Abbott, Laboratory Corporation of America Holdings, and Quest Diagnostics Incorporated dominated the Philippines Clinical Laboratory Services Market in 2020

Philippines Clinical Laboratory Services Market is expected to grow with a CAGR of 6.2% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below.

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Philippines clinical laboratory services market is a highly consolidated market, including a specific number of key players. The market has witnessed increased strategic developments owing to favorable market scenarios.    

Major players in the Philippines clinical laboratory services market are introducing a strong range of product providers, launching new products, and adopting strategic initiatives such as mergers, partnerships, and agreements. This helped companies to maximize sales with an enhanced product portfolio.

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 the company's 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.

Abbott is the dominating player in the Philippines clinical laboratory services market. The other key players in the market include Eurofins Scientific, Siemens Healthcare GmbH, Charles River Laboratories, Laboratory Corporation of America Holdings, Labserve Inc., Medi Linx Laboratory, Inc., Syneos Health, Mayon Clinical Laboratories, Keralty, Quest Diagnostics Incorporated, and SGS SA, among others.

Philippines Clinical Laboratory Services MarketAbbott

Abbott was founded in the year 1888,  and it has headquarters in Illinois, U.S. It has public ownership. The company engaged in creating breakthrough products– in diagnostics, medical devices, nutrition, and branded generic pharmaceuticals– that help the community lead healthier lives and make a lasting impact on health. The company has business segments such as Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices under which Diagnostic Products are the market-focused segment. Core Laboratory, Molecular, Point of Care, and Rapid Diagnostics are the company's product categories under which Rapid Diagnostics is the market-focused category.

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

The company has a wide presence across North America, South America, Europe, Asia-Pacific, Middle East, and South Africa. The company has various subsidiaries like Abbott Administration Inc (Delaware), Abbott Cardiovascular Systems Inc.(California), Abbott Home Infusion Services of New York, Inc.(New York), Abbott Laboratories (Puerto Rico) Incorporated, EAS Australia Pty Ltd (Australia), Abbott (Cambodia) LLC, Abbott Laboratories A/S(Denmark) among others.

Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings has headquarters in North Carolina, U.S., and was founded in 1995. It has public ownership. The company focuses on improving health and lives by providing world-class diagnostics accelerating the availability of innovative medicines by using technology to deliver the best care for the patients and the clients. The company has various business segments such as Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD), amongst which Labcorp Diagnostics (Dx) is the market-focused segment.

The service categories are Provider Services, Research, Analysis Services, Lead Optimization, Product Testing, Manufacturing Support, Toxicology, Safety Assessment and Testing, Consulting and Partnering, Clinical Development, Informatics, Clinical Testing, Commercialization. Amongst it Clinical Testing, Provider Services are the market-focused categories.

For instance,

  • In December 2020, Laboratory Corporation of America, a leading global life sciences company that is focused on advancing health and guiding patient care decisions, announced that the U.S. Food and Drug Administration (FDA) granted Emergency Use Authorization (EUA) for the Pixel by LabCorp COVID-19 Test Home Collection Kit to become the first to be available over the counter without requiring a prescription. With the first over-the-counter at-home collection kit ever authorized by the FDA for COVID-19, the company empowers people to learn about their health and make confident decisions. With this authorization, the company will help more people get tested, reduce the spread of the virus and improve the health of communities

The company has a wide presence across North America, Europe, Asia-Pacific, South America, and the Middle East, and Africa. The company has various subsidiaries such as Covance (U.S.), Pathology Associates Medical Laboratories (U.S.), Sequenom (U.S.), Medtox Laboratories, Inc (U.S.), and Esoterix Inc (U.S.), among others.

Quest Diagnostics Incorporated

Quest Diagnostics Incorporated was founded in 1967, has headquarters in New Jersey, U.S. The company is engaged in diagnostic insights and reveals new avenues to identify and treat disease, inspire healthy behaviours, and improve health care management. The company has several business segments such as Diagnostic Information Services and Diagnostic Services, under which Diagnostic Services is the market-focused segment. The service categories are Diagnostic Testing Services, Clinical Trials Testing, Healthcare IT and Wellness and Risk Management. The market-focused category is Diagnostic Testing Services.

For instance,

  • In October 2021, Quest Diagnostics Incorporated collaborated with Boston Athletic Association to provide Onsite COVID-19 Diagnostic Testing for the 125th Boston Marathon. This would help the company to strengthen its recognition across the globe

The company has a presence across North America and Asia-Pacific. The company has initiated many strategic initiatives to expand its market.