Clinical laboratory tests have been at the backbone of disease diagnosis and monitoring therapeutic responses during prognosis. Just not meeting the needs of individual patients, the clinical laboratory tests market is broad enough to help make timely interventions in public, international and global health programs. The standardization of laboratory services has helped fuel strides in the expansion of the clinical laboratory tests market. Patient-centered approaches in management of diseases, particularly chronic conditions and viral diseases, stridently underpin new avenues.
Around the world, healthcare systems on achieving the primary goals of medical laboratory testing increasingly focus on clinical efficacy and effectiveness. The ultimate objective is to offer the patient population access to timely and quality care, propelling strides in the clinical laboratory tests market. Unsurprisingly, in developed nations 60–70% of clinical decisions have been influenced by results of clinical laboratory tests. In several cases, these tests were motivated by regulatory guidelines.
The report on the clinical laboratory tests market offer critical assessment of recent lucrative avenues, major drivers and restraining factors, trends that might cause disruption. The study has also offers assessment of various research and investment trends among well-entrenched players to tap into the rising potential in emerging markets.
The need for high-quality, diagnostic testing has been a key pillar of quality patient care. This drive is the key aspect propelling the strides in the clinical laboratory tests market. Rising incidence of chronic diseases and the growing morbidity of non-communicable diseases have intensified the need.
Both private and public health systems have grown cautious about increasing access to disease-specific diagnostic and confirmatory tests. As a result, they have raised their funding on strengthening the clinical lab infrastructures. In recent years, need for clinical lab tests for screening and surveillance of diseases in public health emergencies has opened a new horizon for stakeholders in the clinical laboratory tests market. In developing economies, hospitals have stressed on the ease and convenience of consumers, and hence ensuring that a robust infrastructure exists within close proximity. Stridently, the focus has imparted a marked impetus to the expansion of the clinical laboratory tests market.
Clinical laboratory tests have been massive strides in developing geographies on the back of rise in coordination and collaboration among clinical laboratories to improve services for patient population. Standardization of laboratory services has kept the revenue potential in emerging economies high. A case in point is the contours of the Asia Pacific market patient-centered approach. The regional market
Developed regions such as North America have seen rapid strides in diagnostic tools, fueling new opportunities in the clinical laboratory tests market. Also, the presence of clinical facilities spurs the demand for state-of-the-art laboratory machines and instruments.
However, the gap between accessibility and availability of high-quality clinical testing of laboratories is stark in low- and middle-income countries. This presents an unmet need in the clinical laboratory tests market. Other regional markets are Latin America, and the Middle East and Africa.
Promising players are inclined toward addressing the needs of a robust healthcare systems. They are leaning on offering equipment and consumables that advance patient care in the management of a wide range of diseases. Top players have also benefitted from increasing accreditation for clinical laboratories in developing economies, such as in Asia.
Some of the players aspiring to hold sizable stakes in the clinical laboratory tests market are Genoptix, Inc. (Novartis AG), Eurofins Scientific, ARUP Laboratories, UNILABS, Genomic Health, Inc., SYNLAB International GmbH, NeoGenomics Laboratories, Inc., Sonic Healthcare, Quest Diagnostics Incorporated, Laboratory Corporation of America Holdings, and Charles River Laboratories International, Inc.