The global Clinical Laboratory Tests market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2022-2028. Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the clinical laboratory tests market include Abbott Laboratories, Inc., Quest Diagnostics, Inc., Sonic Healthcare Ltd., Siemens Healthineers, OPKO Health, Inc., Laboratory Corporation of America, LLC, Charles River Laboratories International, Inc., NeoGenomics Laboratories Inc., Genoptix, Inc., and Bioscientia Institut fr Medizinische Diagnostik GmbH. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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Market Dynamics
The global geriatric population is increasing rapidly, leading to increasing long term demand for proper disease diagnosis. The increasing healthcare need is supporting the global clinical laboratory tests market. Furthermore, factors that are boosting the clinical laboratory tests market include rising prevalence of metabolic, neurological, cardiovascular and other chronic diseases, rising hospital-acquired infections, growing demand for early detection of the disease, and rising advanced technology in laboratory testing. The global pandemic COVID-19 increased health awareness across the globe. As clinical laboratory tests can detect many diseases at an early stage, the demand for clinical laboratory tests is like to grow.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of clinical laboratory tests.
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Market Segmentation
The entire clinical laboratory tests market has been sub-categorized into product, test, department and service provider. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Product
1. Complete Blood Count
2. HGB/HCT Testing
3. Basic Metabolic Panel Testing
4. BUN Creatinine Testing
5. Electrolytes Testing
6. HbA1c Testing
7. Comprehensive Metabolic Panel Testing
8. Liver Panel Testing
· Hepatitis
· Bile Duct Obstruction
· Liver Cirrhosis
· Liver Cancer
· Bone Disease
· Autoimmune Disorders
· Others
9. Renal Panel Testing
10. Lipid Panel Testing
By Test
· Routine
· Specialty
By Department
1. Parasitology
2. Virology
3. Hematology
4. Toxicology
5. Immunology/Serology
6. Histopathology
7. Urinalysis
8. Others
· Microbiology
· Clinical Biochemistry
· Cytopathology
· Genetics
· Surgical Pathology
By Service Provider
· Hospital-Based Laboratories
· Stand-Alone Laboratories
· Clinic-Based Laboratories
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for clinical laboratory tests market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
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The global clinical laboratory tests market size is expected to reach USD 304.9 billion by 2027, according to a new report by Radiant Insights, Inc., registering a CAGR of 7.1% over the forecast period.
Introduction of new solutions for minimizing errors and maximizing efficiency is anticipated to boost the overall market growth.
Download Free Sample Report @ https://www.radiantinsights.com/research/clinical-laboratory-tests-market/request-sample According to an article published in Forbes, in 2018, the new clinical lab fee schedule reduced their overall payments by 10% as compared to 2017 for tests that represent nearly two-thirds of Medicare’s outlays for laboratory tests.
Presence of major players such as QIAGEN, Laboratory Corporation of America Holdings, Siemens Healthcare GmbH, Quest Diagnostics Incorporated, and Abbott is expected to fuel the market growth.
In November 2019, QIAGEN entered into a strategic agreement with Laboratory Corporation of America Holdings to extend its existing QIAGEN Clinical Insights license.
Further key findings from the report suggest: • In 2019, basic metabolic panel dominated the type segment owing to the increasing prevalence of lifestyle-induced diseases • Lipid panel is projected to register a CAGR of 8.0% over the forecast period owing to rising incidences of cardiovascular disorders globally • In 2019, hepatitis dominated the liver panel segment whereas liver cirrhosis is estimated to be the fastest-growing sub-segment over the forecast period • Central laboratories dominated the overall market in 2019 owing to the expansion of key laboratories such as Q2 Solutions and Pharmaceutical Product Development, LLC • Primary clinics is anticipated to register a significant CAGR of 7.6% from 2020 to 2027 owing to advancements such as portable and rapid diagnostic tests • North America dominated the global market in 2019 owing to the increasing geriatric population and high disease prevalence • Asia Pacific is projected to be the fastest-growing market over the forecast period owing to improving healthcare infrastructure.
Global Clinical Laboratory Tests Market is expected to reach USD 198.5 billion by 2024.
Clinical Laboratory Tests are the medical devices that are used for analysis of tissues, materials, or fluids obtained from patients to help in treatment and diagnosis of disease.
The Clinical Laboratory Tests Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.The factors playing a major role in the growth of Clinical Laboratory Tests are application and expansion of several data management and informatics solutions, increasing use of enhanced products like chemistry analyzers, and availability of favorable reimbursement policies.
However, strict government policies and inadequate reimbursements are the factors are expected to restrain overall market growth in the years to come.
Clinical Laboratory Tests Market is segmented based on type, end user, and region.Download Sample Report @ https://www.millioninsights.com/industry-reports/clinical-laboratory-tests-market/request-sampleLiver panel test, complete blood count, comprehensive metabolic panel tests, HGB/HCT tests, HbA1C tests, basic metabolic panel tests, electrolytes testing, lipid panel tests, BUN creatinine tests, and renal panel tests are the types that could be explored in Clinical Laboratory Tests in the years to come.
Further, the liver panel tests sector is sub-segmented into autoimmune disorders, hepatitis, bone disease, bile duct obstruction, liver cancer, liver cirrhosis, and others.Basic metabolic panel tests sector accounted for the significant market share of Clinical Laboratory Tests and is estimated to lead the overall market in the years to come; the reason being, rising occurrence of diseases like metabolic abnormalities and obesity and high demand for preventive medicine.
