Asia-Pacific Clinical Laboratory Services Market, By Specialty (Clinical Chemistry Testing, Hematology Testing, Microbiology Testing, Immunology Testing, Drugs of Abuse Testing, Cytology Testing and Genetic Testing), Provider (Independent and Reference Laboratories, Hospital-Based Laboratories and Nursing and Physician Office-Based Laboratories), Application (Drug Discovery Related Services, Drug Development Related Services, Bioanalytical and Lab Chemistry Services, Toxicology Testing Services, Cell and Gene Therapy Related Services, Preclinical and Clinical Trial Related Services and Other Clinical Laboratory Services), Service Type (Routine Testing Services, Esoteric Services And Anatomic Pathology Services) – Industry Trends and Forecast to 2030.
Asia-Pacific Clinical Laboratory Services Market Analysis and Size
According to the Centers for Disease Control and Prevention's September 2020 report, approximately 51.8% (129 million) of civilian, noninstitutionalized adults had been diagnosed with at least one of ten selected chronic conditions in 2018, and 24.6% (61 million) of adults had one chronic condition, and 27.2% (68 million) had two or more chronic conditions, indicating a high prevalence of chronic diseases among the American population. The presence of key market players in the country and new product innovations and launches are expected to supplement the country's clinical laboratory services market growth.
Data Bridge Market Research analyses that the clinical laboratory services market, which was USD 210.42 billion in 2022, is expected to reach USD 292.43 billion by 2030, at a CAGR of 4.2% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Clinical Laboratory Services Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Specialty (Clinical Chemistry Testing, Hematology Testing, Microbiology Testing, Immunology Testing, Drugs of Abuse Testing, Cytology Testing and Genetic Testing), Provider (Independent and Reference Laboratories, Hospital-Based Laboratories and Nursing and Physician Office-Based Laboratories), Application (Drug Discovery Related Services, Drug Development Related Services, Bioanalytical and Lab Chemistry Services, Toxicology Testing Services, Cell and Gene Therapy Related Services, Preclinical and Clinical Trial Related Services and Other Clinical Laboratory Services), Service Type (Routine Testing Services, Esoteric Services And Anatomic Pathology Services)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Abbott (U.S.), ARUP Laboratories (U.S.), OPKO Health, Inc. (U.S.), ioscientia Healthcare GmbH (Germany), Charles River Laboratories (U.S.), NeoGenomics Laboratories (U.S.), Genoptix, Inc. (U.S.), Healthscope (Australia), The Laboratory Glassware Co. (U.S.), Laboratory Corporation of America Holdings (U.S.), Fresenius Medical Care AG and Co. KGaA (Germany), QIAGEN (Germany), Quest Diagnostics Incorporated (U.S.), Siemens Healthcare Private Limited (Germany), Tulip Diagnostics (P) Ltd. (India), Sonic Healthcare Limited (Australia), Merck KGaA (Germany)
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Market Opportunities
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Market Definition
A clinical laboratory is essential to an economy's healthcare system because it provides a wide range of services such as patient diagnosis, prevention, treatment, and management. These services assist healthcare professionals in making medical decisions and personalizing medications based on the needs and illnesses of individuals. Clinical laboratory services rely on technologically advanced devices and testing kits to reduce human error and provide reliable results. Several clinics are currently utilizing software programs and computers to assist patients in obtaining information about reporting results and billing for completed tests.
Clinical Laboratory Services Market Dynamics
Drivers
- Strategic partnerships and collaborations
The independent laboratories see significant consolidation as players focus on strategic partnerships and collaborations, which is expected to drive market growth. For instance, in October 2020, U-Diagnostics, a diagnostic laboratory in the Netherlands, partnered with CENTOGENE, a significant provider of COVID-19 testing in Germany, to expand COVID testing services throughout the Netherlands. Diaceutics PLC, a company focused on diagnostic network solutions for developing and commercializing precision medicine diagnostics, also patterned with Targos Molecular Pathology and HistoCyte Laboratories in July 2020 to enhance and expand diagnostic testing services in 2,500 labs worldwide. As a result, these developments fuel growth in both the studied segment and the overall clinical laboratory services market.
- Increase in geriatric population
Life expectancy has increased significantly, particularly in developed countries, as access to better healthcare facilities and healthcare expenditures have increased. This has increased the global geriatric population. In 2010, the WHO estimated that 524 million people were 65 or older, accounting for 8% of the world's population. This figure is expected to triple by 2050, bringing the geriatric population to 1.5 billion, accounting for 16% of the global population. The increase in the geriatric population has increased in cases of age-related disorders. As a result, the number of clinical tests performed each year is increasing. People over the age of 50 are more vulnerable to diseases such as cancer, diabetes, and cardiovascular disease.
