Clinical Laboratory Services Market Opportunities, Growth and Forecasting for next Upcoming Year Until 2027
Clinical Laboratory Services Market research report serves the purpose of businesses of making enhanced decisions, deal with marketing of goods or services, and achieve better profitability by prioritizing market goals. This market report is a proven and consistent source of information which gives telescopic view of the existing market trends, emerging products, situations and opportunities that drives business towards the success. This industry report brings into the focus, the more important aspects of the market or industry. Clinical Laboratory Services Market report also provides company profiles and contact information of the key market players in the key manufacturer’s section.
Clinical Laboratory Services Market report uncovers the general market conditions, trends, inclinations, key players, opportunities, geographical analysis and many other parameters that helps drive the business into right direction. With the use of up to date and proven tools and techniques, complex market insights are organized in simpler version in this report for the better understanding of end user. Clinical Laboratory Services Market analysis report encompasses different industry verticals for industry such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company.
Market Analysis and Insights:
Clinical laboratory services market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.2% in the forecast period of 2020 to 2027 and expected to reach USD 217,941.33 million by 2027 from USD 134,692.52 million in 2019. Rising demand for early and accurate disease diagnosis is the factors for the market growth.
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Clinical laboratory services is playing significant role to enable doctors to make appropriate clinical and diagnostic decisions across various levels of health care services. Increasing demand for diagnostic tests is augmenting the market growth as they are used for clinical diagnoses tests.
The major players covered in the report are:-
Mayo Foundation for Medical Education and Research (MFMER), Laboratory Corporation of America Holding, Quest Diagnostics Incorporated, Spectra Laboratories (A Subsidiary of Fresenius Medical Care AG & Co. KGaA), DaVita Inc., Eurofins Scientific, UNILABS, SYNLAB International GmbH, MIRACA HOLDINGS Inc., Sonic Healthcare, ACM Global Laboratories, amedes Group, LifeLabs, Alere (A Subsidiary of Abbott), Charles River, Siemens Healthineers AG, BioReference Laboratories, Inc., NeoGenomics Laboratories, Inc., KingMed Diagnostics, Genomic Health, among other players domestic and global.
Many business expansion and developments are also initiated by the companies worldwide which are also accelerating the growth of global clinical laboratory services market.
Global Clinical Laboratory Services Market By Specialty (Clinical Chemistry Testing, Hematology Testing, Microbiology Testing, Immunology Testing, Drugs of Abuse Testing, Cytology Testing, Genetic Testing), Provider (Hospital-Based Laboratories, Independent & Reference Laboratories, Nursing and Physician Office-Based Laboratories), Application (Bioanalytical & Lab Chemistry Services, Drug Development Related Services, Drug Discovery Related Services, Toxicology Testing Services, Cell & Gene Therapy Related Services, Preclinical & Clinical Trial Related Services, Other Clinical Laboratory Services), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Market Trends and Forecast to 2027
- In September 2019, Spectra Laboratories announced to construct a 200,000 square foot facility in Southaven’s Stateline Business Park. More than 300 workers would check samples to assess the quality of the patients ‘ kidneys there. Quick distribution of test results by the agency, allowing patients to access the specific care they need in a timely manner. This expansion increases the productivity of the company which increases their market share.
- In September 2018, DaVita Kidney Care, a subsidiary of DaVita Inc., a leading provider of kidney care services, announced the completion of a 150,000 square-foot facility of DaVita Laboratories, a clinical laboratory servicing the DaVita dialysis clinics and their clients. This expansion will increase the market value .of the company.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Clinical Laboratory Services through expanded model range.
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Rising demand of clinical laboratory services across the world is one of the prominent factors for increasing demand of clinical chemistry testing. For instance, yearly in the U.K., the usually citizen has 14 tests completed by a laboratory specialist. However in the U.S., laboratory testing is the only highest-volume medical activity and approximately 13,000 million tests are performed per year. Hence, this factor has led the patients to shift towards clinical chemistry testing because it offers a wide range of tests which are performed in the clinical laboratory testing. In the current scenario the technological advancements boost the patients’ reach to laboratory testing, which is becoming gradually more precise and affordable. For instance, point-of-care testing (POCT) is regularly applied in hospitals and other healthcare practices, so the patients not need to travel to the clinical laboratories for testing. The increasing use of point-of-care testing has reduced demand tests which are conventionally executed at industry laboratories.
Rising demand of early and accurate disease diagnosis across the globe is one of the prominent factors for an upsurge demand of clinical laboratory services. For instance, in 2018, World Health Organization projected that projected that an estimated 1.8 million new cases and almost 861,000 deaths occur due to colorectal cancer (CRC). This factor has increased the number of clinical laboratories around the globe as Delays in accessing cancer care are very common in the late-stage presentation, especially in lower vulnerable populations and resource settings.
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Huge Investment by laboratory for Clinical Laboratory Services and New Technology Penetration
Global clinical laboratory services market also provides you with detailed market analysis for every country growth in life science industry with clinical laboratory services demand impact of technological development in laboratory services and changes in regulatory scenarios with their support for the clinical laboratory services market. The data is available for historic period 2010 to 2018.
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