Clinical laboratory services provide data that enhances the effective delivery of patient care. They produce accurate, sensitive, and specific information using advanced technologies, which can aid healthcare professionals in making correct therapeutic choices. The services are cost-effective and least invasive in nature. Moreover, technological improvements, utilization of novel markers, and rising infections are expected to positively impact the market growth of clinical laboratory services.
However, reimbursement pressures faced by healthcare companies and the lack of skilled professionals are hampering market growth to a certain extent.
The Clinical Laboratory Services Market is segmented on the basis of Specialty, Provider and region.
Major Specialty of Clinical Laboratory Services Market covered are:
- Clinical Chemistry Testing
- Cytology Testing
- Genetic Testing
- Hematology Testing
- Immunology Testing
- Microbiology Testing
- Drugs of Abuse Testing
Major Provider of Clinical Laboratory Services Market covered are:
- Independent & Reference Laboratories
- Nursing & Physician Office-Based Laboratories
- Hospital-Based Laboratories
Asia Pacific is estimated to account for the highest CAGR in the clinical laboratory services market during the forecast period, which is driven by the increasing number of hospitals and clinical diagnostic laboratories. The growth in Asia Pacific can also be attributed to rising healthcare expenditures due to unforeseen infectious diseases and the large geriatric population in the region. Moreover, increasing investments for strengthening the research base and developments in clinical laboratory testing services are also contributing to the significant growth in this region.
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