Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Clinical Laboratory Services Market Size, Share & Trends Analysis Report By Test Type (Human & Tumor Genetics, Clinical Chemistry), By Service Provider, By Application, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global clinical laboratory service market size is expected to reach USD 286.77 billion by 2030, registering a CAGR of 3.5% from 2024 to 2030.
The growth of the industry can be attributed to the increasing prevalence of the geriatric population, which, in turn, is propelling the demand for early disease diagnosis. The growing prevalence of target diseases, such as diabetes and Cardiovascular Diseases (CVDs), is a high impact-rendering driver for industry growth over the forecast period. Cardiovascular disease is the leading cause of death globally. The presence of unmet medical needs pertaining to disease management and the subsequent increase in patient awareness in more regions are expected to boost the demand for clinical laboratory testing. 
Improvements in laboratory testing technology throughbreakthrough and incremental advances are high-impact-rendering drivers for industry growth. Market firms are engaged in introducing new services to serve the unmet demand of patients. For instance, in May 2022, Hamilton County entered into a partnership with Ethos Laboratories for the launch of no-cost COVID-19 testing sites. In July 2022, Mayo Clinic laboratories launched monkeypox tests to increase availability and accessibility to a wider target population. Moreover, in January 2022, Quest Diagnostics launched COVID-19 rapid antigen tests available through QuestDirect in collaboration with eMed to provide access to testing for COVID-19 at home.
The adoption of PCR technology for the diagnosis of COVID-19 and the genetic sequencing of the virus for the development of a cure is driving the industry. Due to the pandemic, there is an increase in the approval of tests for the diagnosis of the novel coronavirus, with most of these tests approved under Emergency Use Authorization (EUA) by federal agencies. Furthermore, the industry operates through different sales channels - laboratories and hospitals. The presence of prominent players in various regions is expected to drive the industry.
Clinical Laboratory Service Market Report Highlights
- In 2021, the clinical chemistry segment held a dominant share owing to the increasing need for pathology analysis
- The hospital-based laboratories segment is projected to grow at the fastest CAGR over the forecast period owing to increasing hospital-integrated laboratories
- The bioanalytical & lab chemistry services segment was the highest revenue-generating segment in 2023 due to the increasing drug discovery and development
- The industry has seen unprecedented growth due to the introduction of innovative services to address the rising demands
- Asia Pacific is expected to witness the fastest CAGR during the forecast period due to improved manufacturing facilities and an increasing prevalence of chronic disease
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $233.24 Billion |
| Forecasted Market Value (USD) by 2030 | $286.77 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Clinical Laboratory Services Market: Methodology And Scope
Chapter 2 Clinical Laboratory Services Market: Executive Summary
Chapter 3 Clinical Laboratory Services Market: Industry Outlook
3.1 Market Lineage Outlook
3.1.1 Parent Market Lineage Outlook
3.1.2 Related/Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Market Dynamics
3.3.1 Market Drivers
3.3.1.1 Technological Advancements In The Filed Of Clinical Testing
3.3.1.2 Growing Prevalence Of Target Diseases Coupled With Rising Demand For Early Disease Diagnostic Tests
3.3.1.3 Introduction Of Novel Solutions
3.3.1.4 Introduction Of Home Health Tests
3.3.1.5 Outbreak Of Coivd-19 Technologies
3.3.2 Market Restraint Analysis
3.3.2.1 Presence Of Stringent Regulatory Framework
3.4 SWOT Analysis, By Factor (Political & Legal, Economic And Technological)
3.5 Industry Analysis - Porter's
3.6 Reimbursement & Regulatory Scenario
3.7 Major Deals & Strategic Alliances
Chapter 4. Clinical Laboratory Services Market: Test Type Estimates & Trend Analysis
4.1. Test Type Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Global Clinical Laboratory Services Market by Test Type Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Genetic Testing
4.4.2. Clinical Chemistry
4.4.3. Medical Microbiology Testing
4.4.4. Hematology Testing
4.4.5. Immunology Testing
4.4.6. Cytology Testing
4.4.7. Drug of Abuse Testing
4.4.8. Other Esoteric Tests
Chapter 5. Clinical Laboratory Services Market: Service Provider Estimates & Trend Analysis
5.1. Service Provider Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Global Clinical Laboratory Services Market by Service Provider Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4.1. Hospital-Based Laboratories
5.4.2. Stand-Alone Laboratories
5.4.3. Clinic-Based Laboratories
Chapter 6. Clinical Laboratory Services Market: Application Estimates & Trend Analysis
6.1. Application Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Global Clinical Laboratory Services Market by Application Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4.1. Bioanalytical & Lab Chemistry Services
6.4.2. Toxicology Testing Services
6.4.3. Cell & Gene Therapy Related Services
6.4.4. Preclinical & Clinical Trial Related Services
6.4.5. Drug Discovery & Development Related Services
6.4.6. Others
Chapter 7. Clinical Laboratory Services Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2023 & 2030
7.2. Regional Market Dashboard
7.3. Global Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
- LABCORP
- Qiagen
- Quest Diagnostics
- OPKO Health
- Charles River Laboratories
- ARUP Laboratories
- Sonic Healthcare
- Neogenomics Laboratories
- Fresenius Medical Care
- Siemens Healthcare
- SYNLAB International
- Mayo Clinic Laboratories
- Unilabs
- Eurofins Scientific
For more information about this report visit https://www.researchandmarkets.com/r/l4cxbd
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