Philippines Clinical Laboratory Services Market is Expected to Grow at 5.2% CAGR in the Forecast Period of 2021 to 2028

Philippines Clinical Laboratory Services Market is growing due to the growing acceptance of point-of-care testing solutions, driving the market's growth. The growing adoption of digital pathology platforms and rising collaborations, partnerships among players are also propelling the growth of the Philippines clinical laboratory services market. However, inadequate reimbursement policies may hamper the growth of the market.

Philippines Clinical Laboratory Services Market Scenario

According to Data Bridge Market Research, the Philippines clinical laboratory services market has a market share of 14.75%. The market leaders are Abbott which accounts for an estimated market share of approximately 1.09%.

For instance,

  • In June 2021, Abbott announced it had received CE Mark and Health Canada approval for its Amplatzer Steerable Delivery Sheath, which is used with its market-leading Amplatzer Amulet Left Atrial Appendage (LAA) Occluder. Abbott's Amplatzer Amulet has long been the LAA occlusion device of choice in Europe and Canada to reduce the risk of stroke and eliminate the need for blood-thinning medication in patients with atrial fibrillation. This innovation advances the performance of companies Amplatzer Amulet device and offers patients a much-needed treatment option to help manage stroke risk from atrial fibrillation

Philippines Clinical Laboratory Services Market Trends Impacting the Market

Now the question is which other regions Abbott, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated are targeting? Data Bridge Market Research has estimated a large growth in the Philippines clinical laboratory services market.

Philippines clinical laboratory services market is becoming more competitive with companies such as Abbott, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated. They are the top dominating companies in the Philippines clinical laboratory services market having maximum number of services. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the Philippines clinical laboratory services market.   

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Philippines Clinical Laboratory Services Market Developments

  • In February 2021, Charles River announced a strategic partnership with Kibur Medical to offer exclusive access to its implantable microdevice (IMD) for in vivo preclinical oncology studies. The company is proud to partner with Kibur Medical to help advance its oncology service offering
  • In May 2021, Laboratory Corporation of America, the globally leading company in life sciences, declared that it entered into a conclusive agreement for acquiring select operating assets and intellectual property (IP) from the Myriad Genetics autoimmune business unit, which includes the Vectra rheumatoid arthritis (RA) assay. In addition to the Vectra testing abilities, the company’s in-house goods offer incredible potential for expanding the availability of tests and making LabCorp a single-source diagnostics solution for RA suppliers

Scope of Philippines Clinical Laboratory Services Market

Philippines clinical laboratory services market is segmented into four segments based on service type, specialty, provider, and application.

  • On the basis of service type, the Philippines clinical laboratory services market is segmented into routine testing services, esoteric services, and anatomic pathology services. On the basis of specialty, the Philippines clinical laboratory services market is segmented into clinical chemistry testing, microbiology testing, haematology testing, genetic testing, drugs of abuse testing, and immunology testing. On the basis of provider, the Philippines clinical laboratory services market is segmented into independent and reference laboratories, hospital-based laboratories, clinical-based laboratories, and nursing and physician office-based laboratories. On the basis of application, the Philippines clinical laboratory services market is segmented into drug discovery related services, drug development related services, bioanalytical and lab chemistry services, toxicology testing services, cell and gene therapy related services, preclinical and clinical trial related services, and other clinical laboratory services.

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Key Pointers Covered in Philippines Clinical Laboratory Services Industry Trends and Forecast to 2028

  • Market Size
  • Top to Bottom Market Analysis
  • Recent Developments for Market Competitors
  • Recent Market Value for Different Countries

Key Market Competitors Covered in the Report

The key market players for the Philippines clinical laboratory services market are listed below:

  • Eurofins Scientific
  • Siemens Healthcare GmbH
  • Abbott
  • Charles River Laboratories
  • Laboratory Corporation of America Holdings
  • Labserve Inc.
  • Mayon Clinical Laboratories
  • Quest Diagnostics Incorporated
  • Medi Linx Laboratory, Inc.
  • Parahita Diagnostic Center
  • CITO Clinical Laboratory
  • Brianet
  • SGS SA
  • Syneos Health
  • Prodia
  • Keralty

Research Methodology: Philippines Clinical Laboratory Services Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report.

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The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market timeline analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Clinicians, Healthcare Professionals, Researchers, Academicians.
  • Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers, among others.

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