Clinical Laboratory Tests Market Hits $148.82 Billion To 2020

The global clinical laboratory tests market is poised to grow at a significant rate in the coming six years owing to the growing requirement of medical therapeutic organizations to collect and process large volumes of patient samples and gather relevant information for accurate medical diagnosis. Almost all clinical opinion about patient related conditions and disease prognosis are based directly or indirectly on results, obtained from clinical laboratory tests such as glucose testing, electrolyte and other essential substance test panels. A demographic increase in the medically ill and geriatric population base combined with the rising incidence rates of chronic ailments is also expected to drive the demand for the clinical laboratory tests market throughout the forecast period. For Market Research Report on “Clinical Laboratory Tests Market” Visit – [caption id="attachment_600" align="aligncenter" width="300"]Global clinical laboratory tests market, by product, 2013 & 2020 (USD Billion) Global clinical laboratory tests market, by product, 2013 & 2020 (USD Billion)[/caption] Presence of a wide range of clinical laboratory tests available at the disposal of medical practitioners and healthcare providers enable them to devise accurate and effective treatment approaches. Some commonly used clinical tests include complete blood count, BUN creatinine, HGB/HCT, HbA1c tests, metabolic, electrolytes, renal, liver and lipid panels. The most commonly used testing segments among these are HbA1c tests, metabolic and lipid panels followed by complete blood count. High prices associated with point of care lipid panel tests are expected to encourage patients to opt for clinical laboratories lipid panel tests. These tests form the fundamental basis of almost all routine medical analysis and therefore together accounted for over 60% of the revenue generated in the clinical laboratory tests market in 2013. Increasing demand for preventive medicine and growing patient awareness levels are expected to drive the demand for these tests during the forecast period. North America held the largest share in terms of revenue in 2013 due to the presence of sophisticated healthcare infrastructure and availability of technological expertise required to simultaneously process large testing volumes in clinical laboratories such as ARUP (Associated Regional and University Pathologists) Laboratory of the University of Utah. Increasing government expenditure towards the development of clinical and medical facilities in the Asia Pacific region such as China and India is expected to grow at a significant CAGR during the forecast period. Key participants in this market are Siemens Healthcare, Quest Diagnostics Incorporated, Charles River Laboratories, Bioscientia Healthcare, Clarient, Sonic Healthcare Ltd., Bio-Reference Laboratories, Qiagen, Abbott Laboratories, ARUP Laboratory and Genoptix Medical Laboratory. Clinical Laboratory Tests Market Information Source: Grand View Research