Global Clinical Laboratory Services Industry

NEW YORK, July 14, 2020 /PRNewswire/ -- Amid the COVID-19 crisis, the global market for Clinical Laboratory Services estimated at US$96.8 Billion in the year 2020, is projected to reach a revised size of US$135.5 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027.Hospital-based Laboratories, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach US$78.3 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Independent Laboratories segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 38.3% share of the global Clinical Laboratory Services market.

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The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 4.7% CAGR for the Period of 2020-2027
The Clinical Laboratory Services market in the U.S. is estimated at US$28.5 Billion in the year 2020. The country currently accounts for a 29.47% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$24.1 Billion in the year 2027 trailing a CAGR of 4.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$24.1 Billion by the year 2027.

Physician Office-based Laboratories Segment Corners a 2.8% Share in 2020
In the global Physician Office-based Laboratories segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.2 Billion in the year 2020 will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.2 Billion by the year 2027.We bring years of research experience to this 19th edition of our report. The 218-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

-Competitors identified in this market include, among others,

• ADICON Clinical Laboratories, Inc.
• American Esoteric Laboratories
• ARUP Laboratories
• Bio-Reference Laboratories, Inc.
• Bioscientia Institut für Medizinische Diagnostik GmbH
• DaVita, Inc.
• Dynacare
• Enzo Clinical Labs
• Genoptix, Inc.
• Genova Diagnostics, Inc.
• Laboratory Corporation of America Holdings
• NeoGenomics Laboratories
• Quest Diagnostics, Inc.
• Sonic Healthcare Limited
• Spectra Laboratories, Inc.
• SYNLAB International GmbH
• The National Health Laboratory Service
• Thyrocare Technologies Limited
• Unilabs SA

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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Clinical Laboratory Services - An Overview
Growth of Specialty Labs
Recent Market Activity
Outlook
Developed Nations: Cost Pressures Necessitate New Strategies
Despite Challenges, Emerging Markets Provide Growth Opportunities
Routine Testing Takes the Lead; Esoteric Testing Services Drive
Growth
Key Market Drivers
Growth Contributing Factors in a Gist
Rising Healthcare Needs of Aging Global Population
Increase in Healthcare Spending in Emerging Markets
Increasing Awareness Levels
Need to Cut Healthcare Costs
Rising Incidence of Diseases
Increasing Role of Clinical Labs in Testing Infectious Diseases
Global Competitor Market Shares
Clinical Laboratory Services Competitor Market Share Scenario
Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
ADICON Clinical Laboratories, Inc. (China)
ARUP Laboratories (USA)
Bio-Reference Laboratories, Inc. (USA)
DaVita, Inc. (USA)
Enzo Clinical Labs (USA)
Genova Diagnostics, Inc. (USA)
Kingmed Diagnostics (China)
Laboratory Corporation of America Holdings (USA)
Dynacare (Canada)
Mayo Clinic Laboratories (USA)
NeoGenomics Laboratories (USA)
Genoptix, Inc. (USA)
Quest Diagnostics, Inc. (USA)
Sonic Healthcare Limited (Australia)
Bioscientia Institut für Medizinische Diagnostik GmbH (Germany)
American Esoteric Laboratories (USA)
Spectra Laboratories, Inc. (USA)
SYNLAB International GmbH (Germany)
The National Health Laboratory Service (South Africa)
Thyrocare Technologies Limited (India)
Unilabs SA (Switzerland)

