North America 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 (U.S., Canada, Mexico), Market Trends and Forecast to 2027
Market Analysis and Insights: North America Clinical Laboratory Services Market
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 at a CAGR of 6.2% in the forecast period of 2020 to 2027 and expected to reach USD 88,068.08 million by 2027 from USD 54,291.40 million in 2019. Rising infectious diseases worldwide and advancement in clinical diagnostic methods is the major driver for the growth of the market.
Clinical laboratory services is playing significant role to enable doctors 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.
Rising demand for early and accurate disease diagnosis is expected to enhance the market growth. For instance, in 2019, American Society of Clinical Oncology (ASCO) projected that around 80,470 people (61,700 men and 18,770 women) in the U.S. will be diagnosed for bladder cancer and around 17,670 deaths (12,870 men and 4,800 women) will occur this year from bladder cancer.
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.
North America Clinical Laboratory Services Market Scope and Market Size
North America 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. According to the National Center for Chronic Disease Prevention and Health Promotion, in U.S. 6 in 10, adult have at least one chronic disease. Chronic diseases are one of the leading causes of death and disability and causes USD 3.5 trillion annual health care costs. The increased number of chronic disease demands the clinical chemistry testing.
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. As per the American Hospitals Association, in 2017, there are around 6200 active hospitals in the U.S.
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. The United States holds approximately 45 percent of the total pharmaceutical market. In 2016, U.S. holds approximately 446 billion USD. Most of the global top companies are from the United States.
Clinical Laboratory Services Market Country Level Analysis
North America 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 U.S, Canada and Mexico in North America.
North America is growing with a highest growth rate due to the increased number of geriatric population and increasing healthcare expenditure. The higher healthcare expenditure in U.S. and large number of research and development created an upsurge demand for the laboratory services. In the U.S. more than 4,000 different methods of diagnostic tests are available, and they are done nearby to 7,000 million times in each year.
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.
Strategic Initiatives by Market Players to Promote Clinical Laboratory Services
North America clinical laboratory services market also provides you with detailed market analysis for every country growth in installed base of different kind of products for clinical laboratory services market, impact of technology using life line curves and changes in life science regulatory scenarios and their impact on the clinical laboratory services market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Clinical Laboratory Services Market Share Analysis
North America 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, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America clinical laboratory services market.
The major players covered in the report are Siemens Healthineers AG, Spectra Laboratories (A Subsidiary Of Fresenius Medical Care AG & CO. KGAA), Davita INC., Laboratory Corporation OF America, Mayo Foundation for Medical Education and Research, Quest Diagnostics Incorporated, Sonic Healthcare, Abbott, Charles River, ACM Global Laboratories, Bioreference Laboratories, Inc. (A Subsidiary of OPKO Health, INC.), Eurofins Scientific, Genomic Health, Lifelabs, Miraca Holdings Inc., Neogenomics Laboratories, INC, Unilabs, among other players domestic and global. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In July 2019, NeoGenomics, a leading provider of cancer-focused genetic testing services announced to build art oncology laboratory at Fort Myers, Florida The new facility, which will be located on a 14 acre parcel of land close to the intersection of Alico Road and Three Oaks Parkway, is expected to open in 2021.This will help company to expand their business in the market.
- 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, collaboration 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 : North America Clinical Laboratory Services Market
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