Clinical Laboratory Services Market by 2022 with USD 146.41 Billion
The latest Report “Clinical Laboratory Services Market by Specialty (Biochemistry, Endocrinology, Microbiology, Hematology, Cytology, Histopathology, Genetic Testing), Providers (Independent Laboratory, Reference Laboratory, Hospital Laboratory) — Global Forecasts to 2022”.
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[167 Pages Report] The global market for clinical laboratory services is projected to reach $146.41 billion by 2022 from $113.44 billion in 2017, at a CAGR of 5.2% during 2017–2022.
In 2016, Mayo Medical Laboratories (US), Laboratory Corporation of America Holdings (US), Quest Diagnostics Incorporated (US), Spectra Laboratories Inc. (US), and DaVita Healthcare Partners (US), held the leading position in the global clinical laboratory services market. In the past three years, these companies adopted service launches, upgrades; agreements, collaborations & partnerships; mergers & acquisitions; and expansions as their key business strategies to ensure market dominance. Eurofins Scientific (Luxembourg), Unilabs (Switzerland), SYNLAB International (Germany), Bio-Reference Laboratories (US), Sonic Healthcare (UK), and Cerba HealthCare (France) were some of the other major players in this market.
The rising demand for early and accurate disease diagnosis, growing public-private investments as well as research funding & grants to develop innovative laboratory testing procedures, and advancements in clinical diagnostic techniques are the key factors driving the growth of the market.
In 2017, the clinical chemistry segment is expected to account for the largest share of the market. The large market share of this segment is attributed to technological innovations in clinical chemistry, improving healthcare system, and rising per capita disposable income in developing countries.
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