Key Market Dynamics:
- Market Driver
- The burden on hospital and clinic in-house laboratories has increased as the prevalence of chronic health problems and infections has increased. The increased workload on laboratory employees has increased the possibility of diagnostic test results being inconsistent and inaccurate. Hospitals are under pressure to keep laboratory operations at a low cost. As a result, more laboratory procedures are being outsourced to reference laboratories. Vendors are also providing speedy diagnostic services, which is driving up demand even further.
- Market Trends
- Because of their benefits, such as real-time patient data collecting and easy access to them for future reference, electronic medical record (EMR) systems have garnered considerable usage in the healthcare sector. As a result of these advantages, hospitals and clinics have begun to integrate EMR systems with laboratory information systems (LISs). The connection will aid end-users in streamlining the ordering of laboratory tests online and gaining access to report results.
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The clinical reference laboratory services market report is segmented by end-user (Hospitals and private clinics, corporate offices and companies, and Government entities), service (Stand-alone reference laboratories, hospital-based reference laboratories, and clinic-based reference laboratories), application (Clinical chemistry, Human and tumor genetics, Medical microbiology and cytology, and Other esoteric tests), and geography (North America, Europe, Asia, and ROW). North America will be the leading region with 35% of the market's growth during the forecast period. The US, UK, Germany, France, and Japan are the key market for clinical reference laboratory services in North America.
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Vendor Insights
The clinical Reference Laboratory Services market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
Some Companies Mentioned with their Offerings
·
- amedes Holding GmbH
- Clinical Reference Laboratory Inc.
- Exact Sciences Corp.
- Mayo Medical Laboratories
- OPKO Health Inc.
- Quest Diagnostics Inc.
- Sonic Healthcare Ltd.
- SYNLAB Bondco Plc
- Unilabs AB
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Clinical Reference Laboratory Services Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market growth 2021-2025 |
$ 26.09 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.15 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, UK, Germany, France, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
amedes Holding GmbH, Clinical Reference Laboratory Inc., Exact Sciences Corp., Mayo Medical Laboratories, OPKO Health Inc., Quest Diagnostics Inc., Sonic Healthcare Ltd., SYNLAB Bondco Plc, and Unilabs AB |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Clinical chemistry - Market size and forecast 2020-2025
- Human and tumor genetics - Market size and forecast 2020-2025
- Medical microbiology and cytology - Market size and forecast 2020-2025
- Other esoteric tests - Market size and forecast 2020-2025
- Market opportunity by Application
Market Segmentation by Service
- Market segments
- Stand-alone reference laboratories
- Hospital-based reference laboratories
- Clinic-based reference laboratories
Market Segmentation by End-user
- Market segments
- Hospitals and private clinics
- Corporate offices and companies
- Government entities
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- Asia - Market size and forecast 2020-2025
- ROW - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- amedes Holding GmbH
- Clinical Reference Laboratory Inc.
- Exact Sciences Corp.
- Mayo Medical Laboratories
- OPKO Health Inc.
- Quest Diagnostics Inc.
- Sonic Healthcare Ltd.
- SYNLAB Bondco Plc
- Unilabs AB
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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SOURCE Technavio
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