Authored By: Sarah
14 Dec 2021

Clinical Laboratory Services Market | Discover Top Trends and Drivers
Recovery and Growth Insights for 2021-2025

Decelerating at a CAGR of over 10%, the clinical laboratory services market is expected to grow by post an incremental growth of $ 159.14 bn over the next five years. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.


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Clinical Laboratory Services Market: Market Segments and Key Trends

The Clinical laboratory services market is segmented by Service (Hospital-based, Stand-alone, and Clinic-based) and Geography (North America, Europe, Asia, and ROW). North America led the market with 33% of the market growth set to originate from this region during the forecast period. Lack of skilled professionals is one of the challenges that will need to be overcome to drive growth. The research report provides market share projections of each segment along with a detailed analysis of all the factors that are likely to boost growth within specific regions as well as global markets.

Clinical Laboratory Services Market: Top Drivers to Boost Demand

The introduction of laboratory robots is one of the primary factors driving the growth of the clinical laboratory services market. The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.

Clinical Laboratory Services Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Clinical Laboratory Services Market: Competitive Landscape

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Eurofins Scientific SE, Fresenius Medical Care AG & Co. KGaA, Laboratory Corp. of America Holdings, Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Siemens Healthineers AG are some of the major market participants.

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Clinical Laboratory Services Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive clinical laboratory services market growth during the next five years
  • Precise estimation of the clinical laboratory services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the clinical laboratory services market industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of clinical laboratory services market vendors

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is decelerate at a CAGR of over 10%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 159.14 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    introduction of laboratory robots will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, Asia, and ROW are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    33% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Abbott Laboratories, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Eurofins Scientific SE, Fresenius Medical Care AG & Co. KGaA, Laboratory Corp. of America Holdings, Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Siemens Healthineers AG

     
  7. What are the market segments covered in this report?
    The market is segmented by Service (Hospital-based, Stand-alone, and Clinic-based) and Geography (North America, Europe, Asia, and ROW)

Clinical Laboratory Services Market Size to Grow by $ 159.14 bn through 2021-2025 | Forecast and Trend Analysis

Technavio has been monitoring the clinical laboratory services market and it is expected to grow by $ 159.14 bn, decelerating at a CAGR of almost 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Clinical Laboratory Services Market: Emerging Trends to Impact Market Growth

Advent of innovative treatment techniques to emerge as a key trend in the industrial clinical laboratory services market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Clinical Laboratory Services Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Clinical Laboratory Services Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Eurofins Scientific SE, Fresenius Medical Care AG & Co. KGaA, Laboratory Corp. of America Holdings, Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Siemens Healthineers AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

For more insights into this market:Download a Free Sample Report

Technavio has been monitoring the Global Clinical Laboratory Services Market and it is expected to grow by USD 159.14 billion decelerating at a CAGR of over 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Clinical Laboratory Services Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025

Clinical Laboratory Services Market: Introduction of Laboratory Robots to Drive Growth

Advanced automated clinical laboratories can increase productivity, improve experimental data quality, and reduce laboratories process cycle times. The advent of laboratory robotics has resulted in the automation of laboratories. Robotics has increased the efficiency and effectiveness of diagnostics and testing processes. This is because automated laboratories can conduct high-throughput screening, combinatorial chemistry, automated clinical and analytical testing, and large-scale biorepositories. Fully automated instruments help clinical laboratories handle the movement of specimens across disciplines and generate results quickly. 

The advent of innovative treatment techniques, which includes real-time and digitalization treatment will be one of the major clinical laboratory industry trends that will gain traction in the clinical laboratory services market during the next four years. The real-time and digitalized treatment processes also help in the treatment of advanced diseases.

Clinical Laboratory Services Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Eurofins Scientific SE, Fresenius Medical Care AG & Co. KGaA, Laboratory Corp. of America Holdings, Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Siemens Healthineers AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

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