Increasing incidence of chronic and infectious diseases is estimated to drive market growth.
Market Size – USD 213.14 billion in 2018, Market Growth – CAGR of 6.2%, Market Trends – Growing awareness among people
The global clinical laboratory market is expected to reach USD 346.81 Billion by 2026, according to a new report by Reports and Data. Clinical laboratories provide information and services, deployed to make the best use of the essential services provided in the healthcare system including diagnostics and tests results.
Escalating awareness among people and the possibility of disease management in the situation of a disease being diagnosed in the earlier stage is estimated to stimulate market demand in the future. Accessibility to proper healthcare systems along with advancements in diagnostic technology is expected to support the growth of the market. Additionally, efforts taken to deter emerging infectious diseases (infections that have lately been seen within a population or those whose occurrence or geographic range is swiftly increasing or threatens to rise in the near future) such as Ebola, is anticipated to fuel the market growth in the forecast period.
The surging awareness regarding the timely diagnosis of diseases, particularly in a rapidly aging population, is likely to boost the growth of the market. The growing application of high-throughput assays in the drug-discovery process is expected to promote market growth in the upcoming years.
Strict regulatory norms imposed by governments across the globe and scarcity of skilled and certified professionals may create hindrances in the growth of the market in the upcoming years.
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The report provides a complete coverage of the recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others. To offer a clear understanding of the scope of the industry, competitive landscape and different progressive aspects are studied extensively in the report.
Key companies operating in the global market and profiled in the report include:
Abbot Laboratories, ARUP Laboratories, OPKO Health Inc., Sonic Healthcare, Charles River Laboratories International Inc., Neogenomics Laboratories Inc., Fresenius Medical Care, QIAGEN, Quest Diagnostic Inc., and Siemens AG among others.
The report further offers insights into company overviews, business landscape, production and manufacturing capacity, product portfolio, financial standing, global market position, gross profit margins, SWOT analysis and Porter’s Five Forces analysis for each company. The report also covers feasibility analysis and investment return analysis to offer deeper insights into market landscape and industrial chain.
Clinical Laboratory Market Segmentation:
Type Outlook (Revenue, USD Million; 2016-2026)
- Clinical Chemistry Laboratory
- Pathology Anatomic Laboratory
- Microbiology Laboratory
Test Type Outlook (Revenue, USD Million; 2016-2026)
- Routine Testing
- Medical Microbiology & Cytology Testing
- Esoteric Testing
End-user Outlook (Revenue, USD Million; 2016-2026)
- Stand-Alone Laboratories
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The report discusses in detail the geographical spread of the market in key regions of the world including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report studies the region expected to dominate market growth over the forecast period. The report also talks about the key factors such as supply and demand ratio, production and consumption patterns, consumer demands, technological advancement, research activities, and presence of key players that can influence vital parameters such as market size, market trends, market share, and revenue generation in each region.
Regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report utilizes advanced analytical tools to research, gather, and analyze data. The in-depth research report has been formulated through extensive primary and secondary research and the data has been further validated and verified from industry experts, professionals, and research analysts. The report also offers strategic recommendations to key market players and novice players to overcome barriers and limitations and gain a robust footing in the market.
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