The global Clinical Laboratory Services Market is expected to witness a substantial growth in the years to come. This could be attributed to technical advancements with regards to medical laboratory services. Plus, loads of infectious ailments are coming up; which may result in increase in mortality and morbidity if not detected on time. Clinical laboratory services help in checking this catastrophe. This is another factor driving the market in the near future.
Increase in geriatric population outcomes in weak immune system. This will also affect the clinical laboratory services market on positive grounds. Besides, governments in developed economies like the U.S., Belgium, and Denmark do put healthcare at the top pedestal. At the same time, there are economies having ambivalent regulatory framework are likely to impede the market in the next 5-7 years.
The clinical laboratory services industry is segmented based on type of test, service provider, and geography. By type of test, the segmentation spans medical microbiology & cytology, clinical chemistry, human & tumor genetics, and the other esoteric tests. By service provider, the market could span clinic-based laboratories, stand-alone laboratories, and hospital-based laboratories.
By geography, the clinical laboratory services market comprises North America (Canada, U.), Europe (Italy, Spain, France, UK, and France), Asia Pacific (India, Australia, China, and Japan), LATAM (Mexico, Brazil), and MEA (Saudi Arabia, South Africa). Asia Pacific’s market is projected to grow by leaps and bounds owing to considerable efforts taken by the governments in enhancing lab services herein. North America and Europe have already attained saturation with respect to clinical laboratory services.
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The players contributing to the clinical laboratory services market include Arup laboratories, Genzyme, Laboratory Corporation of America Holdings, Sonic Healthcare, Siemens, Quest Diagnostics, NeoGenomics laboratories, Fullerton Health, Abbott, Opko Health, Fresenius Medical Care, Charles River laboratories, Qiagen, and Genoptix Medical laboratory. Inorganic growth is on the anvil. For example – NeoGenomics, in Jul 2019, opened novel pharma services laboratory in Singapore. With PPD (Pharmaceutical Product Development, LLC). Way back in Jul 2017, Arup Laboratories inked a partnership with IDbyDNA for developing next-generation sequencing infectious disease testing. The partnership did introduce genomic technology all over clinical practices.
Market Segment:
Clinical Laboratory Services Test Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Clinical Chemistry
• Human & Tumor Genetics
• Medical Microbiology & Cytology
• Other Esoteric Tests
Clinical Laboratory Service Provider Outlook (Revenue, USD Billion, 2014 - 2025)
• Hospital-based Laboratories
• Stand-alone Laboratories
• Clinics-based Laboratories
Clinical Laboratory Services Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Middle East & Africa
• South Africa
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Mar 01, 2021: Global Medical Billing Outsourcing Market is anticipated to reach USD 16.9 billion by 2024 due to the rising technological innovation in healthcare services.
Medical billing outsourcing is a business process adopted by hospitals, nursing homes and healthcare providers to acquire healthcare related services via outsourcing.
It focuses on improved patient care instead of billing.Medical billing outsourcing market is majorly driven by the rise in geriatric population worldwide that demands efficient healthcare services.
This is attributed to the developed economies that comprises higher percentage of elderly population.
Currently, the market is witnessing high growth in adoption of outsourcing services by the physicians and hospitals.Medical billing outsourcing industry is categorized on the basis of services, component, end user and geography.
On the basis of services, the market is divided into front end, middle and backend.
Industry InsightsThe global Carcinoembryonic Antigen (CEA) market is expected to reach USD 2.56 Billion by 2022, which is anticipated to grow at a CAGR of more than 6.6% during the forecast period.
The market is expected to witness significant growth in the coming few years owing to various key attributes such as growing incidence of cancer and technological advancement regarding the development of novel biomarkers.
Furthermore, increased consumption of alcohol, less physical activity, unhealthy diet, and rapidly changing lifestyle also contribute in the growth of colorectal cancer in the recent years.Breast cancer is another segment experiencing significant growth owing to the factors such as rising female population above 50 years, advancements in biomarkers and increase in number of patients undertaking hormone replacement therapy (HRT), and breast augmentation & reconstruction surgery.
Moreover, other breast related diseases such as infections, lesions, and fibrocysts are also expected to contribute towards the growth in early diagnosis.Regional InsightRegional segments of CEA market include North America, Europe, Asia Pacific, Latin America and MEA.
In 2016, North America dominate the regional market pertaining to various key attributes such as increasing patient awareness, rising incidences of cancer, favorable reimbursement policies, and presence of advanced healthcare infrastructure.
According to American Cancer Society in 2017, approximately 1,688,780 new cases of cancer were estimated in the U.S.Asia Pacific region is expected to grow at lucrative rates during the forecast period owing to the factors such as increasing prevalence of cancer in emerging economies such as Brazil, Russia, India, and China, favorable government initiatives, and significant presence of local players will drive the growth of the market in this region.
According to the new market research report “Esoteric Testing Market by Type (Infectious Disease, Endocrinology, Oncology, Toxicology, Immunology, Neurology, Genetic Testing), Lab Type (Independent Labs, Hospital Laboratories), Technology (Mass Spectrometry, CLIA, ELISA, PCR) – Global Forecast to 2023″, published by MarketsandMarkets™.Revenue Growth Opportunities and Growth Drivers?
MarketsandMarkets forecasts the global esoteric testing market is projected to reach USD 35.24 billion by 2023 from USD 20.38 billion in 2018, at a CAGR of 11.6%.Rising Geriatric Population and Subsequent Growth in the Prevalence of Chronic DiseasesIncreasing Burden of Infectious DiseasesRising Demand for Early Disease Detection Using Specialized Diagnostic TestsGrowing Awareness of Personalized MedicineIncreasing Funding and Research Grants for the Development of Innovative Esoteric TestsDriver: Growing awareness of personalized medicineGrowing patient awareness about the benefits of personalized medicine is one of the key factors resulting in the increased use of molecular diagnostics and genomics & proteomics technologies.
Esoteric tests, which involve the analysis of ‘rare’ molecules or substances, are an essential part of individualized treatment regimens for many chronic diseases and conditions.
These tests enable healthcare providers to make an informed clinical decision and reduce the likelihood of unnecessary adverse events.Ask for Free Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=76794708Leading Key Players in the Worldwide Industry: LabCorp (US), Quest Diagnostics (US), OPKO Health (US), Miraca Holdings (US), ARUP Laboratories (US), Myriad Genetics (US), Genomic Health (US), American Medical Laboratories (US), Foundation Medicines (US), Mayo Medical Laboratories (US), Primary Healthcare (Australia), Healthscope (Australia), Sonic Healthcare (UK), Fulgent Genetics (US), Spectra Laboratories (US), Nordic Lifesciences (US), InVitae (US), Unilabs (Switzerland), and SYNLAB (Germany).Geographical Regions Mapped in Report: North America is expected to account for the largest share of the market followed by Europe.
However, Asia Pacific is expected to register the highest CAGR during the forecast period owing to rising penetration of cutting-edge clinical laboratory technologies among masses (especially in rural areas) in Asia Pacific countries, development in healthcare infrastructure, and significant rise in the disposable income in the region.Ask for Free PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76794708Opportunity: Growth opportunities in emerging countriesDeveloping economies such as India, China, South Korea, Brazil, Turkey, Russia, and South Africa are expected to offer potential growth opportunities for the major players operating in the esoteric testing services market.
This can be attributed to the high disease prevalence, large patient population, improving healthcare infrastructure, and growing medical tourism in these countries.Challenge: Changing regulatory landscapeThe esoteric testing industry is impacted by the frequently changing laws and regulations by regional governments.
The global Precision Medicine Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the precision medicine market include Roche Holding AG, Illumina Inc., Thermo Fisher Scientific Inc., QIAGEN, Quest Diagnostics, Laboratory Corporation of America Holdings, Novartis AG, AstraZeneca, Bristol-Myers Squibb, Eli Lilly & Company and others..
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Precision Medicine Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/precision-medicine-market/download-sampleMarket DynamicsThe market is mainly driven by increasing approval of the drug and its companion diagnostic assay, cost-effective profiling of DNA, increasing incidence of cancer, and the rise of data-driven healthcare.
In addition, the rising use of “multi-omics” in research, along with the penetration of high-throughput sequencing platforms, is also surging up the precision medicine scenario.
The number of targeted molecules in the pipeline for a specific application has been exponentially growing, specifically in oncology has created a new opportunity over the forecast period.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the clinical laboratory services market include Qiagen, OPKO Health, Inc., Abbott, Cinven, Sonic Healthcare, NeoGenomics Laboratories, Inc., Arup Laboratories, Fresenius Medical Care, Viapath Group LLP, Almac Group, Quest Diagnostics, Inc., Laboratory Corporation of America Holdings (LabCorp), Charles River Laboratories International, Inc., DaVita, Inc., Siemens Healthcare GmbH, and SGS SA.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Clinical Laboratory Services Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/clinical-laboratory-services-market/download-sampleMarket DynamicsThe rising prevalence of target diseases together with increasing demand for early disease diagnostic tests are the major factor driving the Clinical laboratory services market.
The constant technological advancements in the area of clinical testing and the introduction of home health tests and novel solutions are contributing to the high market growth.
The rising public-private investments and research funding & grants to build up innovative laboratory testing procedures are positively impacting the clinical laboratory services market's growth.
Moreover, the growing adoption of digital pathology platforms and increasing preference for comprehensive health checkups offered by clinical laboratories are likely to create lucrative growth opportunities for key players of the Clinical laboratory services market in the coming years.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
Biomarker Test Market SynopsisThe Global Biomarker Test Market is predicted to garner USD 16,112.8 million during the forecast period (2016-2022).
Global Biomarker Test Market is estimated to experience growth at 14.5% CAGR owing to the rising prevalence of genetic diseases, asserts Market Research Future (MRFR).
Biomarkers are referred to as the molecules which are used to diagnose diseases as these indicate abnormal or normal process in the body.
Biomarkers can be classified on the basis of several parameters including characteristics such as molecular biomarkers or imaging biomarkers.Drivers and Constraints Impacting the Biomarker Test MarketThe ever-increasing population coupled with the upward trend in the adoption of sedentary lifestyles are considered to offer the industry with a huge target population base.
Moreover, the advent of biomarker-based diagnostic kits for screening high-risk population and the increasing prevalence of genetic disorders is further anticipated to augment the client base for this market.The demand for biomarkers is accelerating in the development process and drug discovery as use of biomarkers triggers the success rate in drug development process, improves patient outcome, and decrease costs.
It also aids in predicting drug efficacy faster than the conventional clinical endpoints.
