Description
The
objective of this report is to define, describe, and forecast the market on the
basis of type, application, medical condition, and region. It provides detailed
information regarding the major factors influencing the growth of the market.
This report also tracks and analyzes competitive developments of the key
players in terms of market developments, product portfolios, and financials
Global
clinical laboratory services market is expected to reach USD 261.42 billion by
2020. The demand for early diagnosis in order to render effective therapeutic
interventions is on a constant rise. Wide range of diagnostic tests encompassed
in the clinical laboratory services segment coupled with increasing incidence
rates of infectious and chronic diseases is expected to drive market growth
during the forecast period. In addition, presence of untapped growth
opportunities and the rapidly improving healthcare infrastructure in emerging
markets such as China, India and Brazil are expected to offer growth
opportunities for industry participants.
Clinical
chemistry based services dominated the overall market, accounting for over
45.0% of the revenue share in 2013, owing to the fact that these tests are a
part of the initial disease diagnostic process and thus are carried out in
large volumes.
Further
key findings from the study suggest:
Human
& tumor genetics followed clinical chemistry tests in terms of revenue. The
market for human & tumor genetics is expected to grow at a CAGR of over
6.0% from 2014 to 2020 majorly owing to increasing global incidence rates of
cancer.
Stand
alone laboratories are expected to witness significant gains over the forecast
period. Growing use of these laboratories in emerging and underdeveloped
economies in an attempt to improve healthcare access is expected to be the
primary growth driver for this segment.
North
America dominated the overall clinical laboratory services market in terms of
revenue share in 2013, majorly on account of the presence of high prevalence
levels of chronic and infectious diseases and sophisticated reimbursement
networks.
Asia
Pacific is expected to be a high-growth clinical laboratory services market
over the forecast period. Growing demand for proper diagnostics and rapidly
improving healthcare infrastructure in the emerging markets of China and India
are some factors attributing to its rapid growth rate.
Some
key market players of clinical laboratory services include Genoptix Medical
Laboratory, Quest Diagnostics Inc., LabCorp, Sonic Healthcare, Labco S.A.,
Charles River Laboratories, Bio-Reference Laboratories, Abbott Laboratories and
Healthscope.
The
market has witnessed a surge in R&D spending in recent times, aimed at developing
technologically advanced products and systems to provide precise result even
when dealing with large sample volumes.
For
the purpose of this study, Grand View Research has segmented the global
clinical laboratory services market on the basis of test type, service provider
and region:
Global
Clinical Laboratory Services Test Outlook (Revenue, USD Billion, 2012 - 2020)
Human
& Tumor Genetics
Clinical
Chemistry
Medical
Microbiology & Cytology
Other
Esoteric Tests
Global
Clinical Laboratory Services, Service Provider Outlook (Revenue, USD Billion,
2012 - 2020)
Hospital-Based
Laboratories
Stand-Alone
Laboratories
Clinic-Based
Laboratories
Clinical
Laboratory Services Regional Outlook (Revenue, USD Billion, 2012 - 2020)
North
America
Europe
Asia
Pacific
RoW
This
report is a complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
model analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis
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