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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Molecular Diagnostic Technology |
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| Breakup by Products |
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| Breakup by Test Location |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global clinical diagnostics market attained a value of more than USD 72.23 billion.
The market is projected to grow at a CAGR of around 6.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of over USD 129.84 billion by 2032.
The major drivers of the industry such as the increasing health awareness, growing effectiveness of treatments, increasing demand for diagnostic tests for steady recovery of patients, increasing COVID-19 cases, and growing innovations in the healthcare industry are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing investments by key players in product marketing, coupled with the increasing R&D activities in research institutes.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant types of clinical diagnostics included in the market report are molecular diagnostics, immunodiagnostics, and clinical chemistry, among others.
The major molecular diagnostic technologies in the industry are microarray/ DNA and gene chip, next generation sequencing, and PCR technology, among others.
The various products based on which the market has been bifurcated are instruments and consumables, and services.
The different test locations of clinical diagnostics included in the market report are point of care (POC), self-test or OTC, and central laboratories.
The major players in the industry are Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories, Inc., Siemens AG, and QIAGEN GmbH, among others.
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