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Clinical Laboratory Services - Global Market Trajectory & Analytics

  • ID: 2228044
  • Report
  • July 2020
  • Region: Global
  • 218 Pages
  • Global Industry Analysts, Inc
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Global Clinical Laboratory Services Market to Reach US$135.5 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Clinical Laboratory Services estimated at US$96.8 Billion in the year 2020, is projected to reach a revised size of US$135.5 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027.Hospital-based Laboratories, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach US$78.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Independent Laboratories segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 38.3% share of the global Clinical Laboratory Services market.

The U. S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 4.7% CAGR for the Period of 2020-2027

The Clinical Laboratory Services market in the U. S. is estimated at US$28.5 Billion in the year 2020. The country currently accounts for a 29.47% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$24.1 Billion in the year 2027 trailing a CAGR of 4.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR while Rest of European market (as defined in the study) will reach US$24.1 Billion by the year 2027.

Physician Office-based Laboratories Segment Corners a 2.8% Share in 2020

In the global Physician Office-based Laboratories segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.2 Billion in the year 2020 will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.2 Billion by the year 2027.The publisher brings years of research experience to this 19th edition of our report. The 218-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others
  • ADICON Clinical Laboratories, Inc.
  • American Esoteric Laboratories
  • ARUP Laboratories
  • Bio-Reference Laboratories, Inc.
  • Bioscientia Institut für Medizinische Diagnostik GmbH
  • DaVita, Inc.
  • Dynacare
  • Enzo Clinical Labs
  • Genoptix, Inc.
  • Genova Diagnostics, Inc.
  • Laboratory Corporation of America Holdings
  • NeoGenomics Laboratories
  • Quest Diagnostics, Inc.
  • Sonic Healthcare Limited
  • Spectra Laboratories, Inc.
  • SYNLAB International GmbH
  • The National Health Laboratory Service
  • Thyrocare Technologies Limited
  • Unilabs SA

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Clinical Laboratory Services - An Overview

Growth of Specialty Labs

Recent Market Activity

Outlook

Developed Nations: Cost Pressures Necessitate New Strategies

Despite Challenges, Emerging Markets Provide Growth Opportunities

Routine Testing Takes the Lead; Esoteric Testing Services Drive Growth

Key Market Drivers

Growth Contributing Factors in a Gist

Rising Healthcare Needs of Aging Global Population

Increase in Healthcare Spending in Emerging Markets

Increasing Awareness Levels

Need to Cut Healthcare Costs

Rising Incidence of Diseases

Increasing Role of Clinical Labs in Testing Infectious Diseases

Global Competitor Market Shares

Clinical Laboratory Services Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

ADICON Clinical Laboratories, Inc. (China)

ARUP Laboratories (USA)

Bio-Reference Laboratories, Inc. (USA)

DaVita, Inc. (USA)

Enzo Clinical Labs (USA)

Genova Diagnostics, Inc. (USA)

Kingmed Diagnostics (China)

Laboratory Corporation of America Holdings (USA)

Dynacare (Canada)

Mayo Clinic Laboratories (USA)

NeoGenomics Laboratories (USA)

Genoptix, Inc. (USA)

Quest Diagnostics, Inc. (USA)

Sonic Healthcare Limited (Australia)

Bioscientia Institut für Medizinische Diagnostik GmbH (Germany)

American Esoteric Laboratories (USA)

Spectra Laboratories, Inc. (USA)

SYNLAB International GmbH (Germany)

The National Health Laboratory Service (South Africa)

Thyrocare Technologies Limited (India)

Unilabs SA (Switzerland)

