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Data Bridge Market Research analyses that the clinical laboratory tests market which was USD 206,645.00 million in 2021, is expected to reach USD 399819.07 million by 2029, at a CAGR of 8.6% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Recent developments
In April 2022, Quest Diagnostics, based in Secaucus, New Jersey, has announced a number of organisational changes and senior leadership appointments to better support the company’s two-point business strategy of accelerating growth and driving operational excellence.
In April 2022, Abbott has updated its digital health app with its chronic pain neurostimulation devices, making it easier for clinicians to monitor how well patients respond to treatment. While using Abbott’s Proclaim device range for spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy, the Neurosphere myPath app measures and reports patient-perceived pain relief and general well-being.
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Market Overview:
According to World Health Organization data, more than 17 million people die each year from cardiovascular disorders caused by a variety of unhealthy behaviours, high blood pressure, and high cholesterol levels. Liver cirrhosis, hepatitis, liver cancer, bone disease, bile duct obstruction, and autoimmune disorders are all part of the liver panel segment. Hepatitis had the highest share in 2019, while liver cirrhosis was expected to be the fastest-growing segment over the forecast period due to rising lifestyle disorders and tobacco and alcohol consumption.
Clinical laboratory test results are used in diagnostic decision making as part of clinical medicine. Clinical laboratory tests are classified into three types. The US Food and Drug Administration (FDA) determines the testing categories of tests that have been cleared for clinical use using a scoring system that considers the complexity of the testing, the stability of calibrators, controls, pre-analytical steps required, and the need for result interpretation. The test samples are analysed by a technician or your doctor to see if your results are within the normal range. Clinical laboratories are medical services that offer a wide range of research techniques to help doctors with diagnosis, therapeutic interventions, and patient supervision.
These labs are run by medical technologists (clinical laboratory physicists), who are qualified to conduct experiments on collections of biological samples obtained from their patients. The vast majority of clinical labs are housed within or near medical facilities, making them accessible to both doctors and patients. Clinical laboratory classifications show that these facilities can include high-quality laboratory experiments required to meet clinical and public health demands.
Restraints/Challenges
Stringent governmental guidelines will restrict the growth rate
The stringent governmental guidelines and regulations on laboratory research are the main factors limiting the market growth. The maintenance of quality of clinical laboratory products is governed by country specific regulatory bodies. These bodies ensure protection from risks caused by flaws in design, technology, packaging, and manufacturing of the equipment or peripherals.
Ambiguous regulatory framework
The healthcare industry relies heavily on regulatory frameworks established by organisations such as the FDA and EMA in the United States. There are no specific regulatory requirements for the diagnostic business in emerging markets such as China and India. Laboratory-designed tests (LDTs) are tests developed in-house clinical laboratories that provide accurate and timely results. LDT risks could reduce profit margins and cause delays in the marketing of newly designed tests. This factor is impeding the global clinical laboratory tests market’s growth.
This clinical laboratory tests market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the clinical laboratory tests market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Clinical Laboratory Tests Market Scope
The clinical laboratory tests market is segmented on the basis of test type, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Test Type
Clinical
Complete Comprehensive Test or Complete Body Test
Complete Body Count (CBC)
Basic Metabolic Panel (BMP)
HGB/HCT
HbA1c Tests
BUN Creatinine Tests
Electrolytes Tests
Renal Panel Tests
Lipid Panel Tests
Hepatitis
Bile Duct Obstruction
Liver Cirrhosis
Liver Cancer
Bone Disease
Autoimmune Disorders
Others
Routine
Speciality
Application
Parasitology
Haematology
Virology
Toxicology
Immunology/Serology
Histopathology
Urinalysis
End Users
Hospital Based Laboratories
Clinics Based Laboratories
Central/Independent Laboratories
Physician Office-Based Laboratories
Retail Clinic
Other
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Some of the major players operating in the clinical laboratory tests market are:
Abbott (U.S.)
ARUP Laboratories (U.S.)
OPKO Health, Inc. (U.S.)
Bioscientia Healthcare GmbH (Germany)
Charles River Laboratories (U.S.)
NeoGenomics Laboratories (U.S.)
Genoptix, Inc. (U.S.)
Healthscope (Australia)
The Laboratory Glassware Co. (U.S.)
Laboratory Corporation of America® Holdings (U.S.)
Fresenius Medical Care AG & Co. KGaA (Germany)
QIAGEN (Germany)
Quest Diagnostics Incorporated (U.S.)
Siemens Healthcare Private Limited (Germany)
Tulip Diagnostics (P) Ltd. (India)
Sonic Healthcare Limited (Australia)
Merck KGaA (Germany)
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About Data Bridge Market Research:
An absolute way to forecast what future holds is to comprehend the trend today!
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.
Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.
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