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Global Clinical Laboratory Service Market Size Study & Forecast, By Test Type By Service Provider, By Application and Regional Analysis, 2023-2030
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Global Clinical Laboratory Service Market is valued at approximately USD 225.35 billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Clinical laboratory services encompass a broad range of diagnostic and testing procedures performed on clinical specimens, such as blood, urine, tissue samples, and other bodily fluids, to aid in the diagnosis, monitoring, and treatment of diseases and medical conditions. These services are provided by clinical laboratories, which may be part of hospitals, healthcare facilities, independent diagnostic laboratories, or reference laboratories. Clinical laboratory testing plays a critical role in healthcare by providing healthcare providers with essential information for patient care, including identifying the presence of pathogens, measuring levels of biomarkers or analytes, assessing organ function, monitoring treatment effectiveness, and detecting genetic abnormalities. The Clinical Laboratory Service market is expanding because of factors such as the increasing prevalence of chronic and infectious diseases, growing emphasis on personalized medicine, and rising healthcare expenditure.
The market is driven by a surge in chronic and infectious diseases and an escalating need for precise and early disease detection techniques. The global burden of infectious diseases and chronic conditions is on the rise, amplifying demand for clinical diagnostic tests as a reliable means to identify and delineate various biomarkers associated with chronic ailments and microbial pathogens. This demand intensifies in tandem with the mounting prevalence of diseases like cancer and tuberculosis (TB). For example, recent data from the World Health Organization (WHO) reveals a staggering global tuberculosis prevalence, with approximately 10 million individuals affected as of 2021, encompassing 5.6 million men, 3.3 million women, and 1.1 million children. The persistent high prevalence of such diseases is anticipated to drive an upsurge in demand for clinical services, thereby fostering market growth. Moreover, the escalating burden of cancer is projected to further propel the need for clinical diagnostics. As evidenced by the Globocan Statistics 2020, there were 19.3 million new cancer cases recorded worldwide, encompassing both genders, with the incidence of cancer rapidly escalating on a global scale. Projections indicate that the number of new cancer cases across genders will soar to an estimated 30.2 million by the year 2040. In addition, rising technological advancement in clinical testing and a growing number of geographical expansion strategies are creating new opportunities for market growth. However, stringent regulatory requirements and standards and the growing popularity of point-of-care testing (POCT) devices stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Clinical Laboratory Service Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing high prevalence of chronic diseases, a well-established healthcare infrastructure, and a growing geriatric population. The region benefits from a robust healthcare system and a comprehensive reimbursement framework for clinical laboratory services. Additionally, the attractiveness of the business has led to the entry of new players into the market. For example, in February 2023, Dutch biotech company Detact Diagnostics announced the establishment of a new laboratory at Keene State College (U.S.) under a 2-year rental contract. Furthermore, Asia Pacific is expected to grow at the fastest rate during the forecast period, primarily attributed to the rise in scientific research, addressing unmet medical needs, economic expansion, and enhancements in healthcare infrastructure and regulatory frameworks. Moreover, increasing public awareness and the accessibility of advanced medical treatments are expected to further drive growth in the region. The significance of clinical laboratory services has been magnified during the COVID-19 pandemic, given the heightened demand for testing. Major industry players are strategically partnering to introduce innovative laboratory testing services to meet evolving market needs in the Asia Pacific region.
Major market players included in this report are:
- Laboratory Corporation of America Holdings (LabCorp)
- QIAGEN NV
- Eurofins Scientific SE
- Quest Diagnostics Incorporated
- OPKO Health, Inc.
- Siemens Medical Solutions USA, Inc.
- NeoGenomics Laboratories
- Fresenius Medical Care
- ARUP Laboratories
- Sonic Healthcare
Recent Developments in the Market:
- In August 2023, Laboratory Corporation of America Holdings (Labcorp) finalized an agreement with Tufts Medicine to acquire Tufts Medicine Outreach Laboratory Business. This acquisition aims to broaden Labcorp's diagnostic testing and laboratory services offerings.
- In February 2023, Dutch biotech company Detact Diagnostics disclosed plans to establish a new laboratory at Keene State College (U.S.) through a two-year rental agreement.