3. MARKET TRENDS & DRIVERS
Need for Clinical Laboratories to Reinvent Business Models
Laboratory Informatics Offers Opportunities to Streamline
Operations
Transforming Hospital Laboratory into a Profit Center
Laboratory Specific IT Platforms Provide a Business Case for
Outreach Programs
Hospital Outreach Laboratories Deliver Better Value to Larger
Organizations
Managing and Measuring Value
Manufacturers Leveraging Expertise to Address Requirements of
Laboratories
Factors Impacting Laboratories
Moving Towards Value Driven Healthcare
Maximizing ROI in a Low Cost Environment
Making Most of Global Best Practices
Advent of Novel Devices Fuel growth for Clinical Laboratory
Services Market
Biobanks Gain Prominence
Home Based Systems Go Digital
Drones Emerging as Cost Effective and Efficient Mode for
Transporting Samples
Innovative Strategies of Clinical Laboratories at Health Systems
Creation of Standardized Medical Laboratory Services
Laboratory Testing Industry Faces Unique Investor Led Disruption
Divergent Paths for Independent Labs and Health System Labs
Factors Affecting Divergence
Supporting ACO Requirements
Transformations in Healthcare
Integrated Care Support
Population Health Initiatives
Home-Field Benefits
Evolving Clinical Laboratory Sector to Drive Diverse Lab Test
Segment Market Share
Key Market Differentiators
Real-Time Lab Data Access
IVD Market Growth: An Indication of Growth in Clinical Labs Market
New Technologies and Tests Drive Demand for Specific Testing
Increasing Role of Advanced Tests in Clinical Treatment
Decision Making
Increasing Opportunities in Personalized Medicine and Clinical
Trial Services
Cancer Testing Market: Opportunity for Clinical Labs
Shortened Hospitalization Enhances Significance of Medical Labs
Lab Automation Speeds Up
Standardization Gains Precedence in the Hunt for Automation
Heightened Use of IT Systems in Clinical Laboratories
Assessing the Impact of Point-of-Care Testing on Clinical Labs
Autoimmune Disease Testing: Labs Seek Cost-Effective & High
Productivity Options
POLs: Reducing Turnaround Times for Testing
POL Market Succumbs to Cost Pressures
Laboratory Outsourcing Trend Gains Strength
Value-Based Outsourcing of Services to Take Center Stage
Challenges Facing Lab Testing Market
Dependence on Third Parties
Lack of Skilled Workers

4. GLOBAL MARKET PERSPECTIVE
Table 1: Clinical Laboratory Services Global Market Estimates
and Forecasts in US$ Million by Region/Country: 2020-2027

Table 2: Clinical Laboratory Services Global Retrospective
Market Scenario in US$ Million by Region/Country: 2012-2019

Table 3: Clinical Laboratory Services Market Share Shift across
Key Geographies Worldwide: 2012 VS 2020 VS 2027

Table 4: Hospital-based Laboratories (Location) World Market by
Region/Country in US$ Million: 2020 to 2027

Table 5: Hospital-based Laboratories (Location) Historic Market
Analysis by Region/Country in US$ Million: 2012 to 2019

Table 6: Hospital-based Laboratories (Location) Market Share
Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS
2027

Table 7: Independent Laboratories (Location) Potential Growth
Markets Worldwide in US$ Million: 2020 to 2027

Table 8: Independent Laboratories (Location) Historic Market
Perspective by Region/Country in US$ Million: 2012 to 2019

Table 9: Independent Laboratories (Location) Market Sales
Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027

Table 10: Physician Office-based Laboratories (Location)
Geographic Market Spread Worldwide in US$ Million: 2020 to 2027

Table 11: Physician Office-based Laboratories (Location) Region
Wise Breakdown of Global Historic Demand in US$ Million: 2012
to 2019

Table 12: Physician Office-based Laboratories (Location) Market
Share Distribution in Percentage by Region/Country: 2012 VS
2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
US Clinical Laboratory Services Market Share (in %) by Company:
2020 & 2025
Market Analytics
Table 13: United States Clinical Laboratory Services Market
Estimates and Projections in US$ Million by Location: 2020 to
2027

Table 14: Clinical Laboratory Services Market in the United
States by Location: A Historic Review in US$ Million for
2012-2019

Table 15: United States Clinical Laboratory Services Market
Share Breakdown by Location: 2012 VS 2020 VS 2027

CANADA
Table 16: Canadian Clinical Laboratory Services Market
Estimates and Forecasts in US$ Million by Location: 2020 to
2027

Table 17: Canadian Clinical Laboratory Services Historic Market
Review by Location in US$ Million: 2012-2019

Table 18: Clinical Laboratory Services Market in Canada:
Percentage Share Breakdown of Sales by Location for 2012, 2020,
and 2027

JAPAN
Table 19: Japanese Market for Clinical Laboratory Services:
Annual Sales Estimates and Projections in US$ Million by
Location for the Period 2020-2027

Table 20: Clinical Laboratory Services Market in Japan:
Historic Sales Analysis in US$ Million by Location for the
Period 2012-2019

Table 21: Japanese Clinical Laboratory Services Market Share
Analysis by Location: 2012 VS 2020 VS 2027

