-- U.S. clinical laboratory services market is anticipated to grow at 6.7% over the coming years. Escalating prevalence of cardiovascular disease and diabetes coupled with presence of major industry players in the country will upsurge the revenue size. As per CDC National Diabetes Statistics report around 30.3 million individuals of different age groups had diabetes in 2015; this accounts for nearly 9.4% of the U.S. population.
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Inadequate reimbursements along with stringent regulations for clinical laboratory operations will restrain market growth over the coming years. Involvement of numerous regulatory authorities to ensure lab safety can impact negatively on clinical laboratory services industry growth. Clinical Laboratory Services Market will exceed USD 342 billion by 2024; as per a new research report.
Routine chemistry of clinical chemistry segment held largest revenue share and will grow at 5.0% during forecast timeframe. Growing awareness of health check-ups and increasing preference for early disease diagnosis will stimulate routine chemistry segmental growth.
Growing R&D investments for introducing innovative solutions that includes accuracy of analysis, real-time results, automation throughput, outcome assessment of laboratory tests will drive clinical laboratory services market growth during the forecast timeframe. Escalating prevalence of target diseases and growing initiatives by organizations to control these target diseases should impact positively on clinical laboratory services industry growth. According to the National Center for Biotechnology Information (NCBI) around 43.9% U.S. adult population will have cardiovascular disease by 2030. This should offer immense business growth opportunities over the forecast period.
Stand-alone laboratories segment held USD 83.3 million revenue in 2017, due to rising infectious diseases and growing initiatives by prominent industry players to set labs. In the U.S. as per CDC data in 2015 nearly 16.8 million people visited physician offices for infectious as well as parasitic diseases thus, contributing to segmental growth.
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Notable industry competitors are Abbott Laboratories, Arup Laboratories, Charles River Laboratories, Fresenius Medical Care (Spectra Laboratories), Fullerton Health, Genoptix Medical Laboratory, Laboratory Corporation of America Holdings (Labcorp), Neogenomics Laboratories (Clarient), Opko Health (Bioreference Laboratories), Qiagen, Quest Diagnostics, Sanofi Genzyme, Siemens, Sonic Healthcare, and Synlab (Labco).
Prominent business players are focusing on strategic acquisition and partnerships. Introduction of innovative solutions in clinical laboratory services should favor industry growth over the forecast period. Companies existing in industry are emphasizing on acquisition and collaborations to upsurge their revenue share in the clinical laboratory services market. For instance, in June 2018, Neogenomics Laboratories collaborated with Pharmaceutical Product Development to provide fully integrated molecular testing solutions to pharmaceutical and biotechnological clients. This collaboration will allow company to meet increasing worldwide client requirements.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Clinical Laboratory Services Industry Insights
Chapter 4. Clinical Laboratory Services Market, By Test Type
Chapter 5. Clinical Laboratory Services Market, By Service Provider
Chapter 6. Clinical Laboratory Services Market, By Region
Chapter 7. Company Profiles
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Related Report:
United States Clinical Laboratory Services Market Report 2018
In this report, the United States Clinical Laboratory Services market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
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