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Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Clinical Laboratory Tests Market
Clinical Laboratory Tests Market
Clinical Laboratory Tests Market
Published date: Nov 2023 • Formats:
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  • Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Clinical Laboratory Tests Market

Global Clinical Laboratory Tests Market By Type (Complete Blood Count, HGB/ HCT testing, and Other Types), By Service Provider, By Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023 – 2032

  • Published date: Nov 2023
  • Report ID: 44492
  • Number of Pages: 231
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Driving Factor
    • Restraining Factor
    • By Type Analysis
    • By Service Provider Analysis
    • Key Market Segments
    • Growth Opportunity
    • Latest Trends
    • Regional Analysis
    • Key Regions and Countries
    • Key Player Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    Global Clinical Laboratory Tests Market size is expected to be worth around USD 256.3 Billion by 2032 from USD 105.8 Billion in 2022, growing at a CAGR of 9.5% during the forecast period from 2023 to 2032.

    Clinical laboratory tests involve a collection of samples like blood, urine, tissue, and other biological matters from the patient through the medical professional. Medical professionals then analyze and examine these samplings using various equipment and instruments. The final report is prepared on the basis of the results of tests performed on the samples.

    Clinical Laboratory Tests Market by Size

    *Actual Numbers Might Vary In The Final Report

    The report contains the conclusion of the tests. This whole process is done under clinical laboratory tests. Medical professionals advise clinical laboratory tests to detect the abnormalities in the samples and diagnose the diseases or deficiencies in the patient. It involves tests like complete blood count, comprehensive metabolic panel, urinalysis, and many other tests.

    With the growing healthcare sector, the clinical laboratory tests market is also experiencing significant growth. Many governments worldwide are heavily spending on the healthcare sector to improve the average life expectancy in the country. Due to this, the market is experiencing significant growth.

    Individuals across the world have become more health conscious; therefore, many individuals prefer to monitor their health regularly. Therefore, individuals prefer clinical laboratory tests to monitor their health. This is propelling the growth of the global market.

    Key Takeaways

    • In 2022, the Global Clinical Laboratory Tests Market was valued at US$ 105.8 Billion.
    • The market will reach US$ 256.3 Billion by 2032.
    • During the forecast from 2023 to 2032, the market is expected to register a CAGR of 9.5%.
    • 17.7 million individuals died worldwide in 2021 due to various cardiovascular diseases.
    • North America covers the major revenue share of the Clinical Laboratory Tests Market at 43.6%.
    • According to the American Cancer Society, cancer is one of the leading causes of death in the North American region.
    • The Clinical Laboratory Tests Market contains various types, including HGB/ HCT testing, Basic Metabolic Panel Testing, HbA1c Testing, Electrolytes Testing, and other types.
    • Among these types, HbA1c testing dominates the segment by accounting for the major revenue share due to patients with cholesterol and diabetes abnormalities.
    • After HbA1c testing, HGB/ HCT testing is expected to experience the fastest growth.
    • Based on service providers, the market is divided into hospital-based laboratories, clinic-based laboratories, and stand-alone laboratories.
    • Stand-alone laboratories hold the major revenue share.

    Driving Factor

    Rising Chronic Diseases and Increasing Health Awareness are Driving the Growth of the Global Clinical Laboratory Tests Market.

    Chronic diseases like obesity, cancer, diabetes, and cardiovascular diseases are affecting more and more individuals across the world. Pollution, a sedentary lifestyle, climate change, and an aging population are some of the main reasons for the rise in the chronic diseases of patients. Due to this rise in chronic disease patients, the demand for lab testing has risen significantly in the last few years.

    Many companies have entered the global clinical laboratory tests market due to the continuously growing market and rising healthcare expenditure. All these key factors are positively affecting the growth of the global market. Moreover, the rising awareness about health among individuals is also positively impacting the market. Many individuals have to monitor their health status on a regular basis. Therefore, they have to undergo various lab tests again and again. This is driving the growth of the market.

    Restraining Factor

    Complex Regulatory Framework is Expected to Hamper the Growth of the Global Clinical Laboratory Tests Market.

    With the rising prevalence of chronic diseases, the demand for various lab tests has risen significantly. However, the complex regulatory framework associated with clinical laboratory tests is expected to hamper the growth of the global clinical laboratory tests market.

    Healthcare regulatory bodies like the U.S. FDA and EMA have introduced stringent regulations and protocols to be complied with by clinical laboratories. It includes many stringent regulations and protocols that are hard for many clinical laboratories to comply with. Many companies in the clinical laboratory tests market are unable to match the standards set by these regulatory authorities. This is expected to restrict the growth of the global clinical laboratory tests market.

    By Type Analysis

    HbA1c Testing Dominates the Type Segment by Covering Major Revenue Share in Account.

    Based on type, the global clinical laboratory tests market is classified into complete blood count, HGB/ HCT testing, basic metabolic panel testing, HbA1c testing, electrolytes testing, and other types. Among these types, HbA1c testing dominates the segment by accounting for the major revenue share. This domination of HbA1c testing is owing to the growing number of patients with cholesterol and diabetes abnormalities.

    Patients with continuously fluctuating HbA1c tend to face high risks. Moreover, the introduction of new laboratory tests for HbA1c testing is expected to affect positively. These key factors are driving the growth of HbA1c testing in the type segment of the global clinical laboratory tests market. After HbA1c testing, HGB/ HCT testing is expected to experience the fastest growth during the forecast period. The rising prevalence of blood-related diseases is driving the growth of HGB/ HCT testing in the type segment of the global clinical laboratory tests market.

    By Service Provider Analysis

    Stand-Alone Laboratories Lead the Segment by Securing Major Revenue Share in Account.

    On the basis of service providers, the global clinical laboratory tests market is classified into hospital-based laboratories, clinic-based laboratories, and stand-alone laboratories. From these service providers, stand-alone laboratories hold the major revenue share account to dominate the service provider segment in the global clinical laboratory tests market.

    Clinical Laboratory Tests Market By Service Provider

    The growth of stand-alone laboratories is attributed to the huge number of test samples from various healthcare-related fields like clinical research centers, insurance companies, and physicians. The ability of stand-alone laboratories to provide quick results and easy processes for patients helps the stand-alone laboratories to dominate the segment. These key factors are driving the growth of stand-alone laboratories in the service provider segment of the global clinical laboratory tests market.

    Key Market Segments

    Type

    • Complete Blood Count
    • HGB/ HCT testing
    • Basic Metabolic Panel Testing
    • HbA1c Testing
    • Electrolytes Testing
    • Other Types

    Service Provider

    • Hospital Based Laboratories
    • Stand-alone Laboratories
    • Clinic Based Laboratories

    Growth Opportunity

    Increasing Focus on Accurate and Efficient Testing Equipment is Expected to Create Many Opportunities Over the Forecast Period.

    The demand for clinical laboratory tests is continuously rising due to factors like the rising geriatric population and increasing health consciousness. Therefore, to fulfill this market demand and to increase the accuracy of testing, many major companies in the global market are focusing on the development of more efficient and accurate tests and equipment used in these laboratories.

    The major companies are also investing in the development of proper management systems for the samples. A huge number of samples are collected daily across the world. Therefore, to manage these samples more accurately, companies are focusing on advanced management systems. These key factors are anticipated to create many lucrative opportunities in the global market over the forecast period.

    Latest Trends

    The prevalence of Chronic Diseases is Forcing Individuals to Undergo Various Lab Tests regularly

    Rising health awareness among individuals is positively affecting the growth of the global clinical laboratory tests market. Many individuals undergo various lab tests to monitor their health activity. Individuals with various diseases like diabetes, cancer, cardiovascular diseases, and many other diseases have to undergo various tests on a regular basis.

    According to WHO, worldwide 17.7 million individuals died in 2021 due to various cardiovascular diseases. Therefore, to maintain good health and monitor their health situation, many individuals have to undergo lab tests on a regular basis. This is positively affecting the growth of the global market.

    Regional Analysis

    North America Dominates the Global Clinical Laboratory Tests Market by Covering the Major Revenue Share of 43.6%.

    The North American region leads the global clinical laboratory tests market by accounting for a major revenue share of 43.6%. This exponential growth of the North American region is due to the presence of developed healthcare infrastructure in countries like the United States and Canada. The growing geriatric population in the region is increasing the demand for various lab tests in the market.

    Clinical Laboratory Tests Market Regional Analysis

    Moreover, the rising number of cancer patients in the region and continuously risen over the last few years. According to the American Cancer Society, cancer is one of the leading causes of Death in the North American region. Therefore, to detect cancer in the early stages, the number of testing is significantly increased in the North American region. All these factors are driving the growth of the clinical laboratory tests market in the North American region.

    After North America, Asia Pacific is anticipated to be the fastest-growing region in the global market over the forecast period. Continuously rising population and developing healthcare infrastructure are expected to play a huge role in the growth of the market in the Asia Pacific region.

    Key Regions and Countries

    • 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 Player Analysis

    The global clinical laboratory tests market is fragmented into many companies offering equipment and services. However, the major companies are focused on the development of advanced solutions and types of equipment for clinical laboratories to expand their market share across various regions.

    Key companies are also adopting strategies like mergers, collaboration, partnership, and acquisition to expand their business and strengthen their position in the market.

    Top Key Players

    • Abbott
    • Synnovis Group LLP
    • Sonic Healthcare Limited
    • Cinven
    • Clinical Reference Laboratory Inc
    • Quest Diagnostics Incorporated
    • ARUP Laboratories
    • OPKO Health Inc.
    • UNILABS
    • Siemens Healthineers
    • Other Key Players

    Recent Developments

    • In September 2022, Bionano Genomics Inc. launched the new Bionano Laboratories that combines clinical testing services with Bionano’s optical genome mapping data services.
    • In March 2022, Mindray announced the launch of their latest BC-700 Series hematology analyzers for small to medium-sized labs that perform bots of complete blood count and erythrocyte sedimentation rate tests.

    Report Scope

    Report Features Description
    Market Value (2022) USD 105.8 Billion
    Forecast Revenue (2032) USD 256.3 Billion
    CAGR (2023-2032) 9.5 %
    Base Year for Estimation 2022
    Historic Period 2016-2021
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments
    Segments Covered By Type – Complete Blood Count, HGB/ HCT testing, Basic Metabolic Panel Testing, Electrolytes Testing, HbA1c Testing, and Other Types; By Service Provider – Hospital Based Laboratories, Stand-alone Laboratories, and Clinic-Based Laboratories
    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 Abbott, Cinven, Quest Diagnostics Incorporated, ARUP Laboratories, OPKO Health Inc., UNILABS, Clinical Reference Laboratory Inc., Synnovis Group LLP, Sonic Healthcare Limited., Siemens Healthineers, and 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)

    What is the value of the Global Clinical Laboratory Tests Market ?

    The Global Clinical Laboratory Tests Market was valued at US$ 105.8 billion in 2022. It is projected to reach US$ 256.3 billion by 2032.

    What are clinical laboratory tests and how are they conducted?

    linical laboratory tests involve collecting samples like blood, urine, tissue, and other biological matters from patients, which are then analyzed and examined by medical professionals using various equipment and instruments to diagnose diseases or deficiencies.

    Which type dominates the Clinical Laboratory Tests Market in terms of revenue share?

    HbA1c testing dominates the Clinical Laboratory Tests Market by covering a major revenue share due to the growing number of patients with cholesterol and diabetes abnormalities.

    What growth opportunity exists in the Clinical Laboratory Tests Market?

    The increasing focus on accurate and efficient testing equipment is expected to create many opportunities in the Clinical Laboratory Tests Market over the forecast period.

    Which region dominates the Global Clinical Laboratory Tests Market in terms of revenue share?

    North America dominates the Global Clinical Laboratory Tests Market by covering a major revenue share of 43.6%.

    Which companies are key players in the Clinical Laboratory Tests Market?

    Some of the key players in the Clinical Laboratory Tests Market are Abbott, Cinven, Quest Diagnostics Incorporated, ARUP Laboratories, OPKO Health Inc., UNILABS, Clinical Reference Laboratory Inc., Synnovis Group LLP, Sonic Healthcare Limited, Siemens Healthineers, and other key players.

    What is the significance of key players in the Clinical Laboratory Tests Market?

    Key players in the Clinical Laboratory Tests Market are major contributors to the market's growth through their development of advanced solutions, equipment, and services.

    Clinical Laboratory Tests Market
    Clinical Laboratory Tests Market
    Published date: Nov 2023
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    • Abbott Laboratories
    • Synnovis Group LLP
    • Sonic Healthcare Limited
    • Cinven
    • Clinical Reference Laboratory Inc
    • Quest Diagnostics Incorporated
    • ARUP Laboratories
    • OPKO Health Inc.
    • UNILABS
    • Siemens Healthineers
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