9th January 2020 – Global Clinical
Laboratory Tests Market is expected to reach USD 198.5 billion by 2024.
Clinical Laboratory Tests are the medical devices that are used for analysis of
tissues, materials, or fluids obtained from patients to help in treatment and
diagnosis of disease. The Clinical Laboratory Tests Market is estimated to grow
at a significant CAGR over the forecast period as the scope and its
applications are rising enormously across the globe.
The factors playing a major role in the
growth of Clinical Laboratory Tests are application and expansion of several
data management and informatics solutions, increasing use of enhanced products
like chemistry analyzers, and availability of favorable reimbursement policies.
However, strict government policies and inadequate reimbursements are the
factors are expected to restrain overall market growth in the years to come.
Clinical Laboratory Tests Market is segmented based on type, end user, and
region.
Liver panel test, complete blood count,
comprehensive metabolic panel tests, HGB/HCT tests, HbA1C tests, basic
metabolic panel tests, electrolytes testing, lipid panel tests, BUN creatinine
tests, and renal panel tests are the types that could be explored in Clinical
Laboratory Tests in the years to come. Further, the liver panel tests sector is
sub-segmented into autoimmune disorders, hepatitis, bone disease, bile duct
obstruction, liver cancer, liver cirrhosis, and others.
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Basic metabolic panel tests sector
accounted for the significant market share of Clinical Laboratory Tests and is
estimated to lead the overall market in the years to come; the reason being,
rising occurrence of diseases like metabolic abnormalities and obesity and high
demand for preventive medicine. The test is performed to know chemical
imbalance in the body. Also, lipid panel tests sector is estimated to grow at
the fastest pace in the years to come.
The market may be categorized based on
end users like primary clinics, central laboratories, and others that could be
explored in the forecast period. Central laboratories sector accounted for the
significant market share of Clinical Laboratory Tests in 2015 and is estimated
to lead the overall market in the years to come. Also, primary clinics sector
is estimated to grow at the highest CAGR in the years to come.
Globally, North America accounted for
the significant market share of Clinical Laboratory Tests in 2015 and is
estimated to lead the overall market in the years to come. The reason behind
the overall market growth could be developed healthcare infrastructure, growing
occurrence of target disease, presence of technologically enhanced products,
and growing awareness among patients regarding clinical laboratory tests.
Instead, Europe and the Asia Pacific are
also estimated to have a positive influence on the future growth. Europe is the
second largest region with significant market share. However, Asia Pacific is
estimated to grow at the highest CAGR in the forecast period. The aspects that
may be ascribed to the growth comprise developing healthcare infrastructure with
an enhanced diagnostic technology in developing countries like China and India.
The key players of Clinical Laboratory
Tests Market are Abbott, Quest Diagnostics, OPKO Health, Inc., Merck KgaA,
Charles River Laboratories, Laboratory Corporation of America Holdings, Labco,
Genoptix, and Healthscope. These market players are concentrating on inorganic
growth to sustain themselves amidst fierce competition. At the same time; the
possibility of investing in organic growth cannot be ruled out. Cost sutting is
also on the agenda.
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