Opportunities
- Independent and reference laboratories is expected to register healthy growth
There is a huge opportunity for independent laboratories to thrive in the market in highly populated and developing countries like India and China, where a significant share of the population does not have access to proper medical diagnostic facilities, as they can fill the wide gap of clinical service providers in these regions, and thus the number of independent laboratories is increasing. According to the National Accreditation Board for Testing and Calibration Laboratories (NABL) of India, there were approximately 6,200 NABL accredited medical labs in India as of November 2020, which increased to 6,975 by March 2022 due to an increase in demand for these facilities throughout the country.
Restraints/Challenges
- Lack of diagnostic tests
Lack of diagnostic tests may potentially restrain the market progression during the forecast period. The regulatory framework for approvals has always been a major impediment to the pharmaceutical, biotechnology, and medical technology industries' growth rates.
This clinical laboratory services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the clinical laboratory services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Clinical Laboratory Services Market
The COVID-19 pandemic had a moderate to high impact on the global market. COVID-19 infection has claimed the lives of millions of people worldwide in a very short period of time. Due to the sudden increase in cases of COVID-19 infection around the world, the pandemic raised awareness about the critical importance of clinical laboratory services. This has increased clinical laboratory services, particularly in the specialized chemistry testing segment. In order to keep up with suspected COVID-19 cases, industry demand for clinical laboratory testing has increased significantly and will continue to grow at a rapid pace.
Recent Developments
- In July 2021, Deep Bio, a pioneer in artificial intelligence (AI) cancer diagnostics, announced a research collaboration agreement with ARUP Laboratories, a leading U.S. reference laboratory and global leader in innovative laboratory research and development,. This collaboration has benefited the company in terms of using artificial intelligence in cancer diagnostics.
- In March 2022, Mindray introduced its latest BC-700 Series haematology analyzers for small-to-medium-sized labs, including complete blood count (CBC) and erythrocyte sedimentation rate (ESR) tests.
- In September 2021, Roche Diagnostics' Indian division launched Cobas pure integrated solutions analyzer with a more intelligent system, which is especially suitable for the country's large number of labs and hospitals.
Asia-Pacific Clinical Laboratory Services Market Scope
The clinical laboratory services market is segmented on the basis of specialty, provider, application and service type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Specialty
- Clinical Chemistry Testing
- Hematology Testing
- Microbiology Testing
- Immunology Testing
- Drugs of Abuse Testing
- Cytology Testing and Genetic Testing
Provider
- Independent and Reference Laboratories
- Hospital-Based Laboratories and Nursing and Physician Office-Based Laboratories
Application
- Drug Discovery Related Services
- Drug Development Related Services
- Bioanalytical and Lab Chemistry Services
- Toxicology Testing Services
- Cell and Gene Therapy Related Services
- Preclinical and Clinical Trial Related Services
- Other Clinical Laboratory Services
Service Type
- Routine Testing Services
- Esoteric Services and Anatomic Pathology Services
Clinical Laboratory Services Market Regional Analysis/Insights
The clinical laboratory services market is analyzed and market size insights and trends are provided by country, specialty, provider, application and service type as referenced above.
The countries covered in the clinical laboratory services market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is leading the growth of the market and routine testing services segment is dominating in this country due to rising demand for early and accurate disease diagnosis.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Clinical Laboratory Services Market Share Analysis
The clinical laboratory services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to clinical laboratory services market.
Some of the major players operating in the clinical laboratory services market are:
- Abbott (U.S.)
- ARUP Laboratories (U.S.)
- OPKO Health, Inc. (U.S.)
- Bioscientia Healthcare GmbH (Germany)
- Charles River Laboratories (U.S.)
- NeoGenomics Laboratories (U.S.)
- Genoptix, Inc. (U.S.)
- Healthscope (Australia)
- The Laboratory Glassware Co. (U.S.)
- Laboratory Corporation of America Holdings (U.S.)
- Fresenius Medical Care AG and Co. KGaA (Germany)
- QIAGEN (Germany)
- Quest Diagnostics Incorporated (U.S.)
- Siemens Healthcare Private Limited (Germany)
- Tulip Diagnostics (P) Ltd. (India)
- Sonic Healthcare Limited (Australia)
- Merck KGaA (Germany)
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