Request Sample
Request Methodology
Description
Clinical Laboratory Services Market size was valued at US$ 176.4 billion in 2021 and is projected to reach US$ 266.64 billion by 2028 at a CAGR of 5.3% during the forecast period 2022 to 2028. Clinical laboratory services are a very important part of the healthcare industry. These laboratories provide various services such as blood tests, diagnostic tests, and genetic tests for identifying the disease causes and play a major role in the drug discovery process. Furthermore, clinical laboratory services provide information and offer services to improve the efficiency of healthcare systems such as diagnostic and test reports. The revolution of genetic testing and biopharmaceuticals has led to the emergence of new diagnostic procedures that involve laboratory testing. In may 2017, LabCorp, has acquired Pathology Associates Medical Laboratories (PAML), a premier medical reverence laboratory and healthcare solution company of Washington, to expand its geographic presence. In September 2017, Quest Diagnostics, a leading provider of diagnostic information services entered into an agreement to acquire Shiel medical Laboratory business from Fresenius Medical Care, to expand its services. In June 2015, Laboratory Corporation of America Holdings and Sysmex Corporation entered into a strategic collaboration to develop blood-based molecular diagnostics tests to advance precision medicine. According to a 2018 World Health Organization (WHO) report, tuberculosis (TB) was one of the top ten causes of mortality worldwide. In 2018, 1.5 million people died from tuberculosis (including 251,000 people with HIV). For instance, in October 2017, Abbot Laboratories acquired Alere Inc., a leader in point of care diagnostics and clinical laboratory services provider to strengthen its product portfolio.
