Clinical Laboratory Tests Market is Expected to Reach USD 399819.07 Million by 2029

PRESS RELEASE
Published July 21, 2023

Global Clinical Laboratory Tests Market research report includes historic data, present and future market trends, environment, technological innovation, upcoming technologies and the technical progress in the allied industry. This market report contains extensive study about miscellaneous market segments and regions, emerging trends, major market drivers, challenges and opportunities in the market. The report has been generated with the comprehensive market insights and analysis that offers superior perspective of the marketplace. Market segmentation has also been carried out extensively in Global Clinical Laboratory Tests Market business report based on a variety of parameters that include applications, verticals, deployment model, end user, and geography.

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Data Bridge Market Research analyses that the clinical laboratory tests market which was USD 206,645.00 million in 2021, is expected to reach USD 399819.07 million by 2029, at a CAGR of 8.6% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Market Definition

Clinical laboratory test results are used in diagnostic decision making as part of clinical medicine. Clinical laboratory tests are classified into three types. The US Food and Drug Administration (FDA) determines the testing categories of tests that have been cleared for clinical use using a scoring system that considers the complexity of the testing, the stability of calibrators, controls, pre-analytical steps required, and the need for result interpretation. The test samples are analysed by a technician or your doctor to see if your results are within the normal range. Clinical laboratories are medical services that offer a wide range of research techniques to help doctors with diagnosis, therapeutic interventions, and patient supervision. These labs are run by medical technologists (clinical laboratory physicists), who are qualified to conduct experiments on collections of biological samples obtained from their patients. The vast majority of clinical labs are housed within or near medical facilities, making them accessible to both doctors and patients. Clinical laboratory classifications show that these facilities can include high-quality laboratory experiments required to meet clinical and public health demands.

Drivers

  • Growing geriatric population will bolster the growth rate

The growing geriatric population is expected to drive the overall clinical laboratory test market. According to the World Population Prospects: the 2019 Revision data, approximately one in every eleven people in the world were over the age of 65 in 2019, and by 2050, it is estimated that approximately one in every six people will be over the age of 65. Clinical laboratory tests are being used more and more to diagnose age-related diseases.

Furthermore, the rising rate of insufficient exercise, unhealthy food consumption, and the resulting rise in cases of obesity are expected to increase the prevalence of various chronic diseases. The growing awareness of the importance of regular body profiling among healthcare professionals and patients around the world is drive up demand for clinical laboratory tests.

  • Rising prevalence of target diseases

The market is expected to benefit from the rising prevalence of target diseases such as cardiovascular disease and diabetes during the forecast period. Cardiovascular diseases are the leading cause of death worldwide. Demand for point-of-care lipid testing is expected to be driven by unmet medical needs related to cardiovascular diseases and increased patient awareness. The World Health Organization predicts that cardiovascular diseases will be the leading cause of death and morbidity in 2021. In the last three decades, 17.7 million people have died from cardiovascular diseases, accounting for 31% of all fatalities worldwide.

The rising prevalence of lifestyle-related diseases such as obesity, the global smoking trend, and an unhealthy diet are among the factors contributing to the global rise in the incidence of renal and lipid-related disorders. Furthermore, as the global prevalence of diabetes rises, so does the number of patients who require clinical laboratory tests.

Opportunities

  • Innovative solutions in clinical laboratory tests

Innovative solutions for improving efficiency and eliminating errors are expected to be a major rendering driver in this industry. Integrated workflow management systems, database management tools, and patient test records are becoming increasingly important in the healthcare industry, with organisations processing 100 to 150 billion samples per year. The implementation and development of data management and informatics solutions to support smooth operations are expected to drive market growth.

Recent developments

  • In April 2022, Quest Diagnostics, based in Secaucus, New Jersey, has announced a number of organisational changes and senior leadership appointments to better support the company’s two-point business strategy of accelerating growth and driving operational excellence.
  • In April 2022, Abbott has updated its digital health app with its chronic pain neurostimulation devices, making it easier for clinicians to monitor how well patients respond to treatment. While using Abbott’s Proclaim device range for spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy, the Neurosphere myPath app measures and reports patient-perceived pain relief and general well-being.

