Clinical laboratory test Market To Grow Over USD 324.5 billion After 2016 the Market Is Massively Growing Due Increasing prevalence of chronic diseases.

Pune, India, 2017-Jun-27 — /EPR Network/ — Market research future has a cooked research report on global Clinical Laboratory Test Market . The global Clinical Laboratory Test Market is growing at an average rate and is expected show the similar trend during forecast period.

It has been noted that global clinical laboratory test market is growing at steady pace and is expected to grow at the CAGR of 6.5%. Clinical laboratory testing has emerged as the most growing segment of healthcare over the past few years. Clinical laboratory testing includes all routine check-ups and other pathology tests for the diagnosis of various diseases ranging from CBC and other routine blood test, anatomical pathological testing, molecular, immunological, drug testing and other tests for disease diagnosis and treatment.

The rate of various disease and disorder like diabetes, cancer and much infectious disease has risen in last few years. According to the survey by WHO, by 2030 diabetes will be the seventh leading cause of death, in 2012 approximately 1.5 million people died due to diabetes. On other hand 14 million patients in 2012 to 22 million on a yearly basis new cancer cases are been registered. The Centres for Disease Control and Prevention reported that in 2012 alone, US reported 9,945 cases of tuberculosis, 53,800 cases of salmonella, 30,831 new cases of Lyme disease and 551 cases of meningococcal disease. The light footed increment in the chronic disease condition has impact on the demand for clinical laboratory services.

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Global Clinical laboratory test Competitive Analysis:  

• AURORA Diagnostics
• Laboratory Corporation of America
• LifeLabs Medical Laboratories
• Quest Diagnostics
• Sonic Healthcare and others

Regional analysis

North America accounts for the maximum market share of Global Clinical Laboratory testing market and is expected to grow at a CAGR of 6.2% during the forecasted period. Maximum number of laboratories and clinical testing procedures are the major reason for the highest market growth of this region. Asia-Pacific, is expected to be the fastest growing region with the CAGR of 6.8% during the forecasted period mainly because of growing awareness about various medical test, government support in order to improve healthcare sector, innovation of new tests and procedures by major market players. The awareness and patient counselling with respect to medical testing by Asia-Pacific Federation for Clinical Biochemistry and Laboratory Medicines which includes the members from seven nations. Being a large population base, multiplying aging population and continuous advance in healthcare, China clinical laboratory market has been growing radically in recent years.

Segmentation

Global clinical laboratory test market has been segmented on the basis of laboratory type which comprises of hospital based laboratories, central/independent laboratories, physician office laboratory (pol) and others. Furthermore on the bases of laboratory tests the market is segmented into cbc and other routine blood tests, anatomic pathology, molecular tests, immunology tests, drug testing and others.

Globally Clinical Laboratory Testing Market by type of laboratory test is segmented into CBC and routine blood test, anatomical pathology, molecular pathology, immunological testing, drug testing and other routine tests. In 2016, CBC and other routine test accounts for the largest market share of 50.9%, and was valued at USD 105230.6 Million in the same year. This large share is majorly attributed to factor such as increasing outpatient services in hospitals and increasing awareness and concern regarding routine health check-ups. Drug testing laboratory tests are projected to grow at a higher CAGR of 6.9% during the forecasted period due to increase in demand for new drugs for treatment of disease and also due to increased testing relating to prescription drug abuse. Various laboratories in North America provide clinical testing services, Quest diagnostics, and LabCorp are the major providers of these services in North America region and contributes largest market share together. Regulating government policies are the major restricting factor in the clinical laboratory testing market.

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