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Global Clinical Laboratory Testing Market Report: 2011 Edition
Koncept Analytics, April 2011, Pages: 45
Clinical testing, which is a significant component of the global healthcare market, has been gaining further importance in the present global scenario. This has been mainly due to factors like consumer driven healthcare, aging demographics, expanded access to healthcare, and scientific advancements.
The major markets of clinical laboratory testing are the US, European nations and Australia. After facing a decline in 2009 due to extreme recessionary conditions, the US clinical laboratory testing market is expected to record a substantial growth in the coming years. Factors contributing to growth are growing aging population and increase in the number of accredited labs in the United States. The European clinical laboratory testing market is also witnessing growth due to increasing demand for laboratory medicine analysis in the region. The Australian market reported a decline in clinical pathology services in 2010 compared to 2009 due to reduced reimbursements by the Australian Federal government. However, increase in the establishment of new pathology collection centers and growing demand for diagnostic testing services from the ongoing aging population in the region, will drive the market.
An emerging and rapidly evolving system of healthcare, worldwide, has brought the issue of testing at the site of patient, to the forefront. The global Point-of-care testing market is expanding at a rapid rate, generating a whole set of new issues and challenges for the conventional laboratory testing systems.
Public and policy makers have come to realize that preventive measures for healthcare are as important as other healthcare measures thus leading to growth in demand for laboratory testing. Companion diagnostics has also taken roots constituting a trend in the present global perspective. In major parts of the world aging population is accelerating and people have taken to spending more on physicians and clinical services. These factors have put the clinical testing market on a growth chart, for many years to come. However, crunch in financial allocations for clinical diagnostic services is generally observed in many economies of the world, especially Europe where a funding pressure in clinical laboratory testing market is reported.
The leading players in the global clinical laboratory testing market are LabCorp, Quest Diagnostics, Sonic Healthcare and Healthscope Ltd. The market for clinical laboratory testing is intensely competitive with firms competing on the basis of accuracy and timeliness of results, among several other factors.
The report analyzes the global clinical laboratory testing market, with focus on the US, Europe and Australia. The growth drivers, trends and challenges are also discussed. The major regional players have been profiled, highlighting their strategies for this growing market.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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