To Gain More Insights into the Market Analysis, Browse the Summary of the Research Report@  https://www.databridgemarketresearch.com/reports/global-clinical-laboratory-tests-market?Shri

Top Key Topics Covered:

  1. Strategic Imperatives
  • Factors Creating Pressure on Growth
  • The Strategic Imperative
  • Growth Opportunities Fuel the Growth Pipeline Engine
  • Research Methodology
  1. Scope and Segmentation
  • Research Context and Scope of Analysis
  • Segmentation
  • Other Techniques for This Research Report Management
  1. Growth Opportunity Analysis
  • Growth Drivers
  • Growth Restraints
  1. Introduction
  • The Impact of the COVID-19 Pandemic and Post
  • Future Growth
  1. Innovation Ecosystem

Continued…

Clinical Laboratory Tests Market Scope

The clinical laboratory tests market is segmented on the basis of test type, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Test Type

  • Clinical
  • Complete Comprehensive Test or Complete Body Test
  • Complete Body Count (CBC)
  • Basic Metabolic Panel (BMP)
  • HGB/HCT
  • HbA1c Tests
  • BUN Creatinine Tests
  • Electrolytes Tests
  • Renal Panel Tests
  • Lipid Panel Tests
  • Hepatitis
  • Bile Duct Obstruction
  • Liver Cirrhosis
  • Liver Cancer
  • Bone Disease
  • Autoimmune Disorders
  • Others
  • Routine
  • Speciality

 Application

  • Parasitology
  • Haematology
  • Virology
  • Toxicology
  • Immunology/Serology
  • Histopathology
  • Urinalysis

 End Users

  • Hospital Based Laboratories
  • Clinics Based Laboratories
  • Central/Independent Laboratories
  • Physician Office-Based Laboratories
  • Retail Clinic
  • Other

Fundamental Aim of this Market Report

  • Notable Market rivals around the world.
  • Future Scope and Product Outlook
  • Future-promising emerging markets.
  • The Market Presents Difficult Challenges and Threats.

Key highlights of this Market report:

  • Major restraints
  • Market drivers
  • Regional bifurcation
  • Competitive hierarchy
  • Current market tendencies
  • Market concentration analysis

Browse the complete table of contents at –  https://www.databridgemarketresearch.com/toc/?dbmr=global-clinical-laboratory-tests-market&Shri

Some of the major players operating in the clinical laboratory tests market are:

  • Abbott (U.S.)
  • ARUP Laboratories (U.S.)
  • OPKO Health, Inc. (U.S.)
  • Bioscientia Healthcare GmbH (Germany)
  • Charles River Laboratories (U.S.)
  • NeoGenomics Laboratories (U.S.)
  • Genoptix, Inc. (U.S.)
  • Healthscope (Australia)
  • The Laboratory Glassware Co. (U.S.)
  • Laboratory Corporation of America® Holdings (U.S.)
  • Fresenius Medical Care AG & Co. KGaA (Germany)
  • QIAGEN (Germany)
  • Quest Diagnostics Incorporated (U.S.)
  • Siemens Healthcare Private Limited (Germany)
  • Tulip Diagnostics (P) Ltd. (India)
  • Sonic Healthcare Limited (Australia)
  • Merck KGaA (Germany)

Critical Insights Related to the adalimumab biosimilar Included in the Report:

    • Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
    • Value chain analysis of prominent players in the market
    • Current trends influencing the dynamics of this market across various geographies
    • Recent mergers, acquisitions, collaborations, and partnerships
    • Revenue growth of this industry over the forecast period
    • Marketing strategy study and growth trends
    • Growth-driven factor analysis
    • Emerging recess segments and region-wise market
    • An empirical evaluation of the curve of this market
    • Ancient, Present, and Probable scope of the market from both prospect value and volume

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