Global Clinical Diagnostics Market Report and Forecast 2024-2032

Global Clinical Diagnostics Market Outlook

The global clinical diagnostics market attained a value of more than USD 72.23 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of around 6.7% to reach a value of over USD 129.84 billion by 2032.

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The Clinical Diagnostics Industry in North America to Witness a Significant Growth in the Forecast Period

The market for clinical diagnostics in North America has been witnessing a robust growth due to an increase in awareness about health. Diagnostic tests help improve the patient care system and help reduce the overall cost by supporting the early detection of critical diseases, which is a major factor driving the market. The use of advanced diagnostic solutions in hospitals across the United States and Canada has been playing a crucial role in supporting the health of the citizens. Furthermore, with rising COVID-19 cases in the region, there has been an increased funding and a surge in the number of testing, which has boosted the overall market growth. Over the forecast period, the growing integration of AI and other technologies to improve patient care and improve existing services in healthcare facilities is expected to favour the market in the forecast period.

Clinical Diagnostics Market Segmentation

The process of identifying a disease, condition, or injury based on the signs and symptoms in a patient by going through his health history and conducting a physical examination is known as clinical diagnosis. A diagnostic test is performed to identify the cause of symptoms or identify a disease and its risk factors.

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The major types of clinical diagnostics are:

• Molecular Diagnostics 
• Immunodiagnostics
• Clinical Chemistry 
• Others

On the basis of molecular diagnostic technology, the market is categorised into:

• Microarray/ DNA and Gene Chip
• Next Generation Sequencing 
• PCR Technology
• Others

Based on product, the clinical diagnostics industry is classified into:

• Instruments and Consumables
• Services

The market can be broadly categorised on the basis of test location into:

• Point of Care (POC)
• Self-Test or OTC
• Central Laboratories

The EMR report looks into the regional markets of clinical diagnostics like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Demand for Advanced Diagnostic Solutions to Significantly Contribute Towards the Market Growth

Clinical diagnostics is used for managing patient’s health. It helps in monitoring the course of disease and one can identify the disease at an early stage. Additionally, it can help avoid long term complications among the infected patients, which is likely to enhance the importance of clinical diagnosis among the masses. Moreover, the increase in health awareness, coupled with the rising healthcare expenditure is aiding the market growth. Furthermore, the growing concerns pertaining to the risk of disease spread from infected patients are anticipated to boost the demand for clinical diagnostic kits in the forecast period. Diagnostic tests can be done either by instruments and consumables, or services. This factor is likely to enhance patient convenience, thereby aiding the market.

Key Industry Players in the Global Clinical Diagnostics Market

The report presents a detailed analysis of the following key players in the global clinical diagnostics market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Abbott Laboratories
• bioMérieux SA
• Bio-Rad Laboratories, Inc.
• Siemens AG
• QIAGEN GmbH
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report