Quest Diagnostics Inc Is One Of The Largest Players In The Medical And Diagnostic Laboratory Services Market, According To The Business Research Company’s Medical And Diagnostic Laboratory Services Global Market Report 2020-30: COVID-19 Impact And Recovery
(Companies Covered: Quest Diagnostics Inc, Sonic Healthcare Limited, Eurofins, OPKO Health Inc, Medical And Diagnostic Laboratory Services.)
The global medical and diagnostic laboratory services market is expected to decline from $126.4 billion in 2019 to $108.8 billion in 2020 at a compound annual growth rate of -14%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. The decline is mainly because the governments across the countries prioritized covid-19 screening and imaging is not routinely used to screen for COVID-19. COVID-19 is mainly through molecular and RT PCR based tests. Most of the medical and diagnostic laboratories are currently shutdown, and few top facilities are asked to reschedule any nonurgent, outpatient imaging visits as necessary to help keep patients and staff safe. Additionally, due to extending lockdown, there are many cancellations of pre-scheduled patient visits. The market is then expected to recover and grow at a rate of 6% from 2021 and reach $170.3 billion in 2023.
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The medical and diagnostic laboratory services market consists of sales of medical and diagnostic laboratory services and related goods by entities (organizations, sole traders and partnerships) that provide diagnostics tests for various diseases. This industry includes CT scan centers, X- ray centers and other clinics that undertake disease diagnosis.
Global Medical And Diagnostic Laboratory Services Market Segmentation –
1) By Type: medical laboratory services, diagnostic imaging centers,
2) By End-User: cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology,
Global Medical And Diagnostic Laboratory Services Market Driver –
Paper diagnostics can be used as replacement of color based tests on paper for the ease of use, storage and as effective cost measures. Assay wells are printed onto a piece of paper of the size of a postal stamp; samples such as blood, urine or sweat wick through the paper and color changes can be easily compared by users with the reference scale on the paper. It is a significant technology which can help access to 60% of the world population who do not have access to urban hospitals and medical infrastructure.
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Few Points From The Global Medical And Diagnostic Laboratory Services Market TOC
1. Executive Summary
2. Report Structure
3. Medical And Diagnostic Laboratory Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Medical And Diagnostic Laboratory Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Medical And Diagnostic Laboratory Services Market Supply Chain
5.1. Supply Chain
5.3. End Customers
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