Clinical Laboratory Services Market

Clinical Laboratory Services Market by Test Types (Human & Tumor Genetics, Clinical Chemistry, Medical Microbiology & Cytology, and Other Esoteric Tests), Service Providers (Hospital-based Laboratories, Stand-alone Laboratories, and Clinic-based Laboratories), Applications (Bioanalytical & Lab Chemistry Services, Toxicology Testing Services, Cell & Gene Therapy Related Services, Preclinical & Clinical Trials Related Services, Drug Discovery & Development Related Services, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-703
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 3
  • No. Of Pages: 154
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The global clinical laboratory services market size was valued at USD 200.1 billion in 2020 and is estimated to expand at a CAGR of approximately 4.65% during the forecast period, 2021-2028. The growth of the market is attributed to the rising prevalence of diabetes, cancer, respiratory disorders, and other contagious diseases and increase vulnerability of geriatric population to chronic disorders and syndrome.

Clinical Laboratory Services Market Key Takeaways

Clinical laboratory, also known as a medical laboratory, is a place where various tests are performed on clinical samples to gather health information of patients that help identify pathological conditions, diagnosis, treatments, and cure and/or treat of diseases and disorders. These laboratories are operated by medical professionals who have expertise to carry out different tests on biological specimens collected from the patients. Medical technologists engaged in clinical laboratories collect samples of blood, stool, urine, DNA, tissues, and cells examine pathophysiology of diseases to prevent help treat them and prevent epidemics.

Laboratories provide precise test report attributed to technologically improved devices and advance testing kits, which offer reliable result and lessen human mistakes. Clinical laboratory tests are precise procedure to recognize and characterize the various biomarkers of chronic disorders and for the identification of causative agents of infectious diseases. According to the report published by the World Health Organization (WHO) on tuberculosis (TB) in 2018, TB was one of the top 10 causes of death across the globe. It claimed lives of 1.5 million people, while approximately 10 million people suffered from it.

Market Trends, Drivers, Restraints, and Opportunities

  • Development and launch of precision and technologically advanced devices such as diagnostic kit, biochips, microarrays, and enzyme assays owing to rising healthcare awareness and increasing prevalence of chronic diseases among the geriatric population are key factors driving the market.
  • COVID-19 pandemic is expected to fuel the clinical laboratory market due to the increase clinical testing for respiratory diseases, increasing use of enhanced molecular and serological testing method for severe & acute respiratory syndrome-coronavirus-2 (SARS-CoV-2), growing uses reverse transcriptase polymerase chain reaction (RT-PCR) as a diagnostic tool for COVID-19 and genetic sequencing of virus in clinical laboratories, and increasing incidences of chronic disorders and infectious disease.
  • Rising prevalence of diabetes, cancer, respiratory disorders, and other contagious diseases and increasing vulnerability of the geriatric population to chronic disorders and syndrome are anticipated to fuel the market during the forecast period.
  • Lack of facilities and infrastructure, scarcity of expert medical technologists in medical laboratories, and implementation of stringent regulatory issues are expected to restrain the market during the forecast period.
  • Rising health awareness in the people, increasing prevalence of contagious diseases, growing clinical research with technological advancements, and surging R&D investments by key players and governments are estimated to create opportunities in the market during the forecast period.

Scope of the Report

The report on the global clinical laboratory services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Clinical Laboratory Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Test Types (Human & Tumor Genetics, Clinical Chemistry, Medical Microbiology & Cytology, and other Esoteric Tests), Service Providers (Hospital-based Laboratories, Stand-alone Laboratories, and Clinic-based Laboratories), and Applications (Bioanalytical & Lab Chemistry Services, Toxicology Testing Services, Cell & Gene Therapy Related Services, Preclinical & Clinical Trials Related Services, Drug Discovery & Development Related Services, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Qiagen; Quest Diagnostics Inc.; OPKO Health Inc; Abbott laboratories Inc.; Charles River Laboratories International, Inc.; Arup Laboratories; Sonic Healthcare Limited; Laboratory Corporation of America Holdings (LabCorp); NeoGenomics Laboratories, Inc; Fresenius Medical Care AG & Co.; DaVita Inc.; and Siemens Healthcare GmbH


