Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) -- The "Clinical Chemistry Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global landscape of clinical chemistry, a pivotal discipline in medical diagnostics, is undergoing significant transformation. A comprehensive market research report added to the industry's leading market analysis repository highlights this sector's robust growth trajectory, augmented by innovative technologies and an expanding aged populace.
The clinical chemistry market, characterized by meticulous measurement of crucial biomolecules in bodily fluids, is poised for substantial growth, fueled by advanced analyzer systems and an aging demographic. As the primary drivers, these factors are set to redefine how healthcare professionals diagnose and manage diseases.
Significant Market Growth Driven by Demand for Diagnostics and Aging Population
In the realm of healthcare, clinical chemistry represents a cornerstone, offering insights into the concentrations of vital analytes within the human body. As reported, the market size is forecasted to reach a value of $15.02 billion in 2024, ascending from $14.04 billion in 2023, at an impressive CAGR of 7.0%. The growth can be ascribed to an uptick in diagnostic testing needs, amplified healthcare investments, the surging geriatric population, and a collective focus on disease detection.
Looking ahead, the expansion is predicted to continue, with the market poised to hit the $20.06 billion mark by 2028. A CAGR of 7.5% reflects the sector's positive response to burgeoning demand for individualized healthcare, biomarker discovery, and strategies to counteract emerging infectious diseases.
Chronic Diseases and Technological Advancements Propel Market Dynamics
The prevalence of chronic illnesses is a critical catalyst propelling market growth. Chronic diseases necessitate continual care due to their lasting impact on global health, with conditions like diabetes and cardiovascular disease underscored as leading contributors to mortality and disability worldwide. As chronic diseases account for a staggering 74% of worldwide deaths annually, clinical chemistry's role becomes ever more crucial in disease management and risk appraisal. This upward trend is mirrored in the utilization of clinical chemistry resources for infectious disease and flu research.
Additionally, the clinical chemistry market is benefiting from a burgeoning elderly population. As this segment of society grows, so does the demand for clinical chemistry services, which are vital in managing age-related health issues. By 2030, older adults are expected to represent one-sixth of the global population, a statistic that undeniably influences market growth.
A selection of companies mentioned in this report includes
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd.
- ELITechGroup SAS
- Beckman Coulter Inc.
- Thermo Fisher Scientific Inc.
- Siemens AG
- Ortho Clinical Diagnostics Holdings plc
- Diatron Mi Apac Private Limited
- Nova Biomedical Corporation
- Johnson & Johnson Services Inc.
- Alfa Wassermann USA Inc.
- HORIBA Ltd.
- Mindray Medical International Limited
- Randox Laboratories Limited
- SYNLAB International GmbH
- Agilent Technologies Inc.
- Alcami Corporation
- ARUP Laboratories Inc.
- Bio-Rad Laboratories Inc.
- Bruker Corporation
- Charles River Laboratories International Inc.
- Danaher Corporation
- Eurofins Scientific SE
- GE Healthcare Technologies Ltd.
- Horiba Medical Inc.
- Laboratory Corporation
- Luminex Corporation
- Medtronic plc
- PerkinElmer Inc.
- Quest Diagnostics Incorporated
- Sysmex Corporation
- Tosoh Corporation
- Trinity Biotech plc
- Waters Corporation
- Werfen S.A.
For more information about this report visit https://www.researchandmarkets.com/r/lyca87
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