Clinical Laboratory Tests Market Size to Reach USD 327.4 Billion in 2028: Rising prevalence of chronic diseases and increasing need for advanced diagnostic techniques to drive market growth, Says Reports and Data

Some of the most prominent companies involved in the global clinical laboratory tests market include Quest Diagnostics, Inc., Siemens Healthineers, Abbott Laboratories, Inc., Laboratory Corporation of America, LLC, Charles River Laboratories International, Inc., Fresenius Medical Care, Sonic Healthcare Ltd., Genoptix, Inc., NeoGenomics Laboratories Inc., OPKO Health, Inc., Eurofins Scientific, and Bioscientia Institut fr Medizinische Diagnostik GmbH.

New York, May 24, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 189.8 billion in 2020, Market Growth – at a CAGR of 7.3%, Market Trends – Rising focus of health-conscious people on regular body profiling

The global clinical laboratory tests market size is expected to reach USD 327.4 billion by 2028 at a CAGR of 7.3%, according to the latest report by Reports and Data. Growth of this market is accelerated by increasing geriatric population worldwide, rising prevalence of chronic and acute diseases, increasing burden of target diseases such as diabetes, and growing awareness about health & wellness among individuals. In addition, rising prevalence of cardiovascular disorders increasing need for early disease diagnosis & management, and growing usage of molecular, pathological, and immunological tests are other significant parameters fueling the global clinical laboratory tests market growth.

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Clinical laboratory tests are medical tests performed using a wide range of laboratory equipment to attain information about the health of a patient. These tests require blood, urine, or other samples of patients to diagnose their particular medical condition and determine the likely course of treatment. Clinical microbiology, clinical chemistry, hematology, DNA testing, and reproductive biology tests are some of the key areas of clinical laboratory testing. Some of the most common clinical laboratory tests are Complete Blood Count (CBC), comprehensive metabolic panel, basic metabolic panel, liver panel, lipid panel, HbA1c, HGB/HCT, urinalysis, and thyroid stimulating hormone. Increasing government and private funding for the advancement of laboratory testing procedures, growing demand for technologically advanced clinical diagnostic techniques, and emergence of infectious diseases such as the novel coronavirus pandemic have further bolstered the growth of the global market.

Clinical Laboratory Tests Market Size, Share & Analysis, By Test Type (Complete Blood Count, HGB/HCT, Comprehensive Metabolic Panel, Basic Metabolic Panel, Hba1c Tests, Lipid Panel, Renal Panel, Liver Panel), By Specialty (Clinical Chemistry Testing, Microbiology Testing, Genetic Testing, Cytology Testing, Immunology Testing, Hematology Testing), By Department (Genetics, Hematology, Virology, Parasitology, Toxicology, Histopathology, Microbiology, Urinalysis, Others), By Service Provider (Hospital-Based Laboratories, Clinic-Based Laboratories, Stand-Alone Laboratories), And By Region, Forecast To 2028; To identify the key trends in the industry, click on the link below:

Key Highlights of the Report:

  • Based on the test type, the basic metabolic tests segment accounted for highest revenue share in the global clinical laboratory tests market in 2020. The segment is expected to dominate over the forecast period supported by rising prevalence of lifestyle-induced diseases including obesity, diabetes, and high blood pressure, and increasing volumes of basic metabolic tests worldwide.
  • Among service providers, the stand-alone laboratories are expected to emerge as the leading segment over the forecast period, displaying a robust CAGR of 4.7%. Predominant factors responsible for the growth of this segment are growing cases of rare genetic disorders, rising prevalence of various chronic and acute diseases, increasing use of advanced, automated laboratory equipment, and growing requirement of rapid test results. Rising demand for advanced testing technologies, such as rapid and portable analyzers, will further propel this segment’s growth.
  • Among leading market regions, North America retained the largest share of the global market in 2020. The North America clinical laboratory tests market will continue to lead in terms of revenue over the forecast period due to growing geriatric population, rising prevalence of lifestyle-induced diseases, escalating demand for advanced clinical diagnostic techniques, and the region’s state-of-the-art healthcare infrastructure.

Some of the most prominent companies involved in the global clinical laboratory tests market include:

  • Quest Diagnostics, Inc.
  • Siemens Healthineers
  • Abbott Laboratories, Inc.
  • Laboratory Corporation of America, LLC
  • Charles River Laboratories International, Inc.
  • Fresenius Medical Care
  • Sonic Healthcare Ltd.
  • Genoptix, Inc.
  • NeoGenomics Laboratories Inc.
  • OPKO Health, Inc.
  • Eurofins Scientific
  • Bioscientia Institut fr Medizinische Diagnostik GmbH.

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For the purpose of this report, the global clinical laboratory tests market has been segmented based on the test type, specialty, department, service provider, and region:

By Test Type (Revenue, USD Billion; 2018-2028)

  • Complete Blood Count (CBC)
  • Electrolytes Testing
  • BUN Creatinine Tests
  • Comprehensive Metabolic Panel
  • Basic Metabolic Panel
  • HbA1c Tests
  • Liver Panel
    • Bile Duct Obstruction
    • Autoimmune Disorders
    • Hepatitis
    • Liver Cancer
    • Liver Cirrhosis
    • Bone disease
    • Others
  • Lipid Panel
  • Renal Panel
  • Prothrombin Time
  • Thyroid Stimulating Hormone
  • Cultures
  • Others

By Specialty (Revenue, USD Billion; 2018-2028)

  • Clinical Chemistry Testing
    • Routine Chemistry Testing
    • Specialized Chemistry Testing
    • Endocrinology Chemistry Testing
    • Therapeutic Drug Monitoring (TDM) Testing
    • Others
  • Microbiology Testing
    • Infectious Disease Testing
    • Transplant Diagnostic Testing
    • Others
  • Genetic Testing
  • Cytology Testing
  • Immunology Testing
  • Hematology Testing
  • Drug of Abuse Testing

By Department (Revenue, USD Billion; 2018-2028)

  • Genetics
  • Hematology
  • Virology
  • Parasitology
  • Toxicology
  • Histopathology
  • Microbiology
  • Clinical Biochemistry
  • Urinalysis
  • Cytopathology
  • Immunology/Serology
  • Surgical Pathology
  • Others

By Service Provider (Revenue, USD Billion; 2018-2028)

  • Hospital-based Laboratories
  • Clinic-based Laboratories
  • Stand-alone Laboratories

By Region (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of the Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East & Africa

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