The global clinical laboratory services market is
growing significantly due to the advances in diagnostic techniques, increasing
incidences of chronic diseases, and increasing geriatric population. Healthcare
providers’ compliance for clinical diagnostic services is increasing due to the
increasing demand for reducing hospitalization time and hospital readmission
rates. This in turn propels the growth of the global clinical laboratory
services market.
Several pharmaceutical companies investing huge
capital for the development of advanced clinical laboratory devices is also
supporting the demand for cost effective and efficient clinical laboratory
services.
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Clinical laboratory services have applications
in various diagnostic tests, such as nucleic acid tests, pregnancy tests, HIV
tests, and test for checking cholesterol level and the test have strong impact
on the health outcome. Technological advancements have made diagnostic
procedures easy, accurate, and less time consuming, and ultimately improving
health outcomes.
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Some of the factors driving the growth of the
global clinical laboratory services market are advances in diagnostic
techniques, increasing geriatric population, increasing healthcare providers’
compliance for diagnostic test and services, and increasing investment by big
biopharmaceutical companies in the clinical laboratory services market.
Geographically, North America leads the global
clinical laboratory services market due to high healthcare expenditure, high
proportion of geriatric population, and high healthcare providers’ compliance
for clinical laboratory services instruments. The high prevalence of chronic
diseases also fuels the growth of the global clinical laboratory services
market.
Asia-Pacific is the fastest growing region in
the global clinical laboratory services market. The major reasons for the
fastest growth in the region are increasing healthcare expenditure, increasing
geriatric population, and improving healthcare infrastructure.
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Some of the major players operating in the
global clinical laboratory services market are ARUP Laboratories, Abbott
Laboratories, Bio-Reference Laboratories, Charles River Laboratories,
Bioscientia Healthcare, Genoptix Medical Laboratory, Healthscope Ltd, Laboratory
Corporation Of America Holdings, Labco S.A., Quest Diagnostics Inc., Spectra
Laboratories, Sonic Healthcare Limited, and Genoptix Medical Laboratory.
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