Clinical Laboratory Services Market, by Test Type (Clinical Chemistry, Medical Microbiology & Cytology, Human & Tumor Genetics, and Other Esoteric Tests), by Service Provider (Clinic-based, Hospital-based, and Standalone), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  • Published On : Oct 2019 |
  • Pages : 168 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Clinical Laboratory Services Market– Market Insights

Clinical laboratories are an integral part of healthcare industry. All diagnostic tests, which range from blood test to genetic analysis, are performed in these clinical laboratories to diagnose different diseases. Around 70% of medical decisions are based on lab results, as revealed by statistic released by Quest Diagnostics in 2014. Thus, optimization of laboratory facilities to deliver quality and cost-effective patient care is of utmost importance for clinical laboratory service providers. Major factors impacting the dynamics of global clinical laboratory services market include growing geriatric population, increasing burden of disease patients and increasing number of preventive health check-ups.

Furthermore, implementation of automated solutions in clinical workflows enables processing of larger samples per unit of time, which further enhances the productivity while minimizing human errors and labor costs. Integration of automated data management solutions enables seamless operations, thereby driving the market growth. According to press release from May 2019, ACON Laboratories, Inc., announced the release of On Call Sure Platform in Europe and Latin America. The On Call Sure Platform is designed to meet the demands of professional testing. Its GDH-FAD enzyme offers the ability to test capillary for venous and arterial blood samples.

The global clinical laboratory services market size was valued at US$ 206.8 billion in 2018 and is expected to exhibit a CAGR of 7.3% over the forecast period (2019–2027).

Figure 1. Global Clinical Laboratory Services Market Value (US$ Bn), by Region, 2018

Clinical Laboratory Services  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Increase in incidence rate of diabetes, cancer, respiratory diseases, and other infectious disease conditions is expected drive growth of global clinical laboratory services market.

Increasing incidences of diseases such as diabetes, cancer, respiratory diseases is expected to drive growth of the global clinical laboratory services market. According to the International Federation of Diabetes, 2017 report, around 425 million adults were suffering from diabetes and the number is expected to reach 629 million by 2045 globally.

According to press release from September 2018 by the International Agency for Research on Cancer, the global cancer burden is estimated to have 18.1 million new cases and 9.6 million deaths in 2018.

According to International Agency for Research on Cancer 2018 report, one in 5 men and one in 6 women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from the disease.

According to the World Health Organization 2017 statistics, globally, it is estimated that there were 3.17 million incidences of chronic obstructive pulmonary disease (COPD) in 2015.  Moreover, according to the World Health Organization, 2017, over 90% of COPD incidences occurred in low and middle income countries.

However, major restraining factors for global clinical laboratory services market are lack of skilled professionals and inadequate reimbursements. Moreover, the product recall by manufacturers in the market is the biggest factor hindering growth of the market. According to press release from June 2019, Premier Pharmacy Labs issued voluntary nationwide recall for all unexpired sterile drug product lots, due to lack of sterility assurance, after inspected by the U.S. Food and Drug Administration.

Figure 2. Global Clinical Laboratory Services Market Share (%), by Test Type

Clinical Laboratory Services  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Rising susceptibility of geriatric population to chronic diseases is expected to drive growth of the market.

Growing geriatric population base will also have a positive impact on the market development. According to the World Population Prospects by the United Nations (UN), the global geriatric population is expected to double by 2050, rising from 962 million in 2017 to 2.1 billion in 2050. Moreover, according to the U.S. Census Bureau report 2017, geriatric population is expected to be significantly higher in emerging economies such as Asia Pacific and Latin America as compared to other developed countries.

Furthermore, strategic collaboration between market players and new product launches along with increased focus on research and development are other factors driving growth of the global clinical laboratory services market. According to press release from June 2018, Laboratory Corporation of America Holdings (Labcorp) and Philips, Inc., collaborated on digital pathology to enhance the efficiency of pathology diagnostics.

According to press release from January 2019, Abbott's Alinity was launched. Alinity is a state-of-the-art technology poised to reinvent clinical lab diagnostics as it's a harmonized family of systems for clinical diagnostics.

Moreover, in November 2017, Genomic Health and Cleveland Diagnostics collaborated to develop and commercialize new prostate cancer tests.

Key Players

Major players operating in the global clinical laboratory services market include Abbott Laboratories, Laboratory Corporation of America Holdings (Labcorp), Bio-Reference Laboratories, ARUP Laboratories, Charles River Laboratories, Labco S.A., Genoptix Medical Laboratory, Quest Diagnostics, Inc., Healthscope Ltd., Spectra Laboratories, Sonic Healthcare Limited, and Others.

