Global Clinical Laboratory Services Market By Test Type (Clinical Chemistry, Immunology, Cytology, Microbiology, and Other Test Types), By Application (Bioanalytical & Lab Chemistry, Cell, And Gene Therapy, Toxicology Testing, Preclinical And Clinical Trials, Drug Discovery And Development, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 101504
- Number of Pages: 239
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Report Overview
The Global Clinical Laboratory Services Market size is expected to be worth around USD 213 Billion by 2022 from USD 352 Billion in 2032, growing at a CAGR of 5.3% during the forecast period from 2022 to 2032.
The industry is expanding as a result of factors like the growing demand for early diagnostic tests and the rising prevalence of chronic diseases. Additionally, during the forecast period, it is anticipated that rapid advancements in sample preparation and data management will drive industry expansion.
The lockdown, on the other hand, led to a decrease in routine testing in the first quarter of 2021; however, increased COVID-19 testing volume has gradually led to growth in the industry. The number of people infected with COVID-19 gradually increased. The requirement for swift testing has been significantly sparked by this. For instance, there were approximately 392 million confirmed cases, and 5.7 million reported deaths worldwide as of February 2022.
Key Takeaways
- The Global Clinical Laboratory Services Market is projected to reach approximately USD 213 billion by 2022.
- It is expected to decline from USD 352 billion in 2032.
- This decline will occur at a CAGR of 5.3% from 2022 to 2032.
- Clinical chemistry tests dominated the market in 2022, accounting for over 55% of the revenue share.
- Automation to improve the customer experience and human & tumor genetics tests are expected to experience the highest CAGR.
- Microbiology testing is growing at the fastest rate due to the increased prevalence of infectious diseases.
- In 2022, the bioanalytical & lab chemistry segment dominated the market, with the largest revenue share.
- Bioanalytical and lab chemistry laboratories employ various technology platforms and techniques for diagnostic purposes.
- Hospital-based laboratories had the maximum revenue share in 2022 and are expected to grow at the fastest CAGR.
- The high demand for quick tests, complex disease diagnostics, and hospital outreach programs are driving this segment’s growth.
- Standalone laboratories and other service providers are also showing potential for growth.
- The rise in the number of clinical labs, particularly in the independent sector, is creating opportunities.
Test Type Analysis
The clinical chemistry segment registered the largest revenue share in 2022
Based on test type, the clinical laboratory services market is segmented into clinical chemistry, immunology, cytology, microbiology, hematology, human & tumor genetics, endocrinology, and other test types. In 2022, the clinical chemistry segment had a revenue share of more than 55.0%.
The existence of several clinical chemistry tests involved in the pathology analysis of body fluids, including the analysis of urine, serum, plasma, and other body fluids, is credited with the segment’s dominance.
Basic diagnosis and laboratory testing both include clinical chemistry tests. Electrophoresis, immunoassay, and spectrophotometry are some of the methods used to measure the concentration of various kinds of molecules in the sample.
In the market, increasing automation to improve the customer experience is gaining traction. During the forecast period, it is anticipated that the human and tumor genetics tests segment will experience the highest CAGR.
In the context of hereditary and gene-mutation-related disorders, there has been an increase in intensive genetic and proteomic research. In addition, there is a growing demand in oncology for individualized care with a prompt and accurate diagnosis. The segment’s expansion is expected to be fueled by this.
The clinical laboratory services market’s microbiology testing segment is expanding at the quickest rate. Microbial testing is becoming increasingly important as the number of nosocomial, fungal, infectious, and bacterial parasitic infections rises. The segment’s expansion is sped up by the introduction of the new sequencing technology brought about by lower sequencing costs.
The purpose of microbiology research is to determine whether or not humans are infected with pathogenic microorganisms and their metabolites. In addition, microbial testing is widely utilized in HIV, syphilis, hepatitis, and Ebola treatment research. Additionally, it is utilized in a variety of industries, including the food and cosmetics industries, the healthcare industry, and disease diagnostics.
Application Analysis
The bioanalytical & lab chemistry segment dominated the market in 2022
Based on application, the clinical laboratory testing market is divided into bioanalytical & lab chemistry, cell & gene therapy, toxicology testing, preclinical & clinical trials, drug discovery & development, and other applications. In 2022, the bioanalytical & lab chemistry segment dominated the market with the largest revenue share.
To meet diagnostic requirements, bioanalytical and lab chemistry laboratories employ a variety of technology platforms and techniques. In bioanalytical and laboratory chemistry applications, the most frequently utilized technologies are ELISA, chromatography, mass spectroscopy, immunochemistry, and molecular biology. In drug discovery and development, bioanalytical services are an important tool for defining the concentration of drugs and their metabolites.
Service Provider Analysis
The hospital-based laboratory segment is anticipated to grow at the fastest CAGR over the forecast period
Based on the service provider, the market for clinical laboratory services is classified into standalone laboratories, hospital-based laboratories, clinic-based laboratories, and other service providers. With a maximum revenue share in 2022, the hospital-based laboratories segment is anticipated to expand at the fastest CAGR over the forecast period.
This is because there are a lot of patients who need their tests quickly, especially for serious and complex diseases that are more expensive. Due to the rising number of hospitals incorporating laboratories into their facilities, it is anticipated that it will maintain its dominance.
The segment is anticipated to be driven by the high turnaround rate of patients with major and complex diseases and the growing number of hospital outreach programs. For instance, in an all-cash agreement, Quest Diagnostics announced in October 2022 that it would acquire a share of Summa Health’s outreach laboratory services commercial.
Increasing patient access to laboratory services would benefit from this. Due to efforts to improve patient results by providing diagnostic facilities at the retail level, the standalone laboratories segment is anticipated to exhibit a lucrative CAGR over the forecast period. On a single campus, the Center for Breakthrough Medicines (CBM) has a separate safety testing facility from GMP activities.
Additionally, service providers will likely benefit from economies of scale if standalone labs are able to expedite the processing of large volumes of diagnostic tests and deliver superior results at prices that are comparable to those of larger labs. Since COVID-19, the standalone market has experienced rapid expansion. It is anticipated that standalone clinical lab service providers will also play a significant role in the segment’s expansion.
Key Market Segments
Based on the Test Type
- Clinical Chemistry
- Immunology
- Cytology
- Microbiology
- Hematology
- Human & Tumor Genetics
- Endocrinology
- Other Test Types
Based on Application
- Bioanalytical & Lab Chemistry
- Cell & Gene Therapy
- Toxicology Testing
- Preclinical & Clinical Trials
- Drug Discovery & Development
Based on the Service Provider
- Standalone Laboratories
- Hospital-Based Laboratories
- Clinic-Based Laboratories
- Other Service Providers
Drivers
The market will expand as more people become aware of disease management and early diagnosis
Early diagnosis of diseases like cancer, infection, and others can significantly increase the likelihood of successful treatment. As a result, it is a significant public health strategy. To raise awareness of early diagnosis, numerous initiatives were launched by various governments and international organizations.
In addition, a number of emerging diseases have the potential to cause significant economic harm as well as significant morbidity and mortality. During the forecast period, the market size is anticipated to be fueled by government efforts to prevent emerging diseases.
Global Clinical Laboratory Services Market Driven by Growing Geriatric Population
Life expectancy has risen significantly, especially in developed nations, as a result of improved access to healthcare and rising healthcare costs. As the elderly population has risen, age-related disorders have grown significantly. This, in turn, is increasing the annual number of clinical tests done. Cancer, diabetes, and cardiovascular diseases are common conditions that can affect people over 50.
Restraints
The lack of diagnostic tests is restricting the market growth
For many diseases, half of the world’s population does not have access to basic diagnostic services at all. The management of both communicable and non-communicable diseases is significantly influenced by the consistency of clinical laboratory services. Additionally, primary care is the most affected by the diagnostic gap. Only about 20 percent of people in low- and middle-income countries have access to basic diagnostic tests (other than those for HIV or malaria).
Additionally, the shift from lab-based diagnosis to home-based/point-of-care testing procedures and the price pressure that healthcare payers and providers face are expected to impede market expansion. The clinical laboratory services market is anticipated to be challenged during the forecast period by public concerns regarding data security and privacy.
Opportunity
In the coming years, the number of clinical labs is expected to rise to create more opportunities
The constant pressure to cut healthcare costs is making the laboratory a more important part of the treatment plan and shifting healthcare utilization in its favor. Since there is less time spent in the hospital and less time spent talking to the patient’s doctor, it is more important for labs to get accurate information to the doctor quickly and accurately. As these trends continue to have an impact on the industry, it can be anticipated to an increase in the number of clinical labs, particularly in the independent sector.
The burden of target disease, rising investments, and stringent regulations are subject to create numerous opportunities for market growth
One of the opportunities in the market for clinical laboratory services is the rising incidence of target diseases like tuberculosis, diphtheria, poliomyelitis, and measles. The market’s expansion is also accelerated by the rising demand for regulatory-compliant laboratory services and due to the rise in public-private investments as well as research grants and funding for the creation of novel laboratory testing procedures.
Regional Analysis
North America is accounted as the largest market for clinical laboratory services
Based on regions, the global clinical laboratory services market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to the presence of a well-established healthcare system and reimbursement framework for clinical lab services, the growing geriatric population, and the prevalence of chronic diseases, it is also anticipated that North America will experience significant growth.
In addition, key players concentrate on creating novel tests. For instance, at the American Association for Clinical Chemistry (AACC) Clinical Lab Expo in July 2022, Abbott demonstrated new diagnostic techniques that would improve patient care. The American Clinical Laboratory is a national trade group that represents leading clinical labs that provide patients and healthcare professionals with crucial diagnostic information.
Asia Pacific is predicted as the fastest-growing market for clinical laboratory services during the forecast period
During the forecast period, Asia-Pacific is anticipated to be the region’s fastest-growing market at a significant CAGR. The numerous scientific research activities, high unmet medical needs, economic expansion, and improving healthcare regulatory conditions all contribute to the rapid expansion.
In addition, the availability of high-end medical treatments, rising public awareness of healthcare benefits, and positive changes in healthcare benefits are anticipated to support the region’s expansion. Due to the growing demand for testing, clinical laboratories have gained a lot of importance during the COVID-19 pandemic. Collaborations for the provision of new lab testing services are the primary focus of key players.
Key Regions
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
There are a lot of local and international companies operating in the clinical laboratory services market, which is highly competitive. Local companies are also focusing on providing innovative services to the public, which enables them to establish their significant position in this market. Global players hold a significant share of the market.
It is anticipated that few new players will enter the market in the future due to the growing demand for technology, with these established players gaining a significant share. Geographic expansion, partnerships, and strategic collaborations with other companies are the primary priorities of the industry’s major players, particularly in developing and economically prosperous regions.
Market Key Players
- QIAGEN N.V.
- OPKO Health
- Siemens Medical Solutions USA, Inc.
- Quest Diagnostics
- Abbott Laboratories
- NeoGenomics Laboratories, Inc
- Fresenius Medical Care AG & Co.
- Sonic Healthcare Limited
- Associated Regional and University Pathologists, Inc.
- Laboratory Corporation of America Holdings,
- Other Key Players
Recent Developments
- In March 2022, Illumina Inc. introduced TruSight oncology, a single test that can evaluate a variety of tumor genes and biomarkers to determine a patient’s specific genetic makeup.
- In October 2021, The Cobas pure integrated solutions analyzer, developed by the Indian division of Roche Diagnostics, features a more advanced system that makes it suitable for numerous hospitals and labs in the country.
Report Scope
Report Features Description Market Value (2022) US$ 213 Bn Forecast Revenue (2032) US$ 352 Bn CAGR (2023-2032) 5.3% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Test Type – Clinical Chemistry, Immunology, Cytology, Microbiology, Hematology, Human & Tumor Genetics, Endocrinology, and Other Test Types; By Application – Bioanalytical & Lab Chemistry, Cell & Gene Therapy, Toxicology Testing, Preclinical & Clinical Trials, Drug Discovery & Development, and Other Applications; By Service Provider – Standalone Laboratories, Hospital-Based Laboratories, Clinic-Based Laboratories, and Other Service Providers Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape QIAGEN N.V., OPKO Health, Siemens Medical Solutions USA, Inc., Quest Diagnostics, Abbott Laboratories, NeoGenomics Laboratories, Inc, Fresenius Medical Care AG & Co., Sonic Healthcare Limited, Associated Regional and University Pathologists, Inc., Laboratory Corporation of America Holdings, Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
Who are the key players in the clinical laboratory service market?Some of the key service providers in the market include QIAGEN N.V., OPKO Health, Siemens Medical Solutions USA, Inc., Quest Diagnostics, Abbott Laboratories, NeoGenomics Laboratories, Inc, Fresenius Medical Care AG & Co., Sonic Healthcare Limited, Associated Regional and University Pathologists, Inc., Laboratory Corporation of America Holdings,, Other Key Players.
How big is the clinical laboratory service market?Clinical Laboratory Services Market size is expected to be worth around USD 213 Billion by 2022 from USD 352 Billion in 2032, growing at a CAGR of 5.3% during the forecast period from 2022 to 2032.
What is the clinical laboratory service market growth?The global clinical laboratory service market is expected to grow at a compound annual growth rate of 5.3% from 2023 to 2032 to reach USD 352 billion by 2032.
Clinical Laboratory Services MarketPublished date: Oct 2023add_shopping_cartBuy Now get_appDownload Sample - QIAGEN N.V.
- OPKO Health
- Siemens Medical Solutions USA, Inc.
- Quest Diagnostics
- Abbott Laboratories
- NeoGenomics Laboratories, Inc
- Fresenius Medical Care AG & Co.
- Sonic Healthcare Limited
- Associated Regional and University Pathologists, Inc.
- Laboratory Corporation of America Holdings,
- Other Key Players
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