The global pathology laboratories market is expected to reach USD 612.2 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.86% from 2022 to 2030. The major factors driving the industry include increasing life expectancy, the development of healthcare infrastructure in developing nations, favoring reimbursement, and rising demand for routine medical check-ups.
Pathology Laboratories Market Report Highlights
- Based on type, hospital-based diagnostic labs dominated the market during the year 2021. This can be attributed to the advanced tests available at hospitals, making them the only best solution for complex diagnosis
- The imaging & radiology tests segment is expected to have the fastest growth during the forecast period owing to the advancement in imaging techniques & the high prevalence of accidents & target diseases worldwide
- Based on the end use, physician referrals dominated the market in 2021. Walk-in and corporate clients are expected to witness lucrative growth due to increased self-awareness for monitoring health and wellness among individuals
- S. is expected to have a high demand for the diagnosis of cardiovascular health as a result of the most prominent disease in the U.S.
- Europe is expected to have a high demand for oncology testing during the forecast period. Denmark has the highest prevalence of cancer globally in terms of cancer prevalence as per the World Cancer Research Fund International
- The market is witnessing multiple collaborations in recent times with the key players aiming at adding value to their services & expanding their research. For Instance, in July 2022, Unilabs announced a partnership with Subtle Medical, to be the first diagnostic company to adopt their AI-based MRI technology for high-quality & quick MRI. The solution will be first launched in Sweden.
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In addition, the advancement of technology is altering the dynamics of diagnosis. Innovative technologies have made Point of Care Testing(POCT) devices portable and improved sampling techniques, making diagnostic services more accessible and efficient. Several advancements are expected to transform the industry by steering patient care through quality, speed, efficiency, and scalability. The healthcare system is progressively emphasizing the importance of pathological & diagnostic labs in becoming a greater clinical decision-making engine, assisting physicians in making inferences and diagnosing as well as monitoring patients more quickly and accurately.
The COVID-19 pandemic has resulted in higher demand for pathology/diagnostic labs as the testing for COVID-19 was necessary during the pandemic. The rapid rise of COVID-19 infections has resulted in increased funding and testing, which has boosted the overall market growth. For instance, the (NIH) National Institutes of Health in the United States announced in September 2020 that it would grant USD 129.3 million in funding to nine organizations including, Maxim Biomedical Inc., MatMaCorp, MicroGEM International, & others, for scaling-up manufacturing assistance to a new set of COVID-19 testing technologies as component of its initiative to boost diagnostics in the region.
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List of Key Players in Pathology Laboratories Market
- Quest Diagnostics Incorporated
- Eurofins Scientific
- Laboratory Corporation of America Holdings
- Exact Sciences Laboratories LLC
- Spectra Laboratories
- SYNLAB International GmbH
- Sonic Healthcare Limited
- Lal Path Labs
- Metropolis Healthcare
- Kingmed Diagnostics
- Healius Limited
- Centro de Diagnósticos
- Falco Holdings
- Unilabs
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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Segmented the pathology laboratories market based on type, testing services, end-use, and region
Table of Contents
Chapter 1 Methodology and Scope
1.1 Regional Scope
1.2 Estimates and Forecast Timeline
1.3 Research Methodology
1.3.1 Information procurement
1.3.1.1 Purchased database
1.3.1.2 GVR’S internal database
1.3.1.3 Secondary sources
1.3.1.4 Primary research
1.3.1.4.1 Details of the primary research
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis
1.6.2 Volume Price Analysis
1.7 List of Secondary Sources
1.8 List of Abbreviations
1.9 Objectives
1.9.1 Objective - 1
1.9.2 Objective - 2
1.9.3 Objective - 3
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Regional Outlook
2.4 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Dynamics
3.1.1 Market Driver Analysis
3.1.1.1 Improving healthcare infrastructure in developing countries
3.1.1.2 Increasing demand for regular general health check-ups
3.1.1.3 Gowning reimbursement for diagnostics services
3.1.2 Market Restraint Analysis
3.1.2.1 Affordability for high-end molecular diagnostics
3.1.2.2 Shortage of skilled workforce.
3.2 Business Environment Analysis Tools
3.2.1 Porter’s Five Forces Analysis
3.2.1.1 Threat of new entrants
3.2.1.2 Bargaining power of buyers
3.2.1.3 Competitive rivalry
3.2.1.4 Threat of substitutes
3.2.1.5 Bargaining power of suppliers
3.3 Impact of COVID-19
3.4 Regulatory Framework & Reimbursement Scenario
Chapter 4 Pathology Laboratories Market: Type Analysis
4.1 Pathology Laboratories by Type Market Share Analysis, 2021 & 2030
4.2 Segment Dashboard
4.3 Market Size and Forecasts and Trend Analysis, 2017 - 2030 for the Type
4.3.1 Hospital Based
4.3.1.1 Hospital-based market, 2017 - 2030 (USD Billion)
4.3.2 Standalone Labs
4.3.2.1 Standalone labs market, 2017 - 2030 (USD Billion)
4.4.3 Diagnostic Chains
4.4.3.1 Diagnostic chains market, 2017 - 2030 (USD Billion)
Chapter 5 Pathology Laboratories Market: Testing Services Analysis
5.1 Pathology Laboratories Testing Services Market Share Analysis, 2021 & 2030
5.2 Segment Dashboard
5.3 Market Size & Forecasts and Trend Analysis, 2017 to 2030 for the Testing Services:
5.3.1 General Physiological & Clinical Tests
5.3.1.1 General physiological & clinical tests market, 2017 - 2030 (USD Billion)
5.3.2 Imaging & Radiology Tests
5.3.2.1 Imaging & radiology tests market, 2017 - 2030 (USD Billion)
5.3.3 Esoteric Tests
5.3.3.1 Esoteric tests market, 2017 - 2030 (USD Billion)
5.3.4 COVID-19 Tests
5.3.4.1 COVID-19 tests market, 2017 - 2030 (USD Billion)
Chapter 6 Pathology Laboratories Market: End-use Analysis
6.1 Pathology Laboratories End-use Market Share Analysis, 2021 and 2030
6.2 Segment Dashboard
6.3 Market Size and Forecasts and Trend Analysis, 2017-2030 for the Following End-Use
6.3.1 Physician Referrals
6.3.1.1 Physician referrals market, 2017 - 2030 (USD Billion)
6.3.2 Walk-Ins
6.3.2.1 Walk-Ins market, 2017 - 2030 (USD Billion)
6.3.3 Corporate
6.3.3.1 Corporate market, 2017 - 2030 (USD Billion)
