Dublin, April 26, 2019 (GLOBE NEWSWIRE) -- The "Clinical Laboratory Services Market Size, Share & Trends Analysis Report By Service Provider (Hospital-based, Stand-alone), By Test Type (Medical Microbiology & Cytology, Clinical Chemistry), And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global clinical laboratory services market size is expected to reach USD 326.97 billion by 2025 and is projected to grow at a CAGR of 6.4%. Improvement in database management tools, introduction of integrated workflow management systems, and wide acceptance of Point-of-Care (PoC) testing solutions are some of the key factors driving the market.
Unmet medical needs pertaining to disease management along with subsequent rise in patient awareness levels is also expected to spur the market growth. Furthermore, presence of effective regulatory structure to oversight the laboratory operations will have a positive impact on the market expansion. Clinical laboratories are enforced to meet the standards and guidelines established by CLIA. This results in safe and effective implementation of clinical workflows to improve patient outcome, thereby driving the demand for clinical laboratory services. Market participants have undertaken several strategies to strengthen their industry position.
For instance, in February 2019 Quest Diagnostics acquired clinical laboratory services business segment of the Boyce & Bynum Pathology Laboratories (BBPL). Through this acquisition, BBPL is expected to be an exclusive provider of pathology products to Quest Diagnostics. In addition, in February 2019, RenalytixAI partnered with AKESOgen, which offers clinical laboratory services. Both of the companies will provide their products under one manufacturer as RENX AI Labs, LLC. With this partnership RenalytixAI aims to expand its contract research and clinical diagnostic business segment.
Further key findings from the study suggest:
- Clinical chemistry services accounted for the largest market share in 2018 owing to wide usage of chemical tests during the screening of disease
- Medical microbiology & cytology vertical is estimated to witness the highest CAGR due to growing incidence of fungal, viral, and other infections
- Stand-alone labs segment will expand at the highest CAGR owing to the ability of these labs to manage a large volume of diagnostic tests with the integration of digital workflow
- North America is the leading regional market due to the high penetration of novel diagnostic techniques
- Several service providers from western countries are investing to expand their businesses in Asian countries owing to numerous untapped opportunities
- APAC is projected to be the fastest-growing regional market owing to numerous untapped growth opportunities in medical research and presence of low-cost production facilities in the region
- Some of the key market participants are Abbott Laboratories, Quest Diagnostics, Siemens AG, Laboratory Corporation of America Holdings, Charles River Laboratories
- Most of these companies focus on establishing mutually beneficial alliances with others companies as well as healthcare organizations to scale up their product portfolio
Key Topics Covered
Chapter 1 Research Methodology
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.4 Information Analysis
1.5 Market Formulation & Data Visualization
1.6 Data Validation & Publishing
Chapter 2 Executive Summary
2.1 Clinical Laboratory Services Market Outlook, 2014 - 2025
2.2 Clinical Laboratory Services Market: Segment Outlook, 2014 - 2025
2.3 Clinical Laboratory Services Market: Competitive Insights
Chapter 3 Clinical Laboratory Services Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping, 2018
3.3 Cost Structure Analysis
3.4 User Perspective Analysis
3.5 List of Key Service providers By Region, By Service Providers, By Country
3.6 Regulatory Framework
3.7 Clinical Laboratory Services Market - Market Dynamics
3.8 Clinical Laboratory Services Market Analysis Tools
Chapter 4 Clinical Laboratory Services Market: Competitive Analysis
4.1 Recent Developments & Impact Analysis, by Key Market Participants
4.2 Company/Competition Categorization
4.3 Vendor Landscape
4.4 Public Companies
4.5 Private Companies
Chapter 5 Clinical Laboratory Services Market: Test Type Estimates & Trend Analysis
5.1. Definitions & Scope
5.2. Test Type Market Share Analysis, 2018 & 2025
5.3 Clinical Laboratory Services Market: Test Type Movement Analysis, 2018 & 2025
5.4. Global Clinical Laboratory Services Market, by Test Type, 2014 to 2025
5.5 Market Size & Forecasts and Trend Analyses, 2014 to 2025 for the following,
5.6 Clinical Laboratory Services Test Type Market, by Service Provider, 2014 to 2025
Chapter 6 Clinical Laboratory Services Market: Service Provider Estimates & Trend Analysis
6.1. Definitions & Scope
6.2. Service Provider Market Share Analysis, 2018 & 2025
6.3 Clinical Laboratory Services Market: Service Provider Movement Analysis, 2018 & 2025
6.4. Global Clinical Laboratory Services Market, by Service Provider, 2014 to 2025
6.5 Market Size & Forecasts and Trend Analyses, 2014 to 2025 for the following,
Chapter 7 Clinical Laboratory Services Market: Regional Estimates & Trend Analysis, by Test Type & Service Provider
7.1 Clinical Laboratory Services Market Share by Region, 2018 & 2025
7.2 Regional Market Share and Leading Players, 2018
7.3 North America
7.4 Europe
7.5 Asia Pacific
7.6 Latin America
7.7 Middle East & Africa
Chapter 8 Competitive Landscape
8.1 Strategy framework
8.2 Market Participation Categorization
8.3 Company Profiles
8.4 List of Companies
- Abbott Laboratories (Alere Inc.)
- ARUP Laboratories (Associated Regional & University Pathologists Inc.)
- OPKO Health Inc.
- Sonic Healthcare
- Charles River Laboratories International, Inc.
- Neogenomics Laboratories Inc.
- Fresenius Medical Care
- QIAGEN
- Quest Diagnostics Incorporated
- Siemens AG
- Novartis AG
- Cinven
- Laboratory Corporation of America Holdings
- Randox Laboratories Ltd.
- DaVita Inc.
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