New York, USA, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The Global Clinical Diagnostics Market is expected to Surge at a CAGR of 7.02% During the Forecast Period (2019–2027) | DelveInsight
According to DelveInsight’s clinical diagnostics market analysis, the demand for clinical diagnosis is increasing at an alarming rate due to the rising cases of various chronic and infectious disorders around the world. Furthermore, rising technological advancement in clinical diagnostics products is expected to increase demand for clinical diagnostics tests, thereby driving product market growth in the coming years.
DelveInsight’s Clinical Diagnostics Market Insights report provides the current and forecast market analysis, individual leading clinical diagnostics companies’ market shares, challenges, clinical diagnostics market drivers, barriers, and trends, and key clinical diagnostics companies in the market.
Key Takeaways from the Clinical Diagnostics Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global clinical diagnostics market during the forecast period.
- Notable clinical diagnostics companies such as Abbott, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG, Hologic, Inc., Qiagen NV, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Sysmex, Sonic Healthcare Ltd, Exact Sciences Corporation, NeoGenomics, Inc., BioReference Laboratories, Laboratory Corporation of America® Holdings, DiaSorin, PerkinElmer Inc., FUJIFILM Corporation, and several others are currently operating in the clinical diagnostics market.
- In October 2022, ixlayer, a digital diagnostics company, announced that it would manufacture CVS Health’s branded at-home sample collection kits.
- In October 2022, Daye, has completed a USD 11.5 million funding round and announced the launch of its vaginal microbiome screening tests that can detect infections and pathogens linked to STIs and vaginal infections, as well as fertility, pregnancy, and IVF complications, making at-home vaginal health testing more accurate, comfortable and convenient.
- On July 2022, Novacy experts in clinical diagnostics received approval for their product EXSIG™ COVID-19 direct test in the UK under CTDA legislation.
- On July 2022, Quotient Limited and InfYnity Biomarkers announced a collaboration under which InfYnity Biomarkers will assist Quotient in the research and design of infectious disease assays to enrich and expand the MosaiQ Serology Disease Screening (SDS) menu and reduce time and cost of development and commercialization.
- On December 2021, Lupin, a major pharmaceutical company, announced its diagnostic business launch in India.
- On December 2021, Quidel Corporation, a diagnostic healthcare manufacturer, announced the acquisition of Ortho Clinical Diagnostics.
To read more about the latest highlights related to the clinical diagnostics market, get a snapshot of the key highlights entailed in the Global Clinical Diagnostics Market Report
Clinical Diagnostics Overview
Clinical Diagnosis (Dx) is the identification and confirmation of a disease or disorder, or exposure to xenobiotics, to explain the patient's clinical manifestations. It is also used to assess an individual's health (routine health checkup), the functioning of any organ or associated metabolic process (such as the extent of damage caused to an organ due to disease or injury and improvement in organ function due to treatment), and to distinguish one disease from another, particularly when similar manifestations are associated with multiple diseases or comorbid conditions occur.
Clinical diagnostics refers to the various methods and equipment used to monitor and diagnose a medical condition. General and organ function, infectious disease, and imaging tests are some of the most common and routinely performed clinical diagnostic tests.
Clinical Diagnostics Market Insights
The global clinical diagnostics market is studied geographically for North America, Europe, Asia-Pacific, and the Rest of the World. North America currently leads the global market in terms of revenue share and is expected to maintain that position during the forecasted period. This dominance is due to the region’s growing government initiatives promoting the wider adoption of point-of-care clinical diagnosis methods in addition to traditional ones. Furthermore, companies expanding laboratory testing by launching new products are expected to boost clinical diagnostics growth during the forecasted period by increasing the clinical diagnostic market in various countries (2022–2027).
To know more about why North America is leading the market growth in the clinical diagnostics market, get a snapshot of the Clinical Diagnostics Market Outlook
Clinical Diagnostics Market Dynamics
The clinical diagnostics market is currently gaining traction due to an increase in the cases of various chronic disorders such as cardiovascular disease, diabetes, cancer, and others. Furthermore, rising cancer cases worldwide are expected to increase the demand for clinical diagnosis. Early cancer detection improves the chances of better treatment by focusing on detecting symptomatic patients as soon as possible.
Furthermore, the increase in infectious diseases such as COVID-19, bacterial diseases, and fungal diseases, among others, is expected to increase demand for clinical diagnosis globally, thereby increasing the market during the forecasted period.
However, challenges in developing accurate diagnostic tests and equipment and the high cost of clinical diagnostic lab equipment are likely to slow the clinical diagnostics market growth.
Although the COVID-19 pandemic had a negative impact on various healthcare sectors in the early stages, the market for clinical diagnostics was unaffected. This is due to collaborations and strategic partnerships among governmental organizations to increase COVID-19 infection detection.
Furthermore, the approval of various diagnostic kits for detecting COVID-19 infection boosted the clinical diagnostics market during the pandemic.
Get a sneak peek at the clinical diagnostics market dynamics @Clinical Diagnostics Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Market CAGR | 6.49% |
| Clinical Diagnostics Market Size in 2021 | USD 70.11 Billion |
| Key Clinical Diagnostics Companies | Abbott, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG, Hologic, Inc., Qiagen NV, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Sysmex, Sonic Healthcare Ltd, Exact Sciences Corporation, NeoGenomics, Inc., BioReference Laboratories, Laboratory Corporation of America® Holdings, DiaSorin, PerkinElmer Inc., FUJIFILM Corporation, among others |
Clinical Diagnostics Market Assessment
- Clinical Diagnostics Market Segmentation
- Market Segmentation By Type: Product Type (Instruments, Kits & Reagents), Services
- Market Segmentation By Test: Complete Blood Count, Metabolic Panel, Lipid Panel, Cancer Testing Panel, Liver Panel, Infectious Disease Testing, Others
- Market Segmentation By End User: Hospitals, Pathology Labs, Clinics, And Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the clinical diagnostics market are set to emerge as the trendsetter explore @Clinical Diagnostics Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Clinical Diagnostics Market |
| 7 | Clinical Diagnostics Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Clinical Diagnostics Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the clinical diagnostics market by 2027? Click to get a snapshot of the Clinical Diagnostics Market Trends
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DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
