Global Clinical Laboratory Services Market will reach US$241.37 Billion by 2019: Transparency Market Research

Transparency Market Research has announced the addition of the "Clinical Laboratory Services Market (Clinical Chemistry, Medical Microbiology & Cytology, Human & Tumor Genetics and Other Esoteric Tests) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering.

Albany, New York, UNITED STATES

Albany, New York, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research, U.S.-based intelligence firm has published a new report titled, "Clinical Laboratory Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". The global market for clinical laboratory services market was valued at US$162.71 billion market in 2012 and is expected to reach US$241.37 billion market in 2019, growing at a CAGR of 5.8% from 2013 to 2019. The report on global clinical laboratory services market presents valuable information about the potential growth drivers, the restraints, opportunities, and trends of this market. The report also estimates the size of this market and its growth rate for the coming years.

Clinical laboratory market refers to collective number of services provided via clinical diagnostics. The broad spectrum of global clinical laboratory services market has been divided on the basis of medical microbiology & cytology, clinical chemistry, human and tumor genetics and other esoteric tests. The global clinical laboratory market offers a range of test to identify prevalence of diseases, its progression, or presence of abnormalities within the body. With a wide spectrum of tests such as routine blood and urine tests to complex genetic analysis inclusive of fluorescence in situ hybridization (FISH) and molecular expression testing, the clinical laboratory market has been growing at a tremendous rate in the recent years.

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The primary growth drivers for the Global Clinical Laboratory Services Market are growing number of cancer, diabetes, tuberculosis, and other such dangerous incidences and infections. As the patients have only grown in the recent years, the market for clinical services has also grown and is expected expand further. Analysts predict, the geriatric population in U.S. is expected to grow by 20% in 2030. With such a huge leap, U.S. alone is expected to contribute greatly to the global clinical laboratory services market.

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To improve revenue generation, diagnostics manufacturers such as Abbott Diagnostics, Genomic Health, Qiagen, and Roche Holdings are looking at making products and systems that will give accurate analysis and allow processing of thousands of samples at one go.

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The clinical laboratory services market is segmented on the basis of type, service provider, and geography. The type segment of global clinical laboratory services market is inclusive of clinical chemistry, medical microbiology and cytology, human and tumor genetics, and esoteric tests. On the basis of service provider, the market is divided into clinic-based, hospital-based, and stand-alone. Geographically, the global clinical laboratory services market is divided into North America, Europe, Asia Pacific, and Rest of the World.

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The report on global clinical laboratory services market also profiles some of the key players such as Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics, Inc., Genoptix Medical Laboratory, Sonic Healthcare, Labco S.A., Healthscope Ltd., Bioscientia Healthcare, and Bio-Reference Laboratories.

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