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The clinical laboratory services market size is estimated to grow at a CAGR of 10.25% between 2022 and 2027. The market size is forecast to increase by USD 147.44 billion. The growth of the market depends on several factors, including growth in the geriatric population, increasing prevalence of chronic diseases, and the advent of automation and laboratory robotics.
This clinical laboratory services market report extensively covers market segmentation by end-user (hospital-based laboratories, stand-alone laboratories, and clinic-based laboratories), application (bioanalytical and lab chemistry, toxicology testing, cell and gene therapy, preclinical and clinical trial, and others), and geography (North America, Europe, Asia, and Rest of World (ROW). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The advent of automation and laboratory robotics is notably driving the market growth, although factors such as the lack of skilled professionals may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The advent of automation and laboratory robotics is notably driving the market growth. Laboratory automation is a result of the development of laboratory robotics. Diagnostic and testing procedures are now more effective and efficient due to robotics. This is so that large-scale biorepositories, combinatorial chemistry, automated clinical and analytical testing, and high-throughput screening can all be done in automated laboratories. Clinical laboratories that are fully automated can offer high-quality results at reasonable prices. Advanced automated clinical laboratories can boost output, enhance the quality of experimental data, and shorten cycle times for laboratory processes.
Automation is also occurring in microbiology. Fully automated tools like DNA extractors and immunostainer platforms for anatomic pathology will propel the market for molecular diagnostics. Anatomic pathology and some molecular diagnostics procedures take a long time, cost a lot of money, and only work 82% of the time. However, automated tools can cut costs and time while increasing productivity by up to 95%. Clinical laboratories can manage the transfer of specimens between disciplines and produce results quickly with the aid of fully automated instruments. Thus, such factors will drive the growth of the global market during the forecast period.
The increasing adoption of preventive healthcare is an emerging trend influencing the market growth. The adoption of preventive healthcare is rising as a result of the rising prevalence of chronic diseases. Instead of treating diseases, preventive healthcare focuses on preventing them. It is possible to prevent disease due to routine medical examinations. The use of routine medical tests is also expanding. The main goal of routine checkups is to stop illnesses in their tracks. Depending on the patient's age and gender, doctors may advise routine medical tests. For instance, breast cancer is more likely to strike women between the ages of 38 and 42. As a result, it is advised that they undergo routine mammogram screening, which raises the demand for clinical laboratory services.
Additionally, more diseases are becoming contagious. Due to poor eating practices, people are more susceptible to bacterial and viral infections, which is driving the demand for tests for tropical diseases like malaria and TB. Furthermore, companies, particularly in nations like the US, also provide insurance for preventive healthcare. These programs cover disease prevention. Therefore, the increasing adoption of preventive healthcare will drive the growth of the global market during the forecast period.
The lack of skilled professionals is a major challenge impeding the market growth. Professionals in the field of clinical laboratory medicine are skilled, certified individuals who have received training in both its theoretical and applied components. These include molecular pathology, chemistry, microbiology, immunology, and blood banking. Clinical laboratory professionals can work as staff technologists, research technologists, managers, supervisors, or educators, among other positions. Clinical laboratory professionals make between 60% and 70% of all medical decisions involving hospital admissions, discharge, diagnosis, and treatment.
The majority of lab technicians and medical professionals are uninformed about technology's advantages. There is a lack of skilled personnel who can operate technologically cutting-edge diagnostic equipment. The likelihood of a false diagnosis rises due to a lack of expertise. As a result, it's crucial to train staff on how to use essential diagnostic tools. As the market is very competitive, a precise diagnosis is crucial. Thus, the lack of skilled professionals could affect the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Clinical Laboratory Services Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ARUP Laboratories - The company provides laboratory testing services for hospitals and health centers to serve the diagnostic needs of patients. The key offerings of the company include a broad test menu to support clinical trials related to molecular genetics, infectious disease, pain management, and others.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the hospital-based laboratories segment will be significant during the forecast period. Due to collaboration, hospital-based laboratories get references from big hospitals. Hospital-based laboratories dominated a major share of the market in 2020. To enhance operations, clinical laboratories collaborate with hospital laboratories. For instance, the San Francisco General Hospital and the UCSF Medical Centre collaborated.
