Global Clinical Laboratory Services Market, By Test Type (Clinical Chemistry, Medical Microbiology & Cytology, Human & Tumor Genetics, Other Esoteric Tests), Service Provider(Clinic-based, Hospital-based, Standalone), and Geography - Trends, Analysis and Forecast till 2024 [DATE] [COMPANY NAME] [Company address] CLINICAL LABORATORY SERVICES MARKET TO SURPASS US$ 315 MILLION BY 2024 Report Description Clinical Laboratory Service – Be informed of your health in advance Around 70% of medical decisions are based on lab results, as revealed by statistic released by Quest Diagnostics. Thus, optimization of laboratory facilities to deliver quality and cost-effective patient care is of utmost importance for clinical laboratory service providers. The three major types of clinical laboratory service providers are hospital-based laboratories, clinic-based laboratories and standalone laboratories. Major factors impacting the dynamics of global clinical laboratory service market include growing aging population, increasing disease burden, and increasing number of preventive health check-ups. The global clinical laboratory services market was valued at US$ 168.9 million in 2015 and is projected to expand at a CAGR of 6.4% during the forecast period (2016 – 2024). Get Free Sample Report @ https://www.coherentmarketinsights.com/insight/request-sample/87 Growing susceptibility of aging population to chronic diseases According to the U.S. Census Bureau Report in 2015, around 8.5% of the world population was aged 65 years and above, which is expected to reach 12% of the world population by 2030. Moreover, the report states that growth of the geriatric population would be significantly higher in developing regions of Asia and Latin America. The report further stats that deaths due to non-communicable diseases such as cardiovascular diseases, lung disorders, cancer, and stroke is increasing at a rapid rate across the globe. This alarming trend is especially prevalent in the developing countries in Asia, Africa, and Latin America. Thus, increasing elderly population and growing risk of diseases, especially non-communicable diseases is projected to significantly increase test volumes for clinical laboratory service providers during the forecast period. Increasing uptake of routine health tests by consumers Increasing health concerns coupled with growing risk of transmittable diseases among the populace is leading to rapid uptake in routine health check-ups by consumers. Unhealthy food habits is making the human population vulnerable to bacterial and viral infections. Demand is especially high for tests to detect malaria and tuberculosis, which are highly prevalent in tropical regions such as South Asia, Africa, and Latin America. Therefore, growth of the clinical laboratory services market in Latin America and Africa is projected to expand at a relatively high CAGR of 8.1% during the forecast period. Get Free Request Customization @ https://www.coherentmarketinsights.com/insight/requestcustomization/87 Following test guidelines are essential to prevent false-positive results The clinical laboratory service providers need to adopt ethical and efficient clinical practices to avoid false positive results. In December 2016, the U.S. FDA issued a safety alert for ZIKA virus test takers, following reports that showed increasing false-positive results from ZIKV Detect test. Market consolidation: The prevalent trend in the market The global market for clinical laboratory services is undergoing consolidation. Laboratory Corporation of America Holdings (LabCorp) acquired Sequenom, Inc. in July 2016, thereby becoming the leader in noninvasive prenatal testing (NIPT) for reproductive health. The company also acquired ClearPath Diagnostics, a leading clinical laboratory service provider in Northeastern region of U.S., in October 2016. Inorganic growth strategies would continue to be a part of future roadmap for leading healthcare service providers in the long run in order to ensure sustained growth. About Us COMPANY OVERVIEW Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We offer both customized and syndicated market research reports that help our clients create visionary growth plans to provide traction to their business. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele. Our global team of over 100 research analysts and freelance consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market. Our team is of the most vital cog in our robust machinery that gives us the ability to deliver independent insight relying on our cognitive defusion training module.This allows for an objective and unbiased assessment of the market. We pride ourselves in my constantly striving to update our extremely in-depth understanding of the market by closely monitoring and analyzing markets, trends, and emerging best practices, across allfathomable industries under the sun. This enables us to equip our valued clientele with key decisive inputs to capitalize on lucrative growth opportunities in the market and to follow firmly position themselves on a high growth path in the future. Contact Us CONTACT US CORPORATE OFFICE: Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected] Website: https://www.coherentmarketinsights.com/ Visit Blog : http://globalresearchtrends.blogspot.in/

Around 70% of medical decisions are based on lab results, as revealed by statistic released by Quest Diagnostics. Thus, optimization of laboratory facilities to deliver quality and cost-effective patient care is of utmost importance for clinical laboratory service providers. The three major types of clinical laboratory service providers are hospital-based laboratories, clinic-based laboratories and standalone laboratories. Major factors impacting the dynamics of global clinical laboratory service market include growing aging population, increasing disease burden, and increasing number of preventive health check-ups. The global clinical laboratory services market was valued at US$ 168.9 million in 2015 and is projected to expand at a CAGR of 6.4% during the forecast period (2016 – 2024).