Extensive Clinical Trials to Boost the Clinical Laboratory Services Market Growth

Market Analytics:

MRFR forecasts that the global Clinical Laboratory Services Market to demonstrate a brilliant growth owing to surge in the number of clinical trials. As per the MRFR report, between 2018 and 2023 the global clinical laboratory services market is envisaged to surpass a substantial valuation of USD 274,400 million.

The increase in cases of clinical trials to spur the clinical laboratory services market over the review period. The growing cases of chronic disorders and increase in the geriatric populace are triggering the enormous clinical research and developmental activities. The need for effective treatment and launching of pipeline drugs can also prompt the clinical laboratory services. The growing cases of cancer, diabetes, liver dysfunction, kidney failure, and others are expected to spur the clinical laboratory services market.

Key Players

·         Bio-Reference Laboratories

·         Clinical Reference Laboratory

·         Laboratory Corporation of America Holdings

·         Spectra Laboratories Inc

·         Lifelabs Medicals Laboratories

·         Cerba Healthcare

·         Quest Diagnostics Incorporated

·         ACM Medical Laboratory

·         Mayo Medical Laboratories

Segmental Analysis

·         The global clinical laboratory services market study has been segmented based on application and type.

·         On the basis of type, the clinical laboratory services market has been segmented into microbiology, biochemistry, histopathology, endocrinology, cytology, genetic testing, hematology, and others. The hematology segment can exhibit highest growth in the coming years owing to the increasing cases of leukaemia, urging intensive clinical activities for developing effective treatment. wide range of diagnostic solutions that demand for plethoric chemistry testing. Moreover, continuous technical advancements are reinforcing genetic experimentations. Hence, likely to bolster the market growth.

·         On the basis of application, the market has been segmented into hospital laboratory, independent, laboratory, and reference laboratory.

Regional Outlook

By region, the clinical laboratory services market has been studied across the Americas, Asia Pacific, Europe, and the Middle East & Africa.

North America to lead the global clinical laboratory services market. The existence of top-notch companies and their intention in developing advanced hence, effective globally diagnostics and treatments are reinforcing the regional market growth.  

The European market to secure the second position in terms of market growth, globally. The high prevalence of malaises bothering people in enjoying a healthy lifestyle can boom the    regional market growth. Europe to register a moderate CAGR and demonstrate a substantial growth for the market, over the assessment period.

The firm healthcare infrastructure in the Asia Pacific region is likely to bolster the clinical laboratory services market growth in the region.