Dublin, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The "Clinical Laboratory Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Clinical Laboratory Services Market to Reach $376.6 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Clinical Laboratory Services estimated at US$250.1 Billion in the year 2022, is projected to reach a revised size of US$376.6 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2022-2030. Clinical Chemistry, one of the segments analyzed in the report, is projected to record a 5% CAGR and reach US$163.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Human & Tumor Genetics segment is readjusted to a revised 4.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $118.7 Billion, While China is Forecast to Grow at 7.4% CAGR
The Clinical Laboratory Services market in the U.S. is estimated at US$118.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$15.8 Billion by the year 2030 trailing a CAGR of 7.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 4.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21 Billion by the year 2030.
Select Competitors (Total 125 Featured) -
- ADICON Clinical Laboratories, Inc.
- ARUP Laboratories
- Bio-Reference Laboratories, Inc.
- DaVita, Inc.
- Enzo Clinical Labs
- Genova Diagnostics, Inc.
- Kingmed Diagnostics
- Laboratory Corporation of America Holdings
- Dynacare
- Mayo Clinic Laboratories
- NeoGenomics Laboratories
- Genoptix, Inc.
- Quest Diagnostics, Inc.
- Sonic Healthcare Limited
- Bioscientia Institut fur Medizinische Diagnostik GmbH
- American Esoteric Laboratories
- SYNLAB International GmbH
- The National Health Laboratory Service
- Thyrocare Technologies Limited
- Unilabs SA
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slow down and impact economic activity and growth.
| Report Attribute | Details |
| No. of Pages | 494 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $250.1 Billion |
| Forecasted Market Value (USD) by 2030 | $376.6 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Healthcare Needs of Aging Population to Boost Demand for Laboratory Services
- Increasing Incidence of Chronic Diseases Drives the World Clinical Laboratory Services Market
- Rise in Healthcare Expenditure to Drive Growth
- With COVID-19 Highlighting the Threat Posed by Infectious Diseases, Role of Clinical Labs in Testing Infectious Diseases Grows in Importance
- Increasing Prevalence of Respiratory Infections Drive Growth
- Lab Automation Speeds Up
- Rise of Laboratory 4.0 Transforms Clinical Laboratory Space
- Laboratory Information Systems Gain Traction amidst Growing Need to Enhance Workflow Efficiencies and Reduce Costs
- Artificial Intelligence: The Future of LIMS
- Digitalization, Automation and AI Trends Shape Growth
- Microbiology Laboratories Switch to Automation to Push Yields
- Artificial Intelligence Holds Positive Implications for Automation of Clinical Microbiology
- Clinical Microbiology Market Benefits from Digitalization and Robotization Trend
- Integration of Clinical Microbiology with Cloud Computing
- Advent of New & Advanced Devices Fuels Growth in Clinical Laboratory Services Market
- New Technologies and Tests Drive Demand for Specific Testing
- Increasing Role of Advanced Tests in Clinical Treatment Decision Making
- Innovations Hold Potential to Improve Clinical Chemistry Lab Performance
- Disruptive Innovations in Clinical Lab Space Present Growth Opportunities
- Increasing Opportunities in Personalized Medicine and Clinical Trial Services
- Autoimmune Disease Testing: Labs Seek Cost-Effective & High Productivity Options
- Genetic Disease Testing Offers Bright Prospects for Lab Services
- Reduced Hospitalization Enhances Significance of Medical Labs
- Standardization Gains Precedence in the Hunt for Automation
- Assessing the Impact of Point-of-Care Testing on Clinical Labs
- Hospital Laboratories to Transform into Profit Centers
- Hospital Outreach Laboratories Deliver Better Value to Larger Organizations
- Physician Office Laboratories: Focus on Reducing Turnaround Times for Testing
- Emerging Clinical Laboratory Designs Focus on Improving Space Utilization and Promote Healthy Work Environments
- Laboratory Outsourcing Trend Gains Strength
- Challenges Facing Lab Testing Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/73rven
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