Global Clinical Laboratory Services Market, By Test Type
and Service Provider - Trends, Analysis and Forecast till
2024
Around 70% of medical decisions are based on lab results, as revealed by statistic released by
Quest Diagnostics. Thus, optimization of laboratory facilities to deliver quality and cost-effective
patient care is of utmost importance for clinical laboratory service providers. The three major
types of clinical laboratory service providers are hospital-based laboratories, clinic-based
laboratories and standalone laboratories. Major factors impacting the dynamics of global clinical
laboratory service market include growing aging population, increasing disease burden, and
increasing number of preventive health check-ups.
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The global clinical laboratory services market was valued at US$ 168.9 billion in 2015 and is
projected to expand at a CAGR of 7.3% during the forecast period (2016 – 2024).
Market Dynamics
According to the United Nations 2015 World Population Prospects Report, the number of people
aged 60 years and above is expected to grow by 56% to reach 1.4 billion by 2050. Aging
increases the risk of infections and chronic disorders such as arthritis, atherosclerosis, cancer,
liver diseases, and diabetes. This makes the geriatric population a key target group for
diagnostic tests. Increasing health consciousness and awareness among people for regular-health
check-ups for identifying signs of any disease have also increased number of visits to
laboratories. Also, diagnostic laboratories are launching multiple health packages for routine
health check-ups and encouraging the general population to perform routine health check-up at
least once a year. Such initiatives from the clinical test service providers is also fueling the
demand for clinical laboratory services.
Report includes chapters which deeply display the following deliverable about industry :
• Global Clinical Laboratory Services Market Research Objective and Assumption
• Global Clinical Laboratory Services Market Purview - Report Description, Executive Summary,