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Clinical Laboratory Services Market Size to Worth Around US$ 307.3 Billion by 2027 – Exclusive Report by IMARC Group

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Clinical Laboratory Services Market Size to Worth Around US$ 307.3 Billion by 2027 – Exclusive Report by IMARC Group

November 22
13:26 2022
Clinical Laboratory Services Market Size to Worth Around US$ 307.3 Billion by 2027 – Exclusive Report by IMARC Group
Clinical Laboratory Services Market Report
Global clinical laboratory services are an essential part of the healthcare industry as they are used for the evaluation, diagnosis, treatment, prevention and management of patients.

According to the latest report by IMARC Group, titled “Clinical Laboratory Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global clinical laboratory services market size reached US$ 217.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 307.3 Billion by 2027, exhibiting a growth rate (CAGR) of 6.1% during 2022-2027.

A clinical laboratory represents a healthcare facility that provides a wide range of services, including patient diagnosis, treatment, prevention, and management. It includes drug abuse and genetic testing, gene therapy, and preclinical or clinical and toxicology examination services. These amenities employ technologically advanced devices and testing kits. Clinical laboratory services reduce human error and provide correct and precise test results allowing healthcare professionals to make the right therapeutic and diagnostic decisions based on individual requirements, health conditions, and disorders. Consequently, clinical laboratory services are used by hospitals, clinics, and research institutes for drug discovery, clinical trials, and bioanalytical applications.

Clinical Laboratory Services Market: Current Trends & Future Predictions

The growing prevalence of various chronic and target diseases, including tuberculosis (TB), diphtheria, poliomyelitis, and measles, is supplementing the need for clinical laboratory services across the healthcare sector, which is primarily driving the market growth. Moreover, rising awareness regarding the benefits of early disease management and the increasing demand for early diagnostic tests are impelling the clinical laboratory services market growth.

Furthermore, the large-scale adoption of automated technologies to optimize drug development procedures at reduced costs is favoring the market growth. Moreover, the introduction of highly accurate and technologically advanced products, such as companion diagnostics, biochips, and microarrays, is positively stimulating market growth.

Besides this, the sudden outbreak of the COVID-19 pandemic has prompted pharmaceutical companies to collaborate with independent, hospital-based, and reference laboratory service providers to formulate novel drugs and perform clinical trials to determine drug efficacy, which is supporting the market growth.

Get the Sample Report: https://www.imarcgroup.com/clinical-laboratory-services-market/requestsample

Global Clinical Laboratory Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the clinical laboratory services market has been studied in the report with the detailed profiles of the key players operating in the market.

Clinical Laboratory Market Players:

  • Abbott Laboratories (NYSE: ABT)
  • Becton, Dickinson and Company (NYSE: BDX)
  • bioMérieux SA (OTCMKTS: BMXMF)
  • Charles River Laboratories (NYSE: CRL)
  • Hoffmann-La Roche Ltd
  • Illumina Inc. (NASDAQ: ILMN)
  • NeoGenomics Laboratories Inc.(NASDAQ: NEO)
  • Quest Diagnostics Incorporated
  • Siemens Healthcare GmbH (Siemens AG)
  • Thermo Fisher Scientific Inc.

 

Clinical Laboratory Services Market Segmentation:

The report has segmented the global clinical laboratory services market on the basis of test type, service provider, application and region.

Breakup by Test Type:

  • Human and Tumor Genetics
  • Clinical Chemistry
  • Medical Microbiology and Cytology
  • Others

 

Breakup by Service Provider:

  • Hospital-Based Laboratories
  • Stand-Alone Laboratories
  • Clinic-Based Laboratories

 

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

 

Geographical Analysis: 

  • 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

 

Explore Report Description with TOC & List of Figure

 

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

 

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

 

Browse More Reports by Us:

Global eClinical Solutions Market Report

 

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Phone: +1-631-791-1145
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Country: United States
Website: https://www.imarcgroup.com

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