Clinical laboratories are considered an integral part of the healthcare industry as almost 80.0% of physician’s diagnoses are dependent on laboratory tests. With hospital stays of patients getting shorter and contact time between patients and physicians getting reduced, clinical laboratory services which gather, interpret and deliver precise information to physicians at the right time are witnessing an increase in demand. Clinical laboratory services offer a range of tests that help in detecting abnormalities and disease progression; these include routine urine and blood tests to high-end genetic analysis such as molecular expression testing, fluorescence in-situ hybridization (FISH). Major drivers for clinical laboratory services market include rising incidence rates of chronic diseases, growing the global base of geriatric population and increasing patient awareness levels pertaining to disease diagnoses. Early disease detection facilitated by specialized diagnosis, particularly in the areas of gynecology, endocrinology, and oncology, is leading to physicians taking complete advantage of clinical laboratory services for disease diagnosis and treatment. Global clinical laboratory services market was valued at USD 174.14 billion in 2013.
Global clinical laboratory services market, by test type, 2012 – 2020 (USD Billion)
Test Type Insights
Clinical laboratory services market is segmented on the basis if tests, into human & tumor genetics, clinical chemistry, medical microbiology & cytology and other esoteric tests. The market for medical microbiology & cytology tests is expected to grow at the fastest CAGR during the forecast period owing to increasing incidence rates of infectious diseases globally, leading to an increase in procedure volumes. Clinical chemistry dominated the overall market in terms of revenue share in 2013 at over 45.0%. Growing prevalence of target diseases such as liver disorders, blood disorders, and cardiovascular diseases is the key factor accounting for its large share. Increasing incidence rates of drugs abuse cases and growing demand for point of care tests are also expected to drive the clinical chemistry based clinical laboratory services market.
Service Provider Insights
On the basis of service provider the clinical laboratory services market is segmented into hospital-based laboratories, stand-alone laboratories and clinic-based laboratories. Hospital-based laboratories are the largest segment of clinical laboratory services market. High patient volume and the consequent presence of high test volumes in these healthcare establishments are the primary reasons boosting segment growth. Stand-alone laboratories, on the other hand, are expected to grow at the fastest CAGR during the forecast period. Increasing demand for point of care tests and growing market penetration rates in emerging and underdeveloped markets of Asia Pacific, Latin American and African regions are some factors attributing to its rapid growth.
Key regional segments analyzed and estimated in the clinical laboratory services market include North America, Europe, Asia-Pacific and RoW. North America dominated the overall clinical laboratory services market in terms of revenue in 2013. Rising chronic disease prevalence unhealthy lifestyle habits and the presence of sophisticated healthcare infrastructure and favorable reimbursement policies are some factors accounting for high usage rates of clinical laboratory services in the region. Asia Pacific clinical laboratory services market, on the other hand, is expected to grow at the fastest CAGR during the forecast period. The presence of high unmet medical needs coupled with rapidly improving healthcare infrastructure in the emerging markets of India and China are some key drivers of this region.
Some key market players include Siemens Healthcare, Charles River Laboratories, Quest Diagnostics, Inc., Bioscientia Healthcare, Sonic Healthcare Limited, Abbott Laboratories, Bio-Reference Laboratories, Labco S.A., Healthscope Ltd., Spectra Laboratories, Labcorp, ARUP Laboratories, Genoptix Medical Laboratory, Qiagen, Clarient Inc., Genzyme Corporation. Participants operating in the clinical laboratory services market make constant endeavors to develop systems and products that will provide accurate results out of patient samples and also enable processing of thousands of samples at the same time. Moreover, key players of the clinical laboratory services market enter into strategic collaborations with large healthcare establishments in an attempt to widen patient base and ensure sustainability.
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