Global Clinical Laboratory Services Market Segment Insights

Clinical chemistry segment is expected to grow at a rapid pace
Based on test types, the global clinical laboratory services market is divided into human & tumor genetics, clinical chemistry, medical microbiology & cytology, and other esoteric tests. The clinical chemistry segment held a major share of the market, in terms of revenue, in 2020 and this trend is anticipated to continue in the coming years. The presence of various clinical chemistry tests methods, development of advanced technology, diverse sampling procedures, and advent of point-of-care testing procedures are anticipated to fuel the segment during the forecast period. In February 2020, Ortho Clinical Diagnostics introduced a clinical chemistry technology that concluded desegregated Vitros XT line, which was developed to perform mostly all types of laboratory tests. However, the human & tumor genetics segment is anticipated to expand at a rapid pace during the forecast period owing to rising demand for early stage cancer diagnosis, as a result of increasing prevalence of cancer. In 2017, the US Food & Drug Administration (USFDA) approved FoundationOne CD, a genomic test employed for detection of cancer-associated 324 genes in solid tumor. Furthermore, rising demand for proficient tests in early stage cancer diagnosis and major infectious diseases is expected to drive the segment, as genetic tests offer precise and accurate results.

Hospital-based laboratories segment is expected to represent a key share
On the basis of service providers, the global clinical laboratory services market is classified as hospital-based laboratories, stand-alone laboratories, and clinic-based laboratories. The hospital-based laboratories segment constituted a major share of the market, in terms of revenue, in 2020 and is estimated to continue to dominant share of the market a large number of patients are getting tested for chronic disorders. The stand-alone laboratories segment is anticipated to grow at a rapid pace during the forecast period due to rising patient preference for stand-alone diagnostic facilities.

Bioanalytical & lab chemistry segment accounts for large market share
In terms of applications, the market is classified as bioanalytical & lab chemistry services, toxicology testing services, cell & gene therapy related services, preclinical & clinical trials related services, drug discovery & development related services, and others. The bioanalytical & lab chemistry services segment accounted for dominant market share in 2020 and is expected to represent major share of the market from 2021 to 2028. The growth of market can be attributed to rising number of novel molecule for clinical trials. Technologies such as chromatography, mass spectroscopy, immunochemistry, molecular & serological biological testing, ELISA, and SDS-PAGE are techniques that are expected to boost the segment during the forecast period.

