The
Global Clinical Laboratory Services Market was valued US$ 168.9 million in 2015
and is projected to expand at a CAGR of 6.4% during the forecast period:
2016-2024, as analyzed by Coherent Market Insights in a detailed report about
the same. Increasing health awareness among the general population is in turn
fueling uptake of routine health check-ups. This is also being supported by
growing incidence of diseases in turn driving the demand for clinical
laboratory services globally. In order to capitalized on this highly lucrative
opportunity, clinical laboratory service providers such as Laboratory
Corporation of America Holdings (Labcorp), Quest Diagnostics, Inc., Spectra
Laboratories, Sonic Healthcare Limited, and Charles River Laboratories are
offering additional services such as web-based booking of test/service and free
home pick-up of test samples, complementing regular packages for health
check-ups.
Get Free PDF Research Brochure for
more Professional and Technical Insights: https://www.coherentmarketinsights.com/insight/request-sample/87
Increasing
competition among clinical laboratory service providers in turn is leading to
rampant increase in corporate cannibalization. Most major players are acquiring
smaller player in order to enhance their position in the market and leading to
consolidation in the market. For instance, Laboratory Corporation of America
Holdings (LabCorp) acquired Sequenom, Inc. in July 2016, subsequently becoming
the leader in non-invasive prenatal testing (NIPT) for reproductive health. The
company continues along this inorganic growth roadmap and in October 2016, the
company acquired ClearPath Diagnostics, a leading clinical laboratory service
provider in the Northeastern region of the U.S.
Clinical
laboratory service providers are also focusing on vertical integration in the
ecosystem. For example, in November 2016, Sonic Healthcare Limited increased
its ownership stake in GLP Systems from 25% to 80%. GLP Systems, a
Germany-based company, developed an innovative laboratory automation technology
that enables seamless and automated transportation of specimen tubes between
storage, work areas, and diagnostic machines. Sonic Healthcare Limited also
expanded its presence in Germany by acquiring Staber Laboratory Group based in
Munich, Germany, in November 2016. The Staber Group has three hub laboratories
and 14 regional, specialty and hospital labs in Germany, making it one of the
leading players in the country.
Increasing
incidence of infectious diseases and the growing burden of non-communicable
diseases is in turn driving demand for clinical tests. This is influencing
clinical laboratory service providers to increase their functional capabilities
to cater to the growing needs of patients. As revealed by stats released by
Quest Diagnostics, Inc., around 70% of the medical decision are based on lab
results. This is expected to proliferate demand for clinical laboratory
services in the emerging economies including China and India.
To know the latest
trends and insights of this market, click the link below: https://www.coherentmarketinsights.com/market-insight/clinical-laboratory-services-market-87
Key takeaways of the market:
·
The global market for clinical laboratory
services is estimated to be valued at US$ 192.3 million in 2017. Growing aging
population and increasing incidence of infectious diseases, cardiac disorders,
stroke, and liver disorders are factors attributed to growing number of
patients visiting clinical laboratories for tests.
·
Clinical chemistry test was the dominant segment
in the market, accounting around 45% of total revenue share in 2015. Clinical
chemistry test includes testing of blood and urine samples in the patients as
an initial step to diagnose a disease or preexisting health condition.
·
Among service providers, the hospital-based
clinical laboratories segment was valued at US$ 96.4 million in 2015. This is
owing to availability of better diagnostic devices and services in hospitals as
compared to other healthcare service providers.
·
However, the services offered by standalone
clinical laboratories are improving rapidly, wherein accessibility to patients
has increased
·
The clinical laboratory services market is
expected to gain significant growth traction in Asia Pacific and Latin America,
mainly attributed to high prevalence of infectious and non-communicable
diseases, increasing health concerns, and new diagnostic laboratories being
established to cater to the growing needs of patient for health check-ups
·
Consolidation is the key trend observed in order
to cement the market presence and sustain the customer base - LabCorp acquired
Sequenom, Inc in July 2016, and ClearPath Diagnostics in October 2016
Request For
Customization: https://www.coherentmarketinsights.com/insight/request-customization/87
ABOUT US
COMPANY OVERVIEW
Coherent
Market Insights is a global market intelligence and consulting organization
focused on assisting our plethora of clients achieve transformational growth by
helping them make critical business decisions. We are headquartered in India,
having office at global financial capital in the U.S. Our client base includes
players from across all business verticals in over 150 countries worldwide. We
are uniquely positioned to help businesses around the globe deliver practical
and lasting results through various recommendations about operational
improvements, technologies, emerging market trends and new working methods. We
offer both customized and syndicated market research reports that help our
clients create visionary growth plans to provide traction to their business. We
meticulously study emerging trends across various industries at both the global
and regional levels to identify new opportunities for our clientele. Our global
team of over 100 research analysts and freelance consultants provide market
intelligence from the very molecular country level and also provide a global
perspective of the market. Our team is of the most vital cog in our robust
machinery that gives us the ability to deliver independent insight relying on
our cognitive defusion training module.This allows for an objective and
unbiased assessment of the market. We pride ourselves in my constantly striving
to update our extremely in-depth understanding of the market by closely
monitoring and analyzing markets, trends, and emerging best practices, across
allfathomable industries under the sun. This enables us to equip our valued
clientele with key decisive inputs to capitalize on lucrative growth opportunities
in the market and to follow firmly position themselves on a high growth path in
the future.
CONTACT US
Raj Shah
Coherent
Market Insights
1001 4th Ave,
1001 4th Ave,
#3200
Seattle, WA
98154
Tel:
+1-206-701-6702
Visit Blog : http://globalresearchtrends.blogspot.in/
No comments:
Post a Comment