Global Clinical Laboratory Service Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Test Type, Service Provider, Application, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Test Type:
- Genetic Testing
- Clinical Chemistry
- Medical Microbiology Testing
- Hematology Testing
- Immunology Testing
- Cytology Testing
- Drug of Abuse Testing
- Other Esoteric Tests
By Service Provider:
- Hospital-based Laboratories
- Stand-alone Laboratories
- Clinic-based Laboratories
By Application:
- Bioanalytical & Lab Chemistry Services
- Toxicology Testing Services
- Cell & Gene Therapy Related Services
- Preclinical & Clinical Trial Related Services
- Drug Discovery & Development Related Services
- Other Clinical Laboratory Services
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Clinical Laboratory Service Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Clinical Laboratory Service Market, by Test Type, 2020-2030 (USD Billion)
- 1.2.3.Clinical Laboratory Service Market, by Service Provider, 2020-2030 (USD Billion)
- 1.2.4.Clinical Laboratory Service Market, by Application, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Clinical Laboratory Service Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Clinical Laboratory Service Market Dynamics
- 3.1.Clinical Laboratory Service Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Increasing Prevalence of Chronic and Infectious Diseases
- 3.1.1.2.Growing Emphasis on Personalized Medicine
- 3.1.1.3.Rising Healthcare Expenditure
- 3.1.2.Market Challenges
- 3.1.2.1.Stringent Regulatory Requirements and Standards
- 3.1.2.2.Growing Popularity of Point-Of-Care Testing (POCT) Devices
- 3.1.3.Market Opportunities
- 3.1.3.1.Rising Technological Advancement in Clinical Testing
- 3.1.3.2. Growing Number of Geographical Expansion Strategies
Chapter 4.Global Clinical Laboratory Service Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Clinical Laboratory Service Market, by Test Type
- 5.1.Market Snapshot
- 5.2.Global Clinical Laboratory Service Market by Test Type, Performance - Potential Analysis
- 5.3.Global Clinical Laboratory Service Market Estimates & Forecasts by Test Type 2020-2030 (USD Billion)
- 5.4.Clinical Laboratory Service Market, Sub Segment Analysis
- 5.4.1. Genetic Testing
- 5.4.2.Clinical Chemistry
- 5.4.3.Medical Microbiology Testing
- 5.4.4.Hematology Testing
- 5.4.5.Immunology Testing
- 5.4.6.Cytology Testing
- 5.4.7.Drug of Abuse Testing
- 5.4.8.Other Esoteric Tests
Chapter 6.Global Clinical Laboratory Service Market, by Service Provider
- 6.1.Market Snapshot
- 6.2.Global Clinical Laboratory Service Market by Service Provider, Performance - Potential Analysis
- 6.3.Global Clinical Laboratory Service Market Estimates & Forecasts by Service Provider 2020-2030 (USD Billion)
- 6.4.Clinical Laboratory Service Market, Sub Segment Analysis
- 6.4.1. Hospital-based Laboratories
- 6.4.2.Stand-alone Laboratories
- 6.4.3.Clinic-based Laboratories
Chapter 7.Global Clinical Laboratory Service Market, by Application
- 7.1.Market Snapshot
- 7.2.Global Clinical Laboratory Service Market by Application, Performance - Potential Analysis
- 7.3.Global Clinical Laboratory Service Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4.Clinical Laboratory Service Market, Sub Segment Analysis
- 7.4.1. Bioanalytical & Lab Chemistry Services
- 7.4.2.Toxicology Testing Services
- 7.4.3.Cell & Gene Therapy Related Services
- 7.4.4.Preclinical & Clinical Trial Related Services
- 7.4.5.Drug Discovery & Development Related Services
- 7.4.6.Other Clinical Laboratory Services
Chapter 8.Global Clinical Laboratory Service Market, Regional Analysis
- 8.1.Top Leading Countries
- 8.2.Top Emerging Countries
- 8.3.Clinical Laboratory Service Market, Regional Market Snapshot
- 8.4.North America Clinical Laboratory Service Market
- 8.4.1.U.S. Clinical Laboratory Service Market
- 8.4.1.1.Test Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2.Service Provider breakdown estimates & forecasts, 2020-2030
- 8.4.1.3.Application breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Clinical Laboratory Service Market
- 8.5.Europe Clinical Laboratory Service Market Snapshot
- 8.5.1.U.K. Clinical Laboratory Service Market
- 8.5.2.Germany Clinical Laboratory Service Market
- 8.5.3.France Clinical Laboratory Service Market
- 8.5.4.Spain Clinical Laboratory Service Market
- 8.5.5.Italy Clinical Laboratory Service Market
- 8.5.6.Rest of Europe Clinical Laboratory Service Market
- 8.6.Asia-Pacific Clinical Laboratory Service Market Snapshot
- 8.6.1.China Clinical Laboratory Service Market
- 8.6.2.India Clinical Laboratory Service Market
- 8.6.3.Japan Clinical Laboratory Service Market
- 8.6.4.Australia Clinical Laboratory Service Market
- 8.6.5.South Korea Clinical Laboratory Service Market
- 8.6.6.Rest of Asia Pacific Clinical Laboratory Service Market
- 8.7.Latin America Clinical Laboratory Service Market Snapshot
- 8.7.1.Brazil Clinical Laboratory Service Market
- 8.7.2.Mexico Clinical Laboratory Service Market
- 8.8.Middle East & Africa Clinical Laboratory Service Market
- 8.8.1.Saudi Arabia Clinical Laboratory Service Market
- 8.8.2.South Africa Clinical Laboratory Service Market
- 8.8.3.Rest of Middle East & Africa Clinical Laboratory Service Market
Chapter 9.Competitive Intelligence
- 9.1.Key Company SWOT Analysis
- 9.2.Top Market Strategies
- 9.3.Company Profiles
- 9.3.1. Laboratory Corporation of America Holdings (LabCorp)
- 9.3.1.1.Key Information
- 9.3.1.2.Overview
- 9.3.1.3.Financial (Subject to Data Availability)
- 9.3.1.4.Product Summary
- 9.3.1.5.Recent Developments
- 9.3.2. QIAGEN NV
- 9.3.3.Eurofins Scientific SE
- 9.3.4.Quest Diagnostics Incorporated
- 9.3.5.OPKO Health, Inc.
- 9.3.6.Siemens Medical Solutions USA, Inc.
- 9.3.7.NeoGenomics Laboratories
- 9.3.8.Fresenius Medical Care
- 9.3.9.ARUP Laboratories
- 9.3.10.Sonic Healthcare
Chapter 10.Research Process
- 10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
- 10.2.Research Attributes
- 10.3.Research Assumption
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