Clinical Laboratory Services Market Size [2023-2030] | Industry Share, Revenue, Key Players, CAGR, Demand and Forecast

Pune, India, March 03, 2023 (GLOBE NEWSWIRE) -- The global Clinical Laboratory Services Market is categorized based on laboratory type, ownership, end user, and geography in the report. The market is divided into integrated clinical laboratories and specialty clinical laboratories under the laboratory type, with the latter holding a significant share of the global clinical laboratory services market. The report predicts that the specialty clinical laboratory will maintain its position in the future, owing to an increase in the number of patients and a growing focus on preventing viral diseases.

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Report Scope of Clinical Laboratory Services Market:

Key Takeaways from the Clinical Laboratory Services Market:

• The growth of the market is significantly driven by the increasing prevalence of chronic diseases such as obesity, diabetes, and cardiovascular diseases.
• Due to an aging population, North America dominated the global clinical laboratory services market in 2017.
• The growth of the market is impeded by the lack of healthcare infrastructure, including laboratory analysts, as well as stringent regulations imposed on the development.

Drivers & Restraints:

The market is expected to receive a boost from increased awareness of periodic health checkups.

the rising prevalence of epidemic diseases worldwide contributes to the surge in demand for clinical laboratory services, thereby driving the global market. The market is segmented into standalone clinical laboratories, hospital-owned clinical laboratories, and others based on ownership, and into research centers, clinics, hospitals, and others based on the end user.

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Segments:

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REGIONAL INSIGHTS

The growth in Asia Pacific and the Middle East and Africa is expected to receive a boost from increasing awareness campaigns regarding advanced clinical technologies.

Cost control trends among hospitals, technological advancements, and increasing demand for diagnostics have recently started to propel the global clinical laboratory services market in North America. According to Fortune Business Insights, the Middle East and Africa, as well as Asia Pacific, have significant growth potential during the forecast period in the global clinical laboratory services market due to an increase in the usage of advanced clinical technology services and rising awareness regarding disease prevention.

Competitive Landscape

Strategic investments are being made by key players such as SRL Diagnostics and Carlyle Group to boost sales.

In February 2019, SRL Diagnostics, a diagnostic company headquartered in Gurugram, India, announced the opening of its largest accredited lab network in Tirupati. The lab will offer services to approximately 3 crore pilgrims who visit Tirupati, as it is considered one of India's holiest pilgrimage sites. In October 2018, Carlyle Group, a multinational private equity firm based in the U.S., and Meinian Onehealth Healthcare Holdings Co., a renowned provider of health checkup and medical treatment based in China, made strategic investments in Adicon Holding Ltd., an independent clinical laboratory, and became a single shareholder.

List of Key Players Profiled in the Global Clinical Laboratory Services Market:

• Clinical Laboratory Services Inc.
• Covance Inc.
• Fresenius Medical Care AG & Co. KGaA
• NeoGenomics Laboratories Inc.
• Mayo Foundation for Medical Education and Research
• SYNLAB International GmbH
• Sonic Healthcare
• BioReference Laboratories
• UNILABS
• Laboratory Corporation of America Holdings
• Novartis AG
• Adicon Holding Limited

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FAQ:

What are the clinical laboratory services?

Clinical laboratories play a crucial role in the healthcare industry by providing services that aid in the diagnosis and treatment of diseases which include pathology services, urinalysis, immunology & allergy testing, cholesterol testing and others

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