The global Clinical Laboratory Services market accrued earnings worth approximately 251(USD Billion) in 2020 and is predicted to gain revenue of about 615 (USD Billion) by 2028, is set to record a CAGR of nearly 5.1% over the period from 2021 to 2028.
The global Clinical Laboratory Services market accrued earnings worth approximately 251(USD Billion) in 2020 and is predicted to gain revenue of about 615 (USD Billion) by 2028, is set to record a CAGR of nearly 5.1% over the period from 2021 to 2028. The report offers assessment and analysis of the Clinical Laboratory Services market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).
Clinical labs offer a slew of healthcare facilities and aid doctors in effectively diagnosing, treating, and managing patients. Furthermore, clinical lab solutions are designed for providing information & solutions for optimizing diagnosis, healthcare, and medical treatment. This, in turn, helps in minimizing complexity of medical system. Apparently, data derived through use of clinical lab services helps healthcare experts for taking therapeutic & evidence-driven diagnostic decisions accurately. With large number of clinical labs located at vicinity of hospitals and clinics, there is easy access to effective clinical lab services for both patients and doctors. Moreover, clinical labs deliver high quality diagnostic testing solutions, thereby contributing significantly towards clinical laboratory services market size in coming years.
Surge in awareness among candidates about early diagnosis & treatment of disease will expedite clinical laboratory services market earnings in years ahead. Additionally, a rampant increase in aging population prone to various kinds of chronic ailments will contribute notably towards clinical laboratory services market profitability over forecasting timeline. Escalating awareness about diagnosing of severe conditions pertaining to oncology, gynecology, and endocrinology will steer growth of clinical laboratory services industry over upcoming years. With acceptance of immunoassays, micro-assays, biochips, and companion diagnostics in biotechnology, market for clinical laboratory services is projected to take a huge leap over next couple of years. Rapid spread of COVID-19 has helped clinical laboratory services gain massive significance in recent years.
Furthermore, growing need for detecting root cause of disease, progression of disease, disease abnormalities, and physiological imbalances will lead to massive growth of clinical laboratory services industry over years ahead. Surging occurrence of chronic ailments will scoop up clinical laboratory services market expansion. However, changing healthcare regulations are anticipated to hamper growth of clinical laboratory services market in near future.
Report Attributes | Report Details |
---|---|
Report Name | Clinical Laboratory Services Market |
Market Size in 2020 | USD 251 Billion |
Market Forecast in 2028 | USD 615 Billion |
Compound Annual Growth Rate | CAGR of 5.1% |
Number of Pages | 175 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | Abbott Laboratories, Fresenius Medical Care, Siemens AG, Quest Diagnostics, Inc., Sonic Healthcare Limited, Novartis International AG, Eurofins Scientific, Carlyle Group, Sanofi S.A., Cinven, NeoGenomics, Inc., Laboratory Corporation of America Holdings, OPKO Health, Inc., and TPG Capital. |
Segments Covered | By Test Type, By Service Provider And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latian America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2020 |
Historical Year | 2016 to 2020 |
Forecast Year | 2021 - 2028 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America To Make Notable Contributions Towards Market Size By 2028
Growth of clinical laboratory services market in North America over assessment period is owing to rapid acceptance of technologically advanced diagnostics as well as easy access to tests in North America. Rise in geriatric population in countries such as the U.S. prone to chronic diseases such as Cancer and influenza will help in protruding of market growth over forthcoming years. Apparently, rise in funding of healthcare activities and large allocation of funds for public healthcare infrastructural growth in countries such as Canada and the U.S. will create new ripples of growth in regional market over forthcoming years.
Key players impacting industry landscape and profiled in report include Abbott Laboratories, Fresenius Medical Care, Siemens AG, Quest Diagnostics, Inc., Sonic Healthcare Limited, Novartis International AG, Eurofins Scientific, Carlyle Group, Sanofi S.A., Cinven, NeoGenomics, Inc., Laboratory Corporation of America Holdings, OPKO Health, Inc., and TPG Capital.
By Test Type
By Service Provider
By Region
FrequentlyAsked Questions
Surge in awareness among candidates about early diagnosis & treatment of disease will expedite clinical laboratory services market earnings in years ahead. Additionally, a rampant increase in aging population prone to various kinds of chronic ailments will contribute notably towards clinical laboratory services market profitability over forecasting timeline. Escalating awareness about diagnosing of severe conditions pertaining to oncology, gynecology, and endocrinology will steer growth of clinical laboratory services industry over upcoming years. With acceptance of immunoassays, micro-assays, biochips, and companion diagnostics in biotechnology, market for clinical laboratory services is projected to take a huge leap over next couple of years. Rapid spread of COVID-19 has helped clinical laboratory services gain massive significance in recent years. Furthermore, growing need for detecting root cause of disease, progression of disease, disease abnormalities, and physiological imbalances will lead to massive growth of clinical laboratory services industry over years ahead.
According to Zion market research report, the global Clinical Laboratory Services market accrued earnings worth approximately 251(USD Billion) in 2020 and is predicted to gain revenue of about 615 (USD Billion) by 2028, is set to record a CAGR of nearly 5.1% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to rapid acceptance of technologically advanced diagnostics as well as easy access to tests in North America. Rise in geriatric population in countries such as the U.S. prone to chronic diseases such as Cancer and influenza will help in protruding of market growth over forthcoming years. Apparently, rise in funding of healthcare activities and large allocation of funds for public healthcare infrastructural growth in countries such as Canada and the U.S. will create new ripples of growth in regional market over forthcoming years.
The key market participants include Abbott Laboratories, Fresenius Medical Care, Siemens AG, Quest Diagnostics, Inc., Sonic Healthcare Limited, Novartis International AG, Eurofins Scientific, Carlyle Group, Sanofi S.A., Cinven, NeoGenomics, Inc., Laboratory Corporation of America Holdings, OPKO Health, Inc., and TPG Capital.
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