Clinical Laboratory Services Market - By Test Type (Humor & Tumor Genetics, Clinical Chemistry {Routine Chemistry Testing, Specialized Chemistry Testing}, Service Provider (Hospital-based Laboratory, Stand-alone Laboratory), Global Forecast (2023-2032)

Clinical Laboratory Services Market Size

Clinical Laboratory Services Market size was valued at USD 280.4 billion in 2022 and is estimated to grow at a CAGR of 3.8% between 2023 and 2032. The growing aging population, rising incidence of chronic disease as well as lifestyle-related diseases are accelerating the market expansion. Rising rate of chronic diseases especially among the geriatric population pool is stimulating the demand for clinical laboratory services.
 

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For instance, as per the Centers for Disease Control and Prevention (CDC), more than 85% of older adults suffer from one chronic health condition and approx. 60% have two or more chronic illnesses. Moreover, the rising awareness and emphasis on preventive healthcare have spurred routine health check-ups, boosting the demand for laboratory services. Thus, the aforementioned factors are expected to augment the industry growth of clinical laboratory services.
 

Clinical laboratory services refer to a broad range of medical diagnostic and testing procedures performed on clinical specimens such as blood, urine, tissue, and other bodily fluids, to obtain information about the health of a patient. These services play a crucial role in the diagnosis, monitoring, and treatment of various medical conditions.

COVID-19 Impact

The COVID-19 pandemic had a profound impact on the clinical laboratory services market. As the virus spread globally, there was an unprecedented demand for diagnostic testing, leading to a surge in the number of tests performed in clinical laboratories. This surge in testing prompted innovations in testing technologies and automation to meet the increased demand efficiently. Additionally, the pandemic highlighted the importance of robust laboratory infrastructure and accelerated the adoption of digital health solutions.
 

Clinical Laboratory Services Market Trends

• Growing demand for early disease detection has emerged as a powerful driver propelling the market. As societies worldwide grapple with the increasing burden of chronic illnesses and infectious diseases, there has been a paradigm shift towards proactive healthcare management. The emphasis on early diagnosis and intervention has become a cornerstone in improving patient outcomes and reducing the economic burden associated with advanced-stage treatments. This shift in healthcare has fueled a surge in the demand for clinical laboratory services, as these facilities play a pivotal role in accurate and timely disease detection.
   
• Further, the integration of advanced technologies, such as molecular diagnostics and genetic testing, has augmented the capabilities of clinical laboratories, enabling them to provide more precise and personalized diagnostic information. As a result, the market is experiencing significant growth.
   

However, the lack of clear & standardized regulations and the absence of a well-defined regulatory framework may create uncertainty and hinder the growth of the industry.
 

Clinical Laboratory Services Market Analysis

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Based on test type, the market is segmented into human & tumor genetics, clinical chemistry, medical microbiology & cytology, and other esoteric tests. The clinical chemistry segment accounted for 42.4% business share in 2022 and is predicted to dominate the market throughout the forecast timeframe.
 

• High growth rate is attributed to the growing incidence rate of infectious diseases across the globe. For instance, according to the World Health Organization (WHO) statistics, as of October 2021, more than 250 million individuals were affected by one or other infectious disease including coronavirus. Such high pervasiveness is anticipated to stimulate market progression.
   
• Furthermore, clinical chemistry segment is experiencing exponential growth due to recent developments in the diagnostic field, as major market players have launched various clinical chemistry analyzers, diagnostic kits, and other instruments, thereby fostering the market development.
   

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Based on the service provider, the clinical laboratories market is bifurcated into stand-alone laboratories, hospital-based laboratories, and clinic-based laboratories. The hospital-based laboratories segment is expected to show CAGR of 3.5% over the forecast period.

• The high growth can be attributed to advancements in medical technology, automation of laboratory processes, and an emphasis on delivering efficient and integrated healthcare services.
   
• Hospitals are increasingly recognizing the value of in-house laboratories for prompt and accurate diagnostic results, enabling them to streamline patient care and treatment plans.
   
• Additionally, the rising prevalence of chronic diseases and infectious conditions has led to a surge in the volume of diagnostic tests performed within hospital settings, further driving the growth of the hospital-based laboratory segment.
   

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North America accounted for the largest business share of 45.4% of the global clinical laboratory service market in 2022.
 

• Advancements in laboratory automation, molecular diagnostics, and next-generation sequencing technologies have further catalyzed the expansion of clinical laboratory services. Also, rising fund accumulations in the public healthcare system and increasing healthcare expenditure is anticipated to escalate the market expansion.
   

Clinical Laboratory Services Market Share

The clinical laboratory services industry is characterized by diverse players competing in the clinical laboratory services industry. Intense competition fosters ongoing technological advancements, driving the evolution of clinical tests, service portfolio, and adoption trends. With the persistent focus on enhancing efficiency and patient safety, the clinical laboratory sector remains fiercely competitive, fostering innovation and industry growth.
 

Prominent market players in the clinical laboratory services industry is as mentioned below:

• Arup Laboratories Inc.
• Sonic Healthcare
• Neogenomics Laboratories, Inc. (Neogenomics, Inc.)
• Opko Health, Inc. (Bioreference Laboratories, Inc.)
• Laboratory Corporation of America Holdings (Labcorp)
• Quest Diagnostics Inc.
• Fresenius Medical Care (Spectra Laboratories)
• Qiagen N.V.
• Synlab International GmbH
• Charles River Laboratories
• Fullerton Healthcare Corporation Limited
• LifeLabs
• Eurofins Scientific
   

Clinical Laboratory Services Industry News:

• In August 2021, Fresenius Medical Care opened a new facility for laboratory services in Mississippi, U.S. market. The facility will enable several testing, analysis and reporting initiatives that will help the organization in the development of patient service centers in the U.S. market. This is anticipated to lead to the business expansion of the company in the market.
   
• In June 2021, Eurofins acquired DNA Diagnostics Center to extend genetic testing capabilities and to further expand its consumer testing market. This acquisition is expected to help organization to broaden its customer base.
   

The global clinical laboratory services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2018 to 2032 for the following segments:

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By Test Type, 2018 – 2032 (USD Billion)

• Humor & tumor genetics
• Clinical chemistry
  • Routine chemistry testing
  • Specialized chemistry testing
  • Therapeutic drug monitoring (TDM) testing
  • Endocrinology chemistry testing
  • Other clinical chemistry testing
• Medical microbiology & cytology
• Other esoteric tests

By Service Provider, 2018 – 2032 (USD Billion)

• Hospital-based laboratories
• Stand-alone laboratories
• Clinic-based laboratories

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa