Clinical Laboratory Services Market Outlook, Demand and Forecast 2023-2028

[Business Point 2021]

IMARC Group has recently released a new research study titled “Clinical Laboratory Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the clinical laboratory services market?

The global clinical laboratory services market size reached US$ 231.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 322.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

What is the clinical laboratory services?

Clinical Laboratory Services play a crucial role in the field of healthcare by providing diagnostic testing and analysis of patient samples. These services encompass a wide range of laboratory tests that aid in disease detection, monitoring, and treatment. Clinical laboratories utilize advanced technologies and techniques to analyze samples such as blood, urine, tissue, and other bodily fluids to obtain accurate and reliable results. The results generated by these laboratories assist healthcare professionals in making informed decisions regarding patient care, facilitating disease management, and monitoring treatment effectiveness. Clinical Laboratory Services are essential in supporting medical practitioners, hospitals, clinics, and research institutions in delivering quality healthcare services and improving patient outcomes.

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What are the growth prospects and trends in the industry?

The global market is primarily driven by the rising incidence of chronic diseases, such as cardiovascular disorders, diabetes, cancer, and infectious diseases. In line with this, an enhanced focus in better patient outcomes resulting in the adoption of early disease detection, disease monitoring, and treatment management measures is propelling the market. Moreover, rapid advancements in laboratory technologies and automation systems such as the integration of advanced instruments, robotics, and artificial intelligence (AI) is providing an impetus to the market.

With an increasing number of geriatric population requiring regular health monitoring and disease management, is propelling the need for diagnostic tests and screenings across the globe. The shift towards personalized medicine, which involves tailoring treatment plans based on an individual's genetic makeup and specific disease characteristics, is fueling the demand for specialized laboratory tests on a global level.

Who are the key players operating in the industry?

The report covers the major market players including: 

Abbott Laboratories 
Becton, Dickinson and Company 
bioMérieux SA
Charles River Laboratories 
Hoffmann-La Roche Ltd
Illumina Inc. 
NeoGenomics Laboratories Inc.
Quest Diagnostics Incorporated
Siemens Healthcare GmbH 
Thermo Fisher Scientific Inc.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Test Type:

Human and Tumor Genetics
Clinical Chemistry
Medical Microbiology and Cytology
Others

Breakup by Service Provider:

Hospital-Based Laboratories
Stand-Alone Laboratories
Clinic-Based Laboratories

Breakup by Application:

Bioanalytical and Lab Chemistry Services
Toxicology Testing Services
Cell and Gene Therapy Related Services
Preclinical and Clinical Trial Related Services
Drug Discovery and Development Related Services
Others

Geographical Analysis: 

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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