U.S. Clinical Laboratory Test Market Size to Reach Revenues of USD 106.05 Billion by 2026 - Arizton

CHICAGO, June 15, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this U.S. clinical laboratory test market report.

The U.S. clinical laboratory test market is expected to grow at a CAGR of over 1.97% during the period 2020−2026.

Key Highlights Offered in the Report:  

1. The percentage share of specialty tests in the US clinical laboratory testing market was 57.61% during the year 2020.
2. The hospital-based laboratories segment dominated the US clinical laboratory testing market by capturing the market share of 52.19% in the base year 2020.
3. The clinical and the immunochemistry tests in the test type segment dominated the market and captured more than 50% during the year 2020 and expected to remain dominant during the forecast period with an absolute growth of 13.75%.
4. The growth in the US clinical laboratory testing market is attributed to the laboratory automations and the implementation of artificial intelligence and the machine learning into the laboratory equipment which helps in performing the huge number of test volumes with speed and accuracy.
5. The demand for technologists and other lab professionals has increased in recent years, especially since March 2020, the number of training programs that build lab skills has dropped in the US and since the year 2000, training programs available in the US decreased more than 5%. It is estimated that there are only around 338,000 medical laboratory professionals in the US, and they are serving a population of just over 330 million, indicating the demand for the lab professionals.

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by test complexity, providers, and test type
• Competitive Landscape – 7 key vendors and 6 other vendors

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U.S. Clinical Laboratory Test Market – Segmentation

• Providers including POLs, hospital-based laboratories, and independent laboratories that perform CLIA-waived tests are gaining popularity in the country. An increasing number of innovative CLIA-waived tests will greatly expand access to beneficial clinical diagnostic testing across the US.
• According to the estimations of CMS, there are approximately 9,100 hospital-based laboratories in the country. The hospitals maintain on-site laboratories and perform laboratory tests for in-patient and outpatients with a significant majority. The profitability of the hospital laboratories rose to 85% due to the hospital outreach programs.
• Immunology and serology tests are witnessing increasing demand during the COVID-19 pandemic. The trend of early diagnosis and the disease management awareness among the population in the US are the major factors attributing to the increase in test volumes in the clinical and immunochemistry segment.

U.S. Clinical Laboratory Test Market by Test Complexity

• Routine Tests
• Specialty Tests

U.S. Clinical Laboratory Test Market by Providers

• Hospital Based Laboratories
• Independent Reference Laboratories
• Physician office laboratories
• Other laboratories

U.S. Clinical Laboratory Test Market by Test Type

• Clinical and Immunochemistry
• Microbiology and Cytology
• Genetics and Cytogenetics (Molecular Diagnostics)
• Hematology
• Toxicology

U.S. Clinical Laboratory Test Market – Dynamics

Digital pathology solutions are computerized and digital slides-based systems for managing and accessing the information. Here the digital slides represent glass microscopic slides which can be viewed at any magnifications and can be accessed anywhere across the globe, which delivers rapid and accurate results. The workflow process in the digital pathology solutions involves capturing the slides along with the samples by using digital scanners, storing the captured slides, the magnification process followed by computerized analysis of digital slides and diagnosis. Capturing the slides is performed with high resolution scanning with intense color depth to ease the magnification process, thereby promoting crisp diagnosis. Whole slide imaging technology is employed to achieve the high-resolution images, which, in turn, make the digitalization of sample slides more beneficial and easier to transfer. The digital pathology is trending with its innovation, reduced laboratory costs, better operational efficiency, which result in improved decision making among pathologists.

Key Drivers and Trends fueling Market Growth:

• End-users Increasing Focus on Lab Automation
• Increasing Availability of DTC Diagnostics Services by Clinical Laboratories
• Growing Prevalence of Chronic & Acute Diseases
• Rising Popularity of Early Disease Diagnosis & Prevention

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Major Vendors

• BioReference Laboratories
• Eurofins Scientific
• Laboratory Corporation of America
• Mayo Clinic Laboratories
• Quest Diagnostics
• Siemens Healthineers
• Sonic Healthcare

Other Prominent Vendors

• ARUP Laboratories
• Clinical Reference Laboratory
• DaVita
• Fresenius Medical Care
• Laboratory of Florida
• US Speciality Labs 

Explore our healthcare & lifesciences profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence