|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The clinical laboratory services market was valued at USD 171.11 billion in 2020, and it is expected to reach USD 235.46 billion by 2026, registering a CAGR of 5.51% during the forecast period.
The recent outbreak of COVID-19 is expected to positively impact the clinical laboratory services industry, as the pandemic has boosted the clinical laboratory testing services. Based on the study published in National Center for Biotechnology Information in July 2020, it has been found that the current clinical diagnostics and technology, including molecular and serological testing approaches for severe acute respiratory syndrome‐coronavirus 2 (SARS‐CoV‐2) testing, has increased. There is also a rising number of developments of rapid and widespread testing through improvements in clinical diagnostics and testing technology that has helped in increasing the overall demand. In February 2021, Thermo Fisher Scientific launched the TaqPath COVID–19 HT Kit, which is for use on its automated amplitude platform, to increase its COVID-19 testing capacity by combining Thermo Fisher's extraction and real-time PCR instruments with liquid handling products from Tecan Group.
The market is primarily driven by the rising incidences of chronic diseases and the increasing demand for accurate and early disease diagnoses. The burden of infectious diseases and chronic disorders is constantly growing worldwide. Clinical diagnostic tests represent one of the most accurate methods to identify and characterize the various biomarkers of chronic diseases as well as for the detection of microorganisms. According to the World Health Organization (WHO) tuberculosis (TB) report in 2018, the disease was one of the top 10 causes of death worldwide. A total of 1.5 million people had died from TB in 2018 (including 251,000 people with HIV). In 2018, an estimated 10 million people fell ill with tuberculosis (TB) worldwide. 5.7 million men, 3.2 million women, and 1.1 million children were affected by this disease.
In addition, the growing burden of cancer is also expected to positively affect the demand for clinical diagnostics. According to Globocan 2020 figures, there were 19,292,789 new cancer cases diagnosed worldwide in 2020. The figures from Globocan 2020 also pointed out that the incidence of new cancer cases in very high HDI (Human Development Index) countries was 8,934,818, followed by 7,371,321 in high HDI countries. Medium and low HDI countries had 2,326,749 and 650,423 cases, respectively. Owing to the increased burden of the targeted disorder, market players are focusing on technological advancements of their products, in order to have a competitive edge over the other players. For instance, in October 2019, Helena Biosciences, Belgium, launched Glyco Liver Profile at the world’s first Liver Glycomics Congress to monitor and predict liver disease. Thus, these launches of technologically advanced products, coupled with increased awareness toward the early diagnosis of the disease, are driving the market growth. However, stringent regulatory issues in various countries and the lack of skilled laborers are expected to restrain the market growth.
Scope of the Report
In a clinical laboratory, clinical pathology tests are carried out on collected clinical specimens, for obtaining information about the patient’s health, in order to aid in the diagnosis, prevention, and treatment of diseases. The clinical laboratory services market is segmented by Test Type (Clinical Chemistry, Immunology, Cytology, Genetics, Microbiology, Hematology, and Other Test Types), Service Provider (Independent and Reference Laboratories, and Hospital-based Laboratories), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD billion) for the above segments.
|By Test Type|
|Other Test Types|
|By Service Provider|
|Independent and Reference Laboratories|
Key Market Trends
Independent Laboratories to Register Healthy Growth
The demand for laboratory testing is increasing due to the increasing incidences of chronic diseases, thereby increasing the demand for the accurate diagnosis of different diseases. In highly populated and developing countries like India and China, where a significant chunk of the population does not have access to proper medical diagnostic facilities, there is a huge opportunity for independent laboratories. According to National Accreditation Board for Testing and Calibration Laboratories (NABL), as of November 2020, there were around 6200 NABL accredited medical labs were present in India. Currently, the Independent laboratory segment is experiencing huge consolidation as players are focusing on strategic partnerships and collaborations, which is likely to drive the growth of the market. For instance, in October 2020, U-Diagnostics, a diagnostic laboratory in the Netherlands, partnered with CENTOGENE, a major provider of COVID-19 testing in Germany, to provide increased COVID testing services throughout the Netherlands. Also, in July 2020, Diaceutics PLC, a company focused on diagnostic network solutions for the development and commercialization of precision medicine diagnostics, patterned with Targos Molecular Pathology and HistoCyte Laboratories to enhance and expand diagnostic testing services in 2,500 labs worldwide. All these developments are fuelling the segment growth and driving the overall market.
The clinical diagnostics services in independent laboratories have also experienced a surge in demand for testing due to COVID-19. Various COVID-19 related developments that happened in the recent past are anticipated to have a positive impact on the growth of the market. For instance, in October 2020, U-Diagnostics partnered with CENTOGENE, a major provider of COVID-19 testing in Germany, to provide increased COVID-19 testing services throughout the Netherlands.
