4% from 2020 to 2030.

Clinical Decision Support System Market: The global clinical decision support system market is anticipated to exceed value of US$ 2.3 Bn by 2031 and to grow at a CAGR of 8.8% from 2022 to 2031.

Telemedicine Technologies and Services Market: The global telemedicine technologies and services market is expected to cross value of US$ 526.7 Bn by the end of 2031 and it is estimated to grow at a CAGR of 13.8% from 2022 to 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]