Clinical Diagnostics Market Size, Share, and Analysis, By Test (Liver Panel, Lipid Panel, Renal Panel, Electrolyte Testing, Complete Blood Count, Infectious Disease Testing, Others), By Product (Reagents, Instruments, Others), By End User (Diagnostic Laboratory, Hospital Laboratory, Point-of-care Testing, Others) and Regional Forecasts, 2022-2032
Report Overview
Product Overview:
Clinical Diagnostics Market size was USD 66.86 billion in 2021 and projected to grow from USD 75.9 billion in 2023 to USD 135.5 billion by 2032, exhibiting a CAGR of 6.6% during the forecast period.
Clinical diagnostic services give physicians a variety of instruments to aid in decision making related to best therapy required for patients with different diseases. The frequency of chronic and infectious diseases is increasing along with the implementation of automated platforms which is anticipated to boost the market growth. Clinical diagnostics denotes the process of recognising, identifying and observing disease through signs, symptoms, physical examination of a patient. They help in disease management to enhance health and well-being along with the classification of patients with diverse diseases.
Market Highlights
Clinical Diagnostics Market is expected to project a CAGR of 6.6% during the forecast period, 2022-2032
Clinical Diagnostics Market is expected to reach USD 135.5 billion, growing at a CAGR of 6.6% during forecast period owing to the factors like changing lifestyles of individuals with unhealthy habits, which resulted in acquiring diseases like hypertension, diabetes, and cardiovascular issues. Growing digital participation permit consumers to involve in clinical outcomes, high operational cost-cutting which is expected to boost the market growth during the forecast period. Increasing acceptance of non-invasive prenatal testing created attention for implementation of innovative nanomaterials, and point-of-care medical diagnostics which is anticipated to drive the demand for the market growth.
Clinical Diagnostics Market Segmentation:
Lipid Panel segment is expected to grow with high CAGR during the forecast period
Clinical Diagnostics Market is classified based on the Test into Liver Panel, Lipid Panel, Renal Panel, Electrolyte Testing, Complete Blood Count, Infectious Disease Testing, Others. Lipid Panel segment is expected to dominate the market over the forecast period as it is a blood test which measures the fats, lipids, and fatty substances which is used as energy source. Lipid panel is used for measuring HDL cholesterol, LDL cholesterol, Total cholesterol, triglycerides, cholesterol/HDL ratio, etc. A lipid panel is also helpful for evaluating the risk of cardiovascular disease which is expected to boost the growth of segment in the market.
Instruments segment is expected to grow with high CAGR during the forecast period
Clinical Diagnostics Market is classified based on the Product into Reagents, Instruments, Others. Instruments segment is expected to dominate the market in the forecast period due to the regular innovation in the instruments used for Clinical Diagnostics procedures. The increasing adoption of modern instruments and high investments in developing laboratory infrastructure is anticipated to boost the growth of segment. Several sensitive and complex diagnostic tests are done in laboratories requiring specialized equipment which is expected to boost segment growth in the market.
Market Dynamics:
Growth Drivers
Increasing Demand for Clinical Diagnostic is Expected to Boost the Market Growth
Clinical diagnostics are widely used to manage health of patient and aid in observing the disease progression. They are also helpful in tracking disease at early phases by preventing long term complications and is anticipated to improve the clinical diagnostics market growth. Increasing awareness regarding the health along with growing expenditure on healthcare may drive the market growth. The incidence of being prone to various diseases from infected patients is also expected to drive the demand for clinical diagnostic market during the forecast period.
Increasing Incidence of Chronic Diseases is Expected to Boost the Growth of the Market
The incidence of several infectious and chronic diseases is increasing in the population globally which is expected to boost the market growth. The occurrence of several chronic disorders like cardiovascular diseases, cancers, obesity, diabetes, etc. are increasing which is resulting in creating demand for clinical diagnostics. Clinical diagnostic tests are the most accurate procedures to identify and distinguish microorganisms and the tests done test need to be accurate, fast and able to measure the infection level which assist in better testing, therefore, boosting the growth of the market. Increasing automated platform related to diagnostic devices may also aid in the market growth.
Restraint
Easy Availability of Molecular Diagnostics May Restrain the Growth of the Market
The molecular diagnostics price and advanced molecular diagnostics had reduced which resulted in convenience and ease of use and may result in restraining the growth of Clinical Diagnostics market.
Recent Developments:
In July 2021, Beckman Coulter agreed with Quidel Corporation to acquire rights related to manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers.
OIn November 2020, Bio-Rad was given authorization to import and sell the Platelia SARS-CoV-2 Total Ab test for testing of corona virus in Canada.
Clinical Diagnostics Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The North America region dominated the Clinical Diagnostics market in 2021 and is expected to continue its dominance over the forecast period due to the increasing number of geriatric population and growing awareness regarding undergoing laboratory tests which positively impacted the market growth. High prevalence of chronic disease is also anticipated to boost the growth of clinical diagnostics market during the forecast period.
Impact of Covid-19 on Clinical Diagnostics Market
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Covid-19 had negatively affected several industries. The requirement of diagnostic testing had increased during the pandemic to identify infected people and also resulted in increased demand for molecular diagnostic tests. Several diagnostic procedures were cancelled to prioritize covid-19 testing which impacted clinical diagnostic testing. Covid-19 had slight positive impact on the growth of the Clinical Diagnostics Market.
Clinical Diagnostics Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.
