OFFICE BASED LABS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global office-based labs market is estimated to be valued at USD 24.53 Bn in 2024, and is expected to exhibit a CAGR of 7.5% during the forecast period (2024-2031). Global office-based labs market has been witnessing steady growth in the recent years, owing to rising prevalence of chronic diseases worldwide and growing need for faster diagnosis. Office-based labs provide convenient diagnostic services in the vicinity of patients' residence, and this boosts people’s preference for office-based labs over hospital-based diagnostic centers. Various technological advancements in lab equipment and introduction of automation has enabled complex tests to be performed in office-based setups. This has encouraged more healthcare practitioners to establish their own office-based labs. Moreover, favorable government policies in some countries for setting up office-based diagnostic centers independent of hospitals is expected to propel the office-based labs market during the forecast period.
Market Dynamics:
Global office-based labs market growth is driven by growing geriatric population susceptible to various chronic diseases, increasing healthcare expenditure, and rising demand for convenient diagnostic services. However, price pressures due to intense competition among existing market players and lack of skilled laboratory professionals in certain regions are some of the factors hampering the market growth. The market players witness opportunities in point-of-care testing technology integrating advanced technologies such as artificial intelligence and 3D printing in laboratory services to improve efficiency. Geographical expansion into emerging countries through partnerships is another growth strategy adopted by leading players in this market.
Key Features of the Study:
Detailed Segmentation-
Table of Contents
*Browse 28 market data tables and 25 figures on "Office-based Labs Market” -Global forecast to 2031
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize NowWe help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail
Request Discount
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients