Leading Market Players
Notable players profiled in the clinical laboratory services market report include Adicon Clinical Laboratory (China), Sonic Healthcare (UK), Unilabs (Switzerland), Eurofins Scientific (Luxembourg), Synlab International (Germany), Amedes Holdings (Germany), Cerba Healthcare Quest Diagnostics Incorporated (France), Lifelabs Medicals Laboratories (Canada), ACM Medical Laboratory (US), Clinical Reference Laboratory (US), Bio-Reference Laboratories (US), Mayo Medical Laboratories (US), Spectra Laboratories Inc (US), and Laboratory Corporation of America Holdings (US).
The clinical laboratory services market is anticipated to touch USD 274,400 million at a favorable CAGR between 2018-2023, states the latest Market Research Future (MRFR) report. Clinical laboratory services are healthcare facilities that offer an array of laboratory procedures that help physicians to perform the diagnosis, management, and treatment of patients. Such clinical laboratories are manned by clinical laboratory scientists/medical technologists that are highly trained in performing various tests.
Various factors are propelling the clinical laboratory services market growth. Some of these factors, according to the Market Research Future report, include the growing cases of kidney failure, liver dysfunction, diabetes, and cancer, developments in clinical diagnostic techniques, grants and funding for developing innovating laboratory testing procedures, growing private-public investments, and growing demand for accurate and early disease diagnosis. Additional factors pushing growth of the clinical laboratory services market include the increasing adoption of technologically advanced products namely biochips, companion diagnostics, and microarrays, increasing number of people having neurological and cardiovascular diseases, the growing awareness about early diagnosis of conditions especially in oncology, endocrinology, and gynecology, and benefits that it offers such as minimal stay in the hospital and reduced frequency of visit to the doctor.
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The MRFR report provides an all-inclusive segmental analysis of the clinical laboratory services market on the basis of application and type.
Based on type, the clinical laboratory services market is segmented into genetic testing, cytology, histopathology, microbiology, hematology, endocrinology, biochemistry, and others. Of these, the hematology segment will lead the market during the forecast period. Different factors pushing the growth of this segment include the high prevalence of blood cancer, growing need for chemistry testing, and advancements of technology in genetic testing.
Based on the application, the clinical laboratory services market is segmented into the hospital laboratory, reference laboratory, and independent laboratory. Of these, the hospital laboratory will dominate the market during the forecast period. Different factors pushing the growth of the segment include the increasing incidence of infectious diseases, wide-ranging services offered by hospital laboratories, and the availability of independent laboratories.
October 2019: Cayuga Health System has begun new diabetes and endocrinology program. This program will be conducted through a multidisciplinary team of health educators, nurses, and physicians who will treat endocrine disorders, which cause different effects on the body.
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