Rockville , Feb. 28, 2024 (GLOBE NEWSWIRE) -- The global clinical chemistry market is estimated to be valued at US$ 9.26 billion in 2024 and is forecasted to reach US$ 15.12 billion by the end of 2034, according to the latest market study by skilled analysts at Fact.MR.
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Driven by growing demand for early disease diagnosis, rising chronic disease prevalence, and technological improvements, the worldwide clinical chemistry market is projected to maintain its upward trajectory. Within the larger healthcare sector, the clinical chemistry market is an essential segment that includes instruments and diagnostic methods for analyzing body fluids to determine a patient's state of health.
Evolution of this market has been characterized by notable technology developments, evolving healthcare paradigms, and an increasing focus on customized therapy and early disease diagnosis. The market for clinical chemistry includes a wide variety of tests, analyzers, and reagents that are used in labs, hospitals, clinics, and research centers all over the world. These tests are essential for revealing information about a wide range of health factors, such as liver function, electrolyte balance, and blood glucose and cholesterol levels.
| Report Attribute | Details |
| Value Projection (2034) | US$ 15.12 Billion |
| Growth Rate (2024-2034) | 5% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Takeaways from Market Study
- The global clinical chemistry market is estimated at US$ 9.26 billion in 2024.
- Demand for clinical chemistry practices is projected to rise at a CAGR of 5% from 2024 to 2034.
- The market is forecasted to reach US$ 15.12 billion by 2034-end.
- The market in East Asia is projected to expand at a CAGR of 5.1% through 2034.
- Sales of POC test kits are forecasted to increase at a CAGR of 4.9% from 2024 to 2034.
- North America is estimated to account for 30% share of the global market in 2024.
“Clinical chemistry market progress is being driven by a combination of technological advancements and an emphasis toward preventative healthcare. As the market evolves, the priority remains on providing precise diagnosis and improving patient outcomes," says a Fact.MR analyst.
Key Companies Profiled in This Report
- Danaher Corporation
- Abbott
- F. Hoffmann-La Roche Ltd.
- Siemens AG
- Thermo Fisher Scientific Inc.
- bioMérieux SA
- Bio-Rad Laboratories Inc.
- Cardinal Health, Inc.
- Mindray Medical International Limited
- Hitachi, Ltd.
- Hologic Inc.
- ELITechGroup
- Beckman Coulter, Inc.
- Alfa Wassermann Inc.
- Ortho-Clinical Diagnostics
- Diatron
- Nova Biomedical
- Johnson & Johnson Services, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
- Randox Laboratories Ltd.
- Sysmex Corporation
- Bio Systems Diagnostics Pvt. Ltd.
- DiaSys Diagnostic Systems GmbH
- Endress Hauser Management AG
High Prevalence of Age-related Disorders Necessitating Periodic Clinical Chemistry Tests for Effective Illness Management
The global population is aging rapidly, leading to a rise in chronic illnesses and health issues associated with aging. Elderly people frequently struggle with several health conditions, such as diabetes, heart disease, kidney problems, and liver problems, which calls for regular and extensive diagnostic testing. Clinical chemistry tests are essential instruments for the management and surveillance of several common illnesses in the elderly. These tests provide timely interventions and individualized treatment plans by assisting with early detection, precise diagnosis, and ongoing disease management.
There is a greater need for healthcare services, such as regular check-ups and disease screenings as life expectancy rises, which drives up demand for clinical chemistry testing even more. The clinical chemistry market has been driven to continuously adapt and innovate due to the distinct healthcare needs of the elderly generation and their vulnerability to a range of health problems. Diagnostic labs, hospitals, and research institutes are investing in cutting-edge clinical chemistry technologies and solutions to meet the unique needs of an older population.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the clinical chemistry market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (analyzers, POC test kits, clinical chemistry analyzer kits & reagents) and end user (hospitals, pathology laboratories, clinics, outpatient centres, maternity centres), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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