The global clinical laboratory tests market size is expected to reach USD 423.49 billion by 2029 according to a new study by Polaris Market Research. The report “Clinical Laboratory Tests Market Share, Size, Trends, Industry Analysis Report, By Type (Complete Blood Count, HGB/HCT, BUN Creatinine, Electrolytes Testing, HbA1c, Comprehensive Metabolic Panel, Liver Panel, Renal Panel, Lipid Panel); By End-Use; By Region; Segment Forecast, 2022 – 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising number of cardiovascular and diseases, increasing geriatric population, advancement in healthcare and medical infrastructure, rising health awareness among people are driving the medical testing industry.
Due to the standardization of lab services, the strengthening of lab systems, and the creation of novel and rapid diagnostic technologies have recently become essential topics within this industry. Local and international health authorities and technological specialists are constantly addressing these concerns within the framework of a patient-centered approach.
North America held the major share of the global industry in 2021. Artificial intelligence and machine learning have been integrated into lab equipment, allowing for the rapid and accurate execution of large quantities of examinations.
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The rising prevalence of cardiovascular disease is fuelling the industry demand. According to the Centers for Disease Control and Prevention, around 659,000 individuals in the U.S. die from heart disease annually. In the U.S., cardiovascular disease is the top cause of mortality for males, females, and individuals of most racial and ethnic groups.
Some of the key players operating the global industry for medical lab trials include Abbott Labs, ARUP Laboratories, Bioscientia Institut für Medizinische Diagnostik GmbH, Biosino Biotechnology and Science Inc., Charles River, Fresenius Medical Care, Genoptix, Inc., Healthscope Ltd., Merck KgaA, NeoGenomics Laboratories, OPKO Health, Inc, QIAGEN, Quest Diagnostics, Siemens Healthcare, Sonic Healthcare, Tulip Diagnostics (P) Ltd.
Polaris Market Research has segmented the clinical laboratory tests market report on the basis of type, end-use, and region:
Clinical Laboratory Tests, Type Outlook (Revenue – USD Billion, 2017 – 2029)
- Complete Blood Count
- Basic Metabolic Panel
- BUN Creatinine Tests
- Electrolytes Testing
- HbA1c Tests
- Comprehensive Metabolic Panel
- Liver Panel
- Renal Panel
- Lipid Panel
Clinical Laboratory Tests, End-Use Outlook (Revenue – USD Billion, 2017 – 2029)
- Central Laboratories
- Primary Clinics
Clinical Laboratory Tests, by Regional Outlook (Revenue – USD Billion, 2017 – 2029)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa