Laboratory Corporation of America Holdings, Mayo Foundation for Medical Education and Research (MFMER) and DaVita Inc. are Dominating the Global Clinical Laboratory Services Market in 2021

Global Clinical Laboratory Services Market is expected to grow with the CAGR of 7.2% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global clinical laboratory services market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.   

The major players dealing in global clinical laboratory services market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance:

  • In July 2021, Labcorp, a leading global life sciences company, announced the availability of therascreen® KRAS PCR Mutation Analysis, a companion diagnostic to identify patients with non-small cell lung cancer (NSCLC) who are eligible for treatment with LUMAKRAS™ (sotorasib), a new treatment option developed by Amgen. Labcorp’s oncology platform brings together the company’s leadership in diagnostic testing with its comprehensive drug development services, helping to pioneer scientific breakthroughs like the KRAS companion diagnostic to identify patients eligible for cutting-edge targeted therapies.

Laboratory Corporation of America Holdings is the dominating player in global clinical laboratory services market. The other key players existing in the market are Mayo Foundation for Medical Education and Research (MFMER), DaVita Inc., Quest Diagnostics Incorporated, Eurofins Scientific, UNILABS, SYNLAB International GmbH, H.U. Groups Holdings, Inc., Sonic Healthcare Limited, ACM Global Laboratories, Amedes Holding GmbH, LifeLabs, Abbott, Charles River Laboratories, Siemens Healthcare GmbH, BioReference Laboratories (A subsidiary of Opko Health, Inc.), NeoGenomics Laboratories, KingMed Diagnostics Group Co., Ltd., Genomic Health and ARUP Laboratories among others.

Clinical Laboratory Services Market Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings is headquartered in North Carolina, U.S. and was founded in 1995. The company focuses on improving the health and lives by providing world-class diagnostics accelerating the availability of innovative medicines by using technology to deliver best care for the patients and the clients. The company operates its business through several business segments that are LabCorp Diagnostics and Covance Drug Development in which LabCorp Diagnostics and Covance Drug Development are the market focused segments. The company has wide product categories such as provider services, research, analysis services, lead optimization, product testing, manufacturing support, toxicology, safety assessment and testing, consulting & partnering, clinical development, informatics, clinical testing and commercialization, in which clinical testing and provider services is the market focused category. The company is attaining lucrative growth through several strategic initiatives.  

For instance,

  • In May 2021, Labcorp, a leading global life sciences company, announced the expansion of its drug development offering in the Asia-Pacific region with the addition of bioanalytical services in Singapore. Singapore is a crucial region for strengthening Labcorp’s extensive global presence, offering clients both in-region and international, a complementary site to support their bioanalytical studies. Company is thrilled to expand services in this area and enhance the options available to those it serves

The company has wide presence across U.S. The company also has various subsidiary companies such as Covance (U.S.), Pathology Associates Medical Laboratories (U.S.), Sequenom (U.S.), Medtox Laboratories, Inc., and Esoterix Inc. (U.S.) among others.

Mayo Foundation for Medical Education and Research (MFMER)

Mayo Foundation for Medical Education and Research (MFMER) is headquartered in Minnesota, U.S. The company focuses on providing well-being and health to each patient by the means of integrated clinical practices. The company has wide product categories such as light protein tests, microbiology culture tests and category A infectious substances, in which microbiology culture tests is the market focused product. The company is attaining lucrative growth through several strategic initiatives.  

  • In July 2021, Research by investigators at Mayo Clinic Cancer Center suggested that physicians should screen patients with lung cancer for MET amplification/overexpression before determining a treatment strategy. Study suggests that patients with a MET oncogene amplification will not respond to immunotherapy alone and will require treatment with a combination of a MET inhibitor together with immunotherapy

The company has wide presence across North America, Europe, and Middle East and Africa.

DaVita Inc.

DaVita Inc. is headquartered in Colorado, U.S. The company focuses on elevating the health and quality of life of patients around the world and continue to expand operations to improve access to healthcare. The company has various product categories that are education, diet & nutrition, treatment & services and tools, in which treatment & services is the market focused products. The company is attaining lucrative growth through several strategic initiatives.

For instance,

  • In June 2021, DaVita Kidney Care and the National Kidney Foundation (NKF), announced their collaboration in launching an innovative, yearlong pilot aimed at improving health equity in kidney transplantation with a newly-developed program within NKF’s THE BIG ASK: THE BIG GIVE platform

The company has presence across North America. The company also has various subsidiary companies such as Astro, Hobby, West Mt. Renal Care (Germany), Austin Dialysis Centres, L.P. (Germany), Bay Area Dialysis (Liechtenstein), Beverly Hills Dialysis (Canada), and Bear Creek Dialysis, L.P. (Germany) among others.