Clinical Laboratory Services Market By Applications

The market in Asia Pacific to grow at a rapid pace
In terms of regions, the global clinical laboratory services market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period due to rising research & development activities in medical sciences and increasing economic growth in the region. However, North America accounted for a key share of the global clinical laboratory market, in terms of revenue generation, in 2020.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Clinical Laboratory Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Clinical Laboratory Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Clinical Laboratory Services Market - Supply Chain
  4.5. Global Clinical Laboratory Services Market Forecast
     4.5.1. Clinical Laboratory Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Clinical Laboratory Services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Clinical Laboratory Services Market Absolute $ Opportunity
5. Global Clinical Laboratory Services Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Clinical Laboratory Services Market Size and Volume Forecast by Applications
     5.3.1. Bioanalytical & Lab Chemistry Services
     5.3.2. Toxicology Testing Services
     5.3.3. Cell & Gene Therapy Related Services
     5.3.4. Preclinical & Clinical Trial Related Services
     5.3.5. Drug Discovery & Developments Related Services
     5.3.6. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Clinical Laboratory Services Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Clinical Laboratory Services Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Clinical Laboratory Services Demand Share Forecast, 2019-2026
7. North America Clinical Laboratory Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Clinical Laboratory Services Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Clinical Laboratory Services Market Size and Volume Forecast by Applications
     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 & Developments Related Services
     7.4.6. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Clinical Laboratory Services Demand Share Forecast, 2019-2026
8. Latin America Clinical Laboratory Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Clinical Laboratory Services Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Clinical Laboratory Services Market Size and Volume Forecast by Applications
     8.4.1. Bioanalytical & Lab Chemistry Services
     8.4.2. Toxicology Testing Services
     8.4.3. Cell & Gene Therapy Related Services
     8.4.4. Preclinical & Clinical Trial Related Services
     8.4.5. Drug Discovery & Developments Related Services
     8.4.6. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Clinical Laboratory Services Demand Share Forecast, 2019-2026
9. Europe Clinical Laboratory Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Clinical Laboratory Services Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Clinical Laboratory Services Market Size and Volume Forecast by Applications
     9.4.1. Bioanalytical & Lab Chemistry Services
     9.4.2. Toxicology Testing Services
     9.4.3. Cell & Gene Therapy Related Services
     9.4.4. Preclinical & Clinical Trial Related Services
     9.4.5. Drug Discovery & Developments Related Services
     9.4.6. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Clinical Laboratory Services Demand Share Forecast, 2019-2026
10. Asia Pacific Clinical Laboratory Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Clinical Laboratory Services Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Clinical Laboratory Services Market Size and Volume Forecast by Applications
     10.4.1. Bioanalytical & Lab Chemistry Services
     10.4.2. Toxicology Testing Services
     10.4.3. Cell & Gene Therapy Related Services
     10.4.4. Preclinical & Clinical Trial Related Services
     10.4.5. Drug Discovery & Developments Related Services
     10.4.6. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Clinical Laboratory Services Demand Share Forecast, 2019-2026
11. Middle East & Africa Clinical Laboratory Services Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Clinical Laboratory Services Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Clinical Laboratory Services Market Size and Volume Forecast by Applications
     11.4.1. Bioanalytical & Lab Chemistry Services
     11.4.2. Toxicology Testing Services
     11.4.3. Cell & Gene Therapy Related Services
     11.4.4. Preclinical & Clinical Trial Related Services
     11.4.5. Drug Discovery & Developments Related Services
     11.4.6. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Clinical Laboratory Services Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Clinical Laboratory Services Market: Market Share Analysis
  12.2. Clinical Laboratory Services Distributors and Customers
  12.3. Clinical Laboratory Services Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Qiagen
     12.4.2. Quest Diagnostics Inc.
     12.4.3. OPKO Health Inc.
     12.4.4. Abbott laboratories Inc.
     12.4.5. Charles River Laboratories International, Inc.
     12.4.6. Arup Laboratories
     12.4.7. Sonic Healthcare Limited
     12.4.8. Laboratory Corporation of America Holdings (LabCorp)
     12.4.9. NeoGenomics Laboratories, Inc.
     12.4.10. Fresenius Medical Care AG
Segments Covered in the Report
The global clinical laboratory services market has been segmented on the basis of

Test Types
  • Human & Tumor Genetics
  • Clinical Chemistry
  • Medical Microbiology & Cytology
  • Other Esoteric Tests
Service Providers
  • Hospital-based Laboratories
  • Stand-alone Laboratories
  • Clinic-based Laboratories
Applications
  • Bioanalytical & Lab Chemistry Services
  • Toxicology Testing Services
  • Cell & Gene Therapy Related Services
  • Preclinical & Clinical Trial Related Services
  • Drug Discovery & Developments Related Services
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Qiagen
  • Quest Diagnostics Inc.
  • OPKO Health Inc.
  • Abbott laboratories Inc.
  • Charles River Laboratories International, Inc.
  • Arup Laboratories
  • Sonic Healthcare Limited
  • Laboratory Corporation of America Holdings (LabCorp)
  • NeoGenomics Laboratories, Inc.
  • Fresenius Medical Care AG & Co.

Key players in the market include Qiagen; Quest Diagnostics Inc.; OPKO Health Inc; Abbott laboratories Inc.; Charles River Laboratories International, Inc.; Arup Laboratories; Sonic Healthcare Limited; Laboratory Corporation of America Holdings (LabCorp); NeoGenomics Laboratories, Inc; Fresenius Medical Care AG & Co.; DaVita Inc.; and Siemens Healthcare GmbH. Many of these players are actively investing in research to develop technologies which can help in early diagnosis of diseases, especially cancer. Several players are actively engaged in various market strategies such as mergers, product launches, acquisitions, and expansion of production capacity to increase their market position and expand their customer base.

In November 2020, Co-Diagnostics, Inc. announced to increase production and deliver saragene COVID-19 RT-PCR test in collaboration with CoSara Diagnostics Pvt. Ltd.

 Clinical Laboratory Services Market By Key Players

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