Market Synopsis of Clinical reference laboratories Market:
Globally the market for Clinical reference laboratories is growing steadily and has a bright future. Globally the market for Clinical reference laboratories is expected to grow at the rate of about 5.8 % from 2016 to 2027. The global Clinical reference laboratory market has been evaluated as progressively growing market and it is expected that the market will continue to grow similarly in the near future.
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The adoption of the value based services has gained the pace as the hospitals nowadays have started outsourcing some part or even all of their pathology and radiology diagnostic services. One of the reason for increased outsourcing by hospitals is that the hospital budgets are becoming constrained as a result of declining Medicare reimbursements. The cut down in clinical lab reimbursement rates under Medicare have a profound impact on the U.S. lab industry.
It was not limited to the direct billings, but the U.S. clinical labs that depends on Medicare for close to 20% of billings and for certain communities it is as high as 80% of business that got affected. In continuous efforts to protect the hospitals bottom line, many hospital CEOs are turning to outsource various value based services, various companies are rising to offer these diagnostic outsourcing contracts from hospitals. Hence, the increasing value based outsourcing from hospitals has enhanced the market for these independent reference laboratory services.
Furthermore investments in laboratory services has demonstrated lucrative in enhancing patient care as well as in delivering the much preferred ‘efficiencies’. Technology capable of performing repetitive activities at moderately high speed has developed to improve quality, consistency and effectiveness. The result of tests on samples that used to take hours to process can now be found in a matter of minutes. Automation in the laboratory has a significant impact in microbiology and histopathology. The most significant innovation is the development of genetics and molecular technologies into mainstream medicine which will have substantial impact on the health of the population, clinical practice and the management of patients
Competitive Players:
Some of the key players in this market are: Laboratory Corporation of America, KingMed Diagnostics, Aurora Diagnostics, Sonic HealthCare Limited, Synlab International GmbH, Bioreference Laboratories, Unilabs, Clinical Reference Laboratory, ARUP Laboratories, Quest Diagnostics and others.
Segmentations:
Clinical reference laboratories market has been segmented on the basis of service providers which comprises of Stand Alone, Hospital Based and Clinical Based. On the basis of applications which comprises of Laboratory medicine, clinical trials and others.
Geographical Overview:
Depending on geographic region, Clinical reference laboratory market is segmented into four key regions: America, Europe, Asia-Pacific, and Middle East & Africa. Globally America is the largest market for Clinical reference laboratory. North American region is the leading market in the America region with countries like United States and Canada playing a major role in the industry. Europe is the second-largest market globally for Clinical reference laboratory which is expected to continue its growth in the near future. Asia pacific region is expected to be fastest growing region in Clinical reference laboratory market.
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Key Finding
- The Clinical reference laboratories global market is expected to reach $247 billion by 2027.
- Hospital based segment holds the largest share of around 45% of the market.
- North America holds the largest market share of ~47%% of Clinical reference laboratories market and is anticipated to reach $115 billion by the end of forecast period.
- Globally, Europe and Asia-Pacific are expected to be fastest growing region and are anticipated to grow at the rate of ~6% during the forecast period.
Major TOC of Clinical Reference Laboratories Market Research Report- Global Forecast to 2027:
1 REPORT PROLOGUE
2 SCOPE OF STUDY
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
5 GLOBAL CLINICAL REFERENCE LABORATORIES MARKET, BY SERVICE PROVIDER
6 GLOBAL CLINICAL REFERENCE LABORATORIES MARKET, BY APPLICATIONS
7 GLOBAL CLINICAL REFERENCE LABORATORIES MARKET, BY REGION
8 COMPETITIVE LANDSCAPE
9 COMPANY PROFILES
List of Tables:
TABLE 1 GLOBAL CLINICAL REFERENCE LABORATORY MARKET BY SERVICE PROVIDER USD MILLION 20
TABLE 2 GLOBAL CLINICAL REFERENCE LABORATORY MARKET FOR STAND ALONE SEGMENT BY REGION USD MILLION 21
TABLE 3 GLOBAL CLINICAL REFERENCE LABORATORY MARKET FOR HOSPITAL BASED SEGMENT BY REGION USD MILLION 22
TABLE 4 GLOBAL CLINICAL REFERENCE LABORATORY MARKET FOR CLINICAL BASED SEGMENT BY REGION USD MILLION 23
TABLE 5 GLOBAL CLINICAL REFERENCE LABORATORY MARKET BY APPLICATIONS USD MILLION 24
TABLE 6 GLOBAL CLINICAL REFERENCE LABORATORY MARKET FOR CLINICAL TRIALS BY REGION USD MILLION 25
TABLE 7 GLOBAL CLINICAL REFERENCE LABORATORY MARKET FOR LABORATORY MEDICINE BY REGION USD MILLION 26
TABLE 8 GLOBAL CLINICAL REFERENCE LABORATORY MARKET FOR OTHERS SEGMENT BY REGION USD MILLION 27
TABLE 9 GLOBAL CLINICAL REFERENCE LABORATORY MARKET BY REGION USD MILLION 28
TABLE 10 NORTH AMERICA CLINICAL REFERENCE LABORATORY MARKET BY COUNTRY USD MILLION 29
& more…
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Key Questions Answered In This Report:
What will the market size and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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