3. MARKET TRENDS & DRIVERS

Need for Clinical Laboratories to Reinvent Business Models

Laboratory Informatics Offers Opportunities to Streamline Operations

Transforming Hospital Laboratory into a Profit Center

Laboratory Specific IT Platforms Provide a Business Case for Outreach Programs

Hospital Outreach Laboratories Deliver Better Value to Larger Organizations

Managing and Measuring Value

Manufacturers Leveraging Expertise to Address Requirements of Laboratories

Factors Impacting Laboratories

Moving Towards Value Driven Healthcare

Maximizing ROI in a Low Cost Environment

Making Most of Global Best Practices

Advent of Novel Devices Fuel growth for Clinical Laboratory Services Market

Biobanks Gain Prominence

Home Based Systems Go Digital

Drones Emerging as Cost Effective and Efficient Mode for Transporting Samples

Innovative Strategies of Clinical Laboratories at Health Systems

Creation of Standardized Medical Laboratory Services

Laboratory Testing Industry Faces Unique Investor Led Disruption

Divergent Paths for Independent Labs and Health System Labs

Factors Affecting Divergence

Supporting ACO Requirements

Transformations in Healthcare

Integrated Care Support

Population Health Initiatives

Home-Field Benefits

Evolving Clinical Laboratory Sector to Drive Diverse Lab Test Segment Market Share

Key Market Differentiators

Real-Time Lab Data Access

IVD Market Growth: An Indication of Growth in Clinical Labs Market

New Technologies and Tests Drive Demand for Specific Testing

Increasing Role of Advanced Tests in Clinical Treatment Decision Making

Increasing Opportunities in Personalized Medicine and Clinical Trial Services

Cancer Testing Market: Opportunity for Clinical Labs

Shortened Hospitalization Enhances Significance of Medical Labs

Lab Automation Speeds Up

Standardization Gains Precedence in the Hunt for Automation

Heightened Use of IT Systems in Clinical Laboratories

Assessing the Impact of Point-of-Care Testing on Clinical Labs

Autoimmune Disease Testing: Labs Seek Cost-Effective & High Productivity Options

POLs: Reducing Turnaround Times for Testing

POL Market Succumbs to Cost Pressures

Laboratory Outsourcing Trend Gains Strength

Value-Based Outsourcing of Services to Take Center Stage

Challenges Facing Lab Testing Market

Dependence on Third Parties

Lack of Skilled Workers

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Clinical Laboratory Services Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
TABLE 2: Clinical Laboratory Services Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019
TABLE 3: Clinical Laboratory Services Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
TABLE 4: Hospital-based Laboratories (Location) World Market by Region/Country in US$ Million: 2020 to 2027
TABLE 5: Hospital-based Laboratories (Location) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019
TABLE 6: Hospital-based Laboratories (Location) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
TABLE 7: Independent Laboratories (Location) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027
TABLE 8: Independent Laboratories (Location) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019
TABLE 9: Independent Laboratories (Location) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
TABLE 10: Physician Office-based Laboratories (Location) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027
TABLE 11: Physician Office-based Laboratories (Location) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019
TABLE 12: Physician Office-based Laboratories (Location) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Clinical Laboratory Services Market Share (in %) by Company: 2020 & 2025

Market Analytics
TABLE 13: United States Clinical Laboratory Services Market Estimates and Projections in US$ Million by Location: 2020 to 2027
TABLE 14: Clinical Laboratory Services Market in the United States by Location: A Historic Review in US$ Million for 2012-2019
TABLE 15: United States Clinical Laboratory Services Market Share Breakdown by Location: 2012 VS 2020 VS 2027

CANADA

TABLE 16: Canadian Clinical Laboratory Services Market Estimates and Forecasts in US$ Million by Location: 2020 to 2027
TABLE 17: Canadian Clinical Laboratory Services Historic Market Review by Location in US$ Million: 2012-2019
TABLE 18: Clinical Laboratory Services Market in Canada: Percentage Share Breakdown of Sales by Location for 2012, 2020, and 2027

JAPAN

TABLE 19: Japanese Market for Clinical Laboratory Services: Annual Sales Estimates and Projections in US$ Million by Location for the Period 2020-2027
TABLE 20: Clinical Laboratory Services Market in Japan: Historic Sales Analysis in US$ Million by Location for the Period 2012-2019
TABLE 21: Japanese Clinical Laboratory Services Market Share Analysis by Location: 2012 VS 2020 VS 2027

