Global Clinical Reference Laboratory Market is expected to reach US$ 247,167.8 million by 2027

Global Clinical reference Laboratories Information, by Applications (Oncology, Neurology, clinical chemistry, Pathology and others­­­­), by service providers (Hospital/Clinics based clinical laboratories, Autonomous clinical laboratories) – Forecast to 2027

Market Highlights:

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. 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 depend 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 have 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

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Major Key Players:

  • Laboratory Corporation of America,
  • KingMed Diagnostics,
  • Aurora Diagnostics,
  • Sonic HealthCare Limited,
  • Synlab International GmbH,
  • Bioreference Laboratories,
  • Unilabs,
  • Clinical Reference Laboratory,
  • ARUP Laboratories,
  • Quest Diagnostics          

Regional Analysis:

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.

Taste the market data and market information presented through more than 50 market data tables and figures spread in 130 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Clinical reference Laboratories Market Research Report- Forecast To 2027

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Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: The market for Clinical reference laboratory is growing at tremendous speed and expected to continue its growth in a rapid pace in near future. Since 1980s, the laboratory atmosphere has been characterized by ongoing rapid and dramatic innovation in order to provide better applications of automated technology to their customers and healthcare providers. There has been a remarkable growth in the range and complexity of available tests and services which are expected to grow. Laboratory technology innovation is frequently at the front line of medicinal advances. At times, testing strategies to analyze a specific condition are accessible before successful treatment. Innovation in laboratory technology which includes both advances in equipment and testing techniques has made testing more efficient and automated. These lab automations are increasingly playing an integral role by making it sure that patients receive the right treatment and eliminate the risk of human errors. The major advantage of this lab automation is that it has helped scientists and technicians achieve complex processes in comparatively little time with lower operating costs. However, the increasing automation in the technology has elicited the growth of the clinical reference laboratories. Adding to this Cost and time savings for hospitals and clinics due to increase in outsourcing by independent laboratories, and Increasing value-based outsourcing from hospitals will boost the market for clinical reference lab services.

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Market Segments:

Segmentation by applications

  • Tumor genetics/Oncology
  • Neurology
  • Cardiovascular disorders
  • Clinical chemistry
  • Dermapathology
  • Microbiology
  • pathology

Segmentation by Service providers

  • Hospital/Clinic based clinical reference laboratories
  • Autonomous clinical reference laboratories

The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions

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Market Research Future

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