Clinical Laboratory Services Market Size, Share, and Trends 2024 to 2034

Clinical Laboratory Services Market Size and Growth 2023 to 2032

The global clinical laboratory services market size was estimated at US$ 210 billion in 2022 and is expected to hit over US$ 300.54 billion by 2032 with a registered CAGR of 3.70% from 2023 to 2032.

Clinical Laboratory Services Market in U.S. 2023 To 2032

The U.S. clinical laboratory services market size was valued at US$ 210 billion in 2022 and is projected to be worth around US$ 300.54 billion by 2032 with a CAGR of 3.70% between 2023 to 2032.

North America hit largest revenue share 41% in 2021. The U.S. dominated the clinical laboratory services market in North America region. The clinical laboratory services market in North America region is being driven by growing prevalence of chronic disorders. In addition, favorable government conditions are also driving the growth of clinical laboratory services market in the region.

Asia-Pacific region is expected to develop at the fastest rate during the forecast period. China and India dominate the Asia-Pacific clinical laboratory services market. The ongoing research and development activities combined with government initiatives are creating new opportunities for the growth of clinical laboratory services market in the region. The factors such as rapid urbanization and rising disposable income are also driving the growth of the Asia-Pacific clinical laboratory services market.

Growth Factors

The clinical laboratory services are applicable for all type of laboratories. The growth of the global clinical laboratory services market is attributed to the growing number of clinical trials and research and development activities in the healthcare sector. One of the prominent factors driving the growth of the global clinical laboratory services market is growing prevalence of targeted disorders globally. The treatment and diagnosis of targeted disorders require utmost research, which is boosting the expansion of the global clinical laboratory services market over the forecast period.

The diseases or disorders such as cancer, diabetes, and HIV should be diagnosed and treated with latest tools and technologies. These types of diseases should be treated at an early stage. Thus, the demand and need for early disease diagnosis is increasing all around the globe. This is directly impacting the growth of the global clinical laboratory services market. In addition, the technological advancements and innovative solutions and tools are creating growth prospects for the clinical laboratory services market all around the globe.

Another factor that is boosting the growth and development of the global clinical laboratory services market is growing geriatric population. The ageing population rate is growing rapidly in developed and developing countries. The old people are vulnerable to chronic disorders and sometimes are infected with new disease. To study and get results about the specific disease, the clinical trials and research and development is very crucial. Thus, the demand for clinical laboratory services is growing at a rapid pace.

The impact of the COVID-19 pandemic on the growth of the global clinical laboratory services market was moderate in nature. The COVID-19 epidemic resulted into growing demand for clinical trials across healthcare industry. Due to coronavirus outbreak, the importance of clinical laboratory services has grown up significantly. This had positive impact on the clinical laboratory services market growth.

The government firms are getting more aware about the clinical laboratory services all around the world. For this, they are heavily investing in the healthcare sector. In addition, constant efforts are being carried out for the growth and development of the clinical laboratory services market. Furthermore, key market players are actively adopting major marketing strategies for creating awareness regarding clinical laboratory services all around the globe. The strategies that are adopted by clinical laboratory services market players are new service launch, partnership, joint venture, merger, acquisition, and business expansion.

Report Scope of the Clinical Laboratory Services Market

Test Type Insights

The clinical chemistry segment accounted revenue share of around 52% in 2022. The growing number of clinical tests is driving the demand for clinical chemistry tests. The growth of the segment is attributed to the growing importance of point of care tests and launch of new and advanced technologies. In addition, the adoption of clinical chemistry tests in countries such as India, the U.S., and Japan is creating growth prospects for the segment.

The human and tumor genetic tests segment is fastest growing segment of the clinical laboratory services market in 2022. The market for human and tumor genetic tests is growing due to the growing incidences of cancer. This is resulting into growing need and requirement for cancer screening at early stage. These tests provide accurate and precise results for cancer testing and diagnostics.

Service Provider Insights

The hospital-based laboratories segment dominated the market with revenue share of 55.4% in 2022. The growth of the clinical laboratory services in the hospital-based laboratories is anticipated to the growing number of patient’s visits. The growing prevalence of diseases and disorders is resulting into growing number of tests of various diseases. The tests that are carried out in hospital-based laboratories are quite cost intensive in nature.

The standalone laboratories segment is fastest growing segment of the clinical laboratory services market in 2022. After the COVID-19 pandemic, the demand for clinical laboratory services in standalone laboratories increased at a rapid pace. The tests that are being carried out in standalone laboratories help in the improvement of patient health.

Application Insights

The bioanalytical and lab chemistry services segment dominated the market in 2022 and garnered revenue share of around 51.4%. The growth of the bioanalytical and lab chemistry services segment is attributed to the growing new product launches and drugs. All the new drugs and medications require clinical trials which is driving the growth of the segment.

The toxicology testing services segment is fastest growing segment of the clinical laboratory services market in 2022. The growth of the toxicology testing services segment is being driven by growing introductions and released of consumables. This helps in the enhancement of drug testing services those results into the growth of the segment.

Key Developments

• The pathology labs at Homerton Hospital began offering urine and blood analysis in February 2020. The labs have been relocated to the Royal London Hospital. Homerton and two other trusts, namely Barts Health and Lewisham & Greenwich will now share the clinical laboratory services.
• Illumina acquired disease testing business Grail in March 2020 to accelerate the marketing and acceptance of pioneering multi malignancy screening assays that can detect more tumors earlier and provide better findings. Galleri was expected to go commercial in 2021 when a multi disease research center developed a test for early cancer detection from blood.
• Pharmaceutical Product Development and NeoGenomics collaborated to open a NeoGenomics oncology based clinical trials testing laboratories in Singapore in July 2019. In the Asia-Pacific area, this development strengthens the company’s pathology and molecular expertise.

Some of the prominent players in the global clinical laboratory services market include:

• Charles River Laboratories International Inc.
• Laboratory Corporation of America Holdings
• NeoGenomics Laboratories Inc.
• Siemens Healthcare GmbH
• Quest Diagnostics Inc.
• Fresenius Medical Care
• Viapath Group LLP
• Almac Group
• Sonic Healthcare
• OPKO Health Inc.

Segments Covered in the Report 

By Test Type

• Human and Tumor Genetics
• Clinical Chemistry
• Medical Microbiology and Cytology
• Genetic Testing
• Drug of Abuse Testing
• Other Esoteric Tests

By Service Provider

• Hospital based laboratories
• Standalone laboratories
• Clinic based laboratories

By Application

• Bioanalytical and Lab Chemistry Services
• Toxicology Testing Services
• Cell and Gene Therapy Related Services
• Preclinical and Clinical Trial Related Services
• Drug Discovery and Development Related Services
• Others

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa