Growing Base of Aging Population Drives the Global Market for Clinical Laboratory Services, According to a Soon to be Released Report by Global Industry Analysts, Inc.

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GIA announces the launch of a comprehensive primary research program studying the global market for “Clinical Laboratory Services”. The soon to be released report identifies the expanding base of aging population, rise in the number of laboratory tests, and growing focus on preventive healthcare as key market driving forces.

Clinical Laboratory Services: A Global Multi-Client Research Initiative

Follow us on LinkedIn – GIA invites senior industry executives, domain experts, technologists and market strategists to participate in a comprehensive global research initiative studying the “Clinical Laboratory Services” markets. The study will examine key drivers and trends impacting the market such as, expanding base of aging population and the resulting higher need for lab tests; increasing demand for specialized testing in infectious diseases; growing burden of non-communicable diseases like diabetes and the need for routine testing; growing focus on preventive healthcare and the resulting increase in volumes of risk factor testing in the field of oncology, cardiology, gynecology and endocrinology; growing emphasis on customized healthcare and increase in interest in biomarker-based tests and diagnostics for personalized medicine; strong growth potential in developing countries against a backdrop of improvements in healthcare infrastructure, better access to affordable healthcare services, growing disposable incomes and healthcare spends; growing popularity of point-of-care testing and genetic testing.

Clinical laboratory services are defined as diagnostic services offered by clinical laboratories such as serological, hematological, pathological, microbiological, chemical, and biophysical analysis of human biological material (fluids, tissues, or cells) for diagnosis, prognosis, and treatment of diseases. An important component of the overall healthcare services market, Clinical Laboratory Services play a vital role in the diagnostic phase of healthcare with over 90% of decisions related to hospital admissions, discharge, and treatment regimes, being based on lab tests. Increasing access to quality healthcare services in developing countries, growing patient awareness over disease conditions and treatment options, and scientific developments are encouraging the usage of these services. Growing awareness among governments worldwide over the importance of preventive healthcare in reducing healthcare costs is helping spur demand for preventive diagnostics and screening test services. Preventive care services are therefore expected to witness robust growth in the coming years in developed regions like North America and Europe.

The growing trend of ‘shorter hospital stays’ in countries such as the US is particularly benefiting the market as it is resulting in the increased need for delivery of accurate test results in a timely manner. Demand for point of care testing (POCT) services is therefore expected to witness healthy demand, since clinical efficiency of POC tests aid in improving patient outcomes, reducing hospital stays, and waiting times. Market gains are also expected to be driven by growing demand for genomic and esoteric testing, particularly among the aging population. The emergence of specialized tests particularly in areas of infectious diseases and oncology that facilitates early detection of disease also augurs well for the market.

Immunodiagnostics, pharmacogenomics, companion diagnostics, molecular diagnostics, genetic testing, cancer biomarkers, anatomic pathology, cell-based cancer diagnostics, clinical testing for pharmaceutical applications and clinical toxicology, among others are expected to be the key areas of future growth in the market. Accountable Care Organizations (ACOs) will help augment the use of screening tests, given their increased focus on value-based medical care. Despite the opportunities in store, market for clinical laboratory services will also face challenges manifested in the form of healthcare cost rationalization and the ensuing restrictions on reimbursements related to speciality tests.

The study estimates Clinical Laboratory Services to be a multi-million dollar market worldwide, while more precise market-size and growth projections will be made available during the 2nd stage of report preparation, and data analysis.

The research and analyses will be released shortly in the form of a comprehensive research report. The report by design, will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modeled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.

Developed for Diagnostic Service Providers, Strategic Planners, Business Development Executives, Management Consultants, Investment Bankers, Consulting Firms, Marketing & Sales Executives, C-Level Decision Makers, Market Strategists and Technology Domain Experts, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.

For more details about how you can participate, please click here

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
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