The Worldwide Clinical Chemistry Industry is Anticipated to Reach $17.1 Billion by 2027
DUBLIN, Aug. 15, 2022 /PRNewswire/ -- The "Global Clinical Chemistry Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global clinical chemistry Market is anticipated to reach US$ 17.1 Billion by 2027. clinical chemistry products are used worldwide to test liquid samples, including plasma, blood, and urine, for the presence of any harmful drugs or drug-related chemicals.
Furthermore, general testing, special tests, diagnostic tests, toxicological tests, urinalysis, and clinical endocrinology tests are all included in clinical chemistry. Again, clinical chemistry tests are frequently used to diagnose chronic disorders such as diabetes and cancer. Clinical chemistry exams are often performed in other medical specialties like gynecology and cancer.
Worldwide Clinical Chemistry Market Size was US$ 13 Billion in 2021:
The rise of the clinical chemistry business has recently been fuelled by the rising prevalence of chronic ailments such as cancer and diabetes, which has resulted in greater demand for speedier diagnosis, technical breakthroughs, and scientific research for further therapeutic usage.
Effortless parameter monitoring, automatic data capture, and automatic variable changes are just a few of the advantages provided by the advancements. The total clinical chemistry market is predicted to grow in the future due to an increased desire for automated clinical chemistry techniques among healthcare and medical professionals. In addition, rising disposable incomes and increased awareness for the need of diagnostic examinations are driving demand in the clinical chemistry industry.
COVID-19 Impact on Global Clinical Chemistry Industry:
The COVID-19 epidemic harmed company sales around the world. Lockdowns stemming from the COVID-19 epidemic forced people to postpone medical appointments, reducing the number of tests performed and reagent sales. However, as governments increasingly relieve travel restrictions, there is a rebound in testing numbers.
Aside from vaccinations and therapeutic medications, there is an increasing market for developing more precise and straightforward testing methods and the expansion of testing structures. Companies have made strategic decisions to implement COVID-19 rapid tests, maintain revenue, and mitigate COVID-19's impact on their operating capabilities. According to the publisher, Global clinical chemistry Industry is expected to expand with a CAGR of 4.7% during 2021-2027.
Reagents Segment will Gain Market Share during the Forecast Period:
The clinical chemistry market is divided into analyzers and reagents based on product. According to our analysis, the analyzer product segment is expected to contribute the most to the overall clinical chemistry market growth in the coming years since it is the first line of products utilized in several clinical chemistry tests. Despite this, the reagents sector would increase market share during the forecast period because of the high volume of reagents required compared to analyzers.
Basic Metabolic Panel Tests Segment Hold Lion's Share:
By Test Type, we have covered the market for Basic Metabolic Panel, Electrolyte Panel, Liver Panel, Lipid Profile, Renal Profile, Thyroid Function Panel, and Specialty Chemical tests. According to our research, the basic metabolic panel tests category will account for most of the market in 2021. Furthermore, the rising incidence of diabetes and other lifestyle and chronic diseases and the growing trend of preventive healthcare can be ascribed to the growth of basic metabolic panel tests.
End-User, the Hospitals' Segment dominates the Market:
Hospitals led the clinical chemistry industry in 2021, accounting for a significant market share. Increased market penetration and procedure volumes are to blame for hospital expansion worldwide. Expanded government programs to provide various services, such as funding for clinical chemistry, are another primary driver projected to drive the hospital industry. In addition, several hospitals work with laboratories to incorporate additional tests.
Regional Analysis of the Clinical Chemistry Market:
North America, Europe, Asia Pacific, Latin America, the Middle East & Africa are the five regions that make up the worldwide clinical chemistry market. Due to a predicted growth in the geriatric population in countries like the United States and Canada, the North American region is dominant in the worldwide clinical chemistry market. In addition, these countries may see a boost in demand for breakthrough medical technologies, which might aid the clinical chemistry market's expansion in North America.
Furthermore, Europe is predicted to trail North America in the global clinical chemistry market, owing to improved healthcare infrastructure in countries like Germany and the United Kingdom and a significant percentage of the population suffering from diabetes. In addition, the clinical chemistry market in the Asia Pacific is predicted to grow profitably, particularly in nations like Japan, which have advanced healthcare infrastructure. Further, due to the absence of solid healthcare infrastructure, other regions such as Latin America and, the Middle East & Africa are likely to see moderate growth in the total clinical chemistry market.
Clinical Chemistry Market's Competitive Landscape:
The worldwide clinical chemistry market is dominated by a small number of competitors, all of whom may pursue various growth strategies to stay competitive. Furthermore, to grow their market presence and increase their revenue share, the major players in the clinical chemistry market may choose to partner with smaller companies. Government and private-sector funds may be used to assist minor clinical chemistry industry participants in their long-term expansion. Abbott Laboratories, Danaher Corporation, EKF Diagnostics Holdings PLC, Hitachi, HORIBA, Ltd., Johnson & Johnson, Siemens Healthineers, Sysmex ADR, and Thermo Fisher Scientific are the main competitors in the clinical chemistry industry.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
4.3 Opportunities
5. Global Clinical Chemistry Market
6. Market Share - Global Clinical Chemistry Market
6.1 By Product Type
6.2 By Test Type
6.3 By Technology
6.4 By End User
6.5 By Region
7. Product Type - Global Clinical Chemistry Market
7.1 Reagents
7.1.1 Small (400-800 Test/H)
7.1.2 Medium (800-1300 Tests/ H)
7.1.3 Large (1300-2000 Test/ H)
7.1.4 Very Large (2000 Test/H)
7.2 Analyzers
7.2.1 Liquid
7.2.2 Solid
7.2.3 Others
7.3 Others
8. Test Type - Global Clinical Chemistry Market
8.1 Basic Metabolic Panel
8.2 Electrolyte Panel
8.3 Liver Panel
8.4 Lipid Profile
8.5 Renal Profile
8.6 Thyroid Function Panel
8.7 Specialty Chemical tests
9. Technology - Global Clinical Chemistry Market
9.1 Semi-automated Clinical Chemistry
9.2 Fully Automated Clinical Chemistry
10. End User - Global Clinical Chemistry Market
10.1 Hospital
10.2 Academic Research Centers
10.3 Diagnostics Laboratories
10.4 Others
11. Region - Global Clinical Chemistry Market
11.1 North America
11.2 Europe
11.3 Asia Pacific
11.4 Middle East & Africa
11.5 Latin America
12. Porters Five Forces
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13. Company Analysis
13.1 Abbott Laboratories
13.1.1 Overview
13.1.2 Recent Development
13.1.3 Revenue
13.2 Danaher Corporation
13.2.1 Overview
13.2.2 Recent Development
13.2.3 Revenue
13.3 EKF Diagnostics Holdings PLC
13.3.1 Overview
13.3.2 Recent Development
13.3.3 Revenue
13.4 Hitachi
13.4.1 Overview
13.4.2 Recent Development
13.4.3 Revenue
13.5 HORIBA, Ltd.
13.5.1 Overview
13.5.2 Recent Development
13.5.3 Revenue
13.6 Johnson & Johnson
13.6.1 Overview
13.6.2 Recent Development
13.6.3 Revenue
13.7 Siemens Healthineers
13.7.1 Overview
13.7.2 Recent Development
13.7.3 Revenue
13.8 Sysmex ADR
13.8.1 Overview
13.8.2 Recent Development
13.8.3 Revenue
13.9 Thermo Fisher Scientific
13.9.1 Overview
13.9.2 Recent Development
13.9.3 Revenue
For more information about this report visit https://www.researchandmarkets.com/r/f8q2y2
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article