PUBLISHER: The Business Research Company | PRODUCT CODE: 1764286
PUBLISHER: The Business Research Company | PRODUCT CODE: 1764286
Clinical laboratory services involve medical testing performed on clinical samples like blood, urine, and tissue to diagnose, monitor, and prevent diseases. These services deliver precise and timely laboratory results that help physicians make well-informed treatment decisions. Their primary role is to aid in disease detection, health evaluation, and therapy monitoring.
The main categories of tests in clinical laboratory services include genetic testing, clinical chemistry, medical microbiology, hematology, immunology, cytology, drug abuse testing, and more. Genetic testing analyzes an individual's DNA, RNA, chromosomes, or proteins to detect mutations or changes that may signal risk for certain diseases or conditions. These services are offered through hospital-based laboratories, stand-alone labs, and clinic-based labs, utilizing technologies such as conventional lab methods, automated systems, and point-of-care testing. Clinical laboratory services support various fields including bioanalytical and lab chemistry, toxicology, cell and gene therapy, preclinical and clinical trials, drug discovery and development, among others, serving end users like hospitals, diagnostic labs, clinics, and research centers.
The clinical laboratory services market research report is one of a series of new reports from The Business Research Company that provides clinical laboratory services market statistics, including clinical laboratory services industry global market size, regional shares, competitors with a clinical laboratory services market share, clinical laboratory services market segments, market trends and opportunities, and any further data you may need to thrive in the clinical laboratory services industry. This clinical laboratory services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The clinical laboratory services market size has grown strongly in recent years. It will grow from $291.70 billion in 2024 to $314.18 billion in 2025 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historic period can be attributed to the rising prevalence of chronic diseases, an expanding geriatric population, increased adoption of personalized medicine, a higher number of clinical trials, and greater automation in clinical laboratories.
The clinical laboratory services market size is expected to see strong growth in the next few years. It will grow to $418.40 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth expected in the forecast period is driven by rising demand for diagnostic testing, an increasing number of biochemistry tests, growing healthcare spending, wider adoption of laboratory automation, and higher volumes of test samples. Key trends during this period include the use of artificial intelligence (AI) and digital technologies, innovative and advanced diagnostic methods, as well as cutting-edge molecular techniques.
The rising demand for diagnostic testing is expected to drive the growth of the clinical laboratory services market moving forward. Diagnostic testing involves medical procedures used to detect, confirm, or exclude the presence of a disease or condition in patients. This growing demand is fueled by the increasing prevalence of chronic and infectious diseases, as timely and accurate diagnostics are crucial for early detection, effective treatment, and disease management. Clinical laboratory services support diagnostic testing by providing precise and prompt analyses, making them essential for early disease identification and ongoing management. They help reduce clinical uncertainty by delivering accurate lab results, enhancing patient care, and guiding treatment decisions. For example, in December 2024, the National Health Service (NHS), a UK government agency, reported that the number of diagnostic tests performed reached 2,544,809 in 2024, up from 2,312,030 in 2023. Thus, the growing demand for diagnostic testing is propelling the expansion of the clinical laboratory services market.
Leading companies in the clinical laboratory services market are prioritizing the development of innovative solutions like pharmacogenetic screenings (PGx) to enhance personalized medicine, improve patient outcomes, and support precision treatment decisions through genetic information. Pharmacogenetic screenings analyze an individual's DNA to predict their response to specific medications. For example, in July 2022, Apollo Health Group, an India-based healthcare firm, partnered with 1health.io Inc., a US-based software company, to launch genetic testing services for clinicians. These services include hereditary cancer genetic screenings (CGx) and pharmacogenetic screenings (PGx). This partnership streamlines complex genetic testing processes by replacing traditional paper-based methods with a digital platform, enabling physicians across the United States to register, place orders, and receive results online. The service aims to simplify ordering, reduce turnaround times, and help clinicians deliver timely, personalized care to patients at risk for cancer and other genetic conditions.
In April 2024, Eurofins Scientific SE, a testing laboratories company based in Luxembourg, acquired Ascend Clinical LLC for an undisclosed sum. Through this acquisition, Eurofins Scientific SE intends to enhance its global laboratory network and broaden its service offerings in specialized testing markets. Ascend Clinical LLC is a clinical laboratory services company headquartered in the US.
Major players in the clinical laboratory services market are Roche Diagnostics India Private Limited, Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers AG, IQVIA Laboratories, Labcorp , Quest Diagnostics Incorporated, Geisinger Health System, Eurofins Scientific, Sonic Healthcare Limited, Grifols S.A., BioMerieux SA, SYNLAB Group, Bio-Rad Laboratories Inc., OPKO Health Inc, NeoGenomics Laboratories, Ambry Genetics Corporation, Genova Diagnostics (GDX), Enzo Biochem Inc, Wildcat DX.
North America was the largest region in the clinical laboratory services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in clinical laboratory services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the clinical laboratory services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The clinical laboratory services market includes revenues earned by entities through diagnostic testing, routine blood and urine analysis, pathology examinations, genetic testing, and other laboratory-based evaluations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Clinical Laboratory Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on clinical laboratory services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for clinical laboratory services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The clinical laboratory services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.