Asia-Pacific Clinical Laboratory Services Market By Specialty (Clinical Chemistry Testing, Hematology Testing, Microbiology Testing, Immunology Testing, Drugs of Abuse Testing, Cytology Testing, Genetic Testing), Provider (Hospital-Based Laboratories, Independent & Reference Laboratories, Nursing and Physician Office-Based Laboratories), Application (Bioanalytical & Lab Chemistry Services, Drug Development Related Services, Drug Discovery Related Services, Toxicology Testing Services, Cell & Gene Therapy Related Services, Preclinical & Clinical Trial Related Services, Other Clinical Laboratory Services), Country (China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia Pacific), Market Trends and Forecast to 2027
Market Analysis and Insights: Asia-Pacific Clinical Laboratory Services Market
Asia-Pacific clinical laboratory services market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge market research analyses that the market is growing with a stronger CAGR of 7.4% in the forecast period of 2020 to 2027 and expected to reach USD 55,591.39 million by 2027 from USD 31,477.64 million in 2019. Development in database management tools and wide acceptance of point-of-care (POC) testing solutions is the factors for the market growth.
Clinical laboratory services are playing noteworthy part to allow clinicians to make appropriate clinical and diagnostic decisions across various levels of health care services. Increasing demand for diagnostic tests is augmenting the market growth as they are used for clinical diagnoses tests.
Clinical laboratory services demand has been increased with rising infectious diseases worldwide as compared to the past few years will accelerate the market growth. Clinical diagnostic advancement methods are used for diagnoses of diseases in the clinical laboratory. For instance, technological advancement in the clinical diagnostic methods have made diagnostic tests easier to use and more accurate as well as also led to more precise as well as more timely reports. Development in database management tools and wide acceptance of point-of-care (POC) testing solutions will also drive the market. Lack of skilled and certified professionals will hamper the clinical laboratory services market as which further creates new opportunities for clinical laboratory services with growing adoption of digital pathology platforms. Such policies support clinical laboratory services market growth in the forecast period to 2027.
This clinical laboratory services market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Clinical Laboratory Services Market Scope and Market Size
Asia-Pacific clinical laboratory services market is segmented of the basis of specialty, provider and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on specialty, the market is segmented into clinical chemistry testing, microbiology testing, hematology testing, immunology testing, cytology testing, genetic testing and drugs of abuse testing. The clinical chemistry testing segment is dominating the market due to the growing cases of chronic diseases such as liver diseases, cardiovascular diseases and blood disorders which are increasing the demand to use clinical chemistry services. Additionally, the increasing demand of point of care testing solutions which is used for the fast diagnosis of the disease is expected to help the market to growth significantly. In China alone, the diabetes rates are increased by more than 50%, in 2000, from 4,206 prevalent cases per 100,000 to in 2017, 6,336 prevalent cases.
Based on provider, the market is segmented into independent & reference laboratories, hospital-based laboratories, nursing and physician office-based laboratories. The hospital-based laboratories segment is dominating the market due to increasing cases of injuries in the hospitals which leads to the high patient volumes and high test demand. Additionally, in China the total number of hospitals has increased expressively in the past few decades and in China 33 thousand hospitals are present in 2018.
Based on application, the market is segmented into drug discovery related services, drug development related services, bioanalytical & lab chemistry services, toxicology testing services, cell & gene therapy related services, and preclinical & clinical trial related services and other clinical laboratory services. Bioanalytical & lab chemistry services segment is dominating the market because bioanalysis is an important factor in drug discovery and development. China is the global manufacturing hub, is increasingly shifting to a higher-quality and more developed economy. The fast growing aging Chinese society and consequently growing demands for medical services offer a variety of prospects for the country’s pharmaceutical market.
Clinical Laboratory Services Market Country Level Analysis
Asia-Pacific clinical laboratory services market is analysed and market size information is provided by country by specialty, provider and application as referenced above.
The countries covered in the clinical laboratory services market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific.
Asia-Pacific is growing with a highest growth rate due to the increased number of geriatric population and increasing healthcare expenditure. The rising number of aging population in China has created an upsurge demand for the medical services. According to the TIME USA, LLC statistics, 330 million Chinese population will be over age 65 by 2050. The morbidity related to the chronic diseases is expected reach to almost 20%, which denotes almost 270 million patients in total and 17 million incidence numbers per year; which need new and high-costing lab-tests and lifelong treatment along with consistent lab-tested monitoring.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Adoption of Digital Pathology Platforms in Clinical Laboratory Services Market
Asia-Pacific clinical laboratory services market also provides you with detailed market analysis for every country growth in life science industry with clinical laboratory services sales, components sales, impact of technological development in clinical laboratory services and changes in regulatory scenarios with their support for the clinical laboratory services market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Clinical Laboratory Services Market Share Analysis
Asia-Pacific clinical laboratory services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to Asia-Pacific clinical laboratory services market.
The major players covered in the report are Quest Diagnostics Incorporated, Spectra Laboratories (A Subsidiary of Fresenius Medical Care AG & Co. KGaA), Eurofins Scientific, MIRACA HOLDINGS Inc., Sonic Healthcare, ACM Global Laboratories, Alere (A Subsidiary of Abbott), Charles River, Siemens Healthineers AG, NeoGenomics Laboratories, Inc., KingMed Diagnostics, Genomic Health among other players in Asia-Pacific. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In July 2019, a new pharma services laboratory in Singapore was inaugurated by the NeoGenomics in order to expand its clinical trial to expand in AsiaPacific region. Through this expansion, NeoGenomics capitalizes in PPD’s present lab service offerings in Singapore along with China as per companies established plan.
- In November 2018, Miraca Holdings Inc. has announced that two of its "PLANET NEXT" and "curon" systems have been integrated by its subsidiary SRL Inc. and MICIN Inc. This collaboration helps clinicians to prescribe and provide video-and chat-function patient evaluations when analysing test results from the PLANET NEXT interface. With this collaboration, the company will expand its business as well as its market size.
Partnership, expansion and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for clinical laboratory services through expanded model range.
Customization Available : Asia-Pacific Clinical Laboratory Services Market
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