CHINA
Table 22: Chinese Clinical Laboratory Services Market Growth
Prospects in US$ Million by Location for the Period 2020-2027

Table 23: Clinical Laboratory Services Historic Market Analysis
in China in US$ Million by Location: 2012-2019

Table 24: Chinese Clinical Laboratory Services Market by
Location: Percentage Breakdown of Sales for 2012, 2020, and
2027

EUROPE
Market Facts & Figures
European Clinical Laboratory Services Market: Competitor Market
Share Scenario (in %) for 2020 & 2025
Market Analytics
Table 25: European Clinical Laboratory Services Market Demand
Scenario in US$ Million by Region/Country: 2020-2027

Table 26: Clinical Laboratory Services Market in Europe:
A Historic Market Perspective in US$ Million by Region/Country
for the Period 2012-2019

Table 27: European Clinical Laboratory Services Market Share
Shift by Region/Country: 2012 VS 2020 VS 2027

Table 28: European Clinical Laboratory Services Market
Estimates and Forecasts in US$ Million by Location: 2020-2027

Table 29: Clinical Laboratory Services Market in Europe in US$
Million by Location: A Historic Review for the Period 2012-2019

Table 30: European Clinical Laboratory Services Market Share
Breakdown by Location: 2012 VS 2020 VS 2027

FRANCE
Table 31: Clinical Laboratory Services Market in France by
Location: Estimates and Projections in US$ Million for the
Period 2020-2027

Table 32: French Clinical Laboratory Services Historic Market
Scenario in US$ Million by Location: 2012-2019

Table 33: French Clinical Laboratory Services Market Share
Analysis by Location: 2012 VS 2020 VS 2027

GERMANY
Table 34: Clinical Laboratory Services Market in Germany:
Recent Past, Current and Future Analysis in US$ Million by
Location for the Period 2020-2027

Table 35: German Clinical Laboratory Services Historic Market
Analysis in US$ Million by Location: 2012-2019

Table 36: German Clinical Laboratory Services Market Share
Breakdown by Location: 2012 VS 2020 VS 2027

ITALY
Table 37: Italian Clinical Laboratory Services Market Growth
Prospects in US$ Million by Location for the Period 2020-2027

Table 38: Clinical Laboratory Services Historic Market Analysis
in Italy in US$ Million by Location: 2012-2019

Table 39: Italian Clinical Laboratory Services Market by
Location: Percentage Breakdown of Sales for 2012, 2020, and
2027

UNITED KINGDOM
Table 40: United Kingdom Market for Clinical Laboratory
Services: Annual Sales Estimates and Projections in US$ Million
by Location for the Period 2020-2027

Table 41: Clinical Laboratory Services Market in the United
Kingdom: Historic Sales Analysis in US$ Million by Location for
the Period 2012-2019

Table 42: United Kingdom Clinical Laboratory Services Market
Share Analysis by Location: 2012 VS 2020 VS 2027

REST OF EUROPE
Table 43: Rest of Europe Clinical Laboratory Services Market
Estimates and Forecasts in US$ Million by Location: 2020-2027

Table 44: Clinical Laboratory Services Market in Rest of Europe
in US$ Million by Location: A Historic Review for the Period
2012-2019

Table 45: Rest of Europe Clinical Laboratory Services Market
Share Breakdown by Location: 2012 VS 2020 VS 2027

ASIA-PACIFIC
Table 46: Clinical Laboratory Services Market in Asia-Pacific
by Location: Estimates and Projections in US$ Million for the
Period 2020-2027

Table 47: Asia-Pacific Clinical Laboratory Services Historic
Market Scenario in US$ Million by Location: 2012-2019

Table 48: Asia-Pacific Clinical Laboratory Services Market
Share Analysis by Location: 2012 VS 2020 VS 2027

REST OF WORLD
Table 49: Rest of World Clinical Laboratory Services Market
Estimates and Forecasts in US$ Million by Location: 2020 to
2027

Table 50: Rest of World Clinical Laboratory Services Historic
Market Review by Location in US$ Million: 2012-2019

Table 51: Clinical Laboratory Services Market in Rest of World:
Percentage Share Breakdown of Sales by Location for 2012, 2020,
and 2027

IV. COMPETITION

Total Companies Profiled: 131
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