Clinical Laboratory Services Market in 2013-2019: Transparency Market Research

According to a new market report published by Transparency Market Research "Clinical Laboratory Services Market (Clinical Chemistry, Medical Microbiology & Cytology, Human & Tumor Genetics and Other Esoteric Tests) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global clinical laboratory services market was valued at USD 162.71 billion in 2012 and is expected to grow at a CAGR of 5.8% from 2013 to 2019, to reach an estimated value of USD 241.37 billion in 2019.

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Clinical laboratories refer to the centers for conducting diagnostic testing and related services to identify disease causes, level of progression (stage) of the disease, resultant abnormalities and imbalances in the physiology, and other such factors. Along with processing samples and generating patient reports, players in this market also offer informatics solutions which help in effective data management for the large volume of tests ordered and performed each day. The global market for clinical laboratory services is expected to grow at a CAGR of 5.8% during the forecast period due to the increasing incidence rates of diseases worldwide along with the introduction of newer and sophisticated diagnostic tests.

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The market for clinical laboratory services has been segmented by different categories of tests performed such as clinical chemistry, genetic tests, medical microbiology & cytology tests and other esoteric tests. The market for medical microbiology & cytology tests is expected to grow at the highest CAGR of 7.1% during the forecast period due to the increasing burden of infectious diseases globally, that demands large testing volume capacities from clinical laboratories. Although core laboratory tests, which constitute the clinical chemistry market segment, are basic tests extensively conducted across patient populations, this market segment is expected to witness mediocre growth at a CAGR of 5.3%. This is due to the limited scope for innovation in this market in terms of developing newer tests and the growing importance of informatics solutions in the same.

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On the basis of geographic regions, this market was studied with reference to North America, Europe, Asia-Pacific and Rest of the World. North America and Asia-Pacific regions are expected to emerge as highly attractive markets for clinical laboratory services in the future, in terms of market revenue and growth respectively. The market is divided into three major types of service providers- clinic-based, hospital-based and stand-alone laboratories. Of these, hospital-based laboratories generate the maximum revenue globally are expected to continue to do so during the forecast period.

The market for clinical laboratory services is fragmented, with Quest Diagnostics, Inc. (U.S.) and Laboratory Corporation of America Holdings (U.S.) dominating the market in terms of revenue generation. Some of the other key players include Sonic Healthcare (Australia), Genoptix Medical Laboratory (U.S.), Labco S.A. (France), Healthscope Ltd. (Australia), Bio-Reference Laboratories (U.S.), and Bioscientia Healthcare (Germany).

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Clinical Laboratory Services Market (Growth Opportunities, Competitive Analysis And Competitor Profiles) - Global Industry Analysis, Market Size, Share & Forecast, 2012 - 2018

The US market for clinical laboratories services is forecasted to reach a value of $61.9 billion by the year 2014. About 80% of diagnosis made by physicians is as a result of clinical laboratory tests which bodes well for clinical laboratory services providers. Clinical laboratories are playing a significant role in the healthcare industry for diagnosing ailments accurately.

 Browse : Clinical Laboratory Services Market

The constant pressure to reduce healthcare spending is resulting in an increased focus on clinical laboratory services, making it the most valuable element in treatment plans. As hospital stays and contact between patient and physicians is reduced, clinical laboratory services are the only way to gather, interpret, and deliver appropriate information to physicians. This is resulting in the set up of increasing number of clinical labs, especially in independent sectors.

 

The clinical laboratory services market is expected to grow further with more number of market players making their way into this industry, and technological changes and continuous research made by emerging players to withstand the growing competition. 

 

Market Segmentation

Routine Testing

• Cholesterol Level Testing
• Blood Cell Count
• HIV Testing
• Nucleic Acid Testing
• Pap Testing
• Pregnancy Testing 
• Urine analysis
• Substance Abuse Testing 

Specialty Testing

• Endocrinology
• Esoteric Testing 
• Genetics 
• Oncology 
• Serology 
• Toxicology 
• Immunology and Molecular Biology 

The research report titled “The Clinical Laboratory Services Market” analyzes this market depending on its market segments and major geographies. Geographies analyzed under this research report include 

• North America
• Asia Pacific 
• Europe
• Rest of the World 

This report provides comprehensive analysis of 

• Current market trends 
• Market growth drivers 
• Factors limiting market growth 
• Market structure 
• Market projections for upcoming years 

The report also provides analysis of recent developments in technology, Porter’s five force model, and complete company profiles of top industry players. It includes review of micro and macro factors significant with respect to existing market players and new entrants with value chain analysis. 

 

Major Players 

 

Some of the key players dominating this market are Quest Diagnostics Inc., Laboratory Corporation of America, Genomic Health, Genoptix Inc., Genzyme Corporation, DaVita, Clarient Inc., Spectra Laboratories, Bio-Reference Laboratories, and others. 

 

Reasons for Buying this Report 

• The report provides pin-point analysis of changing competition dynamics and keeps you ahead of competitors
• It provides clear understanding of key product segments and competitive environment 
• The report provides a technological growth map over time and explains its impact on industry 
• The report provides complete analysis of major competitors and their strategies
• This research report provides forward looking perspective on major market forces driving and restraining market growth 
• It provides distinctive graphics and exemplified SWOT analysis of major industry segments 
• It helps in making informed business decisions by having complete insights of markets and by making in-depth analysis of industry trends.

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