Latest News- Clinical Laboratory Services Market: Hospital-based laboratories is expected to lead the End-user segment during 2024-2028

The Clinical Laboratory Services Market is being driven by Growth in geriatric population

The Clinical Laboratory Services Market is expected to grow at a CAGR of 10.87% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 172.4 billion. In light of the rising incidence of chronic diseases and the growing emphasis on preventive healthcare, the need for routine healthcare tests has gained significant traction. Preventive healthcare focuses on disease prevention as opposed to treatment, which is achievable through regular diagnostic assessments. Doctors advise routine checkups based on age and gender, with women aged 38 to 42 being at a higher risk for breast cancer, necessitating regular mammogram screenings. Additionally, the prevalence of transmittable diseases underscores the importance of clinical laboratory services in ensuring early detection and effective treatment. Regular testing plays a crucial role in preventing illnesses and their progression, thereby driving demand for clinical laboratory services. 

Get more information on Clinical Laboratory Services Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Hospital-based laboratories
  • Stand-alone laboratories
  • Clinic-based laboratories
• Application
  • Bioanalytical and lab chemistry
  • Toxicology testing
  • Cell and gene therapy
  • Preclinical and clinical trial
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in geriatric population
• Increasing prevalence of chronic diseases
• Advent of automation and laboratory robotics

However, the market also witnesses some limitations, which are as follows:

• Lack of skilled professionals
• Incorrect and illegible sample labeling
• Limited reimbursements

Benefits of Buying Global Clinical Laboratory Services Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Clinical Laboratory Services Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Clinical Laboratory Services Market encompasses advanced technologies such as Serological Assays, Real-Time PCR, Flow Cytometry, Mass Spectrometry, and Automated Tissue Processors. It also includes innovative solutions like Image Analysis, Data Visualization, Predictive Analytics, Patient Engagement, Home Healthcare, Direct-to-Consumer Testing, and Precision Diagnostics. Additionally, it offers Companion Diagnostics, Early Disease Detection, Health Surveillance, Population Health Management, Healthcare Cost Containment, Lab Operations Optimization, Process Automation, Lean Management, Six Sigma, and Quality Improvement.

Market Research Overview

The global life sciences tools and services market encompasses companies and offerings involved in the research and development (R&D) of a range of product categories, including capital equipment, instruments, accessories, and consumables. These tools are utilized in the pharmaceutical and biotechnology industries, as well as for laboratory diagnosis of various diseases. Key product segments include Laboratory Automation, Clinical Chemistry Analyzers, Hematology Analyzers, Immunoassay Analyzers, Molecular Diagnostics, Next-Generation Sequencing (NGS), Point-of-Care Testing (POCT), and Microbiology Testing. Factors driving market growth include the increasing global population aging, with the proportion of those over 60 years projected to rise significantly. This demographic shift will fuel demand for advanced diagnostic tools and services to address the resulting healthcare needs. Additionally, advancements in technology, such as automation and NGS, will further expand market opportunities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/