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The global clinical laboratory tests market was valued at USD 230.99 billion in 2023 driven by the growth of technological advancements and growing rate of chronic diseases across the globe. The market is estimated to grow at a CAGR of 7.2% in the forecast period of 2024-2032 and reach a market value of USD 431.86 billion by 2032.
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Clinical laboratory tests are important in identifying a disease and assessing the effectiveness of treatment. These range from simple chemical tests to advanced molecular methods for testing and identifying. It plays an important role in producing and delivering essential diagnostic products and services for diseases. The market growth is driven due to increased use of technology and rising prevalence of chronic diseases are more common. It helps doctors make informed health decisions, diagnose conditions, and recommend treatments while making sure patients get the right treatments. Both general and specific labs play a big role in patient management.
Rising Popularity of Preventive Healthcare Influencing Market Growth
Rising chronic diseases and increasing healthcare costs are driving the preventive healthcare market growth. It emphasizes preventing disease instead of treating it. Age, gender, and general body check-ups are becoming more common primary methods for diagnosing and treating diseases. For example, women aged 38 to 42 should get mammograms to screen for breast cancer, leading to increased frequency of clinical lab tests. This trend is significantly affecting the market, pointing to the need for improved diagnostic solutions.
Growing Interest of Businesses in Building Automated Clinical Laboratories
One of the major factors contributing to market growth includes the increasing interest of key players in integrating automation to enhance laboratory functionality. Automation offers several benefits such as replacing pre-existing manual processes, increasing capacity, and improving results quality, thus driving market development.
For example, in April 2023, Flow Robotics launched the ScanID device featuring 1D and 2D scanners designed to optimise sample identification and minimise errors during the pre-analytical phase. Hence, such product launches are expected to play an important role in supporting the infrastructure and lead to operation of automated laboratories.
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| Key Trends | Impact |
| Rising Adoption of Molecular Diagnostics | The widespread adoption of molecular diagnosis systems and allied tests due to genomic programming and personalized therapies has significantly improved the diagnostic accuracy of various biomarkers and disease indicators. Thus, it is propelling market growth. |
| Growing of Point-of-Care Testing (POCT) | Increasing use of point-of-care testing (POCT) is amongst the major market trends, where tests are conducted close to or at the patient’s side for quick results. POCT offers faster test results and patient care. It is convenient for implementation across various clinical areas, and it generally enhances patient outcomes influencing its growing adoption. |
| Increasing Focus on Liquid Biopsies | Blood-based liquid biopsy sampling methods, such as circulating tumor DNA (ctDNA) and other biomarkers are increasingly integrated into clinical practice for cancer detection, treatment monitoring, and recurrence tracking. These liquid biopsies are mostly noninvasive and provide real-time results, enhancing cancer diagnoses and helping with personalized treatments for cancer patients. |
| Integration of Big Data Analytics and Artificial Intelligence | Integrating AI and big data incorporation in medical analysis is rapidly changing clinical laboratory testing. Such technologies provide healthcare applied sciences with various tools for perception patterns, analytical projections, and decision-making aids, thus making diagnosis efficient, enhancing organizational productivity, and significantly contributing to patients' well-being. |
In March 2024, Neurocode USA launched ALZpath Dx, which is a blood test for screening, diagnosing, and tracking Alzheimer’s disease. This innovative test measures the levels of pTau217 in the bloodstream, offering valuable insights into the disease’s progression and severity. AlzheiDAits Dx represents significant advancements in Alzheimer's diagnostics by providing a less invasive and efficient method for early detection, ultimately improving patient care and treatment.
In March 2023, Quest Diagnostics announced the launch of an Expanded Test Panel post-COVID-19, offering consumers additional diagnostic tests. This panel includes a complete blood count (CBC), basic metabolic panel (BMP), and hepatic function panel tests. These tests are important not only for assessing ongoing health issues related to the COVID-19 virus but also for helping with informed discussions between patients and healthcare providers regarding their health concerns.
In March 2023, Fluxergy finalized the acquisition of InnaMed Blood Testing Tech, marking a significant step towards integrating metabolic panel creation using electrochemical biosensors with HomeLab™ instrument and analysis software. This strategic move lets Fluxergy enhance its capabilities in identifying and tracking a range of biomarkers critical for diagnostics, such as glucose level, electrolytes, hormones, liver enzymes, and cardiac enzymes. This acquisition positions Fluxergy to offer more effective diagnostic options through advanced technology and expanded analytical capabilities.
Market Breakup by Test Type
Market Breakup by Category
Market Breakup by Patient Type
Market Breakup by Service Provider
Market Breakup by Region
Hospital-Based Laboratories is Anticipated to Have the Largest Market Share Based on Service Provider
The market segmentation by service provider is divided into hospital-based laboratories, stand-alone laboratories, and clinic-based laboratories. Among these hospital-based laboratories are poised to lead the market because of its well-developed infrastructure and patient access. Its direct interface with patients makes tests and diagnoses efficient. This prevalence shapes the modern market environment, indicating preference towards integrated care and increasing demand for innovative diagnostic equipment. On the other hand, stand-alone and clinic-based laboratories provide specialized services and accessible services thus propelling the market growth.
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The clinical laboratory tests market is categorized into different regions, namely, North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Out of these, North America dominates the market due to its superior healthcare facilities, high healthcare spending, and advanced research and development in medicine. The United States with its highly developed healthcare system leads the market.
In Asia Pacific region, rising incidence of chronic diseases, improved healthcare frameworks, and growing awareness of preventive care are key factors contributing to the market growth. Meanwhile, Latin America, the Middle East, and Africa are also experiencing growth, driven by development such as increased access to quality healthcare services and increased governmental initiatives aimed at improving healthcare facilities.
The key features of the market report include strategic initiatives constituting recent partnerships and collaborations as well as funding and investments by the leading players. The major companies in the market are as follows:
ARUP Laboratories
It is a US based company founded in 1984. They are known for their advanced diagnostic immunoassays, genetic testing, and specialized testing services. The company got the approval from FDA for a diagnostic immunoassay, AAV5 DetectCDx™.
Opko Health, Inc.
Established in 1991 and based in Florida, United States, the company has many laboratories like BioReference Laboratories and GenPath Oncology laboratories that provide clinical laboratory testing services covering molecular diagnostics. They also focused on personalized medicine and diagnostic innovations.
NeoGenomics Laboratories, Inc.
Founded in 2002 and headquartered in the United States, the company specializes in oncology testing services including immunohistochemistry (IHC), in situ hybridization (ISH), and molecular testing (PCR), morphologic evaluation.
Eurofins Scientific
This is a Luxembourg-based company established in 1987. The company offers an extensive portfolio of genetic testing services including noninvasive prenatal testing (NIPT), molecular genetics, pharmacogenomics, and environmental testing.
Other companies include Bioscientia Institut für Medizinische Diagnostik GmbH, Mayo Clinic Laboratories, Laboratory Corporation of America Holdings, Spectra Laboratories, Inc., SYNLAB International, Quest Diagnostics Incorporated.
Kindly note that this only represents a partial list of companies and the complete list has been in 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 Test Type |
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| Breakup by Category |
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| Breakup by Patient Type |
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| Breakup by Service Provider |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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