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 laboratory which gives information about the health of a patient to aid in diagnosis, treatment and prevention of diseases on the basis of tests that are carried out on clinical specimens is known as clinical laboratory services. This service involve testing of specimens from the body such as blood or urine. This clinical laboratory services are available in hospitals and physician offices and also it is available in independent labs. The clinical laboratory services plays key role in delivery of quality health care. This also helps to manage or monitor a patient’s condition.
The United States clinical laboratory services market has been seeing incredible growth from the past few decades. The primary factors that supplementing the clinical laboratory services market growth are existence of advanced healthcare infrastructure and highly spreading and increasing availability of lab experts and technicians. Besides this, growing public-private investments as well as research funding & grants to develop innovative laboratory testing procedures will fuel the market growth in US in upcoming years. Nevertheless, pricing pressure faced by healthcare payers and providers and procedural shift from lab-based diagnosis to home-based 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 positively affect the clinical laboratory services market.
The study analyses United States Clinical Laboratory Services Market based on test type, provider and application.
The different test type in clinical laboratory services market is bifurcated into human & tumor genetics, clinical chemistry, medical microbiology and cytology and other esoteric tests. The clinical chemistry segment is expected to account for the largest share of the market owing to, development of numerous government as well as private clinical chemistry tests labs as well as tests. Nevertheless, emergence of point-of-care testing methods will lead the market in upcoming years. Also early screening of diseases will fuel market growth.
Based on the providers involve in clinical laboratory services market are classified 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 requirement for early disease detection as well as increasing automation & digitalization of diagnostic laboratories across US will sows the market growth. Likewise, 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 wide application in various fields 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. Out of these, the bio analytical & lab chemistry services held the largest clinical laboratory services market share in the past because of the increasing 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 fuel the growth of this market.
The major key players of market includes Mayo Medical Laboratories , Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Spectra Laboratories Inc., DaVita Healthcare Partners, Bio-Reference Laboratories, OPKO Health, Inc, Abbott, Charles River Laboratories International, Inc., Cinven, Arup laboratories, NeoGenomics Laboratories, Fresenius Medical Care and Viapath Group LLP.
Recent Developments
September 2020: KeyOptions has launched 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.
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 United States clinical laboratory services market based on test type, provider and application. The medical device testing plays vital role to ensure the accurate diagnosis and treatment of diseases. The market finds 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 rising demand for early and accurate disease diagnosis and increasing global burden of target diseases are the major factors that driving market growth. Nevertheless, rising development in new technologies for accurate and early disease diagnosis is expected to impede 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.
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