Global Clinical Laboratory Services Market Is Expected to Grow Usd 248.5 Bn by 2022: Credence Research

The latest market report published by Credence Research, Inc. “Global Clinical Laboratory Services Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2022,” the clinical laboratory services market was valued at USD 165.8 Bn in 2015, and is expected to reach USD 248.5 Mn by 2022, expanding at a CAGR of 5.9% from 2016 to 2022.

Browse the full report Clinical Laboratory Services Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/clinical-laboratory-services-market

Market Insights

The clinical diagnostic tests performed by laboratories can be broadly classified into four major categories, namely, clinical chemistry, medical microbiology & cytology, human and tumor genetics and other esoteric tests. Ranging from routine blood and urine tests to high-end genetic analysis including fluorescence in situ hybridization (FISH), molecular expression testing, etc., clinical laboratories offer numerous tests that help detect disease progression and abnormalities. The three major types of service providers in this market include hospital-based laboratories, clinic-based laboratories and stand-alone laboratories. With the increasing incidence rates of debilitating conditions such as cancer, diabetes and infectious diseases, the number of patients that will opt for such tests will continue to increase in the future and thereby increase the demand for these services. Moreover, the percentage of aged population in the U.S. is expected to grow to an estimated 20% by 2030. Such a large population of elderly people in the U.S. alone will lead to high testing volumes for clinical laboratories. Diagnostics manufacturers such as Roche Holdings, Genomic Health, Abbott Diagnostics, Qiagen, etc. are focusing their efforts towards developing products and systems that would enable highly accurate analysis of patient samples and also enable processing of thousands of...