The global clinical laboratory services market size reached US$ 244.7 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 383.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.13% during 2023-2032. The growing demand for diagnostic tests, such as blood glucose tests, HbA1c testing, and lipid profiles to manage diabetes, rising reliance on telehealth to access clinical laboratory services as it can reduce barriers to healthcare and increase overall testing volumes, and increasing trend of precision medicines are positively influencing the market.
These screening tests allow for timely intervention that can assist in preventing progression of diabetes. People are preferring point-of-care testing (POCT) as it allows rapid testing and immediate results. This testing is more successful for monitoring patients with diabetes. As per the data published on the website of IDF Diabetes Atlas, it is projected that around 783 million people will be suffering from diabetes by 2045.
Companion diagnostics are tests used to identify biomarkers to calculate the success rate of any specific targeted therapy. After knowing this, treatment choices in oncology, infectious diseases, and other therapeutic areas can be optimized. It is very important to analyze genetic variations to monitor the respond of medications in individuals, and pharmacogenomic plays an important role in this analysis. Clinical laboratories provide pharmacogenomic testing to predict drug efficacy, dosage requirements, and potential adverse reactions.
expanded their collaboration to deliver faster, easier, and more effective telehealth services. Home-based kits are distributed by clinical laboratories and then they process the samples collected at home to provide accurate diagnostic results remotely through telehealth platforms, thereby offering a favorable clinical laboratory services market outlook.
Clinical chemistry can be defined as a broad range of tests that assess the biochemical components of blood, urine, and other bodily fluids. To diagnose and track a variety of medical disorders, these tests are important as they can provide vital information on hormone levels, organ function, electrolyte balance, and metabolic processes. Regular health screenings and follow-up care for patients with chronic diseases also include a large number of clinical chemistry tests. To evaluate general health status and identify problems, tests such as complete metabolic panels (CMP) and basic metabolic panels (BMP) are frequently ordered.
Hospital-based laboratories are essential components of healthcare facilities because they are closely linked to the whole range of patient services. Within the hospital setting, they provide diagnostic services for surgical units, outpatient clinics, inpatients, and patients in the emergency room. A wide variety of diagnostic tests are usually available at hospital laboratories to support different patient demographics and medical specialties. Clinical chemistry, hematology, immunology, microbiology, molecular diagnostics, and pathology services are all included in this. They offer a one-stop shop for a variety of diagnostic testing requirements.
Clinical diagnostics and biomedical research depend heavily on a wide range of tests and analyses that are provided by bioanalytical and lab chemistry services. Assays for biomarkers, drug concentrations, metabolites, and other biochemical components in biological samples are among the services provided by these labs. Pharmacokinetic (PK) and pharmacodynamic (PD) investigations are two important steps in the drug development process that bioanalytical services provide for the pharmaceutical and biotechnology industries. Clinical laboratories offer bioanalytical services for measuring drug concentrations in biological matrices, evaluating medication safety and efficacy in clinical trials, and assessing drug metabolism.
North America has highly developed healthcare systems with cutting-edge infrastructure and widespread access to healthcare services, especially in the United States and Canada. This includes a reputable network of clinics, hospitals, and diagnostic labs that provide a wide range of clinical laboratory services. When it comes to healthcare spending worldwide, the US regularly comes in top. The rapid rise of clinical laboratory services can be attributed to the significant investments made in healthcare infrastructure, technology, and services.
The market-driving initiatives of illness monitoring, tailored medication, and diagnostic testing are bolstered by healthcare spending. Key players operating in US also focusing on providing tests that support novel technology. For instance, in 2023, Dutch biotech firm Detact Diagnostics’ announced about its plans to begin bacterial detection sampling at its laboratory in the Keene State College situated in the US.
Clinical Laboratory Services Market Analysis:
- Major Market Drivers: The rising need for genetic testing, genomic sequencing, and molecular diagnostics to identify biomarkers, genetic variations, and specific molecular targets for precision medicines is propelling the market growth.
- Key Market Trends: The growing trend of telehealth, which enable people to access healthcare services even at remote locations is offering a favorable market outlook.
- Geographical Trends: North America is enjoying the leading position on account of its highly developed healthcare systems with cutting-edge infrastructure and widespread access to healthcare services.
- Competitive Landscape: Some of the major market players in the clinical laboratory services industry include Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Charles River Laboratories, F. Hoffmann-La Roche Ltd, Illumina Inc., NeoGenomics Laboratories Inc., Quest Diagnostics Incorporated, Siemens Healthcare GmbH (Siemens AG), Thermo Fisher Scientific Inc., among many others.
