Target Diseases Such as CVD Drive the Clinical Laboratory Tests Market toward a Stellar Growth, Reaching $213.04 Billion by 2030

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Sep 20, 2023, 12:45 ET

DUBLIN, Sept. 20, 2023 /PRNewswire/ -- The "Clinical Laboratory Tests Market Size, Share & Trends Analysis Report, By Region, And Segment Forecasts, 2023 - 2030" has been added to ResearchAndMarkets.com's offering.

Clinical Laboratory Tests Market Projected to Reach $213.04 Billion by 2030, Driven by Increasing Geriatric Population and Rising Prevalence of Target Diseases

Key Takeaways:

The clinical laboratory tests market is projected to flourish, reaching a noteworthy USD 213.04 billion by 2030, growing at a CAGR of 9.4% from 2022 to 2030.
Market expansion is primarily attributed to a surge in target diseases and the rising implementation of clinical laboratory tests for an array of diagnostic applications focused on precise patient health evaluation and treatment plans.
The WHO has noted that by 2030, one in every six individuals will be above 60 years, signaling a climb from 1 billion in 2020 to a staggering 1.4 billion. This burgeoning geriatric populace will significantly fuel the market's growth over the forecast duration.
Central laboratories spearheaded the market in 2022, driven by their extensive market infiltration and high procedure volumes.
North America reigned supreme in 2022 market share, bolstered by amplified regulatory backing and escalating investments in clinical laboratory tests.

Market Dynamics Highlight:

Drivers:

Increasing Geriatric Population: With age comes an enhanced risk of health conditions, propelling the need for advanced clinical tests.
Growing Prevalence Of Target Disease: Diseases like cardiovascular ailments and diabetes are escalating, necessitating comprehensive clinical testing.
Introduction Of Innovative Solutions: Key market players are focusing on novel collaborations and leveraging advanced technology to reinforce their market position.

Restraints:

Ambiguous regulatory frameworks and the global repercussions of the Covid-19 pandemic have been identified as potential market growth inhibitors.

Segment Highlights:

The HbA1c tests segment boasted the largest revenue share in 2022, propelled by the growing diabetic populace.
The HGB/HCT tests segment is forecasted to witness rapid growth due to rising blood-related disorders.

To delve deeper into this all-encompassing analysis and gain further insights into the Clinical Laboratory Tests market, including competitive landscapes, business analysis by type and end-use, and regional business analyses, visit the official webpage:

Company Profiles:

Quest Diagnostics Incorporated.
Abbott
Cinven
F. Laboratory Corporation Of America Holdings
Arup Laboratories
Opko Health, Inc.
Unilabs
Clinical Reference Laboratory, Inc.
Synnovis Group
Sonic Healthcare Limited.

For more information about this report visit https://www.researchandmarkets.com/r/awa761

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SOURCE Research and Markets