Clinical Laboratory Service Market Size, Share & Trends Analysis Report By Test Type, By Service Provider, By Application And Segment Forecasts From 2022 To 2030

Report ID: MN17612969  |  Published: November 2022  |  No of Pages: 365
Format: Electronic (PDF)  |  Industry: Pharmaceuticals

The global clinical laboratory service market size is projected to reach USD 280.67 billion by 2030, advancing at a steady CAGR of 3.7% during the forecast period. The clinical laboratory setting witnesses pathology tests being performed on the collected clinical specimens in order to extract information regarding the health of the patient, and to make it easier to diagnose, prevent, and treat any diseases in the future. There has been a rapid growth in the incidence of chronic disorders globally, which has driven the demand for early diagnostic testing. Additionally, there has also been significant growth in the geriatric population, which has resulted in a higher frequency of disease occurrence. This is another important factor driving the industry’s growth.

Clinical diagnostic tests are considered to be highly accurate when it comes to identifying and characterizing various chronic disease biomarkers, along with detecting micro-organisms. According to World Health Organization data from October 2021, around 10 million people globally suffered from tuberculosis (TB), of which 56% were men and 33% were women. The widespread occurrence of such diseases has helped in highlighting the importance of clinical laboratory testing and services. Taking into account the high demand, there have been significant technological advances being made by companies involved in the market. Areas such as sample preparation and data management have witnessed substantial progress due to the consistently increasing testing sample volumes.

The clinical laboratory services market has been segmented based on test type, service provider, and application. The test types include clinical chemistry, human and tumor genetics, and medical microbiology & cytology, as well as other esoteric tests. While clinical chemistry contributed the highest revenue share in the global market in 2021, the human and tumor genetics segment is expected to advance at the fastest growth rate during the forecast period. Hospitals, clinics, and standalone facilities are notable providers of clinical laboratory services, with the hospital segment making the largest contribution to the industry revenue, while also advancing at the highest CAGR through 2030. The industry encompasses a variety of application areas, which include cell and gene therapy-related services, toxicology testing services, drug discovery and development-related services, bioanalytical and lab chemistry services, and preclinical & clinical trial-related services, among others.

The market has sufficiently expanded across the globe, with regions such as North America and Asia Pacific being notable revenue generators for companies. The population suffering from chronic illnesses is large in these regions due to the larger size of the geriatric population, while the regulatory scenario in the healthcare sector is also quite strong, thus making it ideal for providers to expand their clinical laboratory services. The COVID-19 pandemic impacted the industry greatly; although routine testing decreased during the very early pandemic phase, the imminent requirement to conduct testing for the population in order to combat the outbreak meant that the demand for rapid testing enhanced greatly in a short period of time. Companies involved in the clinical laboratory testing market utilize strategies such as acquisitions, geographical expansions, and partnerships with other companies in order to generate revenue and drive their growth.

Clinical Laboratory Service Market Report Key Takeaways

  • The growing population that is suffering from chronic disorders across the globe has led to increased demand for testing services to improve the diagnosis and treatment of diseases. For instance, as per Global Cancer Observatory Statistics 2020, around 19.3 million cancer cases were detected globally, which makes it critical that proper screening and testing procedures are available for people
  • With regards to the test type, the clinical chemistry segment dominated the market with over 54% revenue share in 2021, on account of the steadily growing need for pathology analysis. Many clinical chemistry tests are available for pathological body fluid analysis, including urine, serum, and plasma, among others
  • In terms of service provider, the hospital-based laboratories segment accounted for the largest revenue share of over 54% in 2021, aided by the high patient turnaround for the testing of severe and complex disorders; furthermore, an increasing number of hospitals have integrated high-end laboratories in their premises, thus addressing the increasing demand
  • Based on application, the bioanalytical & lab chemistry services segment dominated the market with a revenue share exceeding 51% in 2021; such laboratories utilize varied technologies such as chromatography, ELISA, mass spectroscopy, immunochemistry, and molecular biology in order to address diagnostic requirements
  • North America is a leading revenue-generating region for the market and is expected to remain dominant in the coming years. The increasing geriatric population in the region, as well as the presence of key players that are working towards offering innovative services, are the major factors for the regional expansion
  • Key companies have understood that innovative service offerings and geographical expansions present strong growth opportunities, and are accordingly making significant efforts to realize these strategies. For instance, Enzo Biochem, Inc. announced the expansion of its laboratory research facilities for life sciences in Farmingdale, New York, in October 2022


Clinical Laboratory Service Market Segments 

  • Clinical Laboratory Service Test Type Outlook (Revenue, USD Billion, 2018 - 2030)
    • Human & Tumor Genetics
    • Clinical Chemistry
    • Medical Microbiology & Cytology
    • Other Esoteric Tests
  • Clinical Laboratory Service Service Provider Outlook (Revenue, USD Billion, 2018 - 2030)
    • Hospital-based Laboratories
    • Stand-alone Laboratories
    • Clinic-based Laboratories
  • Clinical Laboratory Service Application Outlook (Revenue, USD Billion, 2018 - 2030)
    • Bioanalytical & Lab Chemistry Services
    • Toxicology Testing Services
    • Cell & Gene Therapy Related Services
    • Preclinical & Clinical Trial Related Services
    • Drug Discovery & Development Related Services
    • Other Clinical Laboratory Services
  • Clinical Laboratory Service Regional Outlook (Revenue, USD Billion, 2018 - 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Spain
      • Italy
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Colombia
      • Peru
      • Argentina
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE 
  • List of Key Players in the Clinical Laboratory Service Market
    • QIAGEN
    • Quest Diagnostics Inc.
    • OPKO Health, Inc.
    • Abbott
    • Siemens Medical Solutions USA, Inc.
    • NeoGenomics Laboratories
    • Fresenius Medical Care
    • ARUP Laboratories
    • Sonic Healthcare
    • Laboratory Corp. of America Holdings (LabCorp)
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