Clinical Laboratory Tests Market Share, Size, Trends, Industry Analysis Report, By Type (Complete Blood Count, HGB/HCT, BUN Creatinine Tests, Electrolytes Testing, HbA1c Tests, Comprehensive Metabolic Panel, Liver Panel, Renal Panel, Lipid Panel); By End-Use; By Regions; Segment Forecast, 2021 - 2028

Report Summary

The global clinical laboratory tests market was valued at USD 184.66 billion in 2020 and is expected to grow at a CAGR of 7.3% during 2021 - 2028. The rising prevalence of chronic disorders and awareness among fitness-savvy people are the key prominent factors boosting the market growth.

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The demand for clinical laboratory tests is mostly driven by the growing prevalence of diabetes, tuberculosis, and other heart-related ailments. As per the statistics published by the International Diabetes Federation, in 2019, more than 463 million people were suffering from diabetes, and by 2045, it is projected to rise to 700 million, across the globe.

In recent years, demand for medical labs has risen slowly, simultaneously, the industry is undergoing challenges in the form of policy changes and the availability of skilled clinicians. U.S. government has changed the reimbursement policies of Medicare and implemented PAMA (the Protecting Access to Medicare Act, 2014), back in 2018. Henceforth, following this market-based rates would be considered for the reimbursement, which might result in a decline in prices reimbursed by the Medicare to the clinics.

Industry Dynamics

Growth Drivers
The demand in the clinical laboratory has been spurred by a rising geriatric population and changing lifestyle, leading to health complications. As per the data published by the World Population Prospects, in 2019, approximately 1 in 11 people all over the globe were aged over 65 years and above. It is also being estimated that, by 2050, around 1 in 6 people would age 65 years or more. Clinical tests are mostly inclined towards age-related problems.

Moreover, consumption of unhealthy foodstuffs, lack of exercise, and subsequent rise in obese population led to the prevalence of several chronic diseases. The rising awareness among individuals about regular heath profiling among physicians is also expected to spur the market demand for clinical laboratory tests.

Clinical Laboratory Tests Market Report Scope

The market is primarily segmented on the basis of type, end-use, and geographic region.

By Type	By End-Use	By Region
Complete Blood Count HGB/HCT Basic Metabolic Panel BUN Creatinine Tests Electrolytes Testing HbA1c Tests Comprehensive Metabolic Panel Liver Panel Renal Panel Lipid Panel	Central Laboratories Primary Clinics	North America (U.S., Canada) Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria) Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea) Latin America (Brazil, Mexico, Argentina) Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Type

The metabolic clinical laboratory tests segment held the largest share in the global market in 2020. This high share is attributed to a high prevalence of lifestyle-borne diseases such as diabetes and obesity. Body metabolites play an important role in clinical laboratory tests. Lipid panel tests are expected to witness the highest growth rate over the clinical laboratory test market study period. The high prevalence of cardiovascular diseases is largely responsible for this.

As per the estimates of the WHO, each year around 17 million people with heart-related problems, this is primarily due to unhealthy diet patterns, and high blood cholesterol levels. Within this segment, the hepatitis market segment is projected to be the fastest growth over the study period, owing to the rising consumption of tobacco and alcohol.

Insight by End-Use

最终用途的基础上,中央实验室举行了一次价格ficant market share, in 2020. The presence of top-notch labs, particularly in the developed nations such as Q2 Solutions, Covance Inc., CIRION BioPharma, Eurofins Scientific, and Phoenix Lab are favoring the growth of central laboratories.

The primary clinics segment of clinical laboratory test market is projected to witness the highest market growth rate over the assessment period. This is primarily due to the strong demand for rapid clinical laboratory tests. Moreover, growing awareness of lab tests among physicians and the introduction of portable rapid analyzers are also expected to drive the market segment’s growth prospects.

Geographic Overview

Geographically, North America clinical laboratory tests market accounted for the largest revenue share of the global market in 2020. The rising penetration of clinical laboratory technology, well-developed clinical infrastructure, and surge in test volumes boosting the region’s growth for clinical laboratory tests. Moreover, the rising old age population, high incidence of cancer, and other chronic diseases also favoring the growth.

Asia Pacific clinical laboratory tests market is expected to witness a lucrative market growth over the assessment period. This is due to improvement in healthcare infrastructure serving the huge population of China and India. Moreover, the presence of untapped opportunities in the form of unmet clinical needs, increasing spend on developing clinical infrastructure to spur research and innovation also boosting the region’s market growth for clinical laboratory tests.

Competitive Insight

Some of the major players operating the global market for clinical laboratory tests include Abbott Labs; Bioscientia Institut für Medizinische Diagnostik GmbH; ARUP Laboratories; Tulip Diagnostics (P) Ltd.; Charles River; Sonic Healthcare; OPKO Health, Inc.; NeoGenomics Laboratories; Merck KgaA; Laboratory Corporation of America Holdings; Quest Diagnostics; Fresenius Medical Care; Genoptix, Inc.; Healthscope Ltd., QIAGEN; Siemens Healthcare, and Biosino Biotechnology and Science Inc.