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Clinical Laboratory Services - Global Strategic Business Report

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    Report

  • 494 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5878955
The global market for Clinical Laboratory Services is estimated at US$263.6 Billion in 2023 and is projected to reach US$376.6 Billion by 2030, growing at a CAGR of 5.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the clinical laboratory services market is driven by several factors, including the rising prevalence of chronic diseases, increasing demand for early and accurate diagnostic testing, and technological advancements. The global burden of chronic diseases like diabetes, cardiovascular diseases, and cancer has led to a higher demand for diagnostic testing, as early detection and continuous monitoring are crucial for effective management. The aging population further contributes to this demand, as older adults are more likely to require regular medical testing. Technological advancements, particularly in molecular diagnostics and automation, have expanded the range of tests available and improved their accuracy and efficiency, making them more integral to patient care. Additionally, the COVID-19 pandemic has underscored the importance of robust clinical laboratory services, driving investments in testing infrastructure and capabilities. Increased healthcare expenditure, improved access to medical services in developing regions, and a growing emphasis on personalized medicine also support market growth. These factors collectively underscore the critical role of clinical laboratory services in modern healthcare, highlighting their contribution to disease prevention, diagnosis, and management.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Clinical Chemistry segment, which is expected to reach US$163.3 Billion by 2030 with a CAGR of a 5.0%. The Human & Tumor Genetics segment is also set to grow at 4.8% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $124.9 Billion in 2023, and China, forecasted to grow at an impressive 7.3% CAGR to reach $15.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Clinical Laboratory Services Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Clinical Laboratory Services Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Clinical Laboratory Services Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Laboratory Corporation of America Holdings (LabCorp), Charles River Laboratories International, Inc., Asuragen, Inc., and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 125 Featured):

  • Laboratory Corporation of America Holdings (LabCorp)
  • Charles River Laboratories International, Inc.
  • Asuragen, Inc.
  • Labcorp Drug Development
  • Opko Health, Inc.
  • NeoGenomics Laboratories, Inc.
  • Agena Bioscience, Inc.
  • Eurofins Scientific SE
  • Meridian Life Science, Inc. (MLS)
  • Enzo Biochem, Inc.
  • Exosome Diagnostics, Inc.
  • Mayo Clinic
  • DaVita, Inc.
  • Genoptix, Inc.
  • Alere Toxicology

