In the clinical laboratory tests are carried out on specimens from the body such as blood or urine to obtain information about the health of a patient to aid in treatment and prevention of diseases. Through clinical laboratory services diagnosis of diseases can be done for better treatment. These services are delivered by labs located in hospitals and physician offices, as well as by independent labs. The clinical laboratory services include testing material, tissues obtained from a patient or through clinical studies to determine cause as well as nature of diseases.

MARKET DYNAMIC - CLINICAL LABORATORY SERVICES MARKET

The clinical laboratory services market has been seeing tremendous growth from the past few decades. The primary growth factors behind the market growth are increasing global burden of target diseases, growing public-private investments as well as research funding grants to develop innovative laboratory testing procedures. Likewise, rising government initiatives to improve the quality and affordability of clinical diagnostic testing procedures will boosts the market growth in upcoming years. Nevertheless, pricing pressure faced by healthcare payers and providers is the major restraining factor that could hamper the growth of the market.

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COVID 19 IMPACT ON CLINICAL LABORATORY SERVICES MARKET REPORT 

Due to COVID 19 outbreak trends towards clinical laboratories is increases which will lead to rise in demand for various clinical laboratory services will boost the market growth. Increasing awareness in population towards laboratory tests related to COVID 19 diagnostics and management will drive the market growth. Various diagnosis tests are perform for accurate diagnosis of COVID 19 hence demand for clinical laboratory services has increased. Due to this scenario, COVID 19 positively affect the clinical laboratory services market.

CLINICAL LABORATORY SERVICES MARKET SEGMENTAL OVERVIEW

The study analyses global Clinical Laboratory Services Market based on test type, provider, application and geography. 

CLINICAL LABORATORY SERVICES MARKET BY TEST TYPE

Based on the test type clinical laboratory services market is segmented into human tumor genetics, clinical chemistry, medical microbiology and cytology and other esoteric tests. The clinical chemistry segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The factors responsible for the segmental growth are growing numerous clinical chemistry tests and the emergence of point-of-care testing methods. The human tumor genetics is the second leading segment in the market owing to, rising demand for early cancer screening.

CLINICAL LABORATORY SERVICES MARKET BY PROVIDER

The various providers involve in clinical laboratory services market are bifurcated into independent and reference laboratories, hospital-based laboratories; and nursing and physician office-based laboratories. The independent and reference laboratories are expected to account for the largest share of the market owing to, increasing automation digitalization of diagnostic laboratories across major countries. Besides this, efforts to improve patient outcomes by providing diagnostic facilities at the retail level will drive the market in upcoming years.

CLINICAL LABORATORY SERVICES MARKET BY APPLICATION

The clinical laboratory services market finds its application in bio analytical lab chemistry services, toxicology testing services, cell gene therapy related services, preclinical clinical trial related services, drug Discovery development related services and others. The bio analytical and lab chemistry services segment leads the market in 2020. The increasing number of investigational drugs undergoing clinical trials for checking their efficacy and safety as well as rising number of novel drug candidates participating in clinical trials will act as a driving factor for the growth of this market.

CLINICAL LABORATORY SERVICES MARKET BY GEOGRAPHY

Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, Latin America, Middle East Africa and Rest of the World. North America held the largest market share of global clinical laboratory services market owing to, increased investment in research and development clinical laboratory services technologies. Nevertheless, the rising prevalence of chronic diseases in North America will fuel the market growth.

CLINICAL LABORATORY SERVICES MARKET KEY PLAYERS

The major key players of market includes Mayo Medical Laboratories , Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Spectra Laboratories Inc., DaVita Healthcare Partners, Eurofins Scientific, Unilabs, SYNLAB International, Bio-Reference Laboratories, Sonic Healthcare, and Cerba HealthCare, OPKO Health, Inc, Abbott, Charles River Laboratories International, Inc., Cinven, Arup laboratories, NeoGenomics Laboratories, Fresenius Medical Care and Viapath Group LLP.

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