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Clinical Laboratory Tests Market Driven by Demand for Molecular, Pathological and Immunological Testing

By LabMedica International staff writers
Posted on 17 Dec 2021
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The global clinical laboratory tests market is expected to surpass USD 327 billion by 2028, driven by a growing geriatric population and increasing molecular, pathological, and immunological tests.

These are the latest findings of Reports and Data (New York City, NY, USA), a market research and consulting company.

Rising prevalence of chronic and acute diseases globally, growing geriatric populace worldwide, increasing health awareness among people, and escalating need for early and accurate disease diagnosis are key factors expected to propel market growth. In addition, rising prevalence of target diseases, such as tuberculosis and diabetes, and cardiovascular disorders, growing awareness about regular body profiling, and increasing demand for molecular, pathological, and immunological testing are expected to further stimulate revenue growth. Strict government norms regarding clinical laboratory testing are expected to create further opportunities for the growth of the global clinical laboratory tests market.

Clinical laboratory tests refer to various medical tests performed in a laboratory to gain information about the health condition of a patient by using their blood or urine samples. These tests aid in the accurate diagnosis and prognosis of patients’ medical condition. The principal areas of clinical laboratory testing include clinical microbiology, clinical chemistry, hematology, DNA testing, and reproductive biology tests. Some of the commonly used clinical laboratory tests are Complete Blood Count (CBC), comprehensive metabolic panel, basic metabolic panel, liver panel, lipid panel, HbA1c, HGB/HCT, urinalysis, and thyroid stimulating hormone. Increasing government and private investments to develop advanced laboratory testing procedures, rapid adoption of highly advanced clinical diagnostic techniques, and increasing patient-centric approaches toward management of chronic and viral diseases are other significant factors expected to drive market growth.

Based on test type, the basic metabolic tests segment is expected to hold the highest share of the global clinical laboratory tests market over the coming years, due to rising prevalence of lifestyle-induced diseases such as cardiovascular disorders and growing health awareness among people globally. Based on stand-alone laboratories, the service provider segment is expected to record the fastest revenue growth, driven by the rising prevalence of chronic and acute diseases, profoundly increasing patient pool, growing demand for technologically advanced laboratory equipment, and increasing need for rapid and accurate test results. Geographically, North America is expected to lead the global clinical laboratory tests market owing to its growing geriatric population, rising volumes of laboratory tests, and increasing adoption of state-of-the-art clinical diagnostic procedures. The North American clinical laboratory tests market is expected to gain further momentum in the coming years due to the rapidly advancing healthcare infrastructure in the region.

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