Global Clinical Laboratory Services Market Report and Forecast 2024-2032

Global Clinical Laboratory Services Market Outlook

The global clinical laboratory services market reached a value of approximately USD 247.90 billion in 2023. The market is further expected to grow at a CAGR of 5.30% between 2024 and 2032, reaching a value of USD 395.29 billion by 2032.

The increasing prevalence of chronic conditions such as cancer, infections, genetic disorders, and cardiovascular disfunctions, as well as infectious diseases such as monkeypox, and Ebola, are fuelling the clinical laboratory services market. Rising awareness among the general population and healthcare professionals regarding the importance of early and regular medical testing are surging the demands for fast and accurate clinical laboratory services. As hospital facilities expand worldwide, more stand-alone laboratories and clinic-based laboratories are being setup in order to cater to rising demands. The growing number of clinical trials underway and expected to be launched in the coming years are expected to further increase the requirement for clinical laboratory services.

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Global Market Likely to be Driven by the Growing Need to Timely and Accurately Diagnose Diseases

Clinical laboratories play an important role in the healthcare system to timely diagnose and treat a disease, due to which the clinical laboratory services market is witnessing an upward trajectory. These laboratories conduct tests on body specimens utilised in patient diagnosis and therapy; blood tests and genetic analysis are examples of such assessments. The increasing demand for clinical laboratory services in both hospital and clinic-based laboratories, as well as independent laboratories, to combat the growing prevalence of chronic diseases, is expanding the market for clinical laboratory services.

Continual Research And Development Likely to Boost the Global Clinical Laboratory Services Market

Growing world population, launch of technologically advanced products, and continual research and development activities for novel products are expected to contribute towards the expansion of market for clinical laboratory services. Furthermore, the increasing numbers of approvals by authorities such as the FDA (U.S. Food and Drug Administration) would encourage the clinical laboratory services market growth by introducing novel, timesaving, and cost-effective diagnostic procedures. Clinical microbiology is a domain that witnesses continuous development due to the discovery of novel pathogens, establishment of novel laboratory investigation approaches and methods, rising demand for clinical laboratory services, and continually evolving pathogens. Hence, the advancements in clinical microbiology are likely to be the key clinical laboratory services market trends in the forecast period.

Global Clinical Laboratory Services Market Share by Region

The Asia Pacific is expected to be a key region in the market for clinical laboratory services, supported by the large population and improvements in healthcare infrastructure across developing nations such as India and China. More governments in the Asia Pacific are investing in healthcare infrastructure to ensure better healthcare for citizens and to cater to the rising burden of disease.

Meanwhile, the growing expansion of the U.S. clinical laboratory market size is one of the critical North America clinical laboratory test market trends. Increasing awareness about clinical laboratory services among the population in countries such as the United States and the robust pharmaceutical and biotechnological innovations are likely to garner the market growth of clinical laboratory services in North America further.

Global Clinical Laboratory Services Market Segmentation

Clinical laboratory services refer to biological, microbiological, serological, chemical, immunohematological, hematological, biophysical, cytological, pathological, or other investigation of materials drawn from the human body to provide information intended to  diagnose, prevent, or treat a disease or impairment in a human being, or to assess the health of a human, including processes to identify, measure, or describe the presence or absence of various substances or organisms in the body. Clinical laboratory services include clinical laboratory, anatomic pathology or other diagnostics testing services entailing routine and esoteric clinical laboratory services (including genetics testing), clinical laboratory services involved with clinical trials, point-of-care testing, clinical laboratory services involving corporate healthcare and services involved with managing hospital laboratories), health screening and risk assessment services, and information services involving the provision of data or information programs, services or products which substantially consists of laboratory or other medical data.

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By test type, the market is segmented into:

• Clinical Chemistry

• Immunology

• Cytology

• Genetics

• Microbiology

• Hematology

• Others

By service provider, the market is classified into:

• Hospital-Based Laboratories

• Stand-Alone Laboratories

• Clinic-Based Laboratories

By application, the market is divided into:

• Bioanalytical and Lab Chemistry Services

• Toxicology Testing Services

• Cell and Gene Therapy Related Services

• Preclinical and Clinical Trial Related Services

• Drug Discovery and Development Related Services

• Others

By region, the market is classified into:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Key Players in the Global Clinical Laboratory Services Market

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

• Quest Diagnostics Incorporated

• Laboratory Corporation of America® Holdings

• NeoGenomics Laboratories

• Abbott Laboratories

• Siemens Healthcare GmbH

• QIAGEN

• Sonic Healthcare Limited

• Eurofins Scientific

• SYNLAB International GmbH,

• ACM Global Laboratories

• ARUP Laboratories

• OPKO HEALTH, INC.

• Mayo Medical Laboratories

• DIAN DIAGNOSTICS Group Co., Ltd

• Unilabs AB

• Labco Advanced Clinical Laboratory

• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report