Clinical Laboratory Services Market Size was valued at USD 252.36 Billion in 2023. The Global Clinical Laboratory Services industry is projected to grow from USD 262.01 Billion in 2024 to USD 355.94 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.90% during the forecast period (2024 - 2032). Rising number of advancements of quick & inescapable testing and increasing frequencies of ongoing illnesses are boosting the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rising prevalence of chronic diseases such as cardiovascular disorders, diabetes, Alzheimer’s, obesity, arthritis, and cancer demands clinical diagnostics. Clinical pathology tests are performed on collected clinical specimens at a clinical laboratory to obtain information about the patient’s health and aid in diagnosing, preventing, and treating diseases. Hence, the growing incidence of chronic diseases is anticipated to fuel the market growth during the assessment period. Cancer caused a significant impact on society across the globe. As per the World Health Organization, there were 10 million deaths caused due to the cancer in 2020.
Moreover, early diagnosis of diseases such as cancer, heart disease, respiratory disease, kidney disease, and others can substantially improve the chances of successful treatment. US government and various international organizations have launched several initiatives to raise awareness about early diagnosis. For instance, in 2020, the American Society of Nephrology has launched a new initiative Acute Kidney Injury (AKI) to encourage excellence in the prevention and treatment of AKI by establishing a foundational program that transforms education and AKI care delivery.
The clinical laboratory services market segmentation, based on type, includes biochemistry, endocrinology, microbiology, hematology, histopathology, cytology, and genetic testing. The biochemistry segment held the majority share in 2021 contribution to around XX% in respect to the clinical laboratory services revenue. This is due to the rising prevalence of heart and renal diseases, the demand for biochemical laboratory testing is also escalating, as biochemical tests are of great importance in the diagnosis of heart diseases.
August 2021: OPKO Health, Inc. (US), a subsidiary of BioReference Laboratories (US), acquired F. Hoffmann-La Roche Ltd. (Switzerland), the US's centralized prenatal laboratory testing business. This helped the company further strengthen its genetic testing service capabilities.
The clinical laboratory services market segmentation, based on application, includes independent laboratory, reference laboratory, and hospital laboratory. The hospital laboratory dominated the market in 2021 and independent laboratory is projected to be the faster-growing segment during the forecast period, 2024-2032. Hospitals being a primary center for providing healthcare services have clinical and medical laboratories as their major departments. These laboratories operate in multiple disciplines of chemistry, microbiology, virology, hematology, histology, immunology or molecular diagnostics, and the blood bank. This can be attributed to high test volumes followed by favorable reimbursements. According to the article published in the Journal of the American Medical Association (JAMA) Network in 2021, more than 12 billion clinical laboratory tests are analyzed in the US each year, making them the highest-volume health care service nationwide.
December 2021: Eurofins Scientific (Luxembourg) signed an agreement with Transgenic, Inc. (Japan) to acquire Genetic Lab Co., Ltd. This acquisition further enhanced Eurofin's expansion in Asia-Pacific and complemented clinical diagnostics laboratories across the globe, which are primarily focused on specialized and advanced genetic testing.
Figure 2: Clinical Laboratory Services Market, by Application, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Clinical Laboratory Services Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America clinical laboratory services market is propelling due to the rising incidences of chronic diseases, growing awareness among people regarding disease management and early diagnosis. Moreover, growing popularity of personalized medicine in the US is projected to create lucrative growth opportunities.
Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: CLINICAL LABORATORY SERVICES SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe clinical laboratory services market accounts for the second-largest market share due to a government initiative to increase awareness about preventive screening, improved public and private funding for clinical laboratory test development research, and high adoption of genome-based laboratory tests. Furthermore, the Germany clinical laboratory services market attributed to hold the largest market share, and the France clinical laboratory services market was expected the fastest growing market in the Europe region
The Asia-Pacific clinical laboratory services market is expected to grow at a steady pace from 2024 to 2032. This is owing to the increasing healthcare infrastructure, rising number of hospitals & clinical diagnostic laboratories in China and India. Moreover, China clinical laboratory services market attributed to held the largest market share, and the India clinical laboratory services market was the fastest growing market in the Asia-Pacific region.
Clinical Laboratory Services Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the clinical laboratory services market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the clinical laboratory services industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Additionally, Laboratory Corporation of America Holdings (US) operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics, and Covance Drug Development. In February 2022, Laboratory Corporation of America Holdings collaborated with Ascension, a US-based Catholic and non-profit health system, to expand its clinical test services. The collaboration aims to administer Ascension's hospital-based laboratories in 10 states, further growing its laboratory services across the US.
Mayo Medical Laboratories (US) offers clinical testing to support health care systems, hospitals, specialty clinics, and other clinical laboratories. It provides scientific testing services for various indications, including cardiology, genetics and pharmacogenomics, drugs of abuse, and hematology. In April 2020, the company introduced serology testing service to identify the immune response to ARS-CoV-2. The test aims to detect antibodies specific to the coronavirus. The service launch enhanced the company’s portfolio in infectious disease diagnostic services.
Key Companies in the clinical laboratory services market includes.
Mayo Medical Laboratories (US)
Laboratory Corporation of America Holdings (US)
Quest Diagnostics (US)
Spectra Laboratories, Inc. (US)
Eurofins Scientific (Luxembourg)
Sonic Healthcare Limited (Australia)
NeoGenomics Laboratories, Inc. (US)
Fresenius Medical Care AG & Co. KGaA (Germany)
Clinical Reference Laboratory (US)
OPKO Health, Inc. (US), among others
Clinical Laboratory Services Industry Developments
In December 2024, Sonic Healthcare announced the plan to acquire laboratory group LADR, which is based in Germany, for a sum of 698 million dollars; Intel announced a mix of cash and shares. This acquisition is said to be finalized in the first half of 2025, pending any regulatory issues, and this acquisition will enhance Sonic's reach in Europe. As for LADR, it started operating back in 1945 and has a workforce of over 2800 employees, and after the acquisition, it is said to still function under the same brand.
Quest Diagnostics acquired a definitive ultimatum in July 2024, which indicates them taking over LifeLabs which is an established community in Canada with an estimate of 985 million dollars, including the estimated debt of the company. It is estimated that LifeLabs will still hold their original brand and the office post-acquisition after the deal concludes by the end of 2024. This purchase is in line with Michael's plans to expand services in Canada, which he has been following for quite a while.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 252.36 billion |
| Market Size 2024 | USD 262.01 billion |
| Market Size 2032 | USD 355.94 billion |
| Compound Annual Growth Rate (CAGR) | 3.90% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Mayo Medical Laboratories (US), Laboratory Corporation of America Holdings (US), Quest Diagnostics (US), Spectra Laboratories, Inc. (US), Eurofins Scientific (Luxembourg), Sonic Healthcare Limited (Australia), NeoGenomics Laboratories, Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), Clinical Reference Laboratory (US), BioReference Laboratories (US), and others |
| Key Market Opportunities | Untapped emerging economies |
| Key Market Dynamics | Rising number of advancements of quick & inescapable testing Increasing frequencies of ongoing illnesses |
Clinical Laboratory Services Market Highlights:
Frequently Asked Questions (FAQ) :
The clinical laboratory services market is anticipated to reach 355.94 billion at a CAGR of 3.90% during the forecast period of 2024–2032.
The US is expected to hold a 35–40% share of the market for clinical laboratory services during the forecast period of 2024–2032.
The clinical laboratory services market is expected to grow at a 3.90% CAGR during the forecast period from 2024 to 2032.
The North America region market held the largest market share.
The key players include Mayo Medical Laboratories (US), Laboratory Corporation of America Holdings (US), Quest Diagnostics (US), Spectra Laboratories, Inc. (US), Eurofins Scientific (Luxembourg), Sonic Healthcare Limited (Australia), NeoGenomics Laboratories, Inc. (US), Fresenius Medical Care AG & Co. KGaA (Germany), Clinical Reference Laboratory (US), BioReference Laboratories (US), and others.
The biochemistry type led the clinical laboratory services market.
Hospital laboratory had the largest market share.
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Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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