The global clinical laboratory tests market size is expected to reach USD 320.14 billion by 2028 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 Tests, Electrolytes Testing, HbA1c Tests, Comprehensive Metabolic Panel, Liver Panel, Renal Panel, Lipid Panel); By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The advancements in clinical chemistry, surging consumer demand for early and accurate disease analysis, and growing public-private investments to spur grants and research funding towards laboratory testing services are few pivotal factors boosting the market growth for clinical laboratory tests. Clinical laboratory tests in the U.S. market are tightly regulated by the federal government.
Diagnostic labs in the market have followed rules as mentioned in the amendments of Clinical Laboratory Improvement Amendments (CLIA). Under this act, the centers for Medicare and Medicaid Services (CMS) administers all clinical facilities performing tests on humans which are intended for disease treatment, prevention, and its diagnosis, and FDA classifies tests based on their complexity. Each clinical lab in the country must apply to obtain a certificate to certify the complexity of their tests.
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There are over 200,000 clinical labs in the U.S. providing testing services in the market. Hospital-based clinical laboratory comprises around 5 percent of all labs in the country and perform over 55 percent of total volume, the largest among all in the market.
Independent laboratory market segment, which hold around 3 percent of total laboratories, perform 32 percent tests volume. Moreover, physician labs, which are half of the total count of U.S. labs are responsible for around 8 percent of the laboratory volume in the market. Physician office labs mostly perform simple to moderate tests to provide immediate results to the clinicians.
Market players operating in the clinical laboratory tests industry include Abbott Labs; Bioscientia Institut für Medizinische Diagnostik GmbH; ARUP Laboratories; Tulip Diagnostics (P) Ltd.; Charles River; Sonic Healthcare; OPKO Health, Inc.; NeoGenomics Laboratories; Merck KgaA; Laboratory Corporation of America Holdings; Quest Diagnostics; Fresenius Medical Care; Genoptix, Inc.; Healthscope Ltd., QIAGEN; Siemens Healthcare, and Biosino Biotechnology and Science Inc.
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 Million, 2016 – 2028)
- 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 Million, 2016 – 2028)
- Central Laboratories
- Primary Clinics
Clinical Laboratory Tests, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa