Clinical Laboratory Testing Market is anticipated to register a CAGR of 7.3% from 2021-2028.
Clinical laboratory tests have been at the backbone of disease diagnosis and monitoring therapeutic responses during prognosis. Just not meeting the needs of individual patients, the clinical laboratory tests market is broad enough to help make timely interventions in public, international and global health programs. The standardization of laboratory services has helped fuel strides in the expansion of the clinical laboratory tests market. Patient-centered approaches in management of diseases, particularly chronic conditions and viral diseases, stridently underpin new avenues.
The demand for clinical laboratory tests is driven by growing investments in diagnosing target diseases such as cardiovascular disorders, tuberculosis, and diabetes. Clinical laboratory tests help diagnose diabetes mellitus. Laboratory tests can help determine a diagnosis, plan treatment, check to see if treatment is working, or monitor the disease over time.
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Medical lab testing is an essential component of high-quality health care. Physician or other clinician orders lab exams to diagnose, treat or monitor a patient’s condition. The method begins with the collection of a sample of the patient’s blood, tissue, or other biological matter, which is then taken to a laboratory where it is individually recognized and evaluated to ensure that it is acceptable for the trials ordered by the health care practitioner.
Key players in the global Clinical Laboratory Testing market:
- OPKO Health Inc.
- Sonic Healthcare USA
- Genzyme (Subsidiary of Sanofi)
- Qiagen
- Laboratory Corporation of America (LabCorp)
- Healthscope Ltd
- Quest Diagnostics
- Charles River Laboratories
- Abbott Laboratories
- Alere Inc.
On the basis of Types:
- Tumor
- Clinical Chemistry
- Microbiology
- Esoteric
On the basis of Applications:
- Hospital
- Physician
- Independent
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Global Clinical Laboratory Tests Market: Key Trends
The report on the clinical laboratory tests market offer critical assessment of recent lucrative avenues, major drivers and restraining factors, trends that might cause disruption. The study has also offers assessment of various research and investment trends among well-entrenched players to tap into the rising potential in emerging markets.
The need for high-quality, diagnostic testing has been a key pillar of quality patient care. This drive is the key aspect propelling the strides in the clinical laboratory tests market. Rising incidence of chronic diseases and the growing morbidity of non-communicable diseases have intensified the need.
Both private and public health systems have grown cautious about increasing access to disease-specific diagnostic and confirmatory tests. As a result, they have raised their funding on strengthening the clinical lab infrastructures. In recent years, need for clinical lab tests for screening and surveillance of diseases in public health emergencies has opened a new horizon for stakeholders in the clinical laboratory tests market. In developing economies, hospitals have stressed on the ease and convenience of consumers, and hence ensuring that a robust infrastructure exists within close proximity. Stridently, the focus has imparted a marked impetus to the expansion of the clinical laboratory tests market.
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