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Clinical Laboratory Services Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-11 

Clinical Laboratory Services Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

In the last few years, clinical laboratory services market has emerged as one of the most remunerative verticals of the healthcare sphere given how effective these services prove to be for delivering reliable healthcare to patients. Medical professionals have been giving prominent preference for clinical laboratory services in order to take a quick therapeutic decision. Given that these laboratories help to maximize the effectiveness of the healthcare system with the development of accurate test results, clinical laboratory services industry trends are expected gain quite some traction in the forecast years.

The rising risks of security breaches and clinical frauds have been encouraging industry giants to conduct extensive research and development activities. In accordance, most of the companies have been working toward developing a wide range clinical suites for combating clinical susceptibility with regards to billing practices.

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With the upsurge in the acceptance rate of clinical laboratory services across the globe, renowned giants are looking forward to extending their reach in myriad geographies that would help them achieve competitive benefits by commercializing their platforms across leading regional markets.

In addition to capacity expansions, healthcare service providers are extensively looking forward to investigating new clinical methodologies, for which they have been collaborating with drug developing companies. The inclusion of a huge number of healthcare facilities and more effective clinical testing techniques in the upcoming clinical methodologies are slated to propel clinical laboratory services industry size.

With the help of clinical testing facilities, biotech and pharmaceutical companies could effectively develop antimicrobial and antifungal drugs. The extensive use of clinical laboratories for the development of anti-infectives is thus slated to propel clinical laboratory services industry trends over the years ahead.

The U.S. is touted to emerge as a pivotal growth ground for clinical laboratory services market in the ensuing years. Aided by the contribution of the U.S. and the presence of prominent players that have been working tirelessly to provide advanced test solutions North America clinical laboratory services industry size was worth USD 86 billion in 2018.

In the years to come, U.S. clinical laboratory services industry size is likely to be pegged at a huge valuation, driven by the rising geriatric populace subject to chronic diseases and the growing prevalence of diabetes, cardiovascular disease, and other blood disorders. Not to mention, the region also boasts of a highly sophisticated healthcare infrastructure that would further fuel the industry outlook.

In order to speed up the provision of diagnostic services, biotechnology companies have been collaborating with clinical laboratories on a large scale. For instance, recently, Qiagen N.V. unveiled its partnership with one of the largest Japanese clinical testing laboratory companies, SRL, Inc., that aims to develop new companion diagnostics with drug approvals from Japan’s Pharmaceutical and Medical Devices Agency.

The main purpose of this strategic collaboration is to use clinical laboratory services for the development of next-generation sequencing and time polymerase chain reaction solutions which can be used for personalized healthcare. The vast involvement of clinical laboratory companies and pharmaceutical firms in drug development will thus prove to rapidly propel clinical laboratory services industry share.

The emergence of a new range of diseases and the increasing number of cancer patients across the globe will have a positive influence on clinical laboratory services market outlook. Prominent companies have been working toward enhancing the diagnostic capabilities of healthcare service providers that could also serve to augment the future product demand. Aided by the efforts of industry players and the robust demand for effective medical care, clinical laboratory services market will generate a revenue of more than USD 350 billion by the end of 2025. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/clinical-laboratory-services-market

Partial Chapter of the Table of Content 

Chapter 4. Clinical Laboratory Services Market, By Test Type

4.1. Key segment trends

4.2. Human & tumor genetics

4.2.1. Market size, by region, 2014 – 2025 (USD Billion)

4.3. Clinical chemistry

4.3.1. Market size, by region, 2014-2025 (USD Billion)

4.3.2. Routine chemistry testing

4.3.2.1. Market size, by region, 2014-2025 (USD Billion)

4.3.3. Specialized chemistry testing

4.3.3.1. Market size, by region, 2014-2025 (USD Billion)

4.3.4. Therapeutic drug monitoring (TDM) testing

4.3.4.1. Market size, by region, 2014-2025 (USD Billion)

4.3.5. Endocrinology chemistry testing

4.3.5.1. Market size, by region, 2014-2025 (USD Billion)

4.3.6. Other Clinical Chemistry Testing

4.3.6.1. Market size, by region, 2014-2025 (USD Billion)

4.4. Medical microbiology & cytology

4.4.1. Market estimates and forecast, by region, 2014 – 2025

4.5. Other esoteric tests

4.5.1. Market estimates and forecast, by region, 2014 – 2025

Chapter 5. Clinical Laboratory Services Market, By Service Provider

5.1. Key segment trends

5.2. Hospital-based laboratories

5.2.1. Market size, by region, 2014-2025 (USD Billion)

5.3. Stand-alone laboratories

5.3.1. Market size, by region, 2014-2025 (USD Billion)

5.4. Clinic-based laboratories

5.4.1. Market size, by region, 2014-2025 (USD Billion)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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