The market is witnessing remarkable growth fueled by advancements in technology. Innovations such as AI-driven diagnostics and portable screening devices are revolutionizing healthcare. These technologies enhance early detection of diseases, improving patient outcomes and reducing healthcare costs. With the integration of wearable sensors and telemedicine, remote health monitoring has become more accessible. This progress is particularly evident in regions like Europe, where governments and healthcare providers are increasingly investing in advanced screening solutions to address public health challenges effectively.
Data Bridge Market Research analyses that the Global Health Screening Market size was valued USD 2,91,272.4 million in 2023, is expected to reach USD 8,23,374.65 million by 2031 and is expected to undergo a CAGR of 12.5% during the forecast period of 2024 to 2031.
Below are the Top Five HEALTH SCREENING Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Quest Diagnostics Incorporated
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Quest Diagnostics Incorporated is a pioneer in diagnostic testing, offering an extensive menu of laboratory tests and services. As a key player in the health screening market, Quest Diagnostics serves healthcare providers, employers, and individuals with innovative testing solutions and diagnostic insights to improve patient care and population health management.
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America, Europe, Asia, Middle East and Africa
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In September 2021, Quest Diagnostic Corporation announced that it had reached 57 million COVID-19 molecular diagnostic and serology testing for COVID-19. This shows the testing capacity of the company, that will lead to a rise in revenue in the forecast period.
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2.
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Sonic Healthcare Limited
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Sonic Healthcare Limited is a global healthcare company specializing in laboratory medicine, pathology, and radiology services. With a focus on delivering high-quality diagnostic testing, Sonic Healthcare plays a vital role in the health screening market by providing innovative solutions for healthcare providers and patients worldwide.
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Australia, North America, Europe,
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In March 2020, Sonic Healthcare announced that they had acquired Pathologie Hamburg- a pathology practice laboratory. This acquisition has provided the company with increased production and testing capabilities.
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3.
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Laboratory Corporation of America Holdings
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Laboratory Corporation of America Holdings (LabCorp) is a leading global life sciences company that provides comprehensive clinical laboratory and end-to-end drug development services. With a strong presence in the health screening market, LabCorp offers a wide range of diagnostic tests and services, catering to healthcare providers, employers, and patients.
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Europe, North America, and Asia-Pacific
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In September 2021, Laboratory Corporation of America acquired Myriad Autoimmune’s Vectra testing business. This will increase the company's service portfolio and the revenue generated by the company in the forecast period.
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4.
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Eurofins Scientific
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Eurofins Scientific is a leading international group of laboratories providing a wide range of testing and support services to the pharmaceutical, food, environmental, and consumer product industries. In the health screening market, Eurofins offers comprehensive diagnostic testing solutions, including genetic testing, to support personalized medicine and public health initiatives.
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Europe, North America, South America, Africa, and Asia-Pacific
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In September 2021, Eurofins Scientific announced that its subsidiary Transplant Genomics had launched omnigraf, the only combination biomarket panel that provides the earliest indication of rejection in kidney transplant recipients. This will increase the company's product portfolio.
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5.
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Exact Sciences Corporation
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Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of cancer. Specializing in non-invasive screening tests, such as Cologuard for colorectal cancer screening, Exact Sciences is revolutionizing cancer detection and management. With a commitment to advancing healthcare through innovative technology, Exact Sciences plays a significant role in the health screening market, providing actionable insights for early intervention and improved patient outcomes.
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Middle East and Africa, Europe, Asia-Pacific, America
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In October 2020, Exact Sciences Corporation announced the launch of the Oncotype MAP Pan-Cancer Tissue test for patients with advanced or refractory cancer. This will help the company to increase its sales.
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Conclusion
In conclusion, the market presents a promising landscape driven by a confluence of factors. Technological advancements, coupled with rising awareness of preventive healthcare, fuel its growth trajectory. The increasing prevalence of chronic diseases and aging populations also serve as significant drivers, underscoring the importance of early detection and intervention. Furthermore, expanding access to healthcare services and the integration of AI and big data analytics amplify opportunities within the market. As the demand for proactive health management continues to soar, the health screening sector stands poised for sustained expansion and innovation.
