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Description
Clinical Diagnostics Market size was valued at USD 50.11 billion in 2021, growing at a significant CAGR of 5.02% over 2022-2028. Some of the key factors influencing the market growth include growing in patients with long term diseases/ disorders like diabetes, cardiovascular diseases, hypertension etc. where frequent testing required. Also increase in geriatric population plays a key role in the market. Expansion and advancements of these diagnostic testing’s are also thriving the market growth. Increase in health expenditure, rising in awareness about health care and testing in people are the important factors of the market growth. However, high requirement of initial capital amount, stringent regulations by the government, complex operating procedure of equipment, lack of skilled professionals are somehow restraining the market in some regions. Clinical diagnostics is the process of identifying a disease by signs, symptoms, a patient’s medical history, and a physical examination. They include the production, development, and marketing of test kits, automated test systems, and informatics systems. They aid in disease management to enhance patients’ overall health and well-being. They also assist in the classification of patients with various diseases so that focused medication can be given to them. Additionally, they can enhance the effectiveness of medicines, forecast therapeutic efficacy, and protect patients from long-term problems. As a result, clinical diagnostics are widely used in point-of-care testing, diagnostic laboratories, and hospital laboratories all over the world.
