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Clinical Laboratory Test Market Size Estimation, Latest Trends, Competitive Outlook, Research Insights and Industry Dynamics by 2027

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Clinical Laboratory Test Market Research Report by Types of Laboratories, Types of Test, Application, Forecast till 2027

New York, United States - January 21, 2022 /MarketersMedia/ — Clinical Laboratory Test Market Overview

As per the research reports by MRFR, the global clinical laboratory test market is likely to reach USD 324508.8 million at a CAGR of 6.5% during the assessment timeframe. Clinical laboratory tests are used to detect serious diseases and diagnose disorders. The global clinical laboratory test market has witnessed massive growth in recent times.

The clinical laboratory test market is attributed to the increase in the number of anatomical pathology tests, growing number of diseases among people, growing number of government initiatives, increase in the number of routine medical tests, and growing healthcare facilities. However, the market's growth is likely to be restricted by the low availability of test kits, non-availability of laboratories in rural regions, and high costs associated with these tests.

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Clinical Laboratory Test Market Segment Analysis

The global clinical laboratory test market has been divided into segments based on end-users, applications, types of tests, laboratories, and regions.

Based on the type of laboratories, the market is split into hospital-based laboratories, physician office-based laboratories, central/independent laboratories, and others.

By type of test, the global market for a clinical laboratory test is divided into complete blood count (CBC), basic metabolic panel (BMP), HbA1c test, HGB/HCT test, comprehensive metabolic panel test, BUN creatinine test, renal panel test, electrolytes testing, liver panel test, lipid panel test, and others.

Based on application, the clinical laboratory test market is bifurcated into parasitology, virology, hematology, toxicology, immunology/serology, histopathology, urinalysis, and others.

By end-users, the market is split into hospital-based laboratories, stand-alone laboratories, clinic-based laboratories, and others.

Clinical Laboratory Test Market Regional Analysis

The global market for a clinical laboratory test is studied across five major regions, including North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

The North American region is likely to secure the top position in the global clinical laboratory test market over the forecasted era. The regional market's growth is being driven by the growing expenditure on healthcare given the rising prevalence of diseases related to hypertension, stroke, cancer, cardiovascular diseases, and other fatal diseases. Additionally, the rapid growth in R&D activities to launch innovative technologies for testing is another crucial aspect catalyzing the regional clinical laboratory test market growth.

The European region holds the second position in the global clinical laboratory test market. The growth of the regional market is attributed to the growing demand for clinical laboratories in clinics, research institutes, and hospitals and the growing senior population.

The Asia-Pacific regional market is likely to record the fastest growth rate over the review timeframe. The regional market's growth is given the huge population, especially geriatrics.

Clinical Laboratory Test Market Competitive Analysis

The global market for clinical laboratory tests has an intensely competitive landscape with a massive number of players spread worldwide. The players in the global market are making heavy investments in R&D to strengthen the global clinical laboratory test market footprint. The list of leading players in the clinical laboratory test includes Bio-Reference Laboratories, SYNLAB International, Eurofins Scientific, Spectra Laboratories Inc., Sonic Healthcare, LifeLabs Medical Laboratories, AURORA Diagnostics, Cerba Healthcare, Unilabs, Laboratory Corporation of America Holdings, Mayo Medical Laboratories, Quest Diagnostics, Laboratory Corporation of America, and several others.

Recent Developments

Exact Sciences Corp. disclosed the completion of an acquisition of a genetic testing laboratory, PreventionGenetics, to complete its advanced cancer diagnostics portfolio and help its admission into hereditary cancer testing (HCT). PreventionGenetics offers the clinical lab, foundational technology, and expertise mandatory to boost the accessibility of HCT and help more patients know their germline probability of cancer and other diseases.

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a healthcare company with a primary target of early cancer detection, GRAIL, LLC, announced that it is collaborating with the Knight Cancer Institute at Oregon Health & Science University (OHSU) to provide GRAIL's multi-cancer early detection (MCED) blood test, Galleri®. OHSU will offer patients access to Galleri through a pilot program to aid find signs of cancer in primary stages and advance cancer care delivery. Galleri test will be provided to eligible patients via the OHSU Knight Cancer Institute.

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