- Challenges and Opportunities: While the market faces challenges, such as regulatory compliance, high operational costs, and maintaining accuracy and reliability of tests, it also encounters opportunities in diagnostic technologies, personalized medicine, and remote diagnostic services.
Clinical Laboratory Services Market Trends:
Rising prevalence of diabetes
There is a rise in the demand for diagnostic tests, such as blood glucose tests, HbA1c testing, and lipid profiles, to manage diabetes. These tests are also crucial for diagnosing diabetes, monitoring blood sugar levels, and assessing associated cardiovascular risk factors. To effectively manage diabetes, there is a need of monitoring blood glucose levels regularly. Clinical laboratories are very essential as they can help in monitoring glycemic control, kidney function, lipid levels, and other biomarkers. For preventing complications, such as diabetic retinopathy, nephropathy, and neuropathy, clinical laboratories perform screening tests.These screening tests allow for timely intervention that can assist in preventing progression of diabetes. People are preferring point-of-care testing (POCT) as it allows rapid testing and immediate results. This testing is more successful for monitoring patients with diabetes. As per the data published on the website of IDF Diabetes Atlas, it is projected that around 783 million people will be suffering from diabetes by 2045.
Growing demand for precision medicine
The report shows that the global precision medicine market reached US$ 75.2 Billion in 2023. Genetic testing, genomic sequencing, and molecular diagnostics are important for precision medicines to identify biomarkers, genetic variations, and specific molecular targets. These tests are performed in clinical laboratories, as they help in predicting disease risks, selecting most effective therapies as individual’s genetic characteristics, and guiding treatment decisions. To develop and perform companion diagnostics, clinical laboratories are very crucial, which is strengthening the clinical laboratory services market growth.Companion diagnostics are tests used to identify biomarkers to calculate the success rate of any specific targeted therapy. After knowing this, treatment choices in oncology, infectious diseases, and other therapeutic areas can be optimized. It is very important to analyze genetic variations to monitor the respond of medications in individuals, and pharmacogenomic plays an important role in this analysis. Clinical laboratories provide pharmacogenomic testing to predict drug efficacy, dosage requirements, and potential adverse reactions.
Increasing trend of telehealth
People are preferring telehealth nowadays, as it can help connect with doctors even if they are at remote locations. They can also access clinical laboratory services through telehealth platforms, reducing barriers to healthcare and increasing overall testing volumes. It becomes easy to monitor chronic conditions like diabetes remotely through telehealth. Clinical laboratories are very important for the ongoing management of this diseases and improving patient outcomes. Key players operating in the telehealth market are focusing on collaborations and partnerships to expand their customer base. For instance, in 2023, Oracle and Zoom Video Communications, Inc.expanded their collaboration to deliver faster, easier, and more effective telehealth services. Home-based kits are distributed by clinical laboratories and then they process the samples collected at home to provide accurate diagnostic results remotely through telehealth platforms, thereby offering a favorable clinical laboratory services market outlook.
Clinical Laboratory Services Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on test type, service provider, and application.Breakup by Test Type:
- Human and Tumor Genetics
- Clinical Chemistry
- Medical Microbiology and Cytology
- Others
Clinical chemistry accounts for the majority of the market share
Clinical chemistry can be defined as a broad range of tests that assess the biochemical components of blood, urine, and other bodily fluids. To diagnose and track a variety of medical disorders, these tests are important as they can provide vital information on hormone levels, organ function, electrolyte balance, and metabolic processes. Regular health screenings and follow-up care for patients with chronic diseases also include a large number of clinical chemistry tests. To evaluate general health status and identify problems, tests such as complete metabolic panels (CMP) and basic metabolic panels (BMP) are frequently ordered.
Breakup by Service Provider:
- Hospital-Based Laboratories
- Stand-Alone Laboratories
- Clinic-Based Laboratories
Hospital-based laboratories hold the largest share of the industry
Hospital-based laboratories are essential components of healthcare facilities because they are closely linked to the whole range of patient services. Within the hospital setting, they provide diagnostic services for surgical units, outpatient clinics, inpatients, and patients in the emergency room. A wide variety of diagnostic tests are usually available at hospital laboratories to support different patient demographics and medical specialties. Clinical chemistry, hematology, immunology, microbiology, molecular diagnostics, and pathology services are all included in this. They offer a one-stop shop for a variety of diagnostic testing requirements.
Breakup by Application:
- Bioanalytical and Lab Chemistry Services
- Toxicology Testing Services
- Cell and Gene Therapy Related Services
- Preclinical and Clinical Trial Related Services
- Drug Discovery and Development Related Services
- Others
Bioanalytical and lab chemistry services represent the leading market segment
Clinical diagnostics and biomedical research depend heavily on a wide range of tests and analyses that are provided by bioanalytical and lab chemistry services. Assays for biomarkers, drug concentrations, metabolites, and other biochemical components in biological samples are among the services provided by these labs. Pharmacokinetic (PK) and pharmacodynamic (PD) investigations are two important steps in the drug development process that bioanalytical services provide for the pharmaceutical and biotechnology industries. Clinical laboratories offer bioanalytical services for measuring drug concentrations in biological matrices, evaluating medication safety and efficacy in clinical trials, and assessing drug metabolism.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America leads the market, accounting for the largest clinical laboratory services market share
North America has highly developed healthcare systems with cutting-edge infrastructure and widespread access to healthcare services, especially in the United States and Canada. This includes a reputable network of clinics, hospitals, and diagnostic labs that provide a wide range of clinical laboratory services. When it comes to healthcare spending worldwide, the US regularly comes in top. The rapid rise of clinical laboratory services can be attributed to the significant investments made in healthcare infrastructure, technology, and services.
The market-driving initiatives of illness monitoring, tailored medication, and diagnostic testing are bolstered by healthcare spending. Key players operating in US also focusing on providing tests that support novel technology. For instance, in 2023, Dutch biotech firm Detact Diagnostics’ announced about its plans to begin bacterial detection sampling at its laboratory in the Keene State College situated in the US.
Competitive Landscape:
- The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the clinical laboratory services industry include Abbott Laboratories, Becton, Dickinson and Company, bioMérieux SA, Charles River Laboratories, F. Hoffmann-La Roche Ltd, Illumina Inc., NeoGenomics Laboratories Inc., Quest Diagnostics Incorporated, Siemens Healthcare GmbH (Siemens AG), and Thermo Fisher Scientific Inc.
- Leading clinical laboratory services companies are aggressively pursuing a range of tactics to fortify their positions in the market and satisfy the expanding need for diagnostic tests. Businesses are reaching more patients worldwide and providing a wider choice of tests by partnering with other companies and increasing their service portfolios through acquisitions. For instance, in 2023, Labcorp, a global leader of innovative and comprehensive laboratory services, announced an agreement with Tufts Medicine, a leading integrated academic health system in Massachusetts, to acquire the Tufts Medicine outreach laboratory business and select operating assets as a first step towards a larger strategic partnership. Major firms are also making significant investments in cutting-edge technologies including automation, digital pathology, and next-generation sequencing to increase the precision, effectiveness, and turnaround times of their services. By creating and utilizing specific tests for genetic and molecular diagnostics, they are also concentrating on customized medicine, which supports precision medicine and focused therapeutics.
Clinical Laboratory Services Market News:
- In 2023: DiaCarta Ltd. announced that the company has formed strategic partnership with New Jersey-based Hopkins MedTech Compliance (HMC) and Hopkins MedTech Lab Services (HML) to support the unmet needs for regulatory compliance and laboratory developed test (LDT) validation of in vitro diagnostics (IVD) in the United States.
- In 2023: Aegis Sciences Corporation acquired HealthTrackRx’s Toxicology business unit to enhance its toxicology portfolio.
Key Questions Answered in This Report:
- How has the global clinical laboratory services market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global market?
- What is the impact of each driver, restraint, and opportunity on the global market?
- What are the key regional markets?
- Which countries represent the most attractive market?
- What is the breakup of the market based on the test type?
- Which is the most attractive test type in the market?
- What is the breakup of the market based on the service provider?
- Which is the most attractive service provider in the market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the market?
- What is the competitive structure of the market?
- Who are the key players/companies in the global clinical laboratory services market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Clinical Laboratory Services Market
6 Market Breakup by Test Type
7 Market Breakup by Service Provider
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- Becton
- Dickinson
- Company
- bioMérieux SA
- Charles River Laboratories
- F. Hoffmann-La Roche Ltd
- Illumina Inc.
- NeoGenomics Laboratories Inc.
- Quest Diagnostics Incorporated
- Siemens Healthcare GmbH (Siemens AG)
- Thermo Fisher Scientific Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 244.7 Billion |
| Forecasted Market Value ( USD | $ 383.9 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
