Global Medical Laboratories Market, By Test Type (Routine Testing, Esoteric Testing, Anatomical Pathology Testing, Imaging, others), End Users (Hospital-based Laboratories, Clinics and Independent Laboratories, Academic Institutes & Research Laboratories, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Medical Laboratories Market
Medical laboratories market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 12.30% in the forecast period of 2021 to 2028. The increase in prevalence of chronic illness and lifestyle related ailments among population across the globe is escalating the growth of the medical laboratories market.
Medical laboratories refer to the commercial and independent enterprises offer details about onset and reason of patients' physical ailments and severity to the healthcare professionals. Majorly medical decisions are made on the basis of analysis done in these laboratories. Several testing and analysis are done such as pathological and chemical analysis, bacteriological, biological, dental, medical X-rays and urinalysis.
The increase in aging population and the need for their medical testing are the major factors driving the medical laboratories market. The rise in rate of chronic diseases such as cardio-vascular ailments, cancer, diabetes and obesity among people across the world accelerate the market growth. Additionally, the increasing inclination towards preventive care testing and technological advancement and innovations to enhance healthcare facilities and treatments affect the medical laboratories market. Furthermore, the rise in awareness regarding medical testing services and favorable initiatives taken by government to improve the healthcare sector extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, lack of skilled workforce is expected to obstruct the market growth. The growing utilization of automated testing and technological advancement is impacting the wages for the medical laboratory staff which act as a challenge for the medical laboratories market in the forecast period of 2021-2028.
This medical laboratories 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 medical laboratories market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Medical Laboratories Market Scope and Market Size
Medical laboratories market is segmented on the basis of test type and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of test type, the medical laboratories market is segmented into routine testing, esoteric testing, anatomical pathology testing, imaging and others.
- On the basis of end-users, the medical laboratories market is segmented into hospital-based laboratories, clinics and independent laboratories, academic institutes and research laboratories and others. Clinics and Independent Laboratories segment hold the largest market share in terms of revenue and expected to show astonishing growth in the forecast period because of the stand-alone laboratories which offer source of revenue and wide acceptance of digital pathology.
Global Medical Laboratories Market Country Level Analysis
Medical laboratories market is analyzed and market size insights and trends are provided by country, test type and end-users as referenced above.
The countries covered in the medical laboratories market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical laboratories market because of the increase in aging population and advanced healthcare sector owning to the technological advances in the region. Asia-Pacific is estimated to grow in the forecast period of 2021-2028 due to the initiatives by the government to enhance healthcare sector, improvised testing procedures by market players and rise in awareness regarding medical testing services in the region.
The country section of the medical laboratories market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
Medical laboratories market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical laboratories market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical laboratories market. The data is available for historic period 2010-2019.
Competitive Landscape and Medical Laboratories Market Share Analysis
Medical laboratories 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 medical laboratories market.
The major players covered in the medical laboratories market report are Quest Diagnostics Incorporated., Laboratory Corporation of America Holdings, Bupa, NHS Blood and Transplant, Mayo Foundation for Medical Education and Research., SYNLAB International GmbH, LifeLabs, DaVita Inc., Eurofins Scientific, UNILABS, BioReference Laboratories, Inc., Sonic Healthcare, Clinical Reference Laboratory, Inc., ACM Global Laboratories (MFMER), Siemens, Charles River Laboratories., OPKO Health, Inc. Diagnostic Laboratory Services, Inc., Aurora Diagnostics among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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