Medical Health & Life Science Research News

Clinical laboratory testing market scrutinized in new research

Medical Market Research

The US clinical laboratories are a full service reference laboratories performing routine and specialized diagnostic testing service for physicians and patients.

US represents an attractive destination for healthcare services’ market segments, especially clinical lab testing, which has evolved as a major source of decisive factor for healthcare professionals and that too despite garnering a low proportion of total medical spending.

It is estimated that the market for clinical lab testing in the US is poised to witness healthy growth backed by factors such as aging population, active private sector participation, and rising awareness level. With the emergence of new technologies, the market is likely to register further to an optimum CAGR in future.

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Currently, the market is dominated by clinical chemistry tests, followed by human & tumor genomics. The future, however, holds significant promise for human and tumor genomics testing.

The future growth in this segment is driven by strong growth in personalized laboratory testing on tumor tissues and other key factors. The report, in this context, offers effective information and analysis on the market landscape for key tests type, with special emphasis on their future performance.

Moreover, the report provides the current and future market for different types of tests. The report also divides the market on the basis of types of labs into hospital based laboratories, physician laboratories, and independent laboratories.

The physician laboratories accounted for the largest share in the US clinical laboratory testing market in 2016. 

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The US market for clinical laboratory diagnostics is highly fragmented, with large number of labs offering services in different states of the country. Some players, however, have leading edge in comparison to other companies.

Quest diagnostics, LabCorp and Sonic Healthcare are the key independent laboratories that have augmented their reach in the market with proper focus on consolidation activities. Our report entitled “US Clinical Laboratory Testing Market By Type of Test (Tumor, Clinical Chemistry, Microbiology, Esoteric), By Type of Lab (Hospital, Physician, Independent), & By Type of Diseases (Tuberculosis, Influenza, Cancer, HIV/AIDS etc.), Forecast to 2022” provides an in-depth insight into the operations, services, financial performance of the key players in order to gauge their attractiveness in terms of investment and future participation in the market.

Overall, the report is likely to be proved beneficial for all those entities who want to enter the market, or make decisions regarding investment.

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