According to a new report published by Grand View Research, increasing prevalence of chronic diseases and rising awareness among health-conscious population have fueled the growth of the global clinical laboratory tests industry.
Clinical Laboratory Tests Industry Overview
The global clinical laboratory tests market size was valued at USD 176.7 billion in 2019 and is expected to reach USD 304.9 billion by 2027, registering a CAGR of 7.1% over the forecast period. Increasing prevalence of chronic diseases and rising awareness among health-conscious population have fueled the growth of the overall market.
The demand for clinical laboratory tests is driven by growing investments in diagnosing target diseases such as cardiovascular disorders, tuberculosis, and diabetes. Clinical laboratory tests help diagnose diabetes mellitus. According to an article published by the International Diabetes Federation in 2019, around 463 million adults were living with diabetes, and by 2045 it is estimated to reach 700 million globally.
Gather more insights about the market drivers, restrains and growth of the Global Clinical Laboratory Tests Market
Increasing geriatric population is anticipated to drive the overall market for clinical laboratory tests. According to the data published by the World Population Prospects: the 2019 Revision, around one in 11 people were aged over 65 years in 2019, and by 2050, it is estimated that approximately one in 6 people in the world will be aged 65 years and above. Clinical laboratory tests are increasingly used to diagnose age-related diseases.
Moreover, growing rate of insufficient exercise, consumption of unhealthy food, and the subsequent rise in cases of obesity are expected to increase the prevalence of various chronic diseases. Rising awareness of the necessity of regular body profiling among healthcare professionals and patients globally is expected to increase the demand for clinical laboratory tests.
Clinical Laboratory Tests Market Segmentation
Based on the Type Insights, the market is segmented into Complete blood count, HGB/HCT, Basic metabolic panel, BUN creatinine tests, Electrolytes testing, HbA1c tests, Comprehensive metabolic panel, Liver panel, Renal panel, Lipid panel.
Based on the End-use Insights, the market is segmented Central Laboratories and Primary Clinics.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Browse through Grand View Researchs Clinical Diagnostics IndustryResearch Reports.
Market Share Insights
Key Companies Profile:
Key companies are focusing on strategic partnerships, mergers, and acquisitions to increase their presence in the market for clinical laboratory tests.
Order a free sample PDF of the Clinical Laboratory Tests Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/clinical-laboratory-tests-market
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Clinical Laboratory Tests Market To Witness Revenue Surge Reaching $304.9 Billion By 2027, Driven By Rising Investments in Diagnosing Target Diseases...
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