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North America is Expected to Hold the Largest Share of the Market
The major factor driving the growth of the North American clinical laboratory services market is the presence of key players and government organizations in the country, which enables awareness among the general population and allows them to access the services conveniently. For instance, the American Clinical Laboratory Association is a not-for-profit organization that offers members the benefits of representation, education, information, and research. Also, the increasing geriatric population, rising patient awareness about the value of laboratory tests, and rising prevalence of infectious and chronic disease patients are also some of the key factors driving the market growth. As per the Centers for Disease Control and Prevention (CDC), in 2018, 133 million Americans, 45% of the population, had at least one chronic disease. Chronic diseases are responsible for every 7 out of 10 deaths, killing more than 1.7 million Americans every year. In addition, the high adoption of technological advancements in the country backed up by proper quality measures is playing an important role in delivering quality, efficient, and effective service to the growing healthcare industry.
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The market for clinical laboratory services is highly competitive, and various global, as well as local companies, are present in the market. A major share of the market is grabbed by the global players, and local companies are also focusing on delivering innovative services to the people, which is allowing these companies to establish their considerable place in this market. With a rising need for technology, it is expected that few new entrants will be seen in the market in the future, and these players will gain a substantial share.
In September 2020, KeyOptions launched the Virolens COVID-19 screening test, based on a nano-cellular microscope after securing its commercial rights from Virolens to market the product in Australia and Southeast Asia.
In March 2020, Illumina acquired cancer-testing firm Grail to accelerates the commercialization and adoption of transformative multi-cancer screening tests with the potential to detect more cancers earlier and enable better outcomes. Galleri was expected to launch commercially in 2021 as a multi-cancer, laboratory-developed test (LDT) for early cancer detection from the blood.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technological Advancements in Clinical Testing
4.2.2 Rising Burden of Target Diseases and Rising Demand for Early Detection
4.3 Market Restraints
4.3.1 Regulatory Issues
4.3.2 Lack of Skilled Professionals
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Test Type
5.1.1 Clinical Chemistry
5.1.7 Other Test Types
5.2 By Service Provider
5.2.1 Independent and Reference Laboratories
5.2.2 Hospital-based Laboratories
5.3.1 North America
126.96.36.199 United States (By Test Type and Service Provider)
188.8.131.52 Canada (By Test Type and Service Provider)
184.108.40.206 Mexico (By Test Type and Service Provider)
220.127.116.11 Germany (By Test Type and Service Provider)
18.104.22.168 United Kingdom (By Test Type and Service Provider)
22.214.171.124 France (By Test Type and Service Provider)
126.96.36.199 Italy (By Test Type and Service Provider)
188.8.131.52 Spain (By Test Type and Service Provider)
184.108.40.206 Rest of Europe (By Test Type and Service Provider)
5.3.3 Asia Pacific
220.127.116.11 China (By Test Type and Service Provider)
18.104.22.168 Japan (By Test Type and Service Provider)
22.214.171.124 India (By Test Type and Service Provider)
126.96.36.199 Australia (By Test Type and Service Provider)
188.8.131.52 South Korea (By Test Type and Service Provider)
184.108.40.206 Rest of Asia-Pacific (By Test Type and Service Provider)
5.3.4 Middle-East and Africa
220.127.116.11 GCC (By Test Type and Service Provider)
18.104.22.168 South Africa (By Test Type and Service Provider)
22.214.171.124 Rest of Middle-East and Africa (By Test Type and Service Provider)
5.3.5 South America
126.96.36.199 Brazil (By Test Type and Service Provider)
188.8.131.52 Argentina (By Test Type and Service Provider)
184.108.40.206 Rest of South America (By Test Type and Service Provider)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Becton, Dickinson and Company
6.1.3 BioMerieux SA
6.1.4 Charles River Laboratories
6.1.5 Fresenius Medical Care
6.1.6 Hoffmann-La Roche AG
6.1.7 Hologic Inc.
6.1.8 Illumina Inc.
6.1.11 Novartis AG
6.1.12 OPKO Health
6.1.14 Quest Diagnostics Incorporated
6.1.15 Siemens AG
6.1.16 Thermo Fisher Scientific
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Clinical Laboratory Services Market market is studied from 2018 - 2026.
What is the growth rate of Global Clinical Laboratory Services Market?
The Global Clinical Laboratory Services Market is growing at a CAGR of 5.51% over the next 5 years.
What is Global Clinical Laboratory Services Market size in 2018?
The Global Clinical Laboratory Services Market is valued at 171 Billion USD in 2018.
What is Global Clinical Laboratory Services Market size in 2026?
The Global Clinical Laboratory Services Market is valued at 235 Billion USD in 2026.
Which region has highest growth rate in Global Clinical Laboratory Services Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Clinical Laboratory Services Market?
North America holds highest share in 2020.
Who are the key players in Global Clinical Laboratory Services Market?
OPKO Health Inc., Quest Diagnostics Incorporated, LabCorp, NeoGenomics, Abbott Laboratories are the major companies operating in Global Clinical Laboratory Services Market.