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • An Introduction to Clinical Laboratory Services
  • Types of Tests Conducted in Medical Labs
  • Types of Clinical Laboratories
  • Global Market Prospects & Outlook
  • Hospital-based Laboratories Lead the Global Market
  • Developed Regions Lead, Developing Economies Present Considerable Growth Opportunities
  • Competition
  • World Brands
  • Recent Market Activity
  • Clinical Laboratory Services - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Healthcare Needs of Aging Population to Boost Demand for Laboratory Services
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Life Expectancy at Age 60 and 80 Years: (2010-2015), (2020-2025) & (2045-2050)
  • Increasing Incidence of Chronic Diseases Drives the World Clinical Laboratory Services Market
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Global Annual Medical Cost of CVD in US$ Billion: 2010, 2015, 2020, 2025 and 2030
  • Rise in Healthcare Expenditure to Drive Growth
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Elderly Healthcare Expenditure as a % of GDP
  • Role of Clinical Labs in Testing Infectious Diseases Grows in Importance
  • Infectious Diseases Remain Major Cause of Death in Under Developed Regions: Breakdown of Leading Causes of Death in Sub-Saharan Africa (in %)
  • Infectious Diseases Related Mortality High Among Children Below 5 Years: Breakdown of Leading Causes of Death in Children Below 5 Years (in %)
  • Increasing Prevalence of Respiratory Infections Drive Growth
  • Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
  • Lab Automation Speeds Up
  • Rise of Laboratory 4.0 Transforms Clinical Laboratory Space
  • Laboratory Information Systems Gain Traction amidst Growing Need to Enhance Workflow Efficiencies and Reduce Costs
  • Artificial Intelligence: The Future of LIMS
  • Digitalization, Automation and AI Trends Shape Growth
  • Microbiology Laboratories Switch to Automation to Push Yields
  • World Laboratory Automation Market in US$ Billion for Years 2018, 2020, 2022, 2024 & 2026
  • Artificial Intelligence Holds Positive Implications for Automation of Clinical Microbiology
  • Clinical Microbiology Market Benefits from Digitalization and Robotization Trend
  • Integration of Clinical Microbiology with Cloud Computing
  • Advent of New & Advanced Devices Fuels Growth in Clinical Laboratory Services Market
  • New Technologies and Tests Drive Demand for Specific Testing
  • Increasing Role of Advanced Tests in Clinical Treatment Decision Making
  • Innovations Hold Potential to Improve Clinical Chemistry Lab Performance
  • Disruptive Innovations in Clinical Lab Space Present Growth Opportunities
  • Increasing Opportunities in Personalized Medicine and Clinical Trial Services
  • Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019, 2021, 2023 and 2025
  • Autoimmune Disease Testing: Labs Seek Cost-Effective & High Productivity Options
  • Genetic Disease Testing Offers Bright Prospects for Lab Services
  • Reduced Hospitalization Enhances Significance of Medical Labs
  • Standardization Gains Precedence in the Hunt for Automation
  • Assessing the Impact of Point-of-Care Testing on Clinical Labs
  • Hospital Laboratories to Transform into Profit Centers
  • Hospital Outreach Laboratories Deliver Better Value to Larger Organizations
  • Physician Office Laboratories: Focus on Reducing Turnaround Times for Testing
  • Emerging Clinical Laboratory Designs Focus on Improving Space Utilization and Promote Healthy Work Environments
  • Laboratory Outsourcing Trend Gains Strength
  • Challenges Facing Lab Testing Market
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Clinical Laboratory Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Clinical Laboratory Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Clinical Laboratory Services by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Clinical Chemistry by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Clinical Chemistry by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Clinical Chemistry by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Human & Tumor Genetics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Human & Tumor Genetics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Human & Tumor Genetics by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Medical Microbiology & Cytology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Medical Microbiology & Cytology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for Medical Microbiology & Cytology by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Other Test Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Other Test Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Other Test Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Hospital-based Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Hospital-based Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Hospital-based Laboratories by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Independent Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Independent Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Independent Laboratories by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Physician Office-based Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Physician Office-based Laboratories by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Physician Office-based Laboratories by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 25: World Clinical Laboratory Services Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • United States: A Major Market for Clinical Laboratory Services