CHINA

TABLE 22: Chinese Clinical Laboratory Services Market Growth Prospects in US$ Million by Location for the Period 2020-2027
TABLE 23: Clinical Laboratory Services Historic Market Analysis in China in US$ Million by Location: 2012-2019
TABLE 24: Chinese Clinical Laboratory Services Market by Location: Percentage Breakdown of Sales for 2012, 2020, and 2027

EUROPE

Market Facts & Figures

European Clinical Laboratory Services Market: Competitor Market Share Scenario (in %) for 2020 & 2025

Market Analytics
TABLE 25: European Clinical Laboratory Services Market Demand Scenario in US$ Million by Region/Country: 2020-2027
TABLE 26: Clinical Laboratory Services Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2012-2019
TABLE 27: European Clinical Laboratory Services Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
TABLE 28: European Clinical Laboratory Services Market Estimates and Forecasts in US$ Million by Location: 2020-2027
TABLE 29: Clinical Laboratory Services Market in Europe in US$ Million by Location: A Historic Review for the Period 2012-2019
TABLE 30: European Clinical Laboratory Services Market Share Breakdown by Location: 2012 VS 2020 VS 2027

FRANCE

TABLE 31: Clinical Laboratory Services Market in France by Location: Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 32: French Clinical Laboratory Services Historic Market Scenario in US$ Million by Location: 2012-2019
TABLE 33: French Clinical Laboratory Services Market Share Analysis by Location: 2012 VS 2020 VS 2027

GERMANY

TABLE 34: Clinical Laboratory Services Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Location for the Period 2020-2027
TABLE 35: German Clinical Laboratory Services Historic Market Analysis in US$ Million by Location: 2012-2019
TABLE 36: German Clinical Laboratory Services Market Share Breakdown by Location: 2012 VS 2020 VS 2027

ITALY

TABLE 37: Italian Clinical Laboratory Services Market Growth Prospects in US$ Million by Location for the Period 2020-2027
TABLE 38: Clinical Laboratory Services Historic Market Analysis in Italy in US$ Million by Location: 2012-2019
TABLE 39: Italian Clinical Laboratory Services Market by Location: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED KINGDOM

TABLE 40: United Kingdom Market for Clinical Laboratory Services: Annual Sales Estimates and Projections in US$ Million by Location for the Period 2020-2027
TABLE 41: Clinical Laboratory Services Market in the United Kingdom: Historic Sales Analysis in US$ Million by Location for the Period 2012-2019
TABLE 42: United Kingdom Clinical Laboratory Services Market Share Analysis by Location: 2012 VS 2020 VS 2027

REST OF EUROPE

TABLE 43: Rest of Europe Clinical Laboratory Services Market Estimates and Forecasts in US$ Million by Location: 2020-2027
TABLE 44: Clinical Laboratory Services Market in Rest of Europe in US$ Million by Location: A Historic Review for the Period 2012-2019
TABLE 45: Rest of Europe Clinical Laboratory Services Market Share Breakdown by Location: 2012 VS 2020 VS 2027

ASIA-PACIFIC

TABLE 46: Clinical Laboratory Services Market in Asia-Pacific by Location: Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 47: Asia-Pacific Clinical Laboratory Services Historic Market Scenario in US$ Million by Location: 2012-2019
TABLE 48: Asia-Pacific Clinical Laboratory Services Market Share Analysis by Location: 2012 VS 2020 VS 2027

REST OF WORLD

TABLE 49: Rest of World Clinical Laboratory Services Market Estimates and Forecasts in US$ Million by Location: 2020 to 2027
TABLE 50: Rest of World Clinical Laboratory Services Historic Market Review by Location in US$ Million: 2012-2019
TABLE 51: Clinical Laboratory Services Market in Rest of World: Percentage Share Breakdown of Sales by Location for 2012, 2020, and 2027

IV. COMPETITION

Total Companies Profiled: 131

Note: Product cover images may vary from those shown
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