ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ -- Transparency Market Research has now published a new research report that offers a detailed information about the global clinical laboratory services market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
According to the report, the global clinical laboratory services market was valued at US$ 232.6 Bn in 2018 and is projected to expand at a CAGR of 6.3% from 2019 to 2027. Given the rate of growth, the global clinical laboratory services market is expected to reach a valuation worth US$403.7 Bn by the fall of 2027.
Global Clinical Laboratory Services Market – Overview
Based on test types, the global clinical laboratory services market has been divided into clinical chemistry, medical microbiology & cytology, food intolerance test human and tumor genetics, and other esoteric tests.
The clinical chemistry segment dominated the global clinical laboratory services market in 2018 and the trend is projected to continue during the forecast period.
In terms of service provider, the global clinical laboratory services market has been classified into stand-alone laboratories, hospital based laboratories, CROs, and others.
The stand-alone laboratories segment dominated the clinical laboratory services market due to Increasing testing volumes and entry of new players.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Clinical Laboratory Services Market (Test Type - Clinical Chemistry, Medical Microbiology and Cytology, Food Intolerance Tests, Human and Tumor Genetics, and Other Esoteric Tests; Service Provider - Stand Alone Laboratories, Hospital based Laboratories, and Contract Research Organizations (CROs)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/414
Global Clinical Laboratory Services Market – Key Driving Factors
Incidence of chronic and infectious diseases is anticipated to rise at an alarming rate during the forecast period
Chronic diseases such as cardiovascular diseases, obesity, cancer, and diabetes are affecting several people worldwide
The rise in these non-communicable chronic diseases is due to urbanization and adoption of unhealthy life styles.
According to Centers of Disease control and Prevention (CDC) more than 60% of preventable deaths worldwide are caused due to non-communicable diseases
In developing countries 48% of such deaths occur in persons above 70 years of age. The incidence of chronic diseases is also increasing rapidly in Africa.
Incidence of infectious diseases such as HIV, hepatitis, and other viral diseases has also been rising in the world
World Health Organization (WHO) forecast that 13 million deaths would occur due to infectious diseases till 2050
These factors have led to increasing demand for clinical laboratory testing, and are expected to drive the clinical laboratory services market from 2019 to 2027
Global Clinical Laboratory Services Market – Key Players
Key players in the global clinical laboratory services market include Charles River Laboratories International, Inc., OPKO Health, Inc., Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Sonic Healthcare, Fresenius Medical Care Holdings, Inc. (Spectra), NeoGenomics Laboratories, Inc., Genomic Health, Inc., SYNLAB International GmbH, UNILABS, ARUP Laboratories, Eurofins Scientific, GENOPTIX, ALERE,INC., among others
The global clinical laboratory services market has been segmented as follows:
Global Clinical Laboratory Services Market, by Test Types
Medical Microbiology and Cytology
Food Intolerance Test
Human and Tumor Genetics
Other Esoteric Tests
Global Clinical Laboratory Services Market, by Service Providers
Hospital based laboratories
CROs (Contract Research Organizations)
Global Clinical Laboratory Services Market, by Region
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin Americ
Middle East & Africa
Rest of Middle East & Africa
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Clinical Chemistry Analyzers Market: The clinical chemistry analyzers market has continually witnessed innovations predominantly driven by the evolution of technology. Ongoing R&D activities, coupled with integration of advanced software technologies in clinical laboratories are expected to shape the future of clinical chemistry analyzers. Furthermore, stakeholders are likely to develop new products that are in-sync with the requirements of laboratories.
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