Clinical Diagnostics Market Scope and Segments:
ATTRIBUTE
DETAILS
Study Period
2018-2032
Base Year
2022
Forecast Period
2022-2032
Historical Period
2019-2021
Growth Rate
CAGR of 6.6% from 2022-2032
Unit
Value (USD Billion)
Segmentation
Main Segments List
Test
Liver Panel
Lipid Panel
Renal Panel
Electrolyte Testing
Complete Blood Count
Infectious Disease Testing
Others
Product
Reagents
Instruments
Others
End User
Diagnostic Laboratory
Hospital Laboratory
Point-of-care Testing
Others
By Region
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Scandinavia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Frequently Asked Questions (FAQ):
Clinical Diagnostics Market size was estimated at USD 66.86 billion in 2021 and is expected to reach USD 135.5 billion in 2032.
Lipid Panel and Instruments segment accounted for the highest growth rate in the Clinical Diagnostics market.
Leading players: BioMerieux, ARUP Laboratories, Becton, Dickinson, and Company, Abbott Laboratories, Qiagen, Bio-Reference Laboratories, Labcorp, Bioscientia Healthcare, Danaher Corporation, Quest Diagnostics Inc., Hologic Inc., F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Sonic Healthcare Ltd, Sysmex Corporation, Siemens AG and Other Prominent Players are the leading players in the Clinical Diagnostics Market.
Increasing Demand for Clinical Diagnostic and Increasing Incidence of Chronic Diseases are the factors driving the Clinical Diagnostics market.
The low price of molecular diagnostics and ease of use are the challenges associated with the Clinical Diagnostics Market
15.Middle East and Africa Clinical Diagnostics Market Size & Forecast 2022A-2032F
15.1.Overview
15.2.Key Findings
15.3.Market Segmentation
15.3.1.By Test
15.3.2.By Product
15.3.3.By End User
15.4.Country
15.4.1.Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4.South Africa
15.4.5.Rest of Middle East and Africa
16.Latin America Clinical Diagnostics Market Size & Forecast 2022A-2032F
16.1.Overview
16.2.Key Findings
16.3.Market Segmentation
16.3.1.By Test
16.3.2.By Product
16.3.3.By End User
16.4.Country
16.4.1.Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17.Competitive Landscape
17.1.Company market share, 2021
17.2.Key player overview
17.3.Key stakeholders
18.Company Profiles
18.1.BioMerieux
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3.Market Share
18.1.4.4.Recent News & Development (Last 3 Yrs.)
18.1.4.5.Executive Team
18.2.ARUP Laboratories
18.3.Becton, Dickinson, and Company
18.4.Abbott Laboratories
18.5.Qiagen
18.6.Bio-Reference Laboratories
18.7.Labcorp
18.8.Bioscientia Healthcare
18.9.Danaher Corporation
18.10.Quest Diagnostics Inc.
18.11.Hologic Inc.
18.12.F. Hoffmann-La Roche AG
18.13.Thermo Fisher Scientific
18.14.Sonic Healthcare Ltd
18.15.Sysmex Corporation
18.16.Siemens AG
18.17.Other Prominent Players
19.Appendix
20.Consultant Recommendation
Research
Methodology
Primary Research
Fatpos Global’s dedicated primary research wing comprises a team of analysts adept
at conducting and engaging in detailed primary interviews with key industry
stakeholders across the entire value chain.
The primary research comprises formulation of a detailed discussion guides composed
of questions pertaining to various data points essential developing an in-depth
report.
The subsequent stages development of an exhaustive market participants, key opinion
leaders, industry experts and executives, among others.
Manufacturers, distributors & suppliers, key End Users, industry experts, opinion
leaders, and industry association members, among others compose the sample for the
research study
Supply Side
R&D technicians and technologists
Procurement Managers
Physician If s/Specialist
Research Professors
Healthcare Providers
Consumers
Distributors & Channels
Service Provide
Demand Side
CEOs
Vice presidents
Marketing directors
RProduct Managers
Regional Sales and
Marketing Managers
Business Development
Plant Manage
Research Framework
Objective of Research
The objective of the research is to provide a 360 holistic view on the market and
bringing the insights that can help stakeholders identify the opportunities as well
as challenges.
We have provided the market size in terms of value and volume of market with
segmentation and offers in-depth commentary and accurate quantitative insights.
The study also includes incisive competitive landscape analysis, and provides key
recommendations to market players on winning imperatives and successful strategies.
Primary Research
Fatpos Global’s dedicated primary research wing comprises a team of analyst adept
at conducting and engaging in detailed primary interviews with key industry
stakeholders across the entire value chain.
The primary research comprises formulation of a detailed discussion guides composed
of questions pertaining to various data points essential developing an in-depth
report.
The subsequent stages development of an exhaustive market participants, key
opinion leaders, industry experts and executives, among others.
Manufacturers, distributors & suppliers, key End Users, industry experts, opinion
leaders, and industry association members, among others compose the sample for the
research study
Analysts compile the whole data from demand and supply-side perceptions
Secondary Research
Data is gathered from various secondary databases.
Diligently tracking the secondary sources for closely monitoring the market trends
and insights.
Analysts compile the whole data from demand and supply-side perceptions for the
better outputs.
Data Sources
Research Approach
Demand Estimation of each product across countries/regions summed from the total
market
Variable analysis for demand forecasting
Demand estimation via analysing paid database, company financials either via annual
report or database
Primary interviews for data revalidation and insights collection.
Used extensively for new product forecasting or analysing penetration level
Tool used invoices product flow & penetration models
Use of regression multi variate analysis for forecasting
Involve extensive use of paid and public database
Primary interviews & vendor-based primary research for variable impact analysis
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