Clinical Diagnostic Services Market was valued at USD 232.8 billion in 2022 and is poised to grow at a significant CAGR of 3.5% over 2023-2029. Clinical laboratories are an essential component of the healthcare business. In these clinical laboratories, all diagnostic procedures, from blood testing to genetic analysis, are conducted to diagnosis various disorders. Diagnostics and test results are provided by clinical laboratories, which help to maximise the essential delivery in the healthcare system. The Hospital Laboratories segment anticipated to grow at significant CAGR over the forecast years owing to increasing burden of chronic diseases and growing demand for early diagnostic tests are expected to be high impact-rendering driver segment. The introduction of accurate and technologically advanced products, such as companion diagnostics, biochips, and microarrays, has bolstered the demand for early disease detection. This is mainly due to increasing healthcare expenditure because of the growing prevalence of chronic diseases. Increased demand for Education, Training Courses of Clinical Diagnostic Equipment, Increased Competition Between OEMS and ISOS is Driving Changes in the Industry and Extensive Usage of Diagnostic Equipment are a few factors driving the industry's growth over the forecasting period.

Clinical Diagnostic Services Market Key Developments:
In March 2022, Mindray launched its latest BC-700 Series hematology analyzers for small-to-midsize labs that incorporate both complete blood count (CBC) and erythrocyte sedimentation rate (ESR) tests.
In September 2021, the Indian division of Roche Diagnostics launched Cobas pure integrated solutions analyzer with a more intelligent system particularly suitable for a large number of labs and hospitals operating in the country.