Clinical Laboratory Testing Services Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Clinical Laboratory Testing Services Market by Specialty (Clinical Chemistry Testing (Routine Chemistry Testing, Endocrinology Chemistry Testing, Therapeutic Drug Monitoring (TDM) Testing, Specialized Chemistry Testing, Other Clinical Chemistry Testing), Microbiology Testing (Infectious Disease Testing, Transplant Diagnostic Testing, Other Microbiology Testing), Hematology Testing, Immunology Testing, Cytology Testing, Genetic Testing, and Drug of Abuse Testing), by Provider (Independent and Reference Laboratories, Hospital-based Laboratories, and Nursing and Physician Office-based Laboratories) and Geography

 

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Report

Description

The clinical laboratory testing service market is valued at USD 185.2 billion in 2021 and is poised to grow at a significant CAGR of 6.8% over 2022–2028. The market for clinical laboratory testing services is expected to grow during the projected period due to the quick technical improvements to increase productivity and lower prices. For instance, in 2019, a new pre-pregnancy comprehensive carrier screening test from Australian Clinical Labs was introduced, it covers more inherited genetic diseases than its predecessor in less time. Clinical laboratories frequently adopt international standards, opening up the potential for automation and interoperability. For instance, in November 2020, Co-Diagnostics, Inc. and CoSara Diagnostics Pvt. Ltd. received approval from the Central Drugs Standard Control Organization (CDSCO) to make and distribute the Saragene COVID-19 2-gene multiplex RT-PCR test in India. Furthermore, market companies are working on launching innovative services to meet patients’ unmet needs. For instance, in July 2020, cGMP-compatible CTS Series Laboratory Equipment was introduced by Thermo Fisher Scientific, Inc. The tools include a wide range of lab tools commonly employed in producing gene and cell therapies, such as centrifuges, CO2 incubators, and biological safety cabinets. The market for clinical laboratory testing services is also anticipated to be driven by an increase in at-home testing for illness diagnosis and routine health condition monitoring. In addition, key players in the independent laboratory trend are heavily consolidating as they concentrate on strategic alliances and collaborations, which is expected to propel the market’s expansion. For instance, in October 2020, CENTOGENE, a significant provider of COVID-19 testing in Germany, teamed up with U-Diagnostics, a diagnostic laboratory in the Netherlands, to expand COVID testing services throughout the Netherlands. Additionally, in July 2020, Targos Molecular Pathology and HistoCyte Laboratories joined forces with Diaceutics PLC, a company specializing in diagnostic network solutions for developing and commercializing precision medicine diagnostics, to improve and expand diagnostic testing services in 2,500 labs worldwide. Therefore, the overall market for clinical laboratory services is growing due to all these advancements.

Recent Market Developments:

In March 2022, Mindray introduced 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.

Clinical Laboratory Testing Services Market

MARKET SUMMARY
-
6.8% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 6.8%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market–  North America

Clinical Laboratory Testing Services Market

  • The global clinical laboratory testing service market report gives comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The clinical laboratory testing service market report gives historical, current, and future market sizes (US$ Mn) on specialty, provider, and geography.
Key Players
  • Arup Laboratories
  • Sonic Healthcare
  • Quest Diagnostics, Inc.
  • OPKO Health, Inc.
  • Abbott
Clinical Laboratory Testing Services Market Dynamics

The demand for clinical diagnostics is anticipated to benefit from the rising burden of cancer. For instance, according to the Global Cancer Observatory’s (Globocan) Statistics 2020, there were 19.3 million new cancer cases worldwide in 2020, including both sexes. The same source also stated that the incidence of cancer is rising quickly worldwide, and it is foreseen that by 2040, there will be 30.2 million new cancer cases worldwide, including both sexes. Therefore, market players are concentrating on technical upgrades of their goods to have a competitive edge over the other competitors, which will further augment the market’s growth due to the growing burden of the target diseases. On the other hand, market growth is anticipated to be constrained by pricing pressure experienced by healthcare payers and providers and the transition from lab-based diagnosis to home-based/point-of-care testing techniques.


North-America Got Significant Share

Clinical Laboratory Testing Services Market

The clinical laboratory testing service market in North America is likely to hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. Due to the country's high prevalence of chronic diseases and the necessity for clinical laboratory testing services for effective patient care, the United States is expected to experience significant growth within the region. Other significant factors propelling the expansion of the studied market in the North American region include the high burden of chronic and targets diseases in the area and the rising desire for early diagnosis. For instance, the Canadian Cancer Society's 2021 study estimated that there would be roughly 229,200 new cancer cases in Canada that year. Additionally, on average, 628 Canadians are already diagnosed with cancer every day, and this number is likely to rise in the coming years.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The clinical laboratory testing service market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
Clinical Laboratory Testing Services Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The clinical laboratory testing service market is projected to expand at a CAGR of 6.8% during the forecast period.

NeoGenomics Laboratories, Inc., Fresenius Medical Care, DaVita, Inc., Siemens Healthcare GmbH, Viapath Group LLP, SGS SA, Almac Group

North America is the fastest-growing region for clinical laboratory testing service market


Report

Company Profile

  • Qiagen
  • Quest Diagnostics, Inc.
  • OPKO Health, Inc.
  • Abbott
  • Charles River Laboratories International, Inc.
  • Cinven
  • Arup Laboratories
  • Sonic Healthcare
  • Laboratory Corporation of America Holdings (LabCorp)
  • NeoGenomics Laboratories, Inc.
  • Fresenius Medical Care
  • DaVita, Inc.
  • Siemens Healthcare GmbH
  • Viapath Group LLP
  • SGS SA
  • Almac Group

Description

The clinical laboratory testing service market is valued at USD 185.2 billion in 2021 and is poised to grow at a significant CAGR of 6.8% over 2022–2028. The market for clinical laboratory testing services is expected to grow during the projected period due to the quick technical improvements to increase productivity and lower prices. For instance, in 2019, a new pre-pregnancy comprehensive carrier screening test from Australian Clinical Labs was introduced, it covers more inherited genetic diseases than its predecessor in less time. Clinical laboratories frequently adopt international standards, opening up the potential for automation and interoperability. For instance, in November 2020, Co-Diagnostics, Inc. and CoSara Diagnostics Pvt. Ltd. received approval from the Central Drugs Standard Control Organization (CDSCO) to make and distribute the Saragene COVID-19 2-gene multiplex RT-PCR test in India. Furthermore, market companies are working on launching innovative services to meet patients’ unmet needs. For instance, in July 2020, cGMP-compatible CTS Series Laboratory Equipment was introduced by Thermo Fisher Scientific, Inc. The tools include a wide range of lab tools commonly employed in producing gene and cell therapies, such as centrifuges, CO2 incubators, and biological safety cabinets. The market for clinical laboratory testing services is also anticipated to be driven by an increase in at-home testing for illness diagnosis and routine health condition monitoring. In addition, key players in the independent laboratory trend are heavily consolidating as they concentrate on strategic alliances and collaborations, which is expected to propel the market’s expansion. For instance, in October 2020, CENTOGENE, a significant provider of COVID-19 testing in Germany, teamed up with U-Diagnostics, a diagnostic laboratory in the Netherlands, to expand COVID testing services throughout the Netherlands. Additionally, in July 2020, Targos Molecular Pathology and HistoCyte Laboratories joined forces with Diaceutics PLC, a company specializing in diagnostic network solutions for developing and commercializing precision medicine diagnostics, to improve and expand diagnostic testing services in 2,500 labs worldwide. Therefore, the overall market for clinical laboratory services is growing due to all these advancements.

Recent Market Developments:

In March 2022, Mindray introduced 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.

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