United Kingdom Diagnostic Labs Market, By Provider Type (Hospital, Stand-Alone Center, Diagnostic Chains), By Test Type (Radiology v/s Pathology), By End User (Corporate Clients, Walk-ins, Referrals), By Region, Competition Forecast & Opportunities, 2017-2027

Report
74 Pages
July 2022
Region: United Kingdom
TechSci Research
ID: 3379032

The market growth can be attributed to the rising incidences of infectious and chronic diseases and growing health awareness among the population

The United Kingdom diagnostic labs market is expected to grow at a formidable CAGR during the forecast period. The market growth can be attributed to the rising incidences of infectious and chronic diseases and growing health awareness among the population. Besides, rising government initiatives to promote better healthcare services and expanding healthcare infrastructure are anticipated to fuel the growth of United Kingdom diagnostic labs market. Growing inclination of population towards health checkups and increasing presence of diagnostic labs are also positively influencing the market growth. Additionally, increasing funding by government and introduction of accurate and technologically advanced products, such as companion diagnostics, biochips, and microarrays to enhance productivity and reduce costs are some of the factors driving the growth of the United Kingdom diagnostic labs market. Moreover, increasing use of at-home testing kits to diagnose chronic diseases and monitor health and rising demand for lab automation and development of specialized tests are accelerating the market growth. The healthcare services in the country function majorly through National Healthcare Service (NHS) that finds financial stability for the patients to manage medical expenses through the tax system. Thus, reimbursement programs are enabling patients to opt for regular diagnostic tests, which is anticipated to create opportunities for the United Kingdom diagnostic labs market growth.

The United Kingdom diagnostic labs market is segmented by provider type, test type, end user, competitional landscape, and regional distribution. Based on provider type, the market is fragmented into hospital, stand-alone center, and diagnostic chains. The hospital segment is expected to hold the largest share in the United Kingdom diagnostic labs market owing to the increasing patient count and greater availability of finances for the development of advanced diagnostic infrastructure. Based on test type, the market is differentiated between radiology and pathology. The pathology test type is expected to hold the largest share in the United Kingdom diagnostic labs market owing to rising number of concerns regarding evolving pathogens and growing severity of infectious diseases.

Major players in the United Kingdom diagnostic labs market are Acculabs Diagnostics UK Ltd., Medical Diagnosis Ltd., HCA UK Laboratories (HCA International Limited), Cambridge Clinical Laboratories, London Medical Laboratory Limited, Sonic Healthcare, MD Laboratory, among others.

Years considered for this report:

Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F

Objective of the Study:

To analyze the historical growth in the market size of the United Kingdom diagnostic labs market from 2017 to 2021.
To estimate and forecast the market size of United Kingdom diagnostic labs market from 2022E to 2027F.
To classify and forecast the United Kingdom diagnostic labs market based on provider type, test type, end user, region, and company.
To identify the dominant region or segment in the United Kingdom diagnostic labs market.
To identify drivers and challenges for the United Kingdom diagnostic labs market.
To examine competitive developments such as expansions, new service launches, mergers & acquisitions, etc., in the United Kingdom diagnostic labs market.
To identify and analyze the profiles of leading players operating in the United Kingdom diagnostic labs market.
To identify key sustainable strategies adopted by market players in United Kingdom diagnostic labs market

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of service providers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers who could not be identified due to the limitations of secondary research. The publisher analyzed the service providers, and presence of all major players across the country.

The publisher calculated the market size of the United Kingdom diagnostic labs market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the publisher.

Key Target Audience:

Diagnostic lab service providers
Market research and consulting firms
Government bodies such as regulating authorities and policy makers
Organizations, forums, and alliances related to diagnostic labs

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, and end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, United Kingdom diagnostic labs market has been segmented into following categories, in addition to the industry trends which have also been detailed below: