The Clinical Laboratory Services Market was valued at USD 233.63 Billion in 2024, and is projected to reach USD 286.77 Billion by 2030, rising at a CAGR of 3.82%. The growth of the industry can be attributed to the increasing prevalence of the geriatric population, which, in turn, is propelling the demand for early disease diagnosis. The growing prevalence of target diseases, such as diabetes and Cardiovascular Diseases (CVDs), is a high impact-rendering driver for industry growth over the forecast period. Cardiovascular disease is the leading cause of death globally. The presence of unmet medical needs pertaining to disease management and the subsequent increase in patient awareness in more regions are expected to boost the demand for clinical laboratory testing.
Improvements in laboratory testing technology through break through and incremental advances are high-impact-rendering drivers for industry growth. Market firms are engaged in introducing new Servicess to serve the unmet demand of patients. For instance, in May 2022, Hamilton County entered into a partnership with Ethos Laboratories for the launch of no-cost COVID-19 testing sites. In July 2022, Mayo Clinic laboratories launched monkeypox tests to increase availability and accessibility to a wider target population. Moreover, in January 2022, Quest Diagnostics launched COVID-19 rapid antigen tests available through QuestDirect in collaboration with eMed to provide access to testing for COVID-19 at home. The pandemic affected millions of people globally. According to the CDC and WHO, the standard for diagnosis of COVID-19 is RT-PCR for samples from the respiratory tract.
The adoption of PCR technology for the diagnosis of COVID-19 and the genetic sequencing of the virus for the development of a cure is driving the industry. Due to this pandemic, there is an increase in the approval of tests for the diagnosis of the novel coronavirus, with most of these tests approved under Emergency Use Authorization (EUA) by federal agencies. Furthermore, the industry operates through different sales channels-laboratories and hospitals. The presence of prominent players in various regions is expected to drive the industry. For instance, in February 2022,Labcorp entered into a comprehensive partnership with Ascension. Through this collaboration, Labcorp will handle Ascension’s hospital-based labs situated in ten states for buying assets for its outreach laboratory business.
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Improvements in laboratory testing technology through break through and incremental advances are high-impact-rendering drivers for industry growth. Market firms are engaged in introducing new Servicess to serve the unmet demand of patients. For instance, in May 2022, Hamilton County entered into a partnership with Ethos Laboratories for the launch of no-cost COVID-19 testing sites. In July 2022, Mayo Clinic laboratories launched monkeypox tests to increase availability and accessibility to a wider target population. Moreover, in January 2022, Quest Diagnostics launched COVID-19 rapid antigen tests available through QuestDirect in collaboration with eMed to provide access to testing for COVID-19 at home. The pandemic affected millions of people globally. According to the CDC and WHO, the standard for diagnosis of COVID-19 is RT-PCR for samples from the respiratory tract.
The adoption of PCR technology for the diagnosis of COVID-19 and the genetic sequencing of the virus for the development of a cure is driving the industry. Due to this pandemic, there is an increase in the approval of tests for the diagnosis of the novel coronavirus, with most of these tests approved under Emergency Use Authorization (EUA) by federal agencies. Furthermore, the industry operates through different sales channels-laboratories and hospitals. The presence of prominent players in various regions is expected to drive the industry. For instance, in February 2022,Labcorp entered into a comprehensive partnership with Ascension. Through this collaboration, Labcorp will handle Ascension’s hospital-based labs situated in ten states for buying assets for its outreach laboratory business.
Clinical Laboratory Services Market Report Highlights
- Based on test type, the clinical chemistry segment led the market with the largest revenue share of 56.60% in 2024.
- Based on service provider, the hospital-based laboratories segment accounted for the largest market share in 2024.
- Based on application, the bioanalytical & lab chemistry services segment accounted for the largest revenue share in 2024.
- North America dominated the clinical laboratory services market with the largest revenue share of 37.24% in 2024.
Why Should You Buy This Report?
- Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listings for you to stay ahead of the curve
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Clinical Laboratory Services Market Variables, Trends & Scope
Chapter 4. Clinical Laboratory Services Market: Test Type Estimates & Trend Analysis
Chapter 5. Clinical Laboratory Services Market: Service Provider Estimates & Trend Analysis
Chapter 6. Clinical Laboratory Services Market: Application Estimates & Trend Analysis
Chapter 7. Clinical Laboratory Services Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
The companies profiled in this Clinical Laboratory Services market report include:- Laboratory Corporation of America Holdings (LabCorp)
- QIAGEN
- Eurofins Scientific
- Quest Diagnostics Incorporated
- OPKO Health, Inc.
- Siemens Healthineers AG
- NeoGenomics Laboratories.
- Fresenius Medical Care.
- ARUP Laboratories.
- Sonic Healthcare Limited
- Charles River Laboratories.
- SYNLAB International
- Mayo Clinic Laboratories
- Unilabs
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 150 |
Published | April 2025 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 233.63 Billion |
Forecasted Market Value ( USD | $ 286.77 Billion |
Compound Annual Growth Rate | 3.8% |
Regions Covered | Global |
No. of Companies Mentioned | 15 |