The Global Clinical Reference Laboratories Market – Competitive Analysis:
The clinical reference laboratory industry has turned into a critical and element power in global clinical laboratory industry. Through extensive research it is found out that the market players have adopted the strategy of bringing in acquisition for new specialized techniques to perform the clinical trials and medical laboratory testing in the market, the key player involved in this strategy are Sonic HealthCare Limited, Aurora Diagnostics, Unilabs among others.
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.
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Clinical reference laboratories are used to support diagnosis/analysis in patient care as well as medical research. Laboratory services are an essential part of disease diagnosis, treatment, monitoring response to treatment, disease surveillance programs and clinical research. The test results therefore should be consistent, precise and reproducible. Generation of such quality results includes a step wise process of thoughtful planning, perfect implementation and thorough checking of results by the whole team involved. International guidelines lay down the principles of a Clinical reference Laboratory Practices to be monitored by medical researchers to generate quality data.
The laboratories carries out intramural and extramural research through a number of institutions which are also involved in day-to-day patient care. Though most laboratories follow some procedures to ensure generation of dependable results, there is a need for a uniform procedure to be adopted by the clinical reference laboratories to allow intra and inter-laboratory comparisons. Keeping this in assessment, the international council an Advisory Committee of reference laboratories have suggested existing laboratories to adapt the existing international guidelines to the Global context.
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. Hospitals spend 3-4% on an average for their net patient revenue on clinical laboratory services. The mid-size 300-500 bed hospitals with annual net patient revenue of approximately $300 million contracts with a national diagnostic testing laboratory which has reduced the laboratory spending up to 20% or $2 million annually. One of the reason for increasing outsourcing by hospitals is the budgets constrains resulting in the decline of medicare reimbursements.
Global Clinical Reference Laboratories Market – Regional Analysis
North America holds the largest market share of ~47% for the global clinical reference laboratories market in the forecast period. In Europe, the EU Reference Laboratories (EURLs) aims to ensure high-quality laboratory testing. They also support the commission activities on risk management and risk assessment in the area of laboratory analysis. Developed countries in APAC region such as Japan, China, and India exhibit strong growth with a significant CAGR over the forecast period.
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Major TOC for Clinical Reference Laboratories Market:
1 Report Prologue
2.1 Research Objective
2.2 Assumptions & Limitations
2.3 Market Structure
2.4 Market Segmentation
2.4.1 by Service Providers
126.96.36.199 In Stand Alone
188.8.131.52 In Hospital Based
184.108.40.206 In Clinical Based
2.4.2 by Application
220.127.116.11 Clinical Trials
18.104.22.168 Laboratory Medicine
2 Scope of Study
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
4 Market Dynamics
4.1.1 Increasing value-based outsourcing from hospitals will boost the market for clinical reference lab services
4.1.2 Application of advanced automation technology in reference laboratories
4.1.3 Cost and time savings for hospitals and clinics due to increase in outsourcing by independent laboratories
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