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Clinical Laboratory Services Market

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Clinical laboratory tests are an integral part of healthcare industry, aiding effective diagnosis of diseases.
Global Clinical Laboratory Services Market, By Test Type
and Service Provider - Trends, Analysis and Forecast till
2024
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.
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The global clinical laboratory services market was valued at US$ 168.9 billion in 2015 and is
projected to expand at a CAGR of 7.3% during the forecast period (2016 – 2024).
Market Dynamics
According to the United Nations 2015 World Population Prospects Report, the number of people
aged 60 years and above is expected to grow by 56% to reach 1.4 billion by 2050. Aging
increases the risk of infections and chronic disorders such as arthritis, atherosclerosis, cancer,
liver diseases, and diabetes. This makes the geriatric population a key target group for
diagnostic tests. Increasing health consciousness and awareness among people for regular-health
check-ups for identifying signs of any disease have also increased number of visits to
laboratories. Also, diagnostic laboratories are launching multiple health packages for routine
health check-ups and encouraging the general population to perform routine health check-up at
least once a year. Such initiatives from the clinical test service providers is also fueling the
demand for clinical laboratory services.
Report includes chapters which deeply display the following deliverable about industry :
• Global Clinical Laboratory Services Market Research Objective and Assumption
• Global Clinical Laboratory Services Market Purview - Report Description, Executive Summary,
and Coherent Opportunity Map (COM)
• Global Clinical Laboratory Services Market Dynamics, Regulations, and Trends Analysis Market Dynamics, Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system
Launch/Approvals, Value Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Global Clinical Laboratory Services Market, By Regions
• Global Clinical Laboratory Services Market Competition by Manufacturers including
Production, Share, Revenue, Average Price, Manufacturing Base Distribution, Sales Area and
Product Type.
• Global Clinical Laboratory Services Market Manufacturers Profiles/Analysis including Company
Basic Information, Manufacturing Base and Its Competitors.
• Global Clinical Laboratory Services Market Manufacturing Cost Analysis including Key Raw
Materials and Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market
Positioning and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Global Clinical Laboratory Services Market Forecast including Production, Consumption, Import
and Export Forecast by Type, Applications and Region.
• Research Findings and Conclusion
Market Taxonomy
This report segments the global clinical laboratory services market on the basis of test type and
service provider. On the basis of test type, the global clinical laboratory services market is
classified as clinical chemistry, medical microbiology & cytology, human & tumor genetics, and
other esoteric tests. Service providers include clinic-based laboratories, hospital-based clinical
laboratories, and standalone clinical laboratories.
Rising susceptibility of geriatric population to chronic diseases is expected to drive growth of
the market
According to the U.S. Census Bureau Report in 2015, around 8.5% of the world population was
aged 65 years and above and is expected to reach around 12% of the world population by
2030. Moreover, as per the report, geriatric population is expected to be significantly higher in
emerging economies of Asia and Latin America. Moreover, deaths caused due to noncommunicable diseases such as cardiovascular diseases, lung disorders, cancer, and stroke is
increasing rapidly worldwide, according to the U.S. Census Bureau Report. This alarming trend
is mainly observed in emerging economies of Asia, Africa, and Latin America. Therefore, rising
geriatric population and increasing risk of diseases, especially non-communicable diseases is
expected to increase the demand for clinical laboratory service providers over the forecast
period.
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Key companies covered as a part of this study include Abbott Laboratories, Laboratory
Corporation of America Holdings (Labcorp), Bio-Reference Laboratories, ARUP Laboratories,
Charles River Laboratories, Labco S.A., Genoptix Medical Laboratory, Quest Diagnostics, Inc.,
Healthscope Ltd., Spectra Laboratories and Sonic Healthcare Limited
About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering actionready syndicated research reports, custom market analysis, consulting services, and competitive
analysis through various recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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Author
Alex Huge
Alex Huge186   documents Email
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