Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The clinical laboratory is the place where tests are done on clinical specimens from the body like blood or urine and samples in order to get information about the health of a patients. Clinical laboratory services helps doctors to the diagnosis, treatment and prevention of diseases. It comprises fields like biological, microbiological, serological, chemical, immunohematological, hematological, biophysical. These services are delivered by labs located in hospitals and physician offices, as well as by independent labs. The clinical laboratory services include testing material, tissues obtained from a patient or through clinical studies to determine cause as well as nature of diseases.
The clinical laboratory services market has been seeing tremendous growth from the past few decades owing to, increasing global burden of target diseases, growing public-private investments as well as research funding and rising demand for early and accurate disease diagnosis. Besides this, European government has taking initiatives to improve the quality and affordability of clinical diagnostic testing procedures will fuel the market growth in upcoming years. Nevertheless, pricing pressure faced by healthcare payers and providers and procedural shift from lab-based diagnosis to home-based or point-of-care testing procedures are the major restraining factor that could hamper the growth of the market.
Due to COVID 19 outbreak trends towards clinical laboratories is increases which will lead to rise in demand for various clinical laboratory services will boost the market growth. Increasing awareness in population towards laboratory tests related to COVID 19 diagnostics and management will drive the market growth. Various diagnosis tests are perform for accurate diagnosis of COVID 19 hence demand for clinical laboratory services has increased. Due to this scenario, COVID-19 is expected to positively impact the clinical laboratory services industry, as the pandemic has boosted the clinical laboratory testing services.
The study analyses Europe Clinical Laboratory Services Market based on test type, provider, application and country.
The major test type involve in clinical laboratory services market is bifurcated into human & tumor genetics, clinical chemistry, medical microbiology and cytology and other esoteric tests. The clinical chemistry are expected to account for the largest share of the market in 2020 owing to, growing numerous clinical chemistry tests and the emergence of point-of-care testing methods. The rising awareness towards early cancer screening will causes human & tumor genetics is the second leading segment in the market.
The various providers involve in clinical laboratory services market are bifurcated into independent and reference laboratories, hospital-based laboratories; and nursing and physician office-based laboratories. The independent and reference laboratories segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The rising automation and digitalization in diagnostic laboratories will drive the market growth. Nevertheless, efforts to improve patient outcomes by providing diagnostic facilities at the retail level will drive the market in upcoming years.
The clinical laboratory services market has application in various sectors such as bio analytical & lab chemistry services, toxicology testing services, cell & gene therapy related services, preclinical & clinical trial related services, drug Discovery & development related services and others. The bio analytical and lab chemistry held the largest market share of Europe clinical laboratory services market and is likely to dominate the market over the estimated time frame. The rising number of investigational drugs undergoing clinical trials for checking their efficacy and safety as well as rising number of novel drug candidates participating in clinical trials will lead the growth of this market.
Country wise, the study is comprised of the key countries such as the UK, Germany, France, Italy, Spain and Rest of Europe. The UK held the largest market share of Europe clinical laboratory services market and is likely to dominate the market over the estimated time frame. Owing to the factors responsible for the clinical laboratory services market growth in UK are rise in developing advanced technology in clinical laboratory services.
The major key players of market includes Mayo Medical Laboratories , Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Spectra Laboratories Inc., DaVita Healthcare Partners, Eurofins Scientific, Unilabs, SYNLAB International, Bio-Reference Laboratories, Sonic Healthcare, and Cerba HealthCare, OPKO Health, Inc, Abbott, Charles River Laboratories International, Inc., Cinven, Arup laboratories, NeoGenomics Laboratories, Fresenius Medical Care and Viapath Group LLP.
September 2020: The Virolens Covid-19 screening test, based on a nano-cellular microscope after securing its commercial rights from Virolens to market the product in Australia and South East Asia was launched by KeyOpinions.
March 2020: Illumina acquired cancer-testing firm Grail to accelerate commercialization and adoption of transformative multi-cancer screening tests with the potential to detect more cancers earlier and enable better outcomes. Galleri was expected to launch commercially in 2021 as a multi-cancer, laboratory-developed test (LDT) for early cancer detection from the blood.
The study analyses Europe clinical laboratory services market based on test type, provider, application and geography. The medical device testing plays vital role to ensure the accurate diagnosis and treatment of diseases. The market has its application in the bio analytical & lab chemistry services, toxicology testing services, cell & gene therapy related services, preclinical & clinical trial related services, drug discovery & development related services and others. The increasing number of investigational drugs undergoing clinical trials will lead the bio analytical & lab chemistry services. The factors driving the market growth are rising demand for early and accurate disease diagnosis and increasing global burden of target diseases. Nevertheless, rising development in new technologies for accurate and early disease diagnosis is expected to lead market growth over the forecast period 2021-2027. The rising prevalence of chronic diseases lead to increased awareness towards the early diagnosis of the disease will fuel the market growth. The country wise study comprises countries like UK, Germany, France, Italy and rest of Europe. The UK held the largest market share of Europe clinical laboratory services market and is likely to dominate the market over the estimated time frame.
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