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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Clinical laboratories are essentially centers for conducting diagnostic testing services that help in identifying disease causes, level of progression (stage) of the disease, resultant abnormalities and imbalances in the physiology, and other such factors. These tests and services provided by clinical laboratories are recorded in the form of reports that help physicians in determining the best suitable course of treatment for the patient, depending upon various etiologic, demographic and financial factors.

The global clinical laboratory services market is estimated to account for US$ 255.5 billion in 2020 and expected to reach around US$ 381.6 billion by the end of 2027.

Global Clinical Laboratory Services Market: Drivers

High prevalence of chronic diseases is expected to propel growth of the global clinical laboratory services market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, increasing geriatric population is also expected to aid in growth of the global clinical laboratory services market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.       

North America held dominant position in the global clinical laboratory services market in 2019, accounting for 43.70% share in terms of volume, followed by Europe and Asia pacific, respectively.

Fig no.1. Global Clinical Laboratory Services Market, Regional Market Share Analysis, (%) 2020

Clinical Laboratory Services  | Coherent Market Insights

Global Clinical Laboratory Services Market: Restraints

Stringent and changing regulatory scenario is expected to hinder growth of the global clinical laboratory services market. The U.S. FDA that controls the approval and commercialization of medical devices in the country has claimed its control over laboratory developed tests (LDTs) as well, although there has been no enforcement exercised by the FDA to require laboratories to comply with its regulations.

Moreover, clinical laboratories in developing countries suffer inadvertent neglect and are not well-supported to ensure accurate diagnosis. Such scenario is also expected to aid in growth of the market.

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Clinical Laboratory Services Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 255.5 Bn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.9% 2027 Value Projection: US$ 381.6 Bn
Geographies covered:
  • North America: U.S. and Canada.
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe.
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific.
  • Rest of world: GCC, Israel, Rest of Middle East.
Segments covered:
  • By Test Type: Clinical Chemistry, Medical Microbiology & Cytology, Human & Tumor Genetics, Other Esoteric Tests.
  • By Type of lab: Clinic-based, Hospital-based, Stand-alone.
Companies covered:

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, and Sonic Healthcare Limited.

Growth Drivers:
  • High prevalence of chronic diseases is expected to propel growth of the global clinical laboratory services market.
Restraints & Challenges:
  • Stringent and changing regulatory scenario

Global Clinical Laboratory Services Market: Opportunities 

Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the global clinical laboratory services market. For instance, globally, as of 1:08pm CEST, 20 September 2020, there have been 30,675,675 confirmed cases of COVID-19, including 954,417 deaths, reported to the World Health Organization.

Moreover, implementation of automated solutions in clinical workflows is also expected to offer lucrative growth opportunities for players in the global clinical laboratory services market. 

Fig2. Global Clinical Laboratory Services Market Value (US$ Bn) & Y-o-Y Growth (%), 2017-2027

Clinical Laboratory Services  | Coherent Market Insights

Market Trends/Key Takeaways

Major players in the global clinical laboratory services market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in June 2018, Laboratory Corporation of America Holdings (Labcorp) and Philips, Inc. collaborated on digital pathology to enhance the efficiency of pathology diagnostics.

Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in January 2019, Abbott Laboratories launched Alinity, a state-of-the-art technology poised to reinvent clinical lab diagnostics as it's a harmonized family of systems for clinical diagnostics.

Global Clinical Laboratory Services Market: Competitive Landscape

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, and Sonic Healthcare Limited.

Global Clinical Laboratory Services Market: Key Developments

Major players in the global clinical laboratory services market are focused on launching new products to expand their product portfolio. For instance, in May 2018, Alere, Inc., a laboratory service company, launched AFINIONTM 2 analyzer in the U.S, a rapid test system for diabetes management.

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.

Key features of the study:

  • This report provides in-depth analysis of the global clinical laboratory services market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 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 strategy 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, and Sonic Healthcare Limited.
  • 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 & Cytology
    • Human & Tumor Genetics
    • Other Esoteric Tests
  • Global Clinical Laboratory Services Market, By Type of lab:
    • Clinic-based
    • Hospital-based
    • Stand-alone
  • Global Clinical Laboratory Services Market, By Region:
    • North America
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology & Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Type of Lab:
        • Clinic-based
        • Hospital-based
        • Stand-alone
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology & Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Type of Lab:
        • Clinic-based
        • Hospital-based
        • Stand-alone
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology & Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Type of Lab:
        • Clinic-based
        • Hospital-based
        • Stand-alone
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology & Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Type of Lab:
        • Clinic-based
        • Hospital-based
        • Stand-alone
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology & Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Type of Lab:
        • Clinic-based
        • Hospital-based
        • Stand-alone
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Test Type:
        • Clinical Chemistry
        • Medical Microbiology & Cytology
        • Human & Tumor Genetics
        • Other Esoteric Tests
      • By Type of Lab:
        • Clinic-based
        • Hospital-based
        • Stand-alone
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Abbott Laboratories *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • 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
  • “*” 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 Type of lab
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
    • COVID19 Impact on Market
  4. Global Clinical Laboratory Services Market, By Test Type, 2020 – 2027, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2020 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$ Bn)
    • Medical Microbiology & Cytology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
    • Human & Tumor Genetics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
    • Other Esoteric Tests
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
  5. Global Clinical Laboratory Services Market, Type of lab, 2020 – 2027, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2020 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$ Bn)
    • Hospital-based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
    • Stand-alone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
  6. Global Clinical Laboratory Services Market, By Region, 2020 – 2027, (US$ Bn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Type of lab, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Type of lab, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Type of lab, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Type of lab, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Type of lab, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Test Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Type of lab, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Laboratory Corporation of America Holdings (Labcorp)
        • 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 Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Labco S.A.
        • 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 Ltd.,
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Spectra Laboratories,
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sonic Healthcare Limited.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 23 market data tables and 19 figures on “Clinical Laboratory Services - Global forecast to 2027”.

Frequently Asked Questions

The Global Clinical Laboratory Services Market is expected to register a CAGR of 5.9% during the forecast period (2020-2027).
The market value of the Global Clinical Laboratory Services Market is estimated to be US$ 255.5 million in 2020.
The prominent players in the Global Clinical Laboratory Services Market are • 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, and Sonic Healthcare Limited.
The global clinical laboratory services market is expected to be valued at US$ 381.6 billion in 2027.
North America is a major region in the global angiostomy cannula market.
High prevalence of chronic diseases is expected to propel growth of the global clinical laboratory services market during the forecast period.
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