Selbyville, Delaware, July 07, 2021 (GLOBE NEWSWIRE) -- According to seasoned experts, global clinical laboratory market size was valued at USD 23.9 billion in 2020 and is expected to register momentous growth over 2021-2026. Rising incidences of lifestyle ailments, chronic as well as infectious diseases, along with surging healthcare expenditure and increasing demand for early diagnostic tests are catalyzing this industry growth.
Moving on, the Covid-19 outbreak has distressed the global economy. In this context, various methodologies are incorporated in the report to assist the stakeholders in making effective decisions through the pandemic. Additionally, the documentation is prepared by incorporating both quantitative as well as qualitative aspects, backed by insights from KOLs and SMEs.
Also, willingness to adopt international standards among clinical labs that offers automation, interoperability, and other benefits to process larger samples per unit of time is also expected to augment the marketspace during the forecast duration.
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Moreover, preference for technologically advanced products like microarrays, companion diagnostics, and biochips, which are precise, to reduce cost and enhance productivity is augmenting worldwide clinical laboratory market scenario. Notably, introduction of new solutions provides minimum risk of errors and maximum efficiency to clinicians.
Outline of market segmentation:
In terms of test, the industry is bifurcated into immunoassay, and clinical chemistry. Speaking of end-user terrain, the marketplace is classified into clinical based laboratories, reference laboratories, hospital-based laboratories, independent laboratories. and others.
Regional landscape overview
Expert analysts claim that North America acquired the largest share in worldwide clinical laboratory industry in 2020 and is expected to generate modest revenues over the analysis timeframe, with the United States at the forefront, owing to presence of major companies in the region.
Parallelly, Asia Pacific market is anticipated to witness momentous growth during the forecast duration of 2021-2026, owing to massive unmet medical needs resulting in growing scientific research, in tandem with positive economic growth. China and India are two major countries which are considered as potential business hubs and service providers for clinical testing, garnering returns for the market.
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Competitive Dashboard
The competitive landscape of global clinical laboratory market is defined by companies such as Abbott Laboratories, Laboratory Corporation of America Holdings (LabCorp), OPKO Health, Quest Diagnostics, Charles River Laboratories International Inc., The Sartorius Group, QIAGEN, Ortho Clinical Diagnostics, Eurofins, and SGS S.A. among others.
Global Clinical Laboratory Market by Test Type (Revenue, USD Million, 2016-2026)
·Clinical Chemistry
·Immunoassay
Global Clinical Laboratory Market by End User (Revenue, USD Million, 2016-2026)
·Clinical Based Laboratories
·Reference Laboratories
·Independent Laboratories
·Hospital Based Laboratories
·Others
Global Clinical Laboratory Market Regional Landscape (Revenue, USD Million, 2016-2026)
Europe
·Germany
·France
·UK
North America
·U.S.
·Canada
Asia Pacific
·India
·China
·Japan
Latin America
·Israel
·South Africa
Global Clinical Laboratory Market Competitive Arena (Revenue, USD Million, 2016-2026)
·Abbott Laboratories
- Ortho Clinical Diagnostics
- Charles River Laboratories International Inc.
- SGS S.A.