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The hospital-based laboratories segment was valued at USD 75.75 billion in 2017 and continued to grow until 2021. Rapid diagnostics using cutting-edge technology gives results quickly. However, these tests need expensive apparatus. Real-time polymerase chain reaction (PCR) and peptide nucleic acid fluorescent in situ hybridization (PNA-FISH) tests are two examples of tests that hospitals outsource to cut costs. These tests shorten hospital stays and offer early, targeted therapy. Due to these benefits, HCPs are more likely to recommend such tests to clinical laboratories. Clinical laboratories benefit from increased customer traffic due to partnerships with hospitals. From straightforward educational and consulting support to high-end solutions, clinical laboratories provide a wide range of laboratory solutions. Along with these additional services, clinical laboratories also offer hospital outreach testing to increase physician-hospital connectivity, within-network sample transport, laboratory efficiency audits, quality improvement programs, staffing, information technology (IT) products, laboratory management, and support for couriers for operational benchmarking. Such collaborations are beneficial to both hospitals and clinical laboratories, which will drive the adoption of hospital-based clinical laboratories during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is evolving. This is mainly because chronic diseases like diabetes and cardiovascular disease are becoming more common. The US dominates the market in the region. This is a result of a widespread understanding of disease prevention and the advancement of quick diagnostics. The development of time- and money-saving diagnostic procedures is the main focus of vendors in the region. In the US, in vitro tests are also becoming more popular. This is caused by the rise in chronic diseases and diseases related to lifestyle. The emergence of laboratory automation, the move toward rapid diagnostic tests, and the rise in US Food and Drug Administration (FDA) approvals of new diagnostics procedures, such as microbial tests and human genetic tests, are propelling the market's expansion in the region.
The market is expanding due to the rise in corporate wellness initiatives as well as travel and tourism. The US has a large number of businesses that include healthcare benefits in their corporate wellness initiatives, which boosts demand for clinical laboratory services. The market is also expanding as a result of the rising demand for clinical laboratory services from governmental organizations for procedures like visa approval. Moreover, the number of research initiatives in the US has increased. This is due to the high potential of regenerative medicines. Funding has also increased for institutions like the Biomedical Advanced Research and Development Authority (BARDA) and the National Institutes of Health (NIH). These groups support the advancement of clinical trials and the creation of fresh medications for various illnesses. Hence, all these factors will drive the growth of the market in the region during the forecast period.
The outbreak of the COVID-19 pandemic positively impacted the market in North America in 2020. The growing number of COVID-19 cases placed a significant strain on local healthcare facilities and services. Labs consistently increased their testing capacity to keep up with the rising demand for COVID-19 testing. Thus, it is expected that the market in the region will witness growth during the forecast period.
The clinical laboratory services market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global clinical laboratory services market as a part of the global life sciences tools and services market. The parent, global life sciences tools and services market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, accessories, and consumables that are used for R&D on pharmaceuticals and biotechnology products and laboratory diagnosis of various diseases. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Clinical Laboratory Services Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.25% |
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Market growth 2023-2027 |
USD 147.44 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.91 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 38% |
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Key countries |
US, UK, Germany, China, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, AP Moller Holding AS, ARUP Laboratories, Bio Rad Laboratories Inc., Cerba HealthCare, Charles River Laboratories International Inc., Enzo Clinical Labs, Eurofins Scientific SE, Fresenius Medical Care AG and Co. KGaA, Genova Diagnostics Inc., HU Group Holdings Inc., Illumina Inc., Laboratory Corp. of America Holdings, NeoGenomics Laboratories Inc., OPKO Health Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens AG, Sonic Healthcare Ltd., and SYNLAB International GmbH |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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