Global Clinical Reference Laboratory Services Market to Grow 5.89% by 2020 - Application of Advanced Robotics Technology in Reference Laboratories - Research and Markets

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Oct 10, 2016, 01:10 ET

DUBLIN, October 10, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Clinical Reference Laboratory Services Market 2016-2020" report to their offering.

The report forecasts the global clinical reference laboratory services market to grow at a CAGR of: 5.89% during the period 2016-2020.

Focusing on real-time and digitalized treatment will be a key trend for market growth. Diagnosis enables disease management and individualized treatment and provides real-time and quick results. Tests such as glycated hemoglobin, blood glucose monitoring tests, cholesterol monitoring, and monitoring of antiretroviral drug levels in the blood will help in obtaining diagnostic information and reducing the complications. Personalizing these treatments will allow better channeling of diagnostic information. In November 2014, GE Healthcare developed the Omnyx digital technology platform for diagnosis of cancer. The platform helps clinicians evaluate an individual's medical history, prescribe more tests if required, and deliver findings to oncologists. Real-time and digitalized treatment such as personalized therapy will help improve disease diagnosis and treatment, and improve outcome.

According to the report, value-based outsourcing will be the major focus from hospitals to clinical reference laboratories. In the past, these financial incentives for radiology department or laboratory services made major contributions to the hospital bottom line. The market is moving from fee-for-service to value-based-care model to boost laboratory services and imaging or radiology services to the outsourcing diagnostic vendors. Companies such as Inspirata and Aurora Diagnostics are raising bids for outsourced diagnostic hospital contracts. In the forecast period, value-based outsourcing services will be the major market driver globally.

Further, the report states that for quality patient care, patient blood specimen identification is critical. Misidentified specimens can lead to delayed diagnosis, additional laboratory testing, and wrong treatment for the wrong disease. The occurrence rates of specimen identification errors were reported to be around 0.1%-6.5%.

Key vendors:

BioReference Laboratories
Cinven
Laboratory Corporation of America
Quest Diagnostics

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by application

PART 07: Market segmentation by service provider

PART 08: Market segmentation by end-user

PART 09: Geographical segmentation

PART 10: Market drivers

PART 11: Impact of drivers

PART 12: Market challenges

PART 13: Impact of drivers and challenges

PART 14: Market trends

PART 15: Vendor landscape

PART 16: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/hz4lc5/global_clinical

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SOURCE Research and Markets