What is the USA Clinical Laboratory Testing Market Size?
The USA Clinical Laboratory Testing Market are reference laboratories that provide routine services and perform conventional and specialized diagnostic tests for patients. The United States is an attractive destination for segments of the health services market, particularly clinical laboratory tests, which have become an important source of decisive factors for health professionals, despite small medical expenses. The market for clinical laboratory testing in the United States is expected to experience healthy growth, supported by factors such as the aging of the population, active participation of the private sector and greater awareness. With the arrival of new technologies, the global clinical laboratory services market is expected to reach $ XX billion by the year 2022, at a compound annual growth rate of XX%.
Factors Driving the Growth of USA Clinical Laboratory Testing Market:
The growing demand for early and accurate diagnosis of diseases, increased public-private investment, funding of research and grants to develop innovative laboratory testing procedures and advances in clinical diagnostic techniques are key factors in market growth. Factors such as price pressure from health care providers and the change from laboratory diagnostic procedures to home-based testing procedures might limit the market growth during the period of forecast.
This report segments the market of USA Clinical Laboratory Testing Market services into specialty, suppliers and regions. Based on the specialty, in 2017, the clinical chemistry segment accounted for the majority share of the market attributing to the technological innovations in clinical chemistry, the improvement of the health system and the increase in disposable income per capita.
Based on the supplier, in 2017, independent and reference laboratories occupied the largest market share. The dominant part of this segment is attributed to the automation and continuous digitization of diagnostic laboratories in the main countries and to an important reimbursement coverage for clinical trials carried out in reference to independent laboratories in developed countries.
Of the four geographic regions studied in the report, Europe has the largest market share in 2017. Government initiatives to promote awareness of preventive detection, increasing public and private funding for research on the development of laboratory tests, the adoption of laboratory tests based on the genome and others are driving the market in this region. However, Asia-Pacific is expected to register the highest growth rate during the forecast period due to increased health expenditures, the growing number of hospitals and clinical diagnostic laboratories in India, China, and Japan.
Some of the Leading Companies in the USA Clinical Laboratory Testing Market:
The major players in the market are Mayo Medical Laboratories (US), Laboratory Corporation of America Holdings (US), Quest Diagnostics Incorporated (US), Spectra Laboratories Inc. (US), DaVita Healthcare Partners (US), Eurofins Scientific (Luxembourg), Unilabs (Switzerland), SYNLAB International (Germany), Bio-Reference Laboratories (US), Sonic Healthcare (UK), Cerba HealthCare (France), and others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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