Clinical Laboratory Industry Data Book - Clinical Laboratory Tests and Clinical Laboratory Service Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Clinical Laboratory Industry was valued at USD 321.20 billion in 2022 and is anticipated to increase at a significant CAGR of 5.52% from 2023 to 2030.

Grand View Research’s clinical laboratory industry data book is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.

Clinical Laboratory Tests Market Insights

The global clinical laboratory tests market size was estimated at USD 103.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.42% from 2023 to 2030. The clinical laboratory tests market is witnessing growth due to factors such as the rising geriatric population, growing prevalence of target diseases, and introduction of innovative solutions to meet the growing demand of market for clinical lab testing. The increasing prevalence of diseases such as cardiovascular diseases and diabetes is expected to be a significant driver of market growth over the forecast period.

According to the WHO, globally cardiovascular diseases cause approximately 17.9 million deaths each year, primarily due to heart disease and stroke as of 2021. Additionally, the prevalence of diabetes is constantly increasing, creating a substantial patient pool for the clinical laboratory test market. Drastic lifestyle changes, such as a growing number of smokers globally, rising obesity rates, and dietary irregularities, are major contributors to the high global prevalence of cardiovascular diseases. The added risk of developing cardiovascular conditions due to SARS-CoV-2 emphasizes the significant use of clinical laboratory tests for risk stratification. The increasing disease burden indicates market growth during the forecasted period.

According to WHO, life expectancy is now exceeding 80 years in most developed economies. Aging is influenced by the interaction of several environmental and genetic factors that affect immunity and metabolism, affecting the function of organs, and is characterized as a substantial risk factor for infectious disease development. The general purpose of clinical laboratory tests is to assist in identifying signs of nutrient deficiencies, detecting changes in health, evaluating bodily functions such as those of the kidney, liver, or thyroid, and monitoring the progression of treatment or disease. Thus, screening and diagnostics can play important role in the management of overall health. Thus, with an increase in the geriatric population, the need for acute and long-term healthcare is also rising, thereby driving the growth of market globally.

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Clinical Laboratory Service Market Insights

The global clinical laboratory services market size was estimated at USD 217.53 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.24% from 2023 to 2030. The market growth is due to the factors such as increasing burden of chronic diseases and growing demand for early diagnostic tests. Moreover, rapid advancements in data management and sample preparation due to growing volumes of testing samples are anticipated to boost market growth during the forecast period.

Clinical lab services are widely used for variety of applications, primarily for detecting and quantifying different biological substances. Variations in biomolecular concentrations can indicate various abnormal metabolic activities, infections, infectious and non-infectious diseases, and inflammatory conditions. To ensure optimal clinical results and overall public health, it's vital to rapidly and accurately diagnose severe illnesses and administer appropriate treatment.

Automation in clinical settings has significantly improved the data management process in laboratories. Growing adoption of laboratory automation systems is expected to boost the market during the forecast period. Furthermore, database management tools, patient test records, and integrated workflow management systems have received significant consideration in the healthcare industry. This can be attributed mainly to companies that are involved in processing nearly 100 to 150 billion samples per year. Hence, improvement & implementation of informatics and automated data management solutions to perform seamless operations are anticipated to drive the market.

Go through the table of content of Clinical Laboratory Industry Data Book to get a better understanding of the Coverage & Scope of the study

Clinical Laboratory Industry Data Book Competitive Landscape

Competitive rivalry in this market is to be high due to a large number of service providers, increasing number of contract research organizations, and high R&D investment to develop novel tests for different healthcare applications.

Key players operating in the Clinical Laboratory Industry are:

• Abbott
• ARUP Laboratories
• OPKO Health, Inc.
• Bioscientia Healthcare GmbH
• Charles River Laboratories

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. 

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