- QIAGEN
- OPKO Health
- The Sartorius Group
- Laboratory Corporation of America Holdings (LabCorp)
- Quest Diagnostics
- Eurofins
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2.Strategic Recommendations
3. Clinical Laboratory Market: Product Outlook
4. Global Clinical Laboratory Market: Sizing and Forecast
4.1 Global Clinical Laboratory Market Size, By Value, Year 2016-2026
5. Global Clinical Laboratory Market Segmentation - By Test, By End User
5.1 Competitive Scenario of Global Clinical Laboratory Market: By Test
5.1.1 Clinical Chemistry - Market Size and Forecast (2016-2026)
5.1.2 Immunoassay - Market Size and Forecast (2016-2026)
5.2 Competitive Scenario of Global Clinical Laboratory Market: By End user
5.2.1 Hospital Based Laboratories - Market Size and Forecast (2016-2026)
5.2.2 Clinical Based Laboratories - Market Size and Forecast (2016-2026)
5.2.3 Independent Laboratories - Market Size and Forecast (2016-2026)
5.2.4 Reference Laboratories - Market Size and Forecast (2016-2026)
5.2.5 Others - Market Size and Forecast (2016-2026)
6.Global Clinical Laboratory Market: Regional Analysis
6.1 Competitive Scenario of Global Clinical Laboratory Market : By Region
7.North America Clinical Laboratory Market: An Analysis (2016-2026)
7.1 North America Clinical Laboratory Market : Size and Forecast (2016-2026), By Value
7.2 North America Clinical Laboratory Market - Prominent Companies
7.3 Market Segmentation By Test ( Clinical Chemistry and Immunoassay)?
7.4 Market Segmentation By End User
7.5 North America Clinical Laboratory Market: Country Analysis?
8.Europe Clinical Laboratory Market: An Analysis (2016-2026)
8.1 Europe Clinical Laboratory Market : Size and Forecast (2016-2026), By Value
8.2 Europe Clinical Laboratory Market - Prominent Companies
8.3 Market Segmentation By Test ( Clinical Chemistry and Immunoassay)?
8.4 Market Segmentation By End User
8.5 Europe Clinical Laboratory Market: Country Analysis
9.Asia Pacific Clinical Laboratory Market: An Analysis (2016-2026)
9.1 Asia Pacific Clinical Laboratory Market : Size and Forecast (2016-2026), By Value
9.2 Asia Pacific Clinical Laboratory Market - Prominent Companies
9.3 Market Segmentation By Test ( Clinical Chemistry and Immunoassay)?
9.4 Market Segmentation By End User
9.5 Asia Pacific Clinical Laboratory Market: Country Analysis?
10.LAMEA Clinical Laboratory Market: An Analysis (2016-2026)
10.1 LAMEA Clinical Laboratory Market : Size and Forecast (2016-2026), By Value
10.2 LAMEA Clinical Laboratory Market - Prominent Companies
10.3 Market Segmentation By Test ( Clinical Chemistry and Immunoassay)?
10.4 Market Segmentation By End User
10.5 LAMEA Clinical Laboratory Market: Country Analysis?
11.Global Clinical Laboratory Market Dynamics
11.1 Drivers
11.2 Restraints
11.3 Trends
12.Market Attractiveness
12.1 Market Attractiveness Chart of Global Clinical Laboratory Market - By Test, 2026
12.3 Market Attractiveness Chart of Global Clinical Laboratory Market - By End User, 2026
12.3 Market Attractiveness Chart of Global Clinical Laboratory Market - By Region, 2026
13.Competitive Landscape
13.1 Major Technological Innovations, Mergers & Acquisitions and Role of Manufacturers
13.2 Market Share Analysis
14.Company Analysis
Related Report:
Clinical Laboratory Services Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The clinical laboratory services market is forecast to witness significant growth over the coming time period owing to accurate testing, cost effective nature, higher productivity, and introduction of new technologies. Clinical lab services are generally concerned with conducting tests on specimens collected from the body, like urine or blood, to diagnose as well as help find treatment for the patients. In today's complex healthcare system, clinical laboratorians provide services and information that allow healthcare professionals provide effective delivery of care to patients by making sure that the right test is performed on the right person, and at the right time. In turn generating precise test results which would enable providers to make the right therapeutic and diagnostic decisions utilizing the correct level of healthcare resources.
Clinical laboratory services are known to be the most cost effective and a minimally invasive source of the objective information utilized in clinical decision-making. These services usually have a direct impact on various aspects of patient care including, customer satisfaction, resource utilization, safety of patient, and length of stay. Though technology continues to enhance the productivity of present-day laboratories, new diseases, disease strains, and novel technologies continue to boost the requirement for greater number of tests and testing.
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