Clinical laboratory test plays an important role in prevention, diagnosis, and effective management of diseases. The tests conducted at clinical laboratories enable identification of the epidemiology of disease, the resultant abnormalities, level of progression (stage) of the disease, and imbalances in the physiology. With growing competition, clinical laboratories are providing additional services such as free-home pick-up of the blood and urine sample, sharing medical reports directly with the concerned physician, and regular updates/reminders for health check-up. The clinical test equipment manufacturers such as Quest Diagnostics, Inc. and Abbott Laboratories are constantly working on improving their laboratory products to shorten the duration of test and increase product efficiency. This enables effective management of clinical laboratories.

Market Dynamics

Technological innovations and developments in clinical laboratory testing is contributing to the market growth. For instance, in August 2019, Sysmex Corporation launched its Sample Preparation System PS-10 in North America, a new product providing workflows, which are more efficient and aid in standardizing clinical flow of cytometry testing. Moreover, in October 2018, Myriad Genetics received the U.S. Food and Drug Administration (FDA) approval for BRAC Analysis Companion diagnostics (CDx), which is used to identify patients affected with HER2- negative metastatic breast cancer.

Key features of the study:

  • This report provides in-depth analysis of the global clinical laboratory services market and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global clinical laboratory services market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Abbott Laboratories, Laboratory Corporation of America Holdings (Labcorp), Bio-Reference Laboratories, ARUP Laboratories, Charles River Laboratories, Labco S.A., Genoptix Medical Laboratory, Quest Diagnostics, Inc., Healthscope Ltd., Spectra Laboratories, Sonic Healthcare Limited and Others
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global clinical laboratory services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global clinical laboratory services market

Detailed Segmentation:

  • Global Clinical Laboratory Services Market, By Test Type:
    • Clinical Chemistry
    • Medical Microbiology and Cytology
    • Human & Tumor Genetics
    • Other Esoteric Tests
  • Global Clinical Laboratory Services Market, By Service Provider:
    • Clinic-based
    • Hospital-based
    • Standalone
  • Global Clinical Laboratory Services Market, By Region:
    • North America
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology and Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Service Provider:
        • Clinic-based
        • Hospital-based
        • Standalone
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology and Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Service Provider:
        • Clinic-based
        • Hospital-based
        • Standalone
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology and Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Service Provider:
        • Clinic-based
        • Hospital-based
        • Standalone
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
    • Asia Pacific
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology and Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Service Provider:
        • Clinic-based
        • Hospital-based
        • Standalone
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology and Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Service Provider:
        • Clinic-based
        • Hospital-based
        • Standalone
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology and Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Service Provider:
        • Clinic-based
        • Hospital-based
        • Standalone
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Abbott Laboratories*
      • Company Overview
      • Material Portfolio
      • Financial Performance
      • Key Highlights
    • Laboratory Corporation of America Holdings (Labcorp) Johnson & Johnson
    • Bio-Reference Laboratories
    • ARUP Laboratories
    • Charles River Laboratories
    • LabcoA.
    • Genoptix Medical Laboratory
    • Quest Diagnostics, Inc.
    • Healthscope
    • Sonic Healthcare Limited
    • Spectra Laboratories

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Test Type
      • Market Snippet, By Service Provider
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Key Developments
    • Regulatory Scenario
    • Merger and Acquisition Scenario
    • PEST Analysis
  4. Global Clinical Laboratory Services Market, By Test Type, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Clinical Chemistry
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Medical Microbiology and Cytology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Human & Tumor Genetics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Other Esoteric Tests
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Clinical Laboratory Services Market, By Service Provider, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Clinic-based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Hospital-based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Standalone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Clinical Laboratory Services Market, By Region, 2016 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2027
    • North America
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Service Provider, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Service Provider, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Service Provider, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Service Provider, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Service Provider, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Service Provider, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
      • Abbott Laboratories*
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Laboratory Corporation of America Holdings (Labcorp) Johnson & Johnson
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Bio-Reference Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • ARUP Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Charles River Laboratoires
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      •  LabcoA.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Genoptix Medical Laboratory
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Quest Diagnostics, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Healthscope
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sonic Healthcare Limited
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Spectra Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse 30 market data tables and 26 figures on "Clinical Laboratory Services Market” - Global forecast to 2027.

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