  • A Glance at Major Growth Drivers
  • Unmet Diagnostic Needs of Aging Population: Major Driver
  • US Elderly Population: Expected Growth Rates Over the Years 2005-2025
  • Increasing Burden of Chronic Diseases Drives Focus onto Early Detection & Prevention
  • Cancer Statistics in the US
  • Leading Sites of New Cancer Cases in Males: 2023
  • Leading Sites of New Cancer Cases in Females: 2023
  • Prevalence of Diabetes in the US
  • Diabetes and Population Statistics in North America and Caribbean Region (2019, 2030 & 2045)
  • Opportunities in Personalized Medicine and Clinical Trial Services
  • Growing Focus on Early Diagnosis
  • Impact of Scientific Advances & Role of Healthcare IT Solutions
  • Need to Reduce Healthcare Costs
  • Opportunities from Individual Testing & Population Screening Initiatives
  • Clinical Laboratory Services: Systemic Challenges
  • Changing Healthcare Industry Dynamics Affect Clinical Lab Testing Market
  • Healthcare Spending as a % of GDP in the US: 2010-2023
  • Key Trends & Issues
  • Anatomic Pathology & Cytology Testing: Personalized Medicine Presents Positive Future
  • Esoteric Testing Market: Faster Growth than Routine Testing Segment
  • Molecular Diagnostics: Promising Growth Opportunities
  • Drugs of Abuse Testing: Prospects Linked to Employment Levels
  • Future Holds Promise for Specialty Testing Market
  • Smaller Labs Embrace Digital Pathology Systems
  • Impact of Healthcare Spending Cuts on Routine & Specialty Lab Tests
  • Increasing Role of Advanced Tests in Clinical Treatment Decision Making
  • Toxicology Laboratories Market: An Insight
  • Genetic and Genomic Clinical Lab Testing Market: Promising Prospects
  • Shift towards Managed Care - A Challenge for Independent Clinical Labs?
  • ACO Business Model: A Challenge for Independent Labs
  • Integration of Clinical Care: Impact on Clinical Labs & Anatomic Pathology Groups
  • Hospital Laboratory Outreach Programs: On the Rise
  • Physician Practices: The New Acquisition Targets
  • Cost Cutting Measures to Hit Lab Outreach Testing Business?
  • Shortened Hospital Stay Enhances Significance of Medical Labs
  • POCT Segment Withstands Cost Pressures
  • Quality Concerns Bring IT Solutions & Automation to the Fore
  • Move towards IQCP
  • Reimbursement Policies Strongly Influence Clinical Lab Services Market
  • Challenges Facing Clinical Labs Market
  • Competitive Landscape
  • Providers of Clinical Laboratory Service in the US: A Review
  • Hospital-Based Labs
  • Independent Labs
  • Independent Labs Market in the US (2019): Percentage Share Breakdown of Revenues for Quest Diagnostics, LabCorp, Small Independent Labs and Others
  • Physician Office-Based Labs and Others
  • Consolidation Activity Gathers Pace in Clinical Laboratory Testing Market
  • Accreditation and Regulatory Scenario in the US
  • Clinical Laboratory Improvement Amendments (CLIA)
  • CLIA Laboratories Registered: March 2020
  • A2LA
  • ASCLS
  • CAP
  • An Overview of Select Regulations
  • Protecting Access to Medicare Act (PAMA) of 2014
  • Health Insurance Portability and Accountability Act of 1996
  • Substance Abuse and Mental Health Services Administration (SAMHSA) Regulation
  • Medicare Coverage for Screening Tests
  • Medicare Spending in the US by Category (2023): Percentage Share Breakdown of Spending for Medicare Advantage, Inpatient Hospital, Prescription Drugs, Physician Fee Schedule, Outpatient Hospital and Others
  • Medicaid
CANADA
JAPAN
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Clinical Laboratory Services Market in China: An Overview
  • Healthcare Reforms Bolster Opportunities
  • Independent Clinical Labs Gain from Prevailing Trends
  • Leading Independent Medical Labs in China (2023): Percentage Breakdown of Revenues for Leading Players
  • Market Leaders Look to Expand Beyond Clinical Services
  • CNAL: The National Accreditation Body in China
EUROPE
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Market Overview
  • Aging Population: Prime Growth Driver
  • Automated Systems Gain Preeminence
  • Accreditation and Regulatory Scenario in the EU
FRANCE
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Clinical Laboratory Services in Germany: An Overview
  • Regulatory/Accreditation Scenario
ITALY
UNITED KINGDOM
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Market Overview
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Asia-Pacific: An Emerging Market
AUSTRALIA
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
  • India: High Growth Market
  • Clinical Laboratory Market: Overview
  • Levels of Medical Laboratories
  • Competitive Landscape
SOUTH KOREA
  • COVID-19 Steers Clinical Lab Services Market
REST OF ASIA-PACIFIC
LATIN AMERICA
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Clinical Laboratory Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Laboratory Corporation of America Holdings (LabCorp)
  • Charles River Laboratories International, Inc.
  • Asuragen, Inc.
  • Labcorp Drug Development
  • Opko Health, Inc.
  • NeoGenomics Laboratories, Inc.
  • Agena Bioscience, Inc.
  • Eurofins Scientific SE
  • Meridian Life Science, Inc. (MLS)
  • Enzo Biochem, Inc.
  • Exosome Diagnostics, Inc.
  • Mayo Clinic
  • DaVita, Inc.
  • Genoptix, Inc.
  